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Google Invests $350M in Walmart’s Flipkart

Flipkart said it has added Google as a “minority investor” in the e-commerce platform as part of the latest funding round led by Walmart….reports Asian Lite News

As the Indian e-commerce space heats up with a spurt in the digital economy, Google has invested nearly $350 million in Walmart-owned Flipkart, taking the homegrown company’s valuation at nearly $36 billion.

In a statement, Flipkart said it has added Google as a “minority investor” in the e-commerce platform as part of the latest funding round led by Walmart.

The company, however, did not disclose the financial details.

The move, coming at a time when the Indian digital economy is growing at a much faster pace, is subject to receipt of regulatory and other customary approvals by both parties, the homegrown e-commerce firm said in a statement.

“Google’s proposed investment and its Cloud collaboration will help Flipkart expand its business and advance the modernisation of its digital infrastructure to serve customers across the country,” it said.

Established in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India’s digital commerce revolution. Currently, it has a registered user base of more than 500 million and the marketplace offers over 150 million products across more than 80 categories.

According to the company, there are over 1.4 million sellers on the platform, including Shopsy sellers.

Earlier this week, the e-commerce platform said it has clocked 1.6 times growth (year-on-year) in its grocery business. The company has launched 16 grocery fulfilment centres across key locations in the country.

Flipkart Grocery offers next-day deliveries in over 200 cities, including tier 2 and beyond towns and cities.

“As we expand our footprint and enhance our service offerings, we remain dedicated to delivering unparalleled convenience to millions of customers across India,” said Hari Kumar G, Vice President, Head of Grocery, Flipkart.

While essential staples such as oil, ghee, atta, tea, coffee, detergents and personal care saw 1.6 times growth, the company said it also witnessed strong growth across essential and non-essential items, with an increase in liquid detergents by 1.8 times, dry fruits by 1.5 times and energy drinks by 1.5 times, among others.

Led by e-grocery, India’s quick commerce market is set to witness 15 times growth by 2025, reaching a market size of nearly $5.5 billion, according to market research firm Redseer.

Flipkart has launched 16 grocery fulfillment centres across key locations in the country which serve 66,000 grocery orders per day.

As the e commerce battle intensifies in India, E-commerce giant Amazon has pumped Rs 1,600 crore into its India arm, Amazon Seller Services, a regulatory filing by the company has shown.

The investment comes as India’s e-commerce growth is expected to reach $200-230 billion by 2030, a steady 20-22 per cent rise.

According to Amazon’s filing in the US, “The Board is hereby accorded for allotment of 1,66,00,00,000 (One hundred sixty six crore) equity shares of Rs 10 each aggregating to Rs 16,60,00,00,000 (One thousand six hundred sixty crore) to the existing shareholders on right basis”.

This is the second time when the e-commerce giant has infused money into Amazon Seller Services this year.

In February, the US-based parent company infused Rs 830 crore into its India entity.

Recently, Walmart invested $600 million into homegrown rival Flipkart.

The e-commerce war in the country has intensified as India, a growing economy, is set to add a new user base of almost 210 million shoppers by 2030 from the current 240 million users.

Most of these new users are expected to be from tier 2 and beyond cities, according to market research firm Redseer.

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Amazon, Flipkart Accused of Skirting Indian Regulations

Amazon or Flipkart did not immediately comment on the report….reports Asian Lite News

Foreign e-commerce players like Amazon and Walmart-owned Flipkart are circumventing rules and laws in their relentless pursuit of capturing the Indian market, often resorting to unethical business practices, Praveen Khandelwal, Secretary General, Confederation of All India Traders (CAIT) and a BJP candidate for Lok Sabha, said on Saturday.

Reacting to a TV media report that the Competition Commission of India (CCI) has found alleged irregularities in its probe against e-commerce companies like Amazon and Flipkart and their links with mobile manufacturers, Khandelwal told IANS that this “nexus” between e-commerce giants and mobile companies “undermines the country’s broader interests.”

Amazon or Flipkart did not immediately comment on the report.

“For years, we have been highlighting the persistent problem of foreign e-commerce companies circumventing rules and laws in their relentless pursuit of capturing the Indian market, often resorting to unethical business practices,” said Khandelwal, BJP candidate from Chandni Chowk Lok Sabha constituency in the Capital.

He said that this “intricate web” involves collaboration between e-commerce giants and mobile companies, which undermines the country’s broader interests and “threatens the livelihoods of small traders.”

In February this year, the retail traders’ body had written to the CCI, seeking urgent steps in the Delhi Vyapar Mahasangh case involving the anti-competitive practices of Amazon and Flipkart.

In a letter to the CCI Chairperson Ravneet Kaur, the CAIT said the market regulator “must attach utmost priority to the case and pass final penalty order and direction to Flipkart and Amazon to stop their illegal activities, as the outcome of the case has a serious bearing on the survival of lakhs of retailers and their families.”

“These foreign entities have indulged in monopolisation of sales of mobile phones through exclusive launch,” the CAIT letter had alleged.

Khandelwal told IANS that it is imperative that decisive action be taken against these companies now.

“Once the general elections are concluded and if elected as an MP, I am committed to advocating for addressing this issue,” he added.

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Business Economy Fashion

Amazon Unveils ‘Bazaar’

The e-commerce giant also mentioned that Bazaar will offer sellers access to tens of millions of customers, “hassle-free” delivery and levy zero referral fee….reports Asian Lite News

E-commerce giant Amazon is set to launch a low-priced fashion and lifestyle vertical called ‘Bazaar’ in India.

According to a communication the company has sent to its partners, the new vertical Bazaar is a special store where no “extra charges” will be imposed on vendors supplying unbranded and “trendy” fashion and lifestyle products, reports TechCrunch.

“Your products will be featured in a special store on Amazon, making them easy for customers to find,” the company wrote in the communication.

The items sold via Bazaar will be priced under Rs 600, the report noted.

In the communication, the e-commerce giant also mentioned that Bazaar will offer sellers access to tens of millions of customers, “hassle-free” delivery and levy zero referral fee.

Meanwhile, net sales for Amazon increased 14 per cent to $170 billion in the holiday quarter that ended December 31, 2023, compared with $149.2 billion in the fourth quarter of 2022.

Amazon CEO Andy Jassy said the past holiday season was “record-breaking.”

Net income increased to $10.6 billion in the fourth quarter of 2023, compared with $0.3 billion in the fourth quarter of 2022. Amazon Web Services (AWS) segment sales increased 13 per cent year-over-year to $24.2 billion.

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Layoffs Hit Tech Titans

Amazon-owned live game streaming platform Twitch is reportedly laying off 35 per cent of its workforce, or about 500 employees, this week….reports Asian Lite News

Amazon is reportedly laying off several hundreds of employees in its Prime Video and MGM Studios.

Mike Hopkins, Senior Vice President of the division, announced the cuts in an email on Wednesday, saying that the reason for the reduction is to “reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact”, reports TechCrunch.

The company has also started to notify the affected workers in the US and will inform most other regions by the end of this week.

Affected employees are provided with packages that include separation payments, transitional benefits, and external career transition support, the report mentioned.

“Our prioritisation of initiatives that we know will move the needle, along with our continued investments in programming, marketing and product, positions our business for an even stronger future,” Hopkins said.

Meanwhile, Amazon-owned live game streaming platform Twitch is reportedly laying off 35 per cent of its workforce, or about 500 employees, this week. Twitch laid off dozens of employees last year, and has shut down its service in South Korea due to “prohibitively expensive” costs.

According to a Bloomberg report, the fresh job cuts, “which could be announced as soon as Wednesday”, come amid concerns over losses at Twitch.

Meta Joins Layoff Club

Meta has started the New Year with laying off some technical programme managers (TPMs) at Instagram and reports said that at least 60 such jobs are either being consolidated or eliminated.

According to a post on Blind, an anonymous forum and community for verified tech employees, the company has given these employees time until the end of March to re-interview for product management roles or other jobs.

A verified Meta professional noted in the thread that job cuts “will soon (be) expanded to other orgs for TPMs”.

It means other technical programme managers at Meta may also find their roles consolidated or reorganised away.

“Meta layoffs: all TPMs in Instagram laid off today. Confirmed by my spouse who works there. She is not in the Instagram org and not affected. Product managers are not affected,” read another Blind post.

According to Business Insider, at least 60 such employees have lost their jobs.

TPMs are somewhere positioned between technical workers like engineers and product managers (PMs).

A former Instagram employee posted to LinkedIn about “expected changes to TPM roles,” saying that people are expected to “re-interview for PM roles” or product manager roles.

Meta did not immediately comment on these layoffs.

After planned mass layoffs last year, Meta Founder and CEO Mark Zuckerberg has not denied “that more jobs would be eliminated in the future”.

According to the report, he was still aiming to reduce the company’s overall headcount to that of 2020 before it went on the mass hiring spree.

In March last year, Zuckerberg announced the company would cut 10,000 jobs in the coming months, along with newly reorganised teams and management hierarchies.

The fresh cuts came just four months after Meta laid off 11,000 employees, or 13 per cent of the company’s workforce, in November 2022.

Google Axes AR Staff

Google is laying off hundreds of hardware employees, especially in the augmented reality (AR) division while Fitbit co-founders James Park, Eric Friedman and other Fitbit leaders are reportedly leaving the company.

Google had acquired wearable company Fitbit for $2.1 billion in 2019.

“A few hundred roles are being eliminated in DSPA (Devices and Services) with the majority of impacts on the 1P AR Hardware team,” a Google spokesperson said in a statement.

The Devices & Services teams are responsible for Pixel, Nest, and Fitbit devices. “While we are making changes to our 1P AR hardware team, Google continues to be deeply committed to other AR initiatives, such as AR experiences in our products, and product partnerships,” the spokesperson told 9to5Google.

The company said that it remains committed to “serving our Fitbit users well, innovating in the health space with personal AI, and building on the momentum with Pixel Watch, the redesigned Fitbit app, Fitbit Premium service, and the Fitbit tracker line”.

“This work will continue to be a key part of our new org model,” said the tech giant.

Google is switching to a functional organisation model where there will be one team responsible for hardware engineering across Pixel, Nest, and Fitbit hardware. There will be a single leader for such products across all Google hardware, according to reports.

Google has shifted its work on AR to the Android and hardware teams.

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Amazon’s Climate Pledge Advances

The one-megawatt (MW) proton exchange membrane electrolyser is the first for Amazon and is producing low-carbon hydrogen to fuel more than 225 hydrogen fuel cell-powered forklift trucks at the site….reports Asian Lite News

Amazon has announced plans to produce hydrogen fuel at its fulfillment centres and has partnered with hydrogen company Plug Power to install the first electrolyser (equipment that can split water molecules to produce hydrogen) at a fulfillment centre in the state of Colorado in the US.

The one-megawatt (MW) proton exchange membrane electrolyser is the first for Amazon and is producing low-carbon hydrogen to fuel more than 225 hydrogen fuel cell-powered forklift trucks at the site.

“Hydrogen is an important tool in our efforts to decarbonise our operations by 2040 in support of The Climate Pledge, and we’re excited about our ability to produce hydrogen at Amazon facilities through this partnership with Plug,” said Asad Jafry, the director of global hydrogen economy at Amazon.

“On-site production will make the use of hydrogen even more energy efficient for certain locations and types of facilities,” he added.

The Plug 1MW electrolyser, which uses electricity and water to produce hydrogen, is able to support up to 400 hydrogen fuel cell-powered forklift trucks.

The hydrogen produced by the electrolyser will be compressed on site and stored in a gaseous hydrogen storage tank for use by the forklift trucks.

“In Amazon, we have a true partner that recognises the essential role hydrogen plays in our collective energy future,” said Plug CEO Andy Marsh.

“This project demonstrates Plug’s ability to execute across the full hydrogen value chain, and shows how we can design and implement end-to-end solutions for our customers.”

To date, Plug has collaborated with Amazon to deploy more than 17,000 fuel cells to replace batteries in forklifts in more than 80 fulfillment centres in North America.

For most of these locations, hydrogen to power the forklifts is produced elsewhere, liquified, and delivered by trucks to an on-site storage and dispensing system.

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Tech Lite Technology USA

Amazon’s ‘AI Ready’ initiative to skill 2 mn people in GenAI by 2025

These courses augment more than 80 free and low-cost AI and generative AI courses and resources provided through AWS…reports Asian Lite News

Amazon on Thursday launched the ‘AI Ready’ initiative to provide free generative AI skill training to two million people by 2025.

To support professionals in the workplace, Amazon Web Services (AWS) is announcing eight new, free AI and generative AI courses which are open to anyone and aligned to in-demand jobs.

These courses augment more than 80 free and low-cost AI and generative AI courses and resources provided through AWS.

Amazon also launched AWS Generative AI Scholarship and collaboration with Code.org to help underrepresented and underserved students gain access to next-generation tech education.

Through the AWS Generative AI Scholarship, AWS will provide Udacity scholarships, valued at more than $12 million, to more than 50,000 high school and university students from underserved and underrepresented communities globally.

A new AWS study found strong demand for AI talent and the potential for workers with AI skills to earn up to 47 per cent more in salaries.

“Looking ahead, AI will only become more integral to the way business is done, with 93 per cent of businesses expecting they will be using AI solutions across their organization in the next five years,” the study noted.

Amazon’s new AI Ready commitment is in addition to AWS’s commitment to invest hundreds of millions of dollars to provide free cloud computing skills training to 29 million people by 2025, which has already trained more than 21 million people.

ALSO READ-Amazon Trims Workforce in India

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Business India News Technology

Amazon Trims Workforce in India

The number of employees being impacted by the decision in India could not be ascertained yet….reports Asian Lite News

Amazon has announced to lay off “several hundred employees” from its Alexa division, including in India, amid a renewed focus on artificial intelligence (AI).

The number of employees being impacted by the decision in India could not be ascertained yet.

The e-commerce giant will “communicate with impacted colleagues in India next week”.

In a memo sent to employees, Daniel Rausch, vice president of Alexa and Fire TV team, said that the company is eliminating “several hundred roles”.

“As we continue to invent, we’re shifting some of our efforts to better align with our business priorities, and what we know matters most to customers — which includes maximising our resources and efforts focused on generative AI,” he told employees in the memo.

“These shifts are leading us to discontinue some initiatives, which is resulting in several hundred roles being eliminated,” Rausch added.

He said that the company “will communicate with impacted colleagues in India next week, and are following local processes in other regions, which may include time for consultation with employee representative bodies, and possibly resulting in longer timelines to communicate”.

Amazon did not provide further details on the initiatives being discontinued.

The e-commerce giant had conducted layoffs in its Devices & Services division last year as part of company-wide cuts.

Rausch said that the investments in generative AI are bringing “our vision for an even more intuitive, intelligent, and useful Alexa closer than ever before”.

“We will reach out to colleagues in the US and Canada who are impacted by these role reductions. Notification emails will be sent out shortly, and we expect all notifications in the .S and Canada to be completed this morning (Pacific time),” the memo further read.

“To those of you impacted by these reductions, please know we did not make this decision lightly,” it added.

The company is providing impacted employees packages that include a separation payment, transitional health insurance benefits, external job placement support, and paid time to conduct job search.

Dave Limp, in charge of the Devices & Services division at Amazon, in August announced to leave the company.

Former Microsoft executive Panos Panay has succeeded him.

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Amazon Goes Green

The last-mile fleet programme is part of Amazon’s global goal to reach net-zero carbon by 2040…reports Asian Lite News

In a global first, Amazon on Tuesday launched its last-mile fleet programme in India with 100 per cent electric vehicles (EVs), that will help more than 300 delivery service partners (DSPs) to make customer deliveries with zero tailpipe emissions.

Operating effectively in North America and Europe, Amazon’s fleet programme is launching for the first time with entirely custom-designed EVs in India, making it convenient for DSPs to access safe, high-quality zero-emission vehicles for last mile deliveries.

The last-mile fleet programme is part of Amazon’s global goal to reach net-zero carbon by 2040.

“We are committed to be net-zero carbon by 2040, and decarbonising our delivery network is an important part of getting us to that goal,” said Abhinav Singh, VP of Operations, Amazon India.

“By launching the last mile fleet programme with an all-electric fleet in India, we help our delivery service partners decarbonise with us – and we’re delighted that India is the first country where we are able to do this,” Singh added.

In the initial phase of the programme, the company has introduced Mahindra Zor Grand three-wheeler EVs.

Its electric powertrain produces no emissions, making it ideal for areas with poor air quality.

Featuring a spacious 170 cubic feet delivery box and a 400kg payload capacity, it can handle daily shipments with ease.

This electric vehicle can travel through roads at speeds up to 50 kmph, and travel over 100 kms on a single charge.

“With zero tailpipe emissions and reliability at the core, our Mahindra Zor Grand will not only enhance cargo delivery efficiency but also contribute to improved air quality and lower driver fatigue,” said Suman Mishra, MD and CEO of Mahindra Last Mile Mobility.

With support from Mahindra Electric and other vehicle manufacturers, Amazon has deployed more than 6,000 electric vehicles to deliver packages in more than 400 cities across the country.

The company is on its way to achieve its goal of having 10,000 electric vehicles in its India fleet by 2025.

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Amazon’s Festival Draws Shoppers

E-taliers begin 2nd festive sale round after 7-day fiesta.

Prime members also purchased more than more than 75 smartphones per second in the first hour of sale during Prime Early Access, said the company….reports Asian Lite News

Amazon India on Tuesday said it witnessed a record 9.5 crore customer visits in the first 48 hours of its ‘Great Indian Festival 2023.’

Prime members shopping spiked 18 times in the first 24 hours of Prime Early Access (PEA) compared to average daily purchase during the sale, that started on October 7.

Prime members also purchased more than more than 75 smartphones per second in the first hour of sale during Prime Early Access, said the company.

Four out of every 5 smartphones sold in the first 48 hours were 5G ready. Premium smartphones (Rs 30,000 and above) witnessed 3 times growth versus last year.

“We are elated to witness the biggest ever opening with record customer visits, and highest number of Prime members shopping during the 24 hours of Prime Early Access. I’m thrilled to share our customer transactions and orders were the highest ever for Amazon.in, along with highest seller participation,” said Manish Tiwary, Vice President and Country Manager, India Consumer Business, Amazon.

 Over 65 per cent of sellers came from tier 2 and 3 cities. Amazon has 14 lakhs sellers in India.

The company saw more than 35 per cent increase in small and medium businesses securing sales within the initial 48 hours as compared to 2022.

Amazon Pay UPI sign-ups grew the highest ever at 37 per cent YoY, since its launch. The Amazon Pay ICICI Co-branded credit card usage also grew by 65 per cent, giving customers 5 per cent unlimited cashback rewards.

Most preferred smartphone brands were OnePlus, Samsung and Apple, among others.

Customer purchased more than 100 OnePlus smartphones every minute in the first 48 hours for the sale (2.5 times more than 2022). Samsung drove premium phone demand, with their flagship Galaxy S Series growing 3 times over the last year.

Customers also shopped for one TV per second with 80 per cent of all orders coming from Tier 2 and 3 cities/towns.

4K TVs were the most preferred and one in every three TV shoppers availed no-cost EMI option to make their purchase affordable.

Demand for large screen TVs witnessed a record growth of 260 per cent YoY, said the company.

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Shop Smarter: E-commerce Festive Sales Are Here

Amazon India has created more than 100,000 seasonal job opportunities across its operations network for the festive season…reports Asian Lite News

E-commerce giants Amazon, Flipkart, Myntra and others on Sunday began the festive season sales in India which is expected to reach Rs 90,000 crore worth online gross merchandise value (GMV) in the festive month — up 18-20 per cent from last year’s festive month sales.

Driven by about 140 million shoppers, online sellers, especially small ones, expect at least a 15 per cent jump in festive sales year-on-year, with the median growth figure of 26 per cent sales increase expected, according to market intelligence firm Redseer Strategy Consultants.

Amazon India has created more than 100,000 seasonal job opportunities across its operations network for the festive season.

The opportunities include direct and indirect jobs in cities such as Mumbai, Delhi, Pune, Bengaluru, Hyderabad, Kolkata, Lucknow and Chennai, among others. Myntra’s Big Fashion Festival, is now live with more than 23 lakh fashion, beauty and lifestyle products from over 6,000 leading international, domestic and D2C brands.

During the event, customers will have access to unmissable offers on thousands of domestic and international brands, as well as an additional 15 per cent off on using Myntra’s co-branded credit card in association with Kotak Mahindra Bank, to unlock more value on their festive purchases. Additionally, the shoppers can avail payment offers through partners like ICICI, Kotak, Paytm and Cred.

Snapdeal has also launched the first sale of the festive season called the ‘Toofani Sale-Festive Dhamaka’, from October 8-15. Consumer electronics brand Samsung has rolled out mega deals on a wide range of its televisions for the much-awaited festive season.

The offers are on Neo QLED TV, OLED TV, Crystal 4K iSmart TV, Crystal Vision 4K TV, QLED 4K TV, The Frame TV and more. “At Samsung, we are committed to enhance this festive cheer for our customers through exciting offers on our televisions. We are confident that our unique offers will add more joy to this festive season,” said Mohandeep Singh, Senior Vice President, Visual Display Business, Samsung India.

On purchase of select Neo QLED 8K & 4K TVs, consumers can get a free Galaxy S23 Ultra 5G worth Rs 124,999, a 50-inch The Serif TV worth Rs 69,990, The Freestyle projector worth Rs 59,990 or a Soundbar worth Rs 49,990, along with a 3-year comprehensive warranty on the Neo QLED TVs.

In exclusive partnership with top online retailer Flipkart, Blaupunkt, a German electronics brand, has announced hefty discounts on the whole range of TVs during the Flipkart’s ‘Big Billion Days’. Blaupunkt will offer customers incredible savings of up to 80 per cent on Smart TVs and appliances. The all-new TVs will start at an attractive price of Rs 6,299. The newly-launched 43-inch QLED is available at Rs 28,999.

“Flipkart’s The Big Billion Days accompanying the festive season is a great opportunity for us to provide our customers with Blaupunkt’s exceptional TVs to experience premium affordability,” said Avneet Singh Marwah, CEO of Super Plastronics Pvt Ltd (SPPL), exclusive brand licensee of Blaupunkt TVs in India.

According to Jagjeet Harode, Vice President – Electronics, Appliances and Private Brands at Flipkart, the customers across India can elevate their viewing experience by upgrading their TVs. “This collaboration with Blaupunkt’s new range is a significant addition to our marketplace, bolstering our offerings as we approach the festive season,” he said in a statement.

SPPL aims to do an overall business worth Rs 500 crore this festive season. In the smartphone segment, all major players have announced exciting promotions. Around 42 per cent Indians plan to buy a premium smartphone (Rs 30,000 and above) this festive season, and 5G, latest processor and RAM are the top specifications while making the purchase, according to Counterpoint Research.

Samsung, Apple and OnePlus are the most preferred brands this festive season. HTech, a comprehensive solutions provider, has announced their first festive sale offer for the latest HONOR 90 5G in India, offering discounts up to Rs 11,000.

According to the company, HONOR 90 can now be purchased at Rs 26,999 this festive season. OnePlus has extended offers to the recently launched OnePlus 11, OnePlus 11R, including the new OnePlus 11R Solar Red, as well as OnePlus Nord 3, the new OnePlus Pad Go and many more.

Starting October 7, the offers on the entire product portfolio are now live. Amazon has announced exciting offers on Echo, Fire TV, and Kindle devices during its ‘Great Indian Festival 2023. Customers can avail up to 55 per cent off on Echo smart speakers, Fire TV devices, Kindle e-reader, and Alexa smart home combos, said the company.

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