While there was a 60-day exit clause, they violated the contract by backing out 15 days before the event.
All I am supposed to do is buy minimum Rs. 5,000/ worth of product from Snapdeal and the deal will be automatically activated.
The private cloud solution has been built and operationalized in under a year and is timed to handle long-term growth in traffic.
If the company fails to raise a fresh funding soon, the company may even shut down a few offices in the next six months.
Kunal Shah, currently the CEO of FreeCharge will now be the Chairman of the Company. Govind, joined Freecharge in August 2015 and is currently the Chief Operating Officer at FreeCharge.
Founded by Saurabh Nangia and Rahul Singh in March 2013, TargetingMantra has offices in Palo Alto and Gurgaon.
Snapdeal recently raised $200 million led by Canada’s Ontario Teachers’ Pension Plan at a valuation of $6.5 billion.
The court also asked Unicommerce to Unicommerce to pull down its YouTube advertisement or remove Paytm’s logo from it.
Paytm declined to comment and said no statement has been given by the company so far.
In order to attract more foreign investments, Department of Industrial Policy and Promotion on Tuesday has permitted 100 per cent Foreign Direct Investment in the market place format of e-commerce retailing. DIPP has also come out with definitions of ‘e-commerce’, ‘inventory-based model’ and ’market place model’, to bring out more clarity on which companies will be able to benefit out of the new permits.
Chinese e-commerce giants Alibaba Group is evaluating options to enter Indian e-commerce industry in 2016. Alibaba is planning to enter in to the market as a standalone entity and run parallel to its investments in existing players such as Paytm and Snapdeal.
A Btech student purchased iPhone 5S for Rs 68 but Snapdeal refused to deliver.On March 26, 2015, the forum ordered Snapdeal to sell the iPhone 5S for Rs.68. Now, the ecommerce platform has been fined Rs 10,000 by the State Consumer Dispute Redressal Commission after its appeal against the order was dismissed.
Delhi based e-commerce player Snapdeal has raised $200 million led by Canada’s Ontario Teachers’ Pension Plan. Iron Pillar and other investors also participated in the funding round. The company had earlier raised $500 million from Alibaba Group, Foxconn Technology Group and existing investor Softbank Group.
The government wants to replace all 77 crore incandescent bulbs sold in India with LED bulbs. A tie-up with Snapdeal would help the government expand its marketing and distribution reach over 5,000 cities. The annual saving in electricity bills is estimated at Rs 40,000 crore.
Jasper Infotech the owner of Snapdeal, has reported a loss of Rs 1,328.01 cr for the year ended 31 March 2015. The company in the previous year reported a loss of Rs 264.6 crore. Snapdeal’s loss has grown five-fold in last one year. Flipkart had reported a loss of Rs.2,000 cr for the year ended 31 March.