ETtech Morning Briefing: Myntra & Jabong's festive sale, Microsoft-InMobi deal & more

1. Myntra and Jabong have a festive sale

What's the news?

As customer acquisition becomes top priority for ecommerce players, online fashion portal Myntra seems to have started this journey on a strong footing. Flipkart-owned Myntra and Jabong added five lakh new customers to its platform during the recently-concluded four-day flagship sale, according to the company.

What do the numbers say?

The company claims that the eighth edition of their End of Reason Sale (EORS) has been the biggest sale till date for Myntra and Jabong, recording 47% year-on-year growth and 8x growth over regular business days. This was achieved on the back of services like early access, which added 1.2 lakh customers; a referral programme and an expanded catalogue of products.

2. Microsoft and InMobi join hands

What's the news?

Microsoft will take the marketing platform built by InMobi to its global customers, while getting the Bengaluru-based adtech unicorn to migrate to its Azure cloud platform globally.

What does this mean for the companies?

Naveen Tewari, founder of InMobi, told ET that through this partnership, the two companies are creating a cloud-based platform that can change the landscape of advertising and marketing.

So far, InMobi hosted its application on its own private cloud. Microsoft, which is the largest enterprise software company in the world, will also be able to complete its suite of solutions by offering marketing software on top of cloud-based software for areas such as finance, HR and sales.

3. EY enters the blockchain game

What's the news?

Consultancy firm EY India has built a blockchain-based solution for loyalty management that it is now taking to its global clients.

What will the solution be used for?

According to EY, the solution allows for interoperability of loyalty points among ecosystem partners, offers transparency and tracks near real time transactions.

In the case of loyalty programmes, the incumbent solutions that exist are not easily interoperable and raise problems during reconciliation.

4. Karbonn promoter to buy Gionee's India ops

What's the news?

Promoters of handset maker Karbonn Mobile and Gionee India’s minority shareholder Arvind R Vohra are buying out the Indian arm and entering into a long-term brand-licensing deal, three senior industry executives said. The deal is likely to be closed in 2-3 weeks.

What are the future plans?

Once an aggressive brand with celebrity endorsers such as cricketer Virat Kohli, and actors Alia Bhatt and Shruti Haasan, Gionee India took a back seat in the past few months due to financial woes of its parent.

Sources said Vohra and Pardeep Jain have already indicated to trade partners that they will revive the Gionee brand before the festive season in October with feature rich yet aggressively priced smartphones that can compete against market leader Xiaomi.