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Flipkart opens up Ekart 🚚, WhatsApp to offer cashback 💵, Tesla loses $126 Bn 📉
Flipkart opens up Ekart to other ecommerce firms, WhatsApp plans cashback for peer transfers, Tesla loses $126 bn in value, Funding Deals & more.
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Flipkart opens up logistics arm to other ecommerce firms🚚
Ecommerce major Flipkart has opened up its internal logistics arm Ekart to other ecommerce players. Flipkart Group CEO Kalyan Krishnamurthy also discussed this at a company town hall on Wednesday.
Flipkart and Amazon India service most of their orders through their in-house logistics firms – Ekart and Amazon Transport Services -- while others such as Meesho and direct-to-consumer brands work with third-party companies such as Delhivery, Ecom Express and Xpressbees.
While Ekart has opened itself up to external customers, it is unlikely to do business with Amazon India or Meesho as they are direct competitors.
WhatsApp plans cashback for peer transfers, merchant payments in India push💵
WhatsApp will within weeks roll out cashback rewards to lure more Indians to its peer-to-peer payments service and is testing similar incentives for merchant payments, as the company seeks to compete with rivals including Google.
The latest move comes days after WhatsApp won regulatory approval to more than double its payments offering to 100 million users in India, its biggest market with more than half a billion users overall.
WhatsApp will before the end of May launch the cashback offer of up to Rs 33 for transfers users make on its payments service, which allows contacts to send each other funds from within the messenger app.
Online furniture and home decor platform Woodenstreet.com has raised around $30 million in Series B funding round led by WestBridge Capital.
D2C fresh meat unicorn Licious has invested $1 million in a Bengaluru-based fresh pet food startup, Pawfectly Made.
BGAUSS, an electric two-wheeler startup has raised Rs 52 crore from a group of investors including Darshan Patel, Founder, Vini Cosmetics in its Series A funding round.
Agritech startup Poshn has raised Rs 28.8 crore in seed funding round led by Prime Venture Partners and participation from Zephyr Peacock.
Conversational AI startup Convin.ai has secured Rs 16 crore in its seed funding round led by Kalaari Capital.
Tea brand Teamonk has raised ₹3.5 crore in a pre-series A round led by Inflection Point Ventures.
Tesla loses $126 bn in value amid Musk Twitter deal funding concern📉
Tesla has lost $126 billion in value amid investor concerns that Chief Executive Elon Musk may have to sell shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter.
Tesla is not involved in the Twitter deal, yet its shares have been targeted by speculators after Musk declined to disclose publicly where his cash for the acquisition is coming from.
The 12.2 percent drop in Tesla's shares equated to a $21 billion drop in the value of his Tesla stake, the same as the $21 billion in cash he committed to the Twitter deal.
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