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Flipkart introduced Shopsy in July 2021 [3] [4] as a mobile app that allowed people in India to launch their own online reseller business. [5] [6] [7] By August 2021, the app had adopted a zero-commission marketplace model. [8] [9] Later, Shopsy shifted its focus to become a B2C company. [10]
In December 2021, Shopsy entered the grocery delivery segment in 700 cities across India. [ 69 ] [ 70 ] Shopsy surpasses 200 million app downloads on its 2nd anniversary in the month of July in 2023 with more than 60% of users hailing from tier-3 markets and other cities.
In July 2016, ShopClues collaborated with a hybrid e-commerce company, StoreKing to promote its products on the latter's app. In the same year, the company acquired Momoe, a Bangalore-based mobile payments company. [14] [15] In 2016 ShopClues acquired the IP of a SaaS platform from Squeakee Media which was founded by Abrar Shaikh in Mumbai ...
India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. [1] Despite being the second-largest user base in world, only behind China (1.079 billion, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54M, 81%), but is growing, adding around 6 million new entrants every ...
An online shop evokes the physical analogy of buying products or services at a regular "brick-and-mortar" retailer or shopping center; the process is called business-to-consumer (B2C) online shopping. When an online store is set up to enable businesses to buy from another businesses, the process is called business-to-business (B2B) online ...
[18] [19] In February 2016, acknowledging the failure of the "app-only" model, Myntra announced that it would revive its website. [20] In September 2017, Myntra negotiated the rights to manage Esprit Holdings's 15 offline stores in India. [21] [22] Myntra reported a net loss of ₹151.20 crore in the financial year 2017–2018. [23]
Indiatimes Shopping is the e-commerce division of The Times of India Group, India's largest media conglomerate. It is one of the pioneers in electronic commerce in India and services its customers through various channels including online and selling over the phone.
Binny Bansal (born 1982/1983) is an Indian billionaire [2] [3] Internet entrepreneur. [3] As of February 2024, his net worth was estimated at US$1.4 billion. [1] In 2007 he co-founded the e-commerce platform Flipkart.