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Copia Kenya's board has placed the struggling e-commerce company into administration as it seeks to save the business amid recent turmoil. The company announced on Friday that it had hired Makenzi Muthusi and Julius Ngonga of consulting firm KPMG to lead an administration process aimed at keeping the company as a going concern. Administration refers to the process whereby an insolvency trustee is appointed to restructure a business by ensuring it continues to operate, with a view to turning the business around or, as a last resort, conducting an auction of assets to protect the interests of creditors. “Copia Kenya's…

Google has invested about $350 million in Walmart Inc.'s Flipkart, valuing the local company at nearly $36 billion, as India's e-commerce market booms amid a booming digital economy. Flipkart said in a statement that it had added Google as a “minority investor” in the e-commerce platform as part of its latest funding round led by Walmart, though the company did not disclose financial details. The move, which comes at a time when India's digital economy is growing rapidly, is subject to regulatory and other customary approvals by both sides, the local e-commerce company said in a statement. “Google's proposed investment…

The e-commerce market is booming, with global sales expected to reach $6 trillion this year. While this growth is a win for innovative brands and retailers who have mastered online sales, a dark cloud hangs over the industry: shipping and fulfillment challenges. In UPS Capital's latest survey of retailers and consumers, the “2024 Midyear Shipping Excellence Guide,” researchers found weaknesses in several areas. While most retailers are confident about a 30% increase in order volume, there is a gap between their capabilities and consumer expectations: 42% of retailers and brands surveyed said it takes more than two days to fulfill…

Next Article India's e-commerce market will reach $133 billion by next year What is the story Google has announced a major investment of around $350 million in Flipkart, India's leading e-commerce platform. The investment is part of a larger fundraising round launched by Flipkart in 2023, which also saw contributions from other prominent investors such as Walmart. The multinational retailer led a funding round last year with a massive investment of $600 million. Google's broad strategy and Flipkart's advantage Google's investment in Flipkart is in line with the company's broader strategy of investing in Indian companies, including a $10 billion…

Internet giant Google has proposed to invest in e-commerce giant Flipkart for a minority stake in the company's new fundraising round, the Walmart Group company said on Friday.”As part of its latest funding round led by Walmart, Flipkart today announced that Google will acquire a minority investor, subject to regulatory and other customary approvals by both parties,” Flipkart said in a statement.The tech giant is reportedly planning to invest $300-350 million in Flipkart.With Google's proposed investment and cloud collaboration, Flipkart will be poised to scale its operations, modernize its digital infrastructure, and elevate customer experience across the country.”Google's proposed investment…

Photos: Selvaprakash LakshmananThe e-commerce giant has seen steady growth since its entry into India in 2013, but the offline piece remains a challenge. After losing out on the Future retail acquisition, how does it plan to keep the growth engines revving? In mid-November last year, Manish Tiwary, Amazon India’s Country Manager, made a presentation to the parent company’s external board at its Seattle headquarters. Tiwary spoke not just about the opportunities in India but also about innovations on the customer and seller fronts and the vast talent pool. The board, which includes eminent names such as India-born Indra Nooyi, a former…

Photos: Selvaprakash LakshmananThe e-commerce giant has seen steady growth since its entry into India in 2013, but the offline piece remains a challenge. After losing out on the Future retail acquisition, how does it plan to keep the growth engines revving? In mid-November last year, Manish Tiwary, Amazon India’s Country Manager, made a presentation to the parent company’s external board at its Seattle headquarters. Tiwary spoke not just about the opportunities in India but also about innovations on the customer and seller fronts and the vast talent pool. The board, which includes eminent names such as India-born Indra Nooyi, a former…

When Reliance outdid Amazon in 2022 and signed new lease agreements with owners of over 800 Future Retail stores, the company dealt a blow to the American giant's offline plans in India. After many twists and turns and legal battles, what was expected to be an easy acquisition of Future Retail by Amazon through its purchase of a 49% stake in Future Coupons has now become unclear. The offline business was supposed to give Amazon India a key growth engine in a complex and dynamic market. Despite this setback, Amazon India is busy doubling down on its growth plans. In…

[Photo provided to chinadaily.com.cn] Business opportunities could be explored in the development of Silk Road e-commerce, which would help meet the increasingly sophisticated demands of Chinese consumers and promote the development of digital economies in countries participating in the Belt and Road Initiative, experts and business executives said on Friday. They made the remarks on Friday at the Silk Road E-Commerce Think Tank Forum, co-hosted by the Belt and Road Institute of Global Governance at Fudan University and Shanghai's Yangpu District Commission of Commerce. Chen Wenling, chief economist at the China Center for International Economic Exchanges, said trade between China…

Here are some of the AI ​​news and developments from the past week or so (in no particular order): Truecaller and Microsoft enable AI voice for call answering. Truecaller has partnered with Microsoft's Azure AI Speech to allow users to create an AI version of their own voice to answer calls. The new feature builds on Truecaller's AI assistant, introduced in 2022, which screens incoming calls and informs users of the purpose of the call. The AI ​​voice is generated from clips recorded by users, providing enhanced personalization. Why it matters to marketers: This development demonstrates the potential of AI…