e-commerce
Gizmobaba ventures into offline retail
MUMBAI: Gizmobaba.com, a portal for all wacky gizmos recently launched their first physical store in Mumbai in reaction to customers seeking for physical demo of products.
Gizmobaba founder Alok Chawla stated, “This is the first step into offline retail; we will further expand after evaluating the customers’ response.” He further added, “We believe, in India, people love to go to the store and get a feel of the product, see how it functions and if it really does look good. Additionally, a physical store allows greater reach especially among people who are not comfortable with an online payment or return options. ”
Talking about the further expansions of the offline stores, Chawla said, “We are soon coming up with SIS retail formats and we are targeting multi-brand gadgets stores / departmental stores inside which we can set up Gizmobaba’s mini stores. We see a huge potential in hybrid model of business. On one hand online dimension of the business helps us reach out to infinite customers however offline will complement the online as it enforces the value of the brand in the minds of our customers, and buyers will trust the brand more if they see it offline as well as online. Therefore, we look for franchise out the offline stores as well.”
The company plans to roll out five to eight more outlets in 2015. Also, they expect to have an equal number of franchises ‘Shop in Shop’ outlets across the nation. Gizmobaba ensures a perfect customer experience at their offline store. Before a customer buys any product they witness a complete demonstration of the product given by the tech experts available at the store. They have installed a screen showing videos and demos of their product.
e-commerce
American Express to acquire AI startup Hyper to boost automation
Deal targets expense management as AI reshapes corporate spending tools.
MUMBAI: From receipts to robots, the expense sheet is getting a brain upgrade as American Express moves to bring artificial intelligence into the heart of corporate spending. The company has announced plans to acquire Hyper, a relatively young but fast-rising startup founded in 2022 that builds AI-powered agents capable of organising expenses, generating reports, verifying compliance with budgets and policies, and nudging users with timely reminders. The deal, expected to close in the second quarter of 2026, underscores a growing shift among financial institutions to automate traditionally manual, time-heavy workflows.
Hyper counts Sam Altman among its backers, adding a layer of Silicon Valley credibility to the acquisition. While financial details remain undisclosed, the strategic intent is clear: deepen automation capabilities and sharpen American Express’s position in the competitive corporate spending ecosystem.
The two companies are not strangers. They previously collaborated in 2024 on a co-branded credit card product, suggesting that the acquisition is less a cold buy and more an extension of an existing relationship. With this move, American Express is effectively bringing that capability in-house, aiming to embed AI directly into its commercial services stack.
Chief executive Stephen Squeri had already signalled the direction of travel in a recent shareholder letter, describing AI as a “structural shift” in how businesses operate. The Hyper acquisition appears to be a direct response to that shift, particularly in expense management, where processes such as approvals, compliance checks and reporting remain ripe for automation.
Alongside the acquisition, the company is also expanding its product suite. A recently launched business credit card offers cashback and benefits at an annual fee of $295, with another card expected later this year moves that complement its broader push into commercial services.
Taken together, the strategy points to a future where managing expenses may require fewer spreadsheets and more algorithms. For American Express, the bet is simple, if businesses are rethinking how work gets done, the tools that power that work need to evolve just as quickly.
