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Alibaba Makes Out Like The 40 Thieves For Single’s Day!

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Alibaba Makes 40 Thieves For Single Day,Alibaba Singles Day Sales All Records,Startup Stories,Business Latest News 2017,Alibaba Singles Day Sales Records,Alibaba Singles Day 2017 Sales,Five Largest Ecommerce Platforms in World,Alibaba Business News,Global Shopping Festival 2017

The China based ecommerce giant Alibaba, said on Saturday (11 November, 2017,) its Single’s Day broke all records by hitting $ 25.4 billion! This record amount broke all records set by Alibaba last year and has now established this ecommerce brand as the leading online shopping platform.

Once a celebration for China’s lonely hearts, Singles’ Day has become an annual 24 hour buying frenzy that exceeds the combined sales for Black Friday and Cyber Monday in the United States and acts as a barometer for China’s consumers. The event kicked off at midnight and a deluge of pre orders helped drive a billion dollars worth of sales.

In the first two minutes, sales hit the roof which led Alibaba to record $ 10 billion dollars in just the first hour! Sales kept rising higher and at the halfway mark, Alibaba recorded $ 18 billion, sweeping past 2016’s record with a vengeance.

The event got shoppers around China scouting for sales and bargains, while delivery executives and robots geared up for an exciting day ahead! Alibaba converted over 100,000 locations into smart stores for this year’s event. Goods perused by people at the stores but then were bought and paid for on Alibaba’s platforms, were added towards the sales total.

This also led to people to buy from brick and mortar stores, with virtual trial rooms and live fashion shows in an attempt to attract shoppers, a move that clearly worked in Alibaba’s favor! “This is a big event for China, (and) for the Chinese economy,” Joseph Tsai, Alibaba’s co founder and vice chairman, said. “On Singles’ Day, shopping is a sport, it’s entertainment.

Alibaba is one of the World’s largest ecommerce shopping platforms and competes with Flipkart and Amazon. Alibaba provides a wide range of consumer to consumer, business to consumer and business to business sale services via online portals.

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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