Online fashion retailer StalkBuyLove runs out of money. Amazon to set up pickup kiosks in colleges, office complexes.
StalkBuyLove runs out of funds
New Delhi-based women-focused online fashion retailer StalkBuyLove has run out of cash, The Economic Times reported.
Customers, influencers and vendors are protesting on social media platforms against the founders for allegedly disappearing without clearing dues and halting deliveries, the report said.
The company’s crisis is because of a failed financing round six months ago when the deal did not go through with a Germany-based fund, the report added.
Ad Victoriam Ventures, which owns and operates the portal, was founded in 2012 and was backed by venture capital firm Kalaari Capital, 500 Startups and Germany-based Littlerock, the report said.
Amazon sets up kiosks in colleges, offices
Amazon will be setting up kiosks in large office complexes and educational institutes to serve as pickup zones after products are ordered, The Economic Times reported.
The company is setting up kiosks in IIM-Ahmedabad and Lovely Professional University and large office parks like Manyata Tech Park in Bengaluru, the report said.
The move comes just before its annual flagship sale Great Indian Festival, which competes with Walmart-backed Flipkart’s Big Billion Day.
Tax incentives likely for digital payments
Consumers and merchants might be able to avail tax incentives for digital payments through quick response (QR) code on the unified payments interface (UPI) from next year, The Times of India reported.
Steering committee members of National Payments Corporation of India (NPCI), which developed UPI, have reportedly approved a proposal for incentivising digital payments via QR code using UPI, the report said.
It is also planning to store the permanent account number (PAN) data in an encrypted format.
The report said the move is in line with the government’s plans to incentivise digital payments as it has set a target of 40 billion digital transactions by 2020.
Junglee Games reaches 25 mn users
Junglee Games Network, which operates the online gaming platform Junglee Games, has reached 25 million users.
The California, US-based company aims to reach the 40 million mark by the end of the current financial year.
“We are delighted to have a global community of 25 million users and we are set to acquire 10- 15 million more players by the end of the financial year. With a focus on user feedback, we try to provide our users with the best online gaming experience,” said Ankush Gera, founder and chief executive officer, Junglee Games.
Junglee Games, founded in 2012, operates from San Francisco and Delhi and has over 250 employees across San Francisco, Hong Kong, Austria, India, Vancouver, Argentina and Poland.