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News on Medial
Flipkart Rolls Out INR 3 Platform Fee
Inc42
·
11m ago
Medial
Flipkart has implemented a platform fee of INR 5 for its quick commerce service, Flipkart Minutes. This fee brings Flipkart in line with other similar quick commerce players like Swiggy's Instamart and Zomato's Blinkit. However, the fee does not apply to Flipkart Grocery or Cleartrip, the company's travel vertical.
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IPO-bound Swiggy shrugs off plans on doubling platform fee in near term
Inc42
·
1y ago
Medial
Swiggy has denied reports of doubling its platform fee on food orders, stating that it has no such plan for the near future. Speculations were rife that the food delivery aggregator would increase the fee from INR 5 to INR 10 to offset losses ahead of its upcoming IPO. The company clarified that it constantly experiments with offerings to understand user preferences and improve affordability. Swiggy's archrival, Zomato, recently raised its platform fee from INR 3 to INR 4. Swiggy's IPO is anticipated to take place in mid-2024.
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Platform Fee To Boost Zomato’s Customer Take Rate, Contribution Margin: Kotak
Inc42
·
1y ago
Medial
Zomato's introduction of a platform fee of INR 2 per food delivery order, which was later increased to INR 3 for some users, is expected to increase the company's customer take rate and contribution margin. Analysts at Kotak Institutional Equities noted that this move is intended to monetize select customers better, resulting in an increase in customer take-rate, which had flatlined over recent quarters. This platform fee is estimated to contribute INR 40.5 crore to Zomato's profit/EBITDA and result in about a 16 bps increase in contribution margin, helping the company move towards its targeted 8% margin (as % of GMV).
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Flipkart rolls out new programmes to support first-time sellers
YourStory
·
1m ago
Medial
Flipkart has launched new initiatives to support first-time sellers, especially from smaller towns in India, by simplifying onboarding and pricing processes. The New Seller Success Program offers 60 days of complimentary support, boosting early success rates for new sellers. The platform focuses on sustainable growth across Tier 2 and Tier 3 cities, enhancing product visibility and simplifying cataloging and order fulfillment. A new pricing model aims to provide predictability in earnings, improving operational efficiency for sellers.
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WhatsApp Rolls Out Meta Verified For Small Businesses In India
Inc42
·
11m ago
Medial
WhatsApp has introduced the Meta Verified badge feature for small businesses in India. This new feature allows WhatsApp business users to send customized messages to customers for a fee of INR 1. Additionally, WhatsApp is launching the 'WhatsApp Business Yatra' initiative to expand its market presence in Tier II and III cities.
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Cleartrip nearly doubles revenue in FY24 as losses widen
YourStory
·
8m ago
Medial
Cleartrip, a travel aggregator platform owned by Flipkart, reported a significant increase in operating revenue for the fiscal year 2024. Revenue from operations nearly doubled to INR 97.2 crore, although higher expenses led to a wider loss of INR 809 crore. Cleartrip's services generated INR 369 crore, along with INR 240 crore in commissions and incentives. The platform was acquired by Flipkart in April 2021 and continues to operate as a separate brand.
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Swiggy hikes its platform fee on food orders to Rs 3
Economic Times
·
1y ago
Medial
Swiggy, the popular food delivery platform, has increased its platform fee on food orders to ₹3. The fee hike aims to help the company cover its operational costs and ensure profitability amid tough competition in the online food delivery industry. Despite facing criticism from restaurant partners, Swiggy remains committed to providing value to its customers and expanding its services across the country.
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After Zomato, Swiggy Hikes Platform Fee To INR 10 Per Order
Inc42
·
9m ago
Medial
Swiggy has increased its platform fee on its food delivery service from INR 7 to INR 10 per order, following a similar move by Zomato. This comes as Swiggy looks to optimize its revenue ahead of its planned initial public offering (IPO).
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Ashneer Grover-Led CrickPe Unveils Subscription Plans Ahead Of Asia Cup
Inc42
·
1y ago
Medial
Fantasy cricket platform CrickPe, founded by former BharatPe MD Ashneer Grover, has introduced subscription plans called CrickPe Pro, offering zero platform fees on winnings. Two options are available: a monthly INR 200 pack and an annual INR 1,000 subscription. Subscribers won't face the 10% platform fee on winnings and can "share" their teams to earn an extra 5% on such winnings. CrickPe's move coincides with the biennial Asia Cup cricket tournament and aims to capitalize on the growing viewership. This strategy might help offset revenue loss from the fee waiver and compete against established players like Dream11.
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Ola Electric rolls out software upgrade to enhance performance for S1 scooters, Roadster X bikes
Economic Times
·
1m ago
Medial
Ola Electric is rolling out the MoveOS 5 software upgrade for its S1 scooters and Roadster X motorcycles. This in-house developed update enhances performance, reliability, and range, promising a more refined and responsive riding experience. The upgrade, superior to the Gen 3 platform, optimizes the motor control unit. It will be available to all S1 and Roadster X users via an over-the-air update starting this week, reflecting Ola's commitment to continuous innovation.
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Zomato hikes platform fee from ₹3 to ₹4 in key markets: Report
ETN News
·
1y ago
Medial
Zomato has increased the platform fee it charges users for food delivery, from the existing ₹3 to ₹4 per order in its key markets, The Economic Times reported. The 33% increase in the fee is effective from January 1, 2024. "These are business calls which we take based on various factors from time to time," a Zomato spokesperson said.
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