Udaan, Indigenous B2B E-commerce Giant, Secures 340 Million Dollars in Funding Round
The investment aims to bolster customer experience, market expansion, strategic partnerships with vendors, and fortify supply chain and credit capabilities.
Global TWS market slips 2%, entry-level devices help Indian brands grow
In India, local TWS brands such as boAt, Boult Audio and Noise reported strong double-digit YoY growth in Q2 2023 driven by a broader portfolio of entry-level models, according to the report by Counterpoint Research.
US sues eBay over selling products that can severely harm human health, environment
The complaint alleges that eBay sold, offered for sale or caused the sale of more than 343,000 aftermarket defeat devices, which defeat motor vehicle emission controls, a violation of the Clean Air Act (CAA).
FTC’s Lina Khan prepares huge lawsuit to ‘break up’ Amazon
According to a report in Politico, citing people close to the matter, the “wide-ranging lawsuit is expected as soon as August, and will likely challenge a host of Amazon’s business practices”. The lawsuit might lead to a court-ordered “restructuring of the $1.3 trillion empire”, the report noted.
We aim to localise 70% raw materials by 2023 end: Boult Audio CEO
In 2022, Boult Audio not only became India's second-largest audio brand by selling a TWS every 7 seconds across major marketplaces, but also dominated the smartwatch market by being the fastest-selling and highest-rated smartwatch brand on a leading e-commerce platform (Flipkart). "As Chinese companies have always experimented with lower prices, consumers are inclined towards purchase their products.
E-commerce giant eBay to lay off 500 employees
Jamie Iannone, CEO of eBay, announced the layoffs on Tuesday in a note to staff that was also filed with the US Securities and Exchange Commission (SEC). Iannone said that actions taken are designed to strengthen the company's ability to deliver better end-to-end experiences for its customers and to support more innovation and scale across the platform.
110,000 more users affected in 'LG Uplus' data breach
On January 10, the nation's third-largest wireless carrier disclosed that personal data of 180,000 customers, including their names, birth dates and phone numbers, had been breached. The company said on its website it found personal data of about 110,000 more customers, who had terminated their subscriptions, was also compromised, reports yonhap news agency.
Amazon to bring TikTok-like feed of shoppable content
'Inspire' is the company's attempt to get users to make purchases as they see products in online content, reports The Verge. The new feed option will appear as a lightbulb icon in the application and will roll out to select US users this month.
Amazon unveils design of new Prime Air delivery drone
The new 'MK30' drone will enter into service in 2024 and is expected to be 25 per cent quieter than current ones, the company said in a blogpost. "The purpose and objectives of the new drone are the same as its predecessor's designs: transport packages weighing up to five pounds while flying hundreds of feet in the air," it added.
India e-logistics industry set to touch $9 billion with e-commerce boom
"Thanks to new-age tech enabled players who have entered India's logistics arena, it is now easier for small- and medium-sized businesses to transport goods, and there is a drastic increase in the speed and efficiency in which parcels are delivered," says the report by Bengaluru-based Redseer Strategy Consultants.