At that time, co-founders Sachin Bansal and Binny Bansal had made a public announcement at a Bengaluru hotel, about a $1-billion fund raising, largest so far in the Indian e-commerce sector. A day later, Amazon issued a statement that it was investing $2 billion in India.
'If Walmart is a physical retailer, why is it striking a deal with Flipkart for the online space?'
Flipkart and Snapdeal take a cue from Amazon even as they differ on who is ahead in the race
Experts argue that the top two players in each category will receive funding sooner or later, but for laggards, the market is still challenging
The first quarter of 2018 saw infrastructure and real estate drive investment worth close to $8 billion across 180 deals
A combination of bank guarantees, letters of credit, buyer's credit for computer servers have been provided to the two local operational arms by Kotak Mahindra Bank and Deutsche Bank.
Enforcement Directorate sources tell Vicky Nanjappa/Rediff.com that the probe into FDI received by Flipkart continues and a show cause notice will be issued to the online retailer.
The company did not disclose its new holding pattern.
The acquisition of ZipDial however has proven that even a proven business model could be an attraction point.
Indian IT giants are outstanding companies with great management teams, but they have been held hostage by their past success.
Amazon's investors are counting on its international business and expansion to help drive growth and support its $165 billion market value, one of the highest among US firms.
There is also an interesting name OLX gave the idle stuff lying in our homes: brown money. Over lunch, OLX CEO Amarjit Singh Batra tells Uttran Das Gupta how the company is weaning Indians away from their "irrational emotional attachment to things."
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According to sector officials and watchers, the funding (among the largest so far in the segment) from its existing investors -- Naspers, Accel Partners, Tiger Global and Iconiq Capital -- might be a sign of confidence they have in the company but it's still unsure if it will be enough for Flipkart to turn a corner and become profitable.
Quikr founder & CEO Pranay Chulet tells Raghu Krishnan and Bibhu Ranjan Mishra why money has never been an issue for Quikr and that someday he will make a romantic comedy.
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