e-commerce
Online food delivery market sees 40% growth, ticket sales drop 49%: IAMAI
MUMBAI: The online food delivery market in India has been thriving. This in turn has also led to the mushrooming of many an online start-ups, catering to the growing demand. What’s more, the online food delivery market saw an impressive growth of 40 per cent in 2014 to touch Rs 350 crore by the end of December 2014, as per a report by the Internet and Mobile Association of India (IAMAI).
As part of the previous year’s industry review data released by IAMAI, the food delivery segment is now witnessing a lot of traction. Significantly, the online food delivery market constitutes 17 per cent of the overall other online services pie.
On the other hand, the share of buying online tickets for movies, sports, shows, concerts in the online service pie has dropped to 49 per cent as compared to 2013 and was pegged at Rs 990 crore in December 2014. The online grocery market garnered six per cent of the total online services pie.
Online booking for commuting (cabs etc) too saw rapid growth during 2014 to touch Rs 600 crore by the end of the year.
As per the report, other online services market, which includes emerging service categories like Online Entertainment Ticketing, Online Commuting, Online Food and Grocery Delivery, has grown with a CAGR of 73 per cent since 2010 and was valued at Rs 2,025 crore by year end.
This segment IAMAI-IMRB data also reveals that the e-tailing category has grown manifold with a CAGR of 33 per cent from Rs 2,372 crore in the year 2010 (Jan-Dec 2010) to Rs 10,004 crore in year 2013 (Jan-Dec 2013). It further grew by 1.4 times and reached Rs 24,046 crore in December 2014.
Mobiles and mobile phone accessories contribute to 41 per cent (Rs 9,936 crore) to the e-tailing segment followed by apparels, footwear and personal items, which contribute 20 per cent. Consumer durables along with kitchen appliances contribute another 14 per cent. Out of the remaining 25 per cent, laptops/ tablets, home furnishings, and books contribute to another Rs 2,780 crore, Rs 1,059 crore and Rs 648 crore respectively.
Emerging categories that comprise products like deals/coupons, toys, gifts, handicrafts, flowers etc. continue to contribute just about three per cent of the e-tailing pie.
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.
