Walmarts’ International Numbers Are Being Led By Flipkart- Tempemail – Blog – 10 minute

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Walmart, US retail giant had reported on Tuesday that e-commerce had contributed 12 percent to its international sales, during the quarter that ended on January 31. This was being led by Flipkart, and online grocery delivery in various markets.
The company had in its fourth quarter earnings report that international sales had grown by 2.3 percent to $33 billion. This was despite a disruption in Chile, that had negatively affected operating income by $110 million. 
According to the CEO of Walmart, Doug McMillion, they would remain excited about the opportunity that they have there. He even said that the way Flipkart and PhonePe are scaling is impressive. 
It was added that Flipkart had over one billion visitors a month, with monthly active customers growing by around 45 percent, in the last one year. Even the transactions per customer have been increasing by 30 percent in the same period. 
The company even said that apart from Flipkart leading international e-commerce sales for Walmart, the unit had reported record sales during its BigBillionDays sale event last year. This was without breaking any specific numbers. 
Also on a full-year basis, Walmart had reported a reduction in free cash flow on account of including a full year of Flipkart’s operations, amid other factors. It was also reported by Walmart that free cash flow was down to $14.5 billion in the year that had ended Jan 31st. 

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Amazon, Flipkart Not In Favour of New Tax On Indian Online Sellers- Tempemail – Blog – 10 minute

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The possibility of implementing a 1 percent tax on each sale made by sellers on online e-commerce platforms is facing major resistance from online retailers, Amazon and Flipkart. This third-party tax proposition would be brought up at the Parliament next month. Ecommerce giants Amazon and Flipkart want a rollback on this tax as they believe it would hurt the fledgling e-commerce space. 
This taxation move is a part of the Government’s aim to increase tax revenues to combat the existing economic slowdown due to dropping consumer demand. As per a presentation by Federation of Indian Chambers of Commerce and Industry (FICCI) this tax will seriously impact the country’s growing e-commerce industry, as seen by Reuters. An increased compliance burden would affect retailers and also cause working capital concerns. 
There has been resistance from third-party sellers as well that have argued they already contribute through a sales tax to the nation. With this tax on their sales, it would become difficult for small businesses to sustain.
The tax would be exempted from online sellers as well as brick-and-mortar retailers that have a revenue of less than half a million rupees in the previous year. The Indian e-commerce industry is predicted to reach $200 billion by 2026 with the country moving to digital use for all kinds of activities. 
The US-India Strategic Partnership Forum (USISPF), an influential lobby group, has asked the Indian government to give some time leeway for e-commerce firms to comply with this tax proposal. They have suggested the tax be implemented on April 1, 2021, as reviewed by Reuters. 

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Flipkart Owned ‘Myntra’ Appoints Raghu Krishnananda As CTO- Tempemail – Blog – 10 minute

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Fashion based e-commerce platform Myntra has announced the appointment of Raghu Krishnananda, former Head of Service Platforms at Samsung Research Institute, as its Chief Technology Officer. 
Raghu has over two decades of experience in technology, leading teams in design, product development, technology strategy, and program management. In his previous role as the Head of Service Platforms at Samsung Research Institute in Bengaluru, he drove the design and development of Personalization and Monetization Platforms, as well as Mobile Payment, Digital Lending and Entertainment Services. 

Speaking on the occasion, Amar Nagaram, Head, Myntra, said, “Technology is the backbone of Myntra and plays a very important role in shaping our proposition. Raghu joins us at a very interesting juncture, where the larger emphasis is on consumer engagement through content, with technology as the enabler. His vast experience in the domain, backed by strong technology expertise will help us strengthen and lead the industry with innovation and value additions for our customers.” 

His technology expertise and experience in developing and managing large scale consumer platforms that encompass Big Data and Machine Learning defines his distinguished track record.  
Raghu has led R&D teams in the US and India, in companies such as Yahoo, Goldman Sachs and Citibank. While at Yahoo, he was in charge of the Yahoo Home Page and Entertainment websites globally, where he built engaging consumer experiences. 

Raghu Krishnananda, Chief Technology Officer, Myntra, added, “Fashion e-commerce penetration is expected to reach 15% of the total fashion spend in the country in 2020. This offers tremendous scope for further growth ahead. Technology has and will continue to enable innovative and engaging experiences to consumers, especially in the online fashion sector. Myntra is the market leader and has an inspiring mission to democratize fashion through technology. I am excited to join the talented team at Myntra and help achieve its goals.”  

Earlier this month, Flipkart decided to move its entire focus on Myntra by shutting down Jabong. Myntra was acquired by Flipkart in 2014 and in 2016 Myntra acquired Jabong which has now been sidelined. 

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Flipkart Sidelines Jabong With Focus Entirely on Myntra- Tempemail – Blog – 10 minute

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Shifting its entire focus to Myntra, e-commerce giant Flipkart has sidelined its 2016 acquisition of Jabong. The marketing spends have been reduced towards Jbaong and the site is also being redirected to Myntra. Jabong and Myntra are both fashion specific e-commerce platforms and they have both come under the umbrella of Flipkart. 
Myntra was acquired by Flipkart in 2014 after which Myntra acquired Jabong for $70 million in 2016. In 2018, Flipkart merged the two and laid off around 150 employees at the time. After Jabong’s acquisition, the company could not devise a long-term strategy for the portal and with this merge now, they still lead in fashion e-commerce. 
There was a non-impairment charge of $290 million taken by Walmart which acquired Flipkart in May 2019 for the trade name of ‘Jabong’ due to its investment in the same. 
Indian clothing market would become 6th largest globally by estimated market growth to $59.3 billion by 2022 and the online clothing platforms account less than 10% in organised apparel retailing. At the moment, Flipkart has dominance over 70% of the market. 
For Jabong, as per reports, there was already a decline in their business and growth by 12.7% towards the end of 2019, that is November and December specifically. They also recorded a loss of Rs. 22.41 crores in 2019 as compared to Rs. 39.5 crore profit in 2018. 

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What top enterprise VCs are thinking, using data effectively, ethics, Light, and Flipkart – gpgmail


Top VCs on the changing landscape for enterprise startups

gpgmail had our debut confab for enterprise types this week at Yerba Buena Center in SF, where we heard from Aaron Levie, CEO of Box, Apple VP Susan Prescott of Apple, and Microsoft Azure CTO Mark Russinovich. We were sold out, which perhaps isn’t all that surprising given the amount of interest in enterprise these days. Expect more events to come.

Our Silicon Valley editor Connie Loizos hosted a panel with leading enterprise VCs, and she selected the most interesting points from that conversation and from her calls with them for Extra Crunch members. Hear a bit from Jason Green of Emergence Capital, Rebecca Lynn of Canvas Ventures and Maha Ibrahim of Canaan Partners and what they are investing in these days.

And if you want to hear even more from Jason Green and yours truly, head over to gpgmail’s VC podcast Equity, where we shot live from Yerba Buena along with host Kate Clark with a special focus on enterprise startups.

Maha Ibrahim: I feel like people are focusing too much on metrics and not as much on [the total addressable market]. We make money [when a startup strikes on a] huge, huge market.

But there’s [also] so much correlation between consumer and enterprise startups in that we want customers that love the product. We want customers that come back and come back and come back to us, without us having to pay for them to come back. So the equivalent in a consumer company would be me having to spend advertising dollars to acquire that customer again, as opposed to that customer just coming back because he or she loves what I’m doing. The same goes for the enterprise.

How early-stage startups can use data effectively

Silicon Valley may be obsessed with using data to improve startup outcomes, but the reality is quite a bit more nuanced. Koen Bok, co-founder of interactive design tool Framer, has put together an extensive guide here on how to to use data — and when not to.


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Why Walmart’s Flipkart is betting heavily on Hindi – gpgmail


To win India’s next 200 million internet users, e-commerce giant Flipkart wants to speak their language

Flipkart, the largest e-commerce platform in India, said Tuesday it has concluded the roll-out of a range of features to its shopping app in what is its biggest update in recent years.

Chief among these new features is access to Flipkart in Hindi language. Prior to the revamp of the app, Flipkart was available only in English, a language spoken by 10% of India’s 1.3 billion population.

Flipkart says it is hoping that the new features, which includes a video streaming service, would help it reach the next 200 million users in India.

The major bet on Hindi, a language spoken by more than 500 million people in India, illustrates a growing push from local and international companies operating in the country as they adapt their services and business models to go beyond the urban cities.

And that’s where much of the opportunity, which countless startups and companies have trumpeted to investors to successfully raise hundreds of millions of dollars in debt and venture capital in recent years, lies in the nation.


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Amazon and Walmart’s Flipkart pledge to scrap single-use plastic packaging in India – gpgmail


Amazon India and Walmart’s Flipkart, two of the largest e-commerce businesses in India, have pledged to curb the usage of single-use plastic in their packaging in the country as they move to help New Delhi fight its ongoing battle with environmental pollution.

Amazon said on Wednesday it will replace all single-use plastic in its packaging by June 2020 with paper cushions. The move follows Flipkart’s announcement last week when it said it has already cut its reliance on single-use plastic by 25% and intended to move entirely to recycled plastic consumption in its supply chain by March 2021.

Amazon said it will use paper cushions to replace plastic dunnage like air pillows and bubble wraps across its fulfillment centers in India. “Paper cushions will be used to fill the void space inside packages to ensure that the product is well protected in transit,” the company said in a statement.

In a statement, Akhil Saxena, VP of Customer Fulfillment at Amazon India, said the company will also train its sellers who directly fulfill customer orders to curb their reliance on single-use plastic. “This investment in protecting the environment ensures a triple win — it is good for our planet, good for our customers and community, and good for the business,” he said.

The Indian government, which has previously acknowledged that the nation is getting flooded with plastic waste, is widely expected to announce major steps to cut down the usage of plastic-made bags, straws and cups on October 2.

“E-commerce companies are the ones creating all this waste, so the onus of recycling it has to be put on them as well,” environment secretary C.K. Mishra told Indian outlet Economic Times last week.

More to follow…


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