10 lakh traders to protest against Walmart-Flipkart Deal today: CAIT

1 million traders will protest across the country today against US retail giant Walmart’s proposed acquisition of 77 per cent stake in home-grown retailer Flipkart in a $ 16-billion deal, traders’ body CAIT has said. Confederation of All India Traders

Flipkart Approves 75% share to Walmart at $20 Billion Valuation

Flipkart ( India’s Largest E-commerce company ) board has approved to sell 75% of the stack to Walmart in a $15 billion deal as per reported by Bloomberg, citing unnamed sources. With this deal, Flipkart will be valued at $20 billion,

Sachin Bansal may exit flipkart to Start again & Mentor Entrepreneurs

Sachin Bansal, Founder & Executive chairman of Flipkart  (India’s largest e-commerce company )  may exit the company after Walmart deal as per reported by ET. Sachin Bansal & Binny Bansal started Flipkart in 2007 after leaving Amazon. Sachin Bansal is also the

Flipkart planning to go private with buying shares back from Small Investors

Flipkart ( India’s largest e-commerce company ), which is registered as a public company in Singapore is planning to buy back its shares to get a status of a private company. As per reports from ET, Flipkart had put $400

Flipkart acquired Mobile Service Company F1 Info Solutions

Flipkart, Indian e-commerce giant has acquired mobiles and IT repair services company F1 Info Solutions. F1 Info Solutions is a neutral service provider, started in 2012 has a pan-India presence of owned and franchised centres with a distributed repair service network

Softbank Invests $2.5Bn in Flipkart to become one of the largest shareholders

Softbank Invests $2.5Bn in Flipkart to become one of the largest shareholders in the company from its Vision Fund, the world’s largest technology-focused investment fund. This is the biggest ever private investment in an Indian technology company, and will make

Letter from Snapdeal Founders to It’s Employees after terminating the Flipkart Deal

After dumping the $950-million takeover offer from Flipkart,  founders of Snapdeal had assured its people and shared their vision. Below is the letter what they shared with their employees. Dear Team, Over the last few months, our company has been

Flipkart To Foray Into Grocery Segment; Launches Pilot Project

Flipkart has undertaken a pilot programme in Bengaluru, aiming to foray into grocery segment and may expand it to other places across the country, a senior official said here on Tuesday. The homegrown e-commerce player plans to launch the grocery

Flipkart launches Metronaut in men’s fashion category

Two weeks after the launch of its first private label for women’s ethnic wear Divastri, Flipkart Fashion launched a private label named Metronaut for men’s smart casual wear and accessories. Positioned as an aspirational brand, Metronaut offers a choice of

GST: Relief for E-commerce players like Amazon, Snapdeal and Flipkart

The government has given relief to e-commerce majors such as Amazon, Flipkart, and Snapdeal, putting on hold a provision to deduct a one percent tax collected at source (TCS). It also gave more time to small entities selling on an

Flipkart-eBay India deal gets CCI Approval

E-commerce major Flipkart’s proposed acquisition of eBay India has received approval from the Competition Commission. Besides, the fair trade regulator has given nod to eBay Singapore’s subscription of compulsorily convertible preference shares (CCPS) issued by Flipkart. In a tweet, the

After Nitin Seth, Another setback to Flipkart as Neeraj Aggarwal quits, moves to Ola

Ekart’s VP Neeraj Aggarwal has moved out of the company, people aware of the development said. His exit marks one more senior position in Ekart falling vacant after the e-tailer’s COO Nitin Seth, who was heading the logistics vertical left

Setback to Flipkart as COO Nitin Seth quits

Flipkart‘s chief operating officer Nitin Seth, one of the top-ranking executives at the firm, has put in his papers, according to Et. Seth, who was in charge of logistics unit Ekart besides corporate functions like strategy and human resources (HR)

Krishnamurthy takes charge of HR at Flipkart.

Kalyan Krishnamurthy who became chief executive officer of Flipkart in January this year, has now taken over the human resource department of the company. All key portfolios of the HR department as well as of finance are under his overview,

Flipkart, Amazon go against each other to manage Government e-Marketplace

The Indian government is all set to make the use of GeM mandatory for all its departments, as per reports surfaced in February 2017. After  The Central Government announced to go out to establish its e-marketplace GeM, the national public

Snapdeal-Flipkart deal may leave Snapdeal employees richer by Rs 193 Cr

Sale of a company often leaves employees high and dry, but not in the case of Snapdeal that may offer a Rs 193 crore bonanza to its staff if the homegrown e-commerce firm is taken over by larger rival Flipkart.

Done deal? Softbank gets Nexus’ nod for selling Snapdeal to Flipkart

Japan’s SoftBank has secured the crucial nod from co-investor Nexus Venture Partners (NVP) for sale of Snapdeal to India’s largest e-commerce firm, Flipkart, sources said. SoftBank — the largest shareholder in Snapdeal — had secured a go-ahead from the founders

Myntra acqui-hires logistics startup InLogg, founded by Ex Flipkart Employees

Flipkart subsidiary Myntra has acquired logistics start-up InLogg. The acquisition will strengthen the supply chain capabilities. Myntra announced the acquisition of InLogg on Wednesday. Inlogg will help to solve delivery inefficiencies in terms of cost and reach, according to a

Flipkart to invest in new businesses like PhonePe

E-commerce firm Flipkart on Wednesday said it proposes to invest the major part of the money raised from latest deals, including with Microsoft, in new businesses such as PhonePe and Fintech considering opportunities in the online money transfer segment. “A

Largest e-commerce deal in India : Flipkart raises $1.4 billion from Tencent, eBay and Microsoft, acquires eBay India

India’s largest e-commerce firm Flipkart has raised $1.4 billion from American online auction site eBay, Chinese internet giant Tencent and Microsoft, the company announced Monday. It is the largest deal in the Indian E-commerce industry.  Flipkart Ltd will also buy

Softbank backing Snapdeal – Flipkart merger

SoftBank is backing the Snapdeal – Flipkart merger which could be the biggest merger or acquisition deal in the Indian e-commerce sector. Last month idea-Vodafone go for the biggest merger in the telecom sector. Softbank is the biggest investor in the

Flipkart to acquire eBay India

Flipkart is planning to acquire eBay India’s operations as part of its latest funding round of $2billion, reported by Factordaily. eBay, which is a small investor in Snapdeal, has made unsuccessful attempts to acquire the New Delhi-based online retailer over past

Snapdeal Said to be in deal talks with rivals Flipkart, Paytm for potential sale

Indian online marketplace Snapdeal is in talks with domestic rivals Paytm and Flipkart for a potential sale, that could value the company at less than the total equity raised by parent Jasper Infotech Pvt. Ltd, according to three people aware

Flipkart Look to raise $1.5 bn from Tencent and eBay

Flipkart is looking to raise around $1.5 billion in fresh funding. As per various reports, the fresh funding round for Flipkart will be led by US-based eBay and China’s Tencent. The Economic Times report mentioned citing one of the persons familiar

Flipkart going off the trends to hire 20-30% more than the last year

E-commerce major Flipkart is looking to hire 20-30 percent more people in 2017 compared to last year even as rival Snapdeal hands out pink slips to its employees. The Bengaluru-based firm, which is locked in an intense battle with the

Flipkart owned Myntra to manage Spanish Brand Mango in India

Fashion e-tailer Myntra today said it has bagged a master distribution and management rights for Spanish fashion brand Mango in India. This is the first time that an e-commerce player will manage the Omnichannel strategy for a global fashion brand.

Microsoft, Flipkart announce strategic tie-up

IT giant Microsoft today announced a “strategic partnership” with Flipkart, wherein as a first step, the online retailer will adopt Microsoft Azure as its exclusive public cloud platform. The strategic partnership was aimed at providing consumers in the country the

Flipkart has raised about $38.7 Mn (INR 260 Cr) from BCCl

Flipkart has reportedly raised about $38.7 Mn (INR 260 Cr) from media giant Bennett, Coleman and Co. Ltd (BCCL). According to documents filed with the Registrar of Companies, BCCL made an offer to Flipkart of about Rs 260 crore to buy

Flipkart, Amazon, Snapdeal flag worries over TCS clause in GST

Online retailers Flipkart, Snapdeal and Amazon today came together to raise concerns about the tax collection at source (TCS) clause under draft model GST law, saying it could result in a capital lock-down for sellers and discourage them from selling

Grofers sets up seller structure similar to Flipkart’s to comply with FDI norms

Grofers India Pvt. Ltd has identified at least three large sellers who will sell products on its platform so as to comply with India’s foreign direct investment norms even as the grocery delivery start-up tries to move from a hyperlocal

Flipkart valuation slashed Again to $5.56Bn

Flipkart again witnessed markdown of it’s valuation to $5.56Bn. This time, a Fidelity-managed mutual fund has further slashed value of its Flipkart shares by 36.1%, pegging the valuation of India’s most valuable Internet company at $5.56 billion. As per published in

As Flipkart & Amazon Back Out Souq.com Searches For New Investors

The two e-commerce giants Amazon & Flipkart back out from US $1 billion deal to acquire Dubai-based Souq.com after disagreeing over price, according to sources. Souq.com also said to be in talks with UAE based Majid Al Futtaim Group. Souq.com carries 1.75 million products

Flipkart Rejigs Top Order To ‘Simplify’ Organisation

Flipkart has rejigged its top deck yet again, carving a bigger role for head of ‘category design management’ Kalyan Krishnamurthy among other changes, to create a “top-team with clear accountabilities”. The rejig at Flipkart, the third major one this year,

CAIT Alleges Amazon, Flipkart, Snapdeal Are Violating FDI Norms; Files Complaint with DIPP

Traders body CAIT has filed a complaint with DIPP alleging that major e-tailers Amazon, Flipkart and Snapdeal are blatantly violating FDI norms. The Confederation of All India Traders (CAIT) has filed a complaint with the “DIPP against Amazon, Flipkart and

Yumlane raises around $1mn Seed Funding led by Flipkart CEO Binny Bansal

Food startup Yumlane operated by QwikPik Technology has raised funds in a seed round led by Flipkart chief executive officer Binny Bansal. Other investors that have also participated in the round, a first for YumLane, include People Group Founder Anupam Mittal, Sachin Bhatia,

Flipkart denies laying off employees

Reacting to media reports that it is set to lay off 700-1000 employees for poor performance, leading e-tailer FlipKart on Friday denied any such move. “Flipkart denies all allegations of a lay-off,” a company spokesperson said in a statement. Earlier,

Flipkart Loses Two More Top Executives

Yet another 2 senior executives at Bengaluru-based e-commerce company Flipkart has resigned. Flipkart confirmed the departure of Lalit Sarna and Sunil Gopinath. Sarna was heading the payments product design for Flipkart while Gopinath was the technology lead for the marketplace division. These

Ex-Flipkart Executive’s Health & Fitness Startup CureFit ropes in $15M funding from Accel, IDG & Kalaari

Ex Flipkart executives Ankit Nagori and Mukesh Bansal’s CureFit, a healthcare and fitness start-up has raised $15 million from Accel Partners, IDG Ventures and Kalaari Capital. Nagori and Bansal who resigned as commerce platform head and chief business officer, respectively, from Flipkart

Markdowns Don’t Matter Says Flipkart Chairman Sachin Bansal

Battling successive markdowns in valuation by investors and third parties, Flipkart chairman Sachin Bansal has said that such cuts are their “opinions” and cited the case of Uber to illustrate that it will not impact the e-commerce major’s fundraising plans.

Valuation Woes of Flipkart Continue; Now Vanguard slashes its share value by 25%

A mutual fund managed by US-based investment firm Vanguard Group has marked down the value of its stake in Flipkart. Vanguard has marked the value of their Flipkart shares at $102.6 as of March 2016, down from $136.87 as of

Flipkart Concerned Over Clause On Tax Collection At Source

E-commerce major Flipkart on Wednesday expressed concern over a clause relating to tax collection at source (TCS) in the Goods and Service Tax (GST) Bill. “We believe that TDS process that has been recommended about holding some tax and paying

Flipkart Shuts Down Image Search and Ping Social Features

Almost 10 months after launching its in-app peer-to-peer chat service Ping, e-commerce major Flipkart has decided to replace it with ‘user to seller’ chat. Ping allowed users to browse for products and share them with friends inside Flipkart’s app. It

Amazon Reduces Seller Commissions To Surpass Flipkart & Snapdeal

To capture the Indian e-commerce market and surpass its competitors Amazon has reduced the commission it charges from sellers on electronic goods and computer software as it looks to expand its base of sellers. According to news by Business Standard, the move by the US

Startups may lose sheen in job market after the Flipkart fiasco

Darling of jobseekers till recently, the startup space may lose some sheen in the job market as management and tech graduates might prefer joining ‘safer companies’ after the Flipkart fiasco, say experts. The e-commerce major has deferred joining dates for

Morgan Stanley marks down Flipkart investment second time in 3 months, Flipkart’s valuation drops to $9.39 bn from $15.2 billion

American multinational financial services corporation, Morgan Stanley has marked down the value of its shares by 15.5%, the second such devaluation in three months, The Economic Times website reported. The Morgan Stanley Institutional Fund has valued Flipkart shares at $87.9 per share

Flipkart Stands Solid On Its Decision Of Not Hiring Students Before December says IIM-Ahmedabad

IIM-Ahmedabad and Flipkart were locked in a face-off on Thursday with the e-commerce major refusing to honour its job commitment to students of the prestigious institute until December, as against June promised earlier, but offered a compensation for the intervening

Flipkart’s logistics unit Ekart forays into Courier Service Segment; Starts with Bangalore

Ekart, the logistic arm of India’s largest e-commerce portal Flipkart is all set to launch its own courier services to take on large courier companies such as DTDC, Blue Dart, DHL and FedEx. Ekart Courier will provide customers door-to-door pick-up of

CAIT Files Complaint Against Flipkart for Violating FDI norms

Traders’ body CAIT filed a complaint with the Department of Industrial Policy & Promotion alleging violation of FDI norms for e-commerce by online retail major Flipkart. The complaint is in reference to an advertisement in newspapers announcing the sale of

Is everything good inside flipkart as another senior executive quits from India’s largest eCommerce platform

Punit Soni, who was chief product officer for flipkart, quits eCommerce platform in about a year of joining. Flipkart hired Soni, a Google executive with expertise in mobile technology, to head product development. Soni was responsible for significantly enhancing the product

How Sachin Bansal Started – Life of Flipkart Founder [ Infographics ]

Sachin Bansal – The master mind behind the Flipkart idea, one of the first people to establish an e-commerce website in India, an IIT graduate and a business man who created something of a history in the great Indian internet