Latest news with #Walmart-backed
Mint
04-07-2025
- Business
- Mint
Myntra aims to stream glamour through stories, stars and songs
Online fashion portal Myntra, part of Walmart-backed Flipkart Group, is sharpening its content-led commerce game with the launch of Glamstream, a shoppable lifestyle content destination that brings together music videos, podcasts and bite-sized stories featuring celebrities and influencers. The company, which has onboarded film stars such as Zeenat Aman, Vijay Deverakonda, Raveena Tandon, and Tabu and rapper Badshah to feature in lifestyle content spanning fiction and songs, will allow users to shop products displayed or used in the content. Glamstream was rolled out on Friday with over 4,000 content episodes spanning 500-plus hours. 'We've noticed that over 70% of shoppers rely on influencer content to make purchases and are looking for relatability in what they buy. While we've been putting out content featuring influencers on our app for a year-and-a-half, we are adding celebrity videos now,'Sunder Balasubramanian,chief marketing officer, Myntra, said in an interview. The company has onboarded over 100 celebrities for this initiative that will include everything from styling shows to podcasts and music videos, he added. To be sure, Myntra isn't new to the social commerce game. In 2021, it had announced the launch of M-Live, a live video streaming and live commerce section, on its app that built on its existing plank of content-led commerce initiatives such as Myntra Studio and Myntra Fashion Superstar. The former is a personalised content destination and provides users access to over 20,000 fashion, beauty, and lifestyle tips and ideas. Myntra Fashion Superstar is an online reality show that works as a talent platform to identify emerging fashion and beauty influencers. Content-led commerce is booming in India, with platforms and brands leveraging stories, songs, and music by digital creators and influencers to drive product discovery and social commerce platforms like Trell and Roposo lead the surge, while some other brands have integrated content and commerce through acquisitions and in-house content creation. Roposo, for example, focuses on creator-led live commerce, where creators can host their own pop-up stores and engage with users through live streams. Short video platform Moj has partnered with Flipkart, allowing users to purchase Flipkart-tagged products directly from within the videos. Similarly, social commerce platform Meesho focuses on an assisted shopping model, empowering women entrepreneurs to resell products, particularly in tier-2 and tier-3 experts point out that innovations in video marketing—both through short-video apps and social commerce apps, have aided the surge that took place in online shopping during the pandemic. They allow for a click on products for purchase, often with the video being played on the side. According to a Bain& Company report in 2020, social commerce in India (in terms of gross merchandise value) is projected to reach $16-20 billion by 2025 and $60-70 billion by 2030. In the Ficci-EY media and entertainment report 2025, Anupriya Acharya, chief executive officer of Publicis Groupe South Asia, had said that the media and entertainment sector is evolving with consolidation, quick commerce, and niche influencers. 'AI, data, and tech-driven storytelling will deepen content, commerce, and community convergence, making 2025 a pivotal year for interactive, shoppable experiences,' she had added. Balasubramanian said the idea of the latest initiative is to marry inspiration and shopping at a unique scale, given the company's 70 million monthly active user base. 'The future of shopping is content-led commerce,' he added.
Time of India
29-06-2025
- Automotive
- Time of India
Driving Change: Ecomm firms amp up for sustainable future
Electric vehicles are powering the green transformation of India's ecommerce industry. Amid an overall surge in order volumes, companies like Flipkart, Amazon, BigBasket, Swiggy, and Eternal (formerly Zomato) are speeding up the transition to ecofriendly vehicles for last-mile delivery , especially quick commerce. This is helping cut costs while lowering emissions and reducing the climate footprint. Walmart-backed Flipkart is looking to make its entire logistics fleet electric. After achieving the operational fleet milestone of 10,000 EVs last September, the company expanded its EV lineup by more than a third within six months. In FY25, Eternal, which also owns the Blinkit quick-commerce brand, completed more than 87 million EV-based food deliveries, a 40per cent rise from the previous year, expanding its EV rider base to over 37,000 across over 425 cities. BigBasket's EV fleet has more than doubled to 10,500 scooters this year, from 5,000 two years ago, with a third of the delivery fleet using electric scooters for order deliveries. Rival Swiggy announced a goal of transitioning to a full EV delivery fleet by 2030. 'Beyond environmental benefits, sustainability investments unlock new market opportunities and resonate with conscious consumers, strengthening customer loyalty. This balanced approach allows us to operate more efficiently, reduce waste, and build a more resilient business model,' said Abhinav Singh, vice president, operations, Amazon India and Australia. Amazon India deployed over 10,000 EVs in its delivery fleet as of October 2024, achieving the goal more than a year ahead of its 2025 target. These EVs operate in more than 500 cities across India, and the programme enables Delivery Service Partners (DSPs) to lease them. Long-term impact Amazon's primary goal is to achieve net-zero carbon by 2040, with electrifying last-mile deliveries as a key aspect. A Research & Markets report valued India's online food ordering and delivery market at $31.77 billion in 2024, and it is expected to grow at 28.17per cent compounded annually to around $140.85 billion by 2030. Using EVs for deliveries would help companies to reduce their climate footprint. 'At Flipkart, our approach to logistics is rooted in sustainability, innovation, and long-term impact,' said Nishant Gupta, head of sustainability, Flipkart. 'Today, more than 70per cent of our grocery deliveries are fulfilled using EVs.' The cost advantage also positively benefits delivery agents using these vehicles. Gupta said, 'Our goal isn't just to meet sustainability targets but to shape a resilient and future-ready supply chain that contributes to a cleaner India.' Companies are rapidly expanding charging infrastructure, partnering with EV makers and EV aggregation platforms, and forging tie-ups to give riders exclusive EV leasing benefits. BigBasket installed more than 3,000 EV charging sockets across its dark stores and BB Now stores, which it will continue expanding, said chief operating officer TK Balakumar. The Tata Group company is working with EV aggregators such as Zypp and Yulu for accelerating EV adoption besides engaging with national third-party logistics (3PL) partners for scaling up EV fleet deployment. Eternal, which aims to shift to 100per cent EV-based food deliveries by 2030, actively supports delivery partners to transition to EVs via a three-pronged strategy—raising EV awareness, building partnerships, and promoting EV ownership. 'We educate delivery partners through multilingual videos and app-based updates, and facilitate easy access to rentals and charging infrastructure through integrations with over 40 rental partners, battery-swapping networks and logistics service providers,' said Anjalli Ravi Kumar, chief sustainability officer, Eternal. To accelerate the adoption and improve accessibility of EVs for delivery partners, Zomato launched an EV rental bike fleet in Delhi, facilitating two-wheeler EVs on rent to its delivery partners. It has introduced 300 EV bikes through this pilot phase.
Time of India
29-06-2025
- Automotive
- Time of India
Driving Change: Ecomm firms amp up for sustainable future
Bengaluru: Electric vehicles are powering the green transformation of India's ecommerce industry. Amid an overall surge in order volumes, companies like Flipkart, Amazon, BigBasket, Swiggy, and Eternal (formerly Zomato) are speeding up the transition to ecofriendly vehicles for last-mile delivery , especially quick commerce. This is helping cut costs while lowering emissions and reducing the climate footprint. Walmart-backed Flipkart is looking to make its entire logistics fleet electric. After achieving the operational fleet milestone of 10,000 EVs last September, the company expanded its EV lineup by more than a third within six months. In FY25, Eternal, which also owns the Blinkit quick-commerce brand, completed more than 87 million EV-based food deliveries, a 40% rise from the previous year, expanding its EV rider base to over 37,000 across over 425 cities. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy the Dip: Top 5 Dividend Stocks with Growth Potential Seeking Alpha Read Now Undo BigBasket's EV fleet has more than doubled to 10,500 scooters this year, from 5,000 two years ago, with a third of the delivery fleet using electric scooters for order deliveries. Rival Swiggy announced a goal of transitioning to a full EV delivery fleet by 2030. Live Events 'Beyond environmental benefits, sustainability investments unlock new market opportunities and resonate with conscious consumers, strengthening customer loyalty. This balanced approach allows us to operate more efficiently, reduce waste, and build a more resilient business model,' said Abhinav Singh, vice president, operations, Amazon India and Australia. Amazon India deployed over 10,000 EVs in its delivery fleet as of October 2024, achieving the goal more than a year ahead of its 2025 target. These EVs operate in more than 500 cities across India, and the programme enables Delivery Service Partners (DSPs) to lease them. Long-term impact Amazon's primary goal is to achieve net-zero carbon by 2040, with electrifying last-mile deliveries as a key aspect. A Research & Markets report valued India's online food ordering and delivery market at $31.77 billion in 2024, and it is expected to grow at 28.17% compounded annually to around $140.85 billion by 2030. Using EVs for deliveries would help companies to reduce their climate footprint. 'At Flipkart, our approach to logistics is rooted in sustainability, innovation, and long-term impact,' said Nishant Gupta, head of sustainability, Flipkart. 'Today, more than 70% of our grocery deliveries are fulfilled using EVs.' The cost advantage also positively benefits delivery agents using these vehicles. Gupta said, 'Our goal isn't just to meet sustainability targets but to shape a resilient and future-ready supply chain that contributes to a cleaner India.' Companies are rapidly expanding charging infrastructure, partnering with EV makers and EV aggregation platforms, and forging tie-ups to give riders exclusive EV leasing benefits. BigBasket installed more than 3,000 EV charging sockets across its dark stores and BB Now stores, which it will continue expanding, said chief operating officer TK Balakumar. The Tata Group company is working with EV aggregators such as Zypp and Yulu for accelerating EV adoption besides engaging with national third-party logistics (3PL) partners for scaling up EV fleet deployment. Eternal, which aims to shift to 100% EV-based food deliveries by 2030, actively supports delivery partners to transition to EVs via a three-pronged strategy—raising EV awareness, building partnerships, and promoting EV ownership. 'We educate delivery partners through multilingual videos and app-based updates, and facilitate easy access to rentals and charging infrastructure through integrations with over 40 rental partners, battery-swapping networks and logistics service providers,' said Anjalli Ravi Kumar, chief sustainability officer, Eternal. To accelerate the adoption and improve accessibility of EVs for delivery partners, Zomato launched an EV rental bike fleet in Delhi, facilitating two-wheeler EVs on rent to its delivery partners. It has introduced 300 EV bikes through this pilot phase.
Yahoo
24-06-2025
- Business
- Yahoo
PhonePe reportedly planning $1.5bn India IPO
Walmart-backed Indian fintech firm PhonePe is gearing up for an initial public offering (IPO) to raise up to $1.5bn, Bloomberg reported citing people familiar with the matter. The IPO is expected to value the company at approximately $15bn, with plans to file a draft red herring prospectus as early as August, Bloomberg added. Founded in 2015, PhonePe is India's 'largest' digital payments provider, boasting over 610 million registered users and processing 340 million rupees of transactions daily, per Bloomberg. According to Reuters, the company serves more than 600 million registered users across 40 million merchants, handling over 310 million online transactions daily via India's unified payments interface (UPI). In 2023, PhonePe raised $100m from Ribbit Capital, Tiger Global Management, and TVS Capital Funds, valuing the company at $12bn at the time. The firm has engaged Kotak Mahindra Capital Co., JPMorgan Chase & Co., Citigroup Inc., and Morgan Stanley to manage the offering, Bloomberg reported. Discussions remain ongoing, and details may change, according to Bloomberg's sources. A PhonePe spokesperson did not respond to Bloomberg's request for comment. In May this year, PhonePe launched an upgraded version of its SmartSpeaker, a device designed to facilitate payment voice notifications for merchants. The latest iteration of the SmartSpeaker is manufactured in India and retains the voice notification feature of the original model, which was introduced in 2022. The device supports 21 language options and includes a celebrity voice feature. In April, the company introduced the UPI Circle feature on its app, enabling users to make payments to family members, friends, or other trusted individuals within a designated group. "PhonePe reportedly planning $1.5bn India IPO – report " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time of India
24-06-2025
- Business
- Time of India
PhonePe prepares for $1.5 billion IPO: All you need to know
Digital payments and financial services platform PhonePe is gearing up for a $1.5-billion initial public offering (IPO) later this year. The Walmart-backed company has tapped Kotak Mahindra Capital, JPMorgan Chase, Citigroup and Morgan Stanley to arrange the offering. Key details: Draft paper filing: The company may file its draft red herring prospectus (DRHP) by August. Target raise: It plans to raise around $1.5 billion through the listing, which is approximately Rs 13,000 crore, as per a Bloomberg report. Valuation: This would value the company at $15 billion, a significant jump over its last private valuation of $12 billion, in 2023. Live Events Key developments Flipback to India: In 2022, PhonePe, which was domiciled in Singapore, redomiciled to India. This is an important legal step for companies planning to list on Indian stock exchanges. The fintech firm was the first of many startups that returned to India driven by better listing prospects and regulatory ease. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The fintech firm added that it had also moved the ownership of its recently acquired IndusOS Appstore (OSLabs Pte Ltd) from Singapore to India. Fundraise: In May 2023, PhonePe completed raising $850 million in multiple rounds from General Atlantic, Ribbit Capital, Tiger Global and Walmart. It was valued at over $12 billion after these funding rounds. Between 2020 and 2023, the company's valuation more than doubled from $5.5 billion to $12 billion. Financials: PhonePe narrowed its net loss by 29% in financial year 2024 to Rs 1,996 crore, from Rs 2,795 crore in FY23. The improved financial performance was backed by 74% growth in its operating revenue to Rs 5,064 crore, from Rs 2,914 crore a year before. February 2025: The company publicly stated its intention to list on Indian bourses. The fintech startup did not give a timeframe for the IPO, saying the plans were initiated after considering revenue growth and improvement in its path towards profitability. April 2025: The digital payments firm transitioned from a private entity to a public company in April, according to filings with the Registrar of Companies (RoC). The conversion was approved by the company's shareholders through a special resolution passed at an extraordinary general meeting held on April 16. Diversification woes PhonePe is the market leader in the Unified Payments Interface (UPI) space, and even though it has diversified to become a full-stack financial services platform, offering credit, insurance, and stockbroking over the past three years, UPI remains its core business. In FY24, PhonePe's financial services business brought in Rs 207.4 crore—a mere 4% of its Rs 5,064 crore total revenue. While the company has multiplied its revenue over the last few years, crossing the Rs 5,000-crore mark in overall income last year, diversifying its income streams is proving harder than expected.
