snapdealphoto

With one login, @Snapdeal wants to do a @Facebook #eCommerce @1kunalbahl @FinancialXpress

Snapdeal is seeking to emulate social media giant Facebook in the commercial media space as it looks to expand its footprint. Kunal Bahl, CEO & co-founder, Snapdeal, is creating a clan of apps, just the way Facebook did with FB, Whatsapp, Instagram and Messenger. “Facebook had become a monolithic platform; now, they have a bunch of popular apps,” said Bahl.

Facebook bought Whatsapp and Instagram to complete the social media family. Likewise, Snapdeal has bought Freecharge, Rupeepower and Exclusively. “The e-commerce world will follow the same hierarchy as the social media,” said Bahl.

Bahl said it is critical for all apps to be accessed through a single-user account, which does not exist now, and that is what he’s working on. This is similar to what Facebook has done — providing access to its family of apps through a single-user account.

Freecharge is a mobile commerce platform where users can make DTH and utility payments through their mobile, across most major operators. “Every day, 75 million mobile recharges are done in India, but only 2.5 million are conducted online,” said Bahl.

Also, by taking a majority stake in Rupeepower, Snapdeal made its foray into financial services, such as distributing loans, instant loan approvals, credit cards and other personal finance products. Exclusively, on the other hand, deals in luxury fashion. “India is a $15-million luxury market, and a Jimmy Choo might not sell on Snapdeal,” said Bahl.

Analysts believe that Snapdeal is trying to build an ecosystem of apps for the commercial space. “Once a consumer enters the ecosystem of apps, he won’t need to go to other apps for his requirements,” said Sanchit Vir Gogia, chief analyst, Greyhound Research.

Talk about ecosystem, and it’s evident that Bahl does not want to leave any stone unturned. Through Capital Assist, a platform for sellers who give loans, Snapdeal has distributed R100 crore to create online entrepreneurs, typically sellers on Snapdeal.

Once the platforms are connected, Bahl expects a huge spurt in sales. For this, he has invested in GoJavas, a logistics company. Bahl said that GoJavas will build the captive capacity for Snapdeal at cheaper delivery rates. “When we have surge in orders, we know that we have built the capacity to furnish them,” said Bahl. Already, Snapdeal and GoJavas are trying services like three-hour delivery and try-and-buy services.

Snapdeal has already earmarked $1 billion for acquisitions. After financial services, luxury and mobile payments, Bahl will go for travel, healthcare and education. However, all investments will be towards building marketplaces, even in new businesses. “Why can’t we do healthcare consultation over mobile? The same applies for eduction — there are more students than teachers in this country,” he said.

The idea is to move away from pure-play e-commerce and look at consumption. While the consumption economy in the country is $1.3 trillion, retail is $500 billion, said Bahl. “Competitive advantage can’t last long in this market. We have to create a network.”

Mapping apps
* Creating a clan of apps as Facebook did with Whatsapp, FB, Instagram and Messenger
* Snapdeal has bought Freecharge, Rupeepower and Exclusively
* Once the platforms are connected, CEO Bahl expects a huge spurt in sales

Source: Financial Express

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microsoft nokia hands

In #India, @Microsoft Starts #Global #Rebranding of #Mobile Outlets #Press #Media #CommunicationsToday

Redmond, US-based Microsoft Corp., which acquired Finnish firm Nokia Oyj’s mobile handset business for $7.2 billion last year, has started a global rebranding of its retail outlets, starting with India, which hosts nearly half of all such outlets.

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Offline vendors using e-comm sites for bulk buying #Press #Media #HBL

Taking advantage of huge discounts available on online retail portals

Products, especially those that are not available in these cities, are a major draw. The businessmen buy these products from various e-commerce sites and sell it to consumers through physical shops.

“Whether it is a carton of shampoo or facial cream, these customers are ordering in bulk to set up their shops. So we are creating a market place for those vendors for products that are not available in those cities or towns and also with better offers (discounts),” Sanjay Sethi, co-founder and Chief Executive Officer, ShopClues, told BusinessLine.

Cost-saving step

Another advantage is that they do not have to travel to wholesale markets like Chandni Chowk or Nehru Place in Delhi to buy the required products as they are available at the click of a button. “We have more than 70,000 merchants listing for their products on our site and by end of this year we will probably reach around 1.50 lakh merchants. We are selling more than one million products (excluding books) and we will do around 1.50 million products by the year-end,” Sethi said.

Similarly, HomeShop18 said that the emerging cities in India are on a high growth trajectory and the future demand drivers for virtual retail in India.

With increasing adoption of TV and Internet, the small towns and cities are collectively consuming more than the metros when it comes to virtual shopping, the company said.

“These are exciting times and we are seeing the industry evolve rapidly. Most of our audiences live in tier-II and tier-III cities. HomeShop18 has seen a boom in demand for a wide range of brands that might be unavailable in these cities due to a lack of physical retail presence,” Sundeep Malhotra, Founder and CEO, HomeShop18, said.

To cater to this demand, traders and merchants in small towns place bulk orders for products across categories, he said, adding that some of the most popular categories in terms of bulk purchase are mobiles and tablets, apparel, and home and kitchen.

HomeShop18 is seeing demand from small towns in Guwahati, Jammu, Lucknow, Patna, Bhubaneswar, Surat, Nagpur, Darbanga, Agartala and Chandrapur.

“Customers from tier-II and -III cities form 40-45 per cent of our total customer base,” Malhotra added.

Emerging trend

According to analysts, this is a trend that has a lot of potential and e-commerce companies should milk the opportunity.

“Everything is available on their (e-commerce) portals for the same price in any given location in India. The advantage in buying products in bulk for shops in smaller towns and cities is quick delivery and availability of the product for tier-2 and -3 cities,” Sanchit Vir Gogia, Chief Analyst and CEO, Greyhound Research, said.

However, he also said that it is a given fact that a major chunk of targeted customer base for e-commerce industry is still not equipped to purchase online.

According to a recent joint study done by Assocham and PWC, the Indian e-commerce industry is expected to spend an additional $500-1000 million on infrastructure, logistics and warehousing, leading to a cumulative spend of $950-1900 million till 2017-20.

The e-commerce is expected to reach anywhere $10-20 billion by 2017-20.

Source: The Hindu Business Line

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Wipro Q1 profit up 29.5% as IT spending returns in North America #Press #Media #ZeeBiz

IT services major Wipro today reported a 29.5 percent growth in its consolidated net profit at Rs 2,103.2 crore for April-June period, helped by large deals in the application and infrastructure space.

The city-headquartered firm had posted a net profit of Rs 1,623.3 crore in the year-ago period, it said in a BSE filing.

Consolidated net sales rose by 15.5 per cent to Rs 11,245.5 crore in April-June quarter of the current fiscal from Rs 9,733.2 crore in the same quarter of 2013-14.

The figures are in accordance with International Financial Reporting Standards (IFRS).

Wipro Chairman Azim Premji said: “We see a significant rise in business confidence in developed markets as well as India.”

The new government at the Centre has brought about hope and confidence in the minds of all stakeholders through reform pronouncements with fiscal prudence, he added.

In US dollars, Wipro reported a net profit of $351 million and revenue of $1.9 billion.

Revenue from IT Services stood at $1.74 billion, a quarter-on-quarter increase of 1.2 per cent and year-on-year increase of 9.6 per cent. Wipro had guided this to be in the range of $1.715 billion-$1.755 billion.

For the July-September quarter, the IT services revenue is forecast to be in the range of $1.77 billion-$1.81 billion.

“We continue to win large deals particularly in the application and infrastructure space. We recently announced our largest ever total outsourcing deal,” Wipro CEO T K Kurien said.

These wins demonstrate confidence of clients in Wipro’s transformational capabilities and re-affirm their faith in its client engagement strategy, he added.

IT Services revenue in rupee terms was Rs 10,510 crore, an increase of 18 per cent year-on-year.

The IT services segment had 147,452 employees as of June 30, 2014 and the firm added 35 new customers for the quarter.

“We continue to drive operational efficiency and invest in our strategy. Operating margins for the quarter was on expected lines, impacted largely due to wage hikes,” Wipro CFO Suresh Senapaty said.

Analysts said the April-June quarter has been lukewarm for the country’s third largest IT services firm.

“Its been a lukewarm period overall for the IT industry at large, including Wipro. That said, few contracts over the last quarter has helped Wipro get access to more high-profile deals at a time when outsourcing demand looks stronger as compared to previous years,” Greyhound Research CEO Sanchit Vir Gogia said.

Wipro shares today rose by 1.31 per cent to close at Rs 576.80 apiece at the BSE.

Wipro’s IT products segment delivered revenue of Rs 770 crore, registering a decline of 6 per cent over the year-ago period, after Wipro’s strategy to focus on services business by engaging in selective transformational deals where products form an integral part of the solution.

Segment wise, BFSI contributed the most towards Wipro’s revenues in the first quarter followed by Manufacturing & Hi-tech, Energy, Natural Resources & Utilities, Global Media & Telecom, Retail, Consumer, Transport & Government and Healthcare & Life Sciences.

Geography wise, the US was the main revenue generator followed by Europe, Rest of the World and India.

Last week, Wipro had announced that it had entered into a multi-million dollar dual pact with ATCO through which the company will provide a complete suite of outsourcing solutions to the Canadian firm as well as acquire its IT services arm.

Wipro signed a series of Master Services Agreements with ATCO under which it will acquire ATCO’s IT subsidiary for an all-cash consideration of CAD 210 million ($195 million or over Rs 1,176 crore).

Besides, Wipro also secured a 10-year IT deal with ATCO for providing outsourcing services, that will result in annual revenues of over CAD 120 million ($112 million or over Rs 675 crore) for Wipro for the next 10-years.

Gogia said ATCO deal will definitely add to Wipro’s overall growth, particularly in the Utilities vertical.

“However, currently it is early to comment on the actual benefits and outcomes will only be visible once all formalities have been completed,” he added.

Going ahead, Gogia said the company is expected to gain substantially if it manages to crack the Rs 1,200 crore call centre deal from Reliance Communications.

Separately, its active conversations with the government on various pending issues like taxation and allotment of new SEZ are clear signs of the expected growth in the near future.

Wipro is also planning to invest in upcoming software firms, a clear sign of their intent to also sell software to their customer base, Gogia said.

Attrition still remains one of the key issues that the management needs to address, he added.

Gogia said attrition still remains one of the key issues that the management needs to address.

Wipro Senior VP Human Resources Saurabh Govil said: “We have RSUs, and salary increases so we expect to see impact of that in the coming quarters.

“Also, we are seeing that among the high performers at Wipro, attrition rates have fallen drastically, which makes for about 25 per cent of our total workforce.”

Last week, Wipro had announced that it signed a series of Master Services Agreements with ATCO under which it will acquire ATCO’s IT subsidiary for an all-cash consideration of CAD (Canadian dollar) 210 million (USD 195 million or over Rs 1,176 crore).

Besides, Wipro also secured a 10-year IT deal with ATCO for providing outsourcing services, that will result in annual revenues of over CAD 120 million (USD 112 million or over Rs 675 crore) for Wipro for the next 10-years.

Gogia said ATCO deal will definitely add to Wipro’s overall growth, particularly in the Utilities vertical. Going ahead, Gogia said the company is expected to gain substantially if it manages to crack the Rs 1,200 crore call centre deal from Reliance Communications.

Separately, its active conversations with the government on various pending issues like taxation and allotment of new SEZ are clear signs of the expected growth in the near future.

Wipro is also planning to invest in upcoming software firms, a clear sign of their intent to also sell software to their customer base, Gogia said.

Source: Zee Biz

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Wipro Q1 profit rises 29.5 per cent to Rs 2,103 crore #Press #Media #IBNLive

For the July-September quarter, the IT services revenue is forecast to be in the range of $1.77 billion-$1.81 billion

IT services major Wipro today reported a 29.5 percent growth in its consolidated net profit at Rs 2,103.2 crore for April-June period, helped by large deals in the application and infrastructure space.

The city-headquartered firm had posted a net profit of Rs 1,623.3 crore in the year-ago period, it said in a BSE filing.

Consolidated net sales rose by 15.5 per cent to Rs 11,245.5 crore in April-June quarter of the current fiscal from Rs 9,733.2 crore in the same quarter of 2013-14.

The figures are in accordance with International Financial Reporting Standards (IFRS).

Wipro Chairman Azim Premji said: “We see a significant rise in business confidence in developed markets as well as India.”

The new government at the Centre has brought about hope and confidence in the minds of all stakeholders through reform pronouncements with fiscal prudence, he added.

In US dollars, Wipro reported a net profit of $351 million and revenue of $1.9 billion.

Revenue from IT Services stood at $1.74 billion, a quarter-on-quarter increase of 1.2 per cent and year-on-year increase of 9.6 per cent. Wipro had guided this to be in the range of $1.715 billion-$1.755 billion.

For the July-September quarter, the IT services revenue is forecast to be in the range of $1.77 billion-$1.81 billion.

“We continue to win large deals particularly in the application and infrastructure space. We recently announced our largest ever total outsourcing deal,” Wipro CEO T K Kurien said.

These wins demonstrate confidence of clients in Wipro’s transformational capabilities and re-affirm their faith in its client engagement strategy, he added.

IT Services revenue in rupee terms was Rs 10,510 crore, an increase of 18 per cent year-on-year.

The IT services segment had 147,452 employees as of June 30, 2014 and the firm added 35 new customers for the quarter.

“We continue to drive operational efficiency and invest in our strategy. Operating margins for the quarter was on expected lines, impacted largely due to wage hikes,” Wipro CFO Suresh Senapaty said.

Analysts said the April-June quarter has been lukewarm for the country’s third largest IT services firm.

“Its been a lukewarm period overall for the IT industry at large, including Wipro. That said, few contracts over the last quarter has helped Wipro get access to more high-profile deals at a time when outsourcing demand looks stronger as compared to previous years,” Greyhound Research CEO Sanchit Vir Gogia said.

Wipro shares today rose by 1.31 per cent to close at Rs 576.80 apiece at the BSE.

Wipro’s IT products segment delivered revenue of Rs 770 crore, registering a decline of 6 per cent over the year-ago period, after Wipro’s strategy to focus on services business by engaging in selective transformational deals where products form an integral part of the solution.

Segment wise, BFSI contributed the most towards Wipro’s revenues in the first quarter followed by Manufacturing & Hi-tech, Energy, Natural Resources & Utilities, Global Media & Telecom, Retail, Consumer, Transport & Government and Healthcare & Life Sciences.

Geography wise, the US was the main revenue generator followed by Europe, Rest of the World and India.

Last week, Wipro had announced that it had entered into a multi-million dollar dual pact with ATCO through which the company will provide a complete suite of outsourcing solutions to the Canadian firm as well as acquire its IT services arm.

Wipro signed a series of Master Services Agreements with ATCO under which it will acquire ATCO’s IT subsidiary for an all-cash consideration of CAD 210 million ($195 million or over Rs 1,176 crore).

Besides, Wipro also secured a 10-year IT deal with ATCO for providing outsourcing services, that will result in annual revenues of over CAD 120 million ($112 million or over Rs 675 crore) for Wipro for the next 10-years.

Gogia said ATCO deal will definitely add to Wipro’s overall growth, particularly in the Utilities vertical.

“However, currently it is early to comment on the actual benefits and outcomes will only be visible once all formalities have been completed,” he added.

Going ahead, Gogia said the company is expected to gain substantially if it manages to crack the Rs 1,200 crore call centre deal from Reliance Communications.

Separately, its active conversations with the government on various pending issues like taxation and allotment of new SEZ are clear signs of the expected growth in the near future.

Wipro is also planning to invest in upcoming software firms, a clear sign of their intent to also sell software to their customer base, Gogia said.

Attrition still remains one of the key issues that the management needs to address, he added.

Gogia said attrition still remains one of the key issues that the management needs to address.

Wipro Senior VP Human Resources Saurabh Govil said: “We have RSUs, and salary increases so we expect to see impact of that in the coming quarters.

“Also, we are seeing that among the high performers at Wipro, attrition rates have fallen drastically, which makes for about 25 per cent of our total workforce.”

Last week, Wipro had announced that it signed a series of Master Services Agreements with ATCO under which it will acquire ATCO’s IT subsidiary for an all-cash consideration of CAD (Canadian dollar) 210 million (USD 195 million or over Rs 1,176 crore).

Besides, Wipro also secured a 10-year IT deal with ATCO for providing outsourcing services, that will result in annual revenues of over CAD 120 million (USD 112 million or over Rs 675 crore) for Wipro for the next 10-years.

Gogia said ATCO deal will definitely add to Wipro’s overall growth, particularly in the Utilities vertical. Going ahead, Gogia said the company is expected to gain substantially if it manages to crack the Rs 1,200 crore call centre deal from Reliance Communications.

Separately, its active conversations with the government on various pending issues like taxation and allotment of new SEZ are clear signs of the expected growth in the near future.

Wipro is also planning to invest in upcoming software firms, a clear sign of their intent to also sell software to their customer base, Gogia said.

Source: IBNLive

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