Unicommerce's change in fortunes

By Team YS
October 16, 2022, Updated on : Mon Oct 17 2022 05:51:27 GMT+0000
Unicommerce's change in fortunes
Between 2012 and 2017, the ecommerce and retail enablement platform focused largely on small and medium businesses. By 2017, Unicommerce realised the potential of turning towards large enterprises.
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Hello Reader,


Let’s start with some good news. 


SBI Chairman Dinesh Khara said that the impact of a global recession is unlikely to be as pronounced in India compared with other countries.


Meanwhile, ISRO is set to add yet another feather to its cap as its heaviest rocket—Launch Vehicle Mark 3, which launched Chandrayaan-2—will enter the global commercial launch service market by placing British broadband into orbit.


ICYMI: A pair of Levi’s jeans from the 1880s—just a few years after the company was started in 1853—were found in an abandoned mine and auctioned off for more than $87,000.


Ageless classics and all that jazz…


In today’s newsletter, we will talk about 


  • Unicommerce's change in fortunes
  • An oasis of flavour in Mumbai
  • Finding tech talent for companies


Here’s your trivia for today: Which country has the world’s longest coastline?



The Turning Point

Unicommerce's change in fortunes

When ecommerce supply chain SaaS solution platform Unicommerce started a decade ago, it empowered online businesses to manage orders from multiple marketplaces through its platform.


Now, a full-stack tech platform with a focus on large enterprises and international markets, it processes 20% of India’s dropship ecommerce volumes and handles over 600 million orders annually.


Key metrics:


  • During the recent festive season sale, Unicommerce processed over 14 million orders in a week and reported 50% YoY growth in festive order volumes.
  • The company serves over 15 countries in Southeast Asia, South Asia, and the MENA region, with products being shipped to more than 78 countries.
  • It works with roll-up firms and D2C brands including Mamaearth, boAt Lifestyle, Lenskart, SUGAR Cosmetics, Mensa Brands, etc. 
Kapil Makhija, CEO of Unicommerce



Food

An oasis of flavour

Chef Niyati takes the meaning of the asterisk in the name of her restaurant KMC* very seriously. She does not want to put any labels on the place, which can metamorphose into a cafe, coworking area, adda, or comfort zone.


“The K in KMC* is for kitab (book), M is for mahal (palace), and C we have left to the people. It can be creative, curious, or crafty…it can be anything,” she explains.


No conditions apply:


  • The fusion of the old and new worlds reflects in the menu, which is inspired by Niyati’s professional journey.
  • She has worked at Noma, a three-Michelin-star restaurant run by Chef René Redzepi in Copenhagen, Denmark.
  • Portion sizes at KMC* are good and the average cost could chalk up to be Rs 1,000-1,200 for two people.
KMC

Credit: YourStory Design



Startup

Finding tech talent for companies

While remote work has opened up many work opportunities, companies often struggle to retain good and reliable tech talent.


AI-enabled platform Supersourcing uses a community-based approach to solve this problem and helps early-stage startups and enterprises employ top remote engineering talent on a contract basis.


Marketplace for hiring:


  • SuperSourcing combines automated tests with live interviews. The entire product is built on the AI and ML architecture.
  • The platform evaluates soft skills such as project collaboration, and personality tests, as well as work experience and technical skills such as coding challenges, etc.
  • It says it has helped 28 unicorns, 32 YC-funded companies, and Fortune 500 brands. 
SuperSourcing



News & updates

  • Cyber ambush: Power generation company Tata Power has confirmed it was hit by a cyberattack that impacted some of its IT systems. The company declined to say whether any data was breached.
  • Wall Street trouble: Morgan Stanley reported a big drop in its earnings in the third quarter. It said that revenues from advising companies on mergers as well as underwriting stock and bond offerings fell 55%. The business of buying and selling stocks recorded a 14% drop.
  • Hello, uncertainty: Europe's largest activist investor Cevian Capital has slashed its stake in Vodafone as scepticism grows that the telecoms company will be able to reverse its sluggish performance. Earlier, Abrdn, another of Vodafone's biggest shareholders, supported calls for restructuring.



What you should watch out for

  • Prime Minister Narendra Modi will dedicate 75 Digital Banking Units (DBUs) to deepen financial inclusion.
  • The World Health Summit will begin in Berlin.



Which country has the world’s longest coastline?


Answer: Canada. Its coastline measures 243, 042 km covering the mainland and over 50,000 islands. The country is surrounded by three oceans—The Atlantic, The Arctic, and The Pacific. 



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