ECOMMERCE GOOGLE ONDC
Oyo readies market debut; IT's comeback rally
Oyo's IPO plans are back on track after securing the regulator's nod. This and more in today's ETtech Top 5.
ONDC raises Rs 220 crore from Zoho, Uber, Paytm, BSE; eyes additional capital
While Zoho Corporation has invested Rs 70 crore as a part of this round, Uber and Paytm have invested Rs 60 crore each. BSE Technologies has injected Rs 30 crore into the government-backed digital commerce entity.
$250K funding for ONDC hackathon topper firms
The Build for Bharat initiative was started in New Delhi in December last year in collaboration with the government’s Startup India platform, Google Cloud India, Antler in India, Protean and Paytm. It was organised in more than 50 cities with experts, leaders, venture capitalists and incubators onboard.
BHIM looks to bulk up with ONDC to take on digital payment heavyweights
NPCI-built app to foray into ecommerce space via separate division. Despite marketing challenges, BHIM aims to improve user experience through partnerships and new initiatives like BHIM 2.0.
More than 20 ecommerce firms adopt Google Cloud-ONDC’s Open Commerce solution
Google Cloud’s Vertex AI platform will enable buyers and sellers to transact via voice commands in regional languages, automatically translate catalogues, and complete the buying journey without typing.
Crisis deepens at Dunzo as it further delays staff salaries; Indian investors double down on Big Tech stocks
Dunzo told employees that it understands the delay in salaries is ‘very difficult’ and that the firm appreciates the patience.
Plotch partners with Google Cloud to help ONDC network integration
Called Nodebox, the solution is powered by Google Cloud’s open source solution and bundled with Google Cloud infrastructure.
Google sets billing option deadline; Flipkart head of new biz Adarsh Menon quits
Despite an ongoing legal tussle with startup body Alliance of Digital India Foundation, Google has asked Indian app developers to adopt one of its three billing options, failing which it warned that apps may be removed from the Play Store. This and more in today’s ETtech Top 5
ONDC has potential to dilute market concentration
Platform fees for food delivery using ONDC are being reported at a fifth of those charged by the market leaders. This is a considerable reduction in the cost of intermediation. This also holds out the potential to break the dominance of Swiggy and Zomato, and eventually even that of retail platforms like Amazon and Flipkart.
Over 9,000 startup jobs slashed between Jan-March; betting, gambling apps advertise despite ban
Layoffs in the startup and tech ecosystem have continued into 2023, according to data from recruitment platform Careernet. The situation might not get better any time soon. This and more in today’s Morning Dispatch.
IT firms could buy tech captives of crisis-hit banking sector; Hindenburg accuses Jack Dorsey's Block of $1B fraud
Several analysts believe that the global capability centre (GCC) ecosystem has significantly changed since the 2008 crisis stage and that the current crisis would result in an increase in GCC investments in the country.
For small stores to be big e-league
UPI has, however, exposed the limitations of technology to improve competition. The platform is overwhelmingly dominated by PhonePe and Google Pay despite regulators seeking enhanced competition. ONDC, too, requires supporting regulation to break market silos. By itself, it has the potential to democratise ecommerce. But liabilities need to be apportioned judiciously along the value chain.
Delhivery net loss more than triples in Q1, Microsoft joins ONDC
Delhivery, which went public in May, has reported a net loss of Rs 399 crore for the quarter ending June 30, more than tripling the Rs 130 crore net loss it clocked in the same quarter of 2021
SoftBank, Sequoia, other VCs push ONDC to portfolio firms
The Indian Venture Capital Association (IVCA) also recently held a meeting with the ONDC team to understand how various startups could collaborate on the network.
ONDC sets up industry working groups to create building blocks for base network
The ONDC initiative aims to offer a fair playing field for e-commerce organisations and there is a need to offer sellers and customers the best price for products, he said.
ETtech Explainer | ONDC: India's bid to break ecommerce monopolies
The network, which aims to democratise ecommerce by putting more kiranas and unorganised retailers online, was launched as a test in Bengaluru and four other cities, with plans to expand to 100 locations across the country by August.
Now, Google in talks to join ONDC; Purplle may raise fresh funds at $800 million valuation
Google is also in talks to partner with ONDC, which it sees as a means of discovering businesses.
Google is in talks to join govt’s open etail network
At present, Google's talks are “exploratory” and have spanned across different businesses within Google including search and payments, according to one person cited above who said, “there is a definite interest” in engaging with the ecommerce network.
Ecomm giants queue up for ONDC; ecomm enablers bag big bucks
India’s Open Network for Digital Commerce aims to counter the market power of large ecommerce companies such as Amazon, Flipkart and Reliance Retail by connecting buyers and sellers through open protocols, irrespective of which platform(s) they may be listed on. Why, then, are these very ecommerce giants lining up to join it?
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