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Meet Kunal Bahl, new Judge of Shark Tank India

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Kunal Bahl, the co-founder of Snapdeal and Titan Capital, has joined the panel for season 4 of Shark Tank India, replacing Deepinder Goyal, the founder and CEO of Zomato. He will join the existing panel of Sharks, including Anupam Mittal, founder and CEO of the People Group; Aman Gupta, co-founder and CEO of boAt Lifestyle; Namita Thapar, executive director at Emcure Pharmaceuticals Limited; and Ritesh Agarwal, the founder and group CEO of OYO. Kunal Bahl has founded and grown numerous technology ventures and has invested in over 250 startups. Let’s delve into the life of Kunal Bahl, the newest shark.

Kunal Bahl was born in India and completed his education at Delhi Public School R.K. Puram in New Delhi. He was later accepted at the University of Pennsylvania, where he pursued the Jerome Fisher Program in Management and Technology, and earned two bachelor’s degrees in Entrepreneurship, Operations, and Information Technology. Additionally, he completed an executive marketing program at the Kellogg School of Management.

Kunal Bahl co-founded Snapdeal, an e-commerce company, in 2010. Later, in 2022, they assumed the group corporate identity of AceVector. AceVector Limited became the holding company for Snapdeal, Unicommerce, and Stellaro brands. Additionally, he co-founded Titan Capital, a prominent early-stage venture capital firm in India that invests the personal funds of Kunal Bahl and Rohit Bansal. Through Titan Capital, he has invested in over 250 startups across various sectors including consumer tech, health tech, fin-tech, SaaS, consumer brands, and B2B services. Some of the companies he has invested in are Ola Cabs, Urban Company, Razorpay, Ofbusiness, and Mamaearth, among others.

He is a promoter of Unicommerce, a leading SaaS company in India that had a successful year. The company was named one of the most highly subscribed IPOs of 2024. Additionally, he was appointed as the chairman of the Confederation of Indian Industry Startup Committee. He has also been a member of the Executive Council at NASSCOM, the National Startup Advisory Council, and the Board of Governors of the Indian Council for Research on International Economic Relations.

He has also been appointed as an Independent Director on the Board of Piramal Enterprises, an Indian conglomerate.

Before becoming a shark, Kunal Bahl appeared on the Prime Video series “Mission Start Ab,” where ten innovators compete for mentorship and funding. Bahl’s entrepreneurial journey includes building and scaling technology ventures, and he has invested in over 250 startups. Although the makers have not announced the premiere date for the new season, Bahl’s unique insights and expertise will be a valuable addition to the show.

Alibaba to Integrate Tencent’s WeChat Pay Across Its E-Commerce Platforms

Alibaba to Integrate Tencent’s WeChat Pay Across Its E-Commerce Platforms

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Alibaba which is the biggest tech business in China, has announced that Taobao and Tmall which are the two of the company’s most recognized e-commerce platforms, would now allow transactions made with WeChat Pay. Alibaba has changed to a more collaborative strategy by granting WeChat Pay access for the first time with this move.

Removing the Barriers

Alibaba to Integrate Tencent’s WeChat Pay Across Its E-Commerce Platforms

Image Source: scmp.com

Alibaba made this strategic step because the firm wanted to spur development in the E-commerce sector of China. Alibaba is searching for innovative ways so that they can increase their engagement with customers along with the market share, and, they are specifically doing it in countries that are developing. This crucial step was taken because the rival companies were becoming obstacles and they were facing declining customer demand.

Increasing Growth Despite Competition

The Chief Executive Officer of Alibaba, Eddie Wu has declared his intention to restart Taobao as well as Tmall’s development by the second half of the company’s 2025 financial year. It is assumed that The Payment service WeChat Pay, which has more than 1.3 billion users around the world might help Alibaba increase its share of the market. Most of the WeChat Pay users are from China so it would benefit Alibaba. This will be especially beneficial in areas where WeChat Pay is extensively utilized.

WeChat Pay has long been available on other platforms such as JD.com, thus Alibaba’s action helps them stay competitive in a market that is changing quickly.

Also Read: IdentifAI Raises €2.2M to Fight Back Against the Rise of AI-Generated Content

Cooperation and Regulatory Pressure

The regulatory pressure coming from the Chinese authorities, who have pushed internet corporations to dismantle their “walled gardens,” is also relevant to this development. In the past, these gardens kept rivals from using each other’s platforms’ functions. In reaction to these laws, two of China’s biggest tech companies, Tencent and Alibaba, have begun to relax these limits during the past couple of years.

E-Commerce Firm Udaan Raises $340 Million Ahead of Planned IPO

E-Commerce Firm Udaan Raises $340 Million Ahead of Planned IPO

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Udaan, the B2B trade platform, has set the stage for an aggressive leap forward in its growth trajectory with the announcement of a substantial $340 million Series E financing. This funding, led by M&G Plc and joined by stalwart investors like Lightspeed Venture Partners and DST Global, marks a pivotal moment in the company’s journey toward a planned IPO.

The infusion of capital not only fortifies udaan’s financial position but also symbolizes a robust endorsement of its vision to revolutionize the landscape for small businesses. This round of funding, a blend of fresh equity investment and the conversion of debt into equity, propels udaan closer to its profitability goal within the next 12-18 months. The strategic utilization of these funds aims to bolster customer experiences, reinforce market penetration, and cultivate robust vendor partnerships.

Empowering Bharat’s Small Businesses

Central to udaan’s mission is the empowerment of small businesses and kiranas across India. The infusion of funds is earmarked to enhance supply chain efficiency, fortify strategic alliances, and augment long-term capabilities, all underpinning a sustainable business model tailored to serve the diverse needs of local businesses.

E-Commerce Firm Udaan Raises $340 Million Ahead of Planned IPO

Image Source: tech.hindustantimes.com

Vaibhav Gupta, udaan’s Co-founder and CEO, emphasizes, “The regional-operated design will not only get us closer to our customers, but also make our operations more agile and efficient.” This underscores the company’s commitment to fostering localized engagement while ensuring operational agility—a key factor in udaan’s success story.

Since its inception in 2016, udaan has been on a relentless trajectory to transform the trade ecosystem by leveraging technology. Its operations span an extensive array of categories, including lifestyle, electronics, FMCG, and more. With a robust logistics network covering over 1200 cities and 12,500+ pin codes through udaanExpress, the platform has cemented its position as a critical enabler for B2B trade.

A Path to Empowerment

With its sights set on a burgeoning $100 billion eB2B market opportunity in India, udaan remains steadfast in its commitment to simplifying trade complexities. By empowering small businesses through technological prowess and inclusive financial practices, udaan paves the way for their success in an increasingly digital business landscape.

Also Read: How to Create and Personalize a Contact Poster in iOS 17

As udaan continues its mission to democratize trade and empower Bharat’s small businesses, this latest funding round serves as a testament to the company’s unwavering dedication and the industry’s confidence in its transformative potential.

E-Commerce Startup Udaan to Trim Costs Ahead of 2025 IPO

E-Commerce Startup Udaan to Trim Costs Ahead of 2025 IPO

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Before its anticipated IPO in 2025, Indian e-commerce firm Udaan is concentrating on cutting expenses and establishing partnerships with consumer goods companies. Operating profitability is the business’s goal, according to the chief executive officer Vaibhav Gupta, and it should happen in 18 months. Lightspeed Venture Partners-backed Udaan is among a slew of Indian startups aiming to capitalise on the expanding economy of the nation while satisfying investor expectations for profitability. With its financial technology division, Udaan, which provides small merchants with an online marketplace and logistical network, is also branching out into lending.

The priority “is steady and predictable financial performance,” Gupta said. “Second, strategically we want to ensure that we are top of mind with shopkeepers, with big manufacturers, and we maintain our relative market share”, he added.

retail.economictimes.indiatimes.com

Udaan Aims to capitalize on India's customer base

funded by Lightspeed Venture Partners Amongst the businesses attempting to capitalise on India’s customer base and economy’s explosive expansion is Udaan, which is also aiming to satisfy investor requests for revenue generation.

At the height of its employment, Udaan brought in thousands of people. Last year, it, along with other Indian startups, reduced employment and tightened internal controls as well as compliance.

With around 1,800 employees as of right now, Gupta would not say if more layoffs are necessary.

E-Commerce Startup Udaan to Trim Costs Ahead of 2025 IPO

Image Source: moneycontrol.com

Corporate governance errors at Byju’s, an Indian online teaching company that was once the country’s most valuable startup with a 22-billion-dollar value, exposed the particular difficulties encountered by South Asian entrepreneurs and encouraged other businesses to exercise greater caution.

“We continue to move towards more professionalized management, professionalized board and also institutionalized shareholders as we go towards public markets,” Gupta said.

retail.economictimes.indiatimes.com

Also Read: Top 5 Ways to Find Out If Someone Has Remote Access to Your iPhone.

Udaan has not yet decided if it will be listed internationally or in India. According to a report by September Business Standard, it was in discussions to raise a total of 400 million dollars and was estimated at more than three billion dollars in a 2021 investment round. Tencent Holdings Ltd. owns 6 percent of Udaan, while Lightspeed owns approximately 35 percent.

In 2016, three developers who worked before at Flipkart launched the firm. Until Vaibhav Gupta, who was among the founders, took on the role of the chief executive officer in 2021, the three of them jointly managed Udaan. Amod Malviya and Sujeet Kumar, the other two founders, are members of the board.

TikTok’s E-Commerce Ambitions Stall as Global Backlash Grows

TikTok’s E-Commerce Ambitions Stall as Global Backlash Grows

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In a surprising turn of events, TikTok, the wildly popular Chinese-owned social media platform, is facing a formidable obstacle in its quest for e-commerce dominance as a groundswell of regulatory backlash grows globally. 

TikTok’s E-Commerce Ambitions Stall as Global Backlash Grows
Image Source: finance.yahoo.com

The latest blow comes from Indonesia, Southeast Asia’s retail giant, where sweeping regulations have been implemented, forcing TikTok to split payments from shopping—a move that could impede its thriving e-commerce initiatives. The Indonesian Minister of Cooperatives and Small and Medium Enterprises, Teten Masduki, has emerged as a vocal critic, expressing concerns about TikTok squeezing local players. The new regulations prohibit social media companies from handling direct payments for online purchases, and TikTok, with its TikTok Shop, is the only platform currently doing so. This separation poses a significant challenge for TikTok, forcing it to reconsider its e-commerce strategy in Indonesia.

The regulations have triggered a ripple effect in the market, benefiting local players like GoTo and Sea, while potentially chilling the entire online shopping arena. The ban on direct payments could alienate foreign firms and investors, adding to concerns about protectionist measures in various industries.

TikTok has pushed back against the regulations, arguing that separating social media and e-commerce stifles innovation and adversely affects millions of merchants and consumers who rely on the platform for their livelihoods. The company faces the dilemma of either creating a separate app for payments, potentially diminishing its user experience or risk having its business shut down in Indonesia.

Also Read: From Unicorns to Camels: How AI Startups Transcend The Divide in Tech Investment

The conflict with Indonesian authorities marks a stark contrast to the optimism expressed just a few months ago when TikTok’s CEO promised significant investments in Southeast Asia. The regulatory challenges in Indonesia may also set a precedent for other countries in the region to scrutinize TikTok’s influence in their e-commerce markets.

As TikTok navigates this regulatory minefield, it faces not only potential scrutiny in the US, Europe, and India but also the challenge of finding a structure that satisfies authorities while allowing for continued growth. The outcome of this battle will have implications not only for TikTok’s ambitious e-commerce plans but also for the broader landscape of social media and online shopping worldwide.

Shopee

Popular e-Commerce Platform Shopee Shuts Down Its Operations In India.

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Shopee, a Singapore-based e-commerce site that only launched in India in December 2021, has opted to leave the nation. Shopee’s official rationale, which is controlled by NYSE-listed Sea Ltd, is causing worldwide sentiment to shift.

“In light of global market uncertainty, we have chosen to close risks of our early-stage Shopee India endeavour,” the company stated in a statement. Trade organisations led by Praveen Khandelwal, as well as domestic social commerce start-ups, have been vocal in their opposition to the e-commerce platform.

Source: www.business-standard.com


They claimed it was a back-door infiltration by Tencent, a Chinese corporation, in blatant contravention of FDI guidelines. Shopee recently received relief from the Competition Commission of India (CCI), which dismissed a complaint filed against the company for exploitative pricing.

To add to the troubles, Sea Ltd has been in the middle of a tempest because it also controls the popular gaming software ‘Free Fire,’ which was recently banned by the Centre, along with numerous other Chinese apps.

Shopee
Image source: moneycontrol.com

Shopee, on the other hand, scored a huge victory when the CCI dismissed a petition brought by Khandelwal citing “predatory pricing with the intent of destroying conventional and small-scale businesses in the country.”
Khandelwal, who is also the secretary-general of the Confederation of All India Traders (CAIT), said he intends to appeal the CCI verdict to the National Company Law Appellate Tribunal (NCLAT).

Shopee had allegedly broken FDI restrictions since Tencent owned a significant stake in the Sea Group, according to the trade body. It further stated that the e-commerce platform entered the country through a complicated backdoor.
In its March 3 judgment, the CCI stated that it does not detect any prima facie evidence of Shopee’s violation of provisions 3 and 4 of the Competition Act. It was suggested that Shopee was a newcomer to a market that already had a plethora of e-commerce firms.

According to insiders, Shopee, which employs over 300 people, would provide them three months’ pay as a separation package and will also try to place them in other companies.

It would also provide assistance to sellers until the end of May to remedy any concerns, particularly with transactions.

They also mentioned that the company has shut down operations in France and would now concentrate solely on becoming profitable by 2025, rather than expanding into new areas.

Sea Group has made repeated attempts to reaffirm its status as a Singaporean firm. It has made it plain that Tencent does not have a claim to a board seat. Tencent now owns an 18% stock stake in Sea Ltd.

Sea Ltd founder Forrest Li would possess 57 percent of voting power, up from 52 percent previously, according to the company’s articles of association, which were approved during an annual general meeting (AGM) last month.
Despite having only an 8% stock stake, this is the case. As a result, he effectively has complete influence over the management and the Sea Board. Li was born in Singapore and is a Singaporean citizen.

Tencent’s stake in Sea Ltd has gradually dwindled since it originally invested in the company in 2010. According to Sea’s AGM meeting notice, it now has less than a 10% voting share.

The government’s crackdown on Chinese apps included the abrupt ban on Free Fire. Singapore’s ministry of trade and industry reacted quickly, saying this week that it hoped the restriction will be lifted “as soon as possible.”
According to media sources, the ministry had addressed the Centre a week before to inquire whether the ban was “deliberate” and why it had been imposed, considering that Sea is based in Singapore.
According to sources, the Singapore government is still in talks with the Indian government, but no solution to the disputed ban has been reached.