Every competitor is eyeing the top slot that Flipkart holds.
Chief executive officer Sachin Bansal of Flipkart.com quit his high-paying job at Amazon and along with fellow IITian, Binny Bansal, decided to launch a business of his own.
With this round of funding, Flipkart's valuation has reached USD 11.6 billion, and US IT major Microsoft joins the marketplace as a strategic investor.
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.
A 2014 study had ranked IITs as fourth among the top 50 universities globally, whose graduates were entrepreneurial.
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
Myntra founder Mukesh Bansal takes over as marketing chief.
Sources said the fresh batch of profiles include students whose date of joining has been delayed by Flipkart.
It all started with Flipkart and Amazon trying to outdo each other - after Flipkart announced $1-billion fund-raising in July.
The two companies have been negotiating to remain separate entities after a merger.
For the traditionalists, wars on Twitter and Facebook smack of immaturity.
In the past eight months, Flipkart has seen the exits of Mukesh Bansal, considered the right hand man of Sachin and Binny Bansal; Ankit Nagori, chief business officer; Punit Soni, Flipkart's million-dollar hire from Silicon Valley who headed product and strategy; and Manish Maheshwari, head of the seller business
This is the sixth mark down for the largest e-commerce marketplace of the country in as many months.
Prominent print advertisements on Monday pitched Amazon's discount strategy against Flipkart's.
This is the sixth consecutive markdown in the valuation of Flipkart by the US firm.
Last year, traffic jumped 15 times on Snapdeal's 'Big Sale Day' on Oct 6, when it had clocked Rs 1 crore a minute of sales over 10 hours.
Where Binny slipped up badly was in gauging the level of transparency and governance that is expected by a global strategic investor, says Indrajit Gupta.
Tax collection at source would lock in Rs 400 crore of seller money, say Flipkart, Amazon, Snapdeal.
As Indians scrambled to exchange the banned notes for new currency, Paytm, Sharma's digital payments startup, went on a promotional spree, inviting Indians to start using Paytm's digital wallet to pay for everyday goods and services.
His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. Bansal, however, denies the allegations.
Having 50 stores in India, it plans to double the number.
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
The Ludhiana-born engineer is among the youngest entrepreneurs on TIME's 100 most influential people.
A board position requires one to hold at least 3 per cent of the outstanding shares. Binny holds around 5 per cent stake in Flipkart
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
E-retailer Flipkart has signed a memorandum of understanding with the labour ministry for short-term training of its new employees.
Duterte had consistently led the Time 100 Reader Poll, an online survey in which the publication had asked its readers to vote for who should be included in this year's Time 100 list of the world's most influential people.
The company did not disclose its new holding pattern.
The $306-million investment in Ola Electric Mobility by SoftBank Corp, Arun Sarin Family, Ratan Tata and Matrix has been the biggest funding in this space in value terms this year.
20 occasions she captured our attention.
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The Council includes companies like Tata Motors, Flipkart, Airtel, P&G, Madison World, ICICI Bank, HUL, Micromax and Future Group among others.
Paytm's secondary share sale gave an opportunity to its employees - both former and current - to liquidate their vested Esops and earn around Rs 500 crore in total.
'Big Billion Day' scheduled for October 6 is inspired by flat number where co-founders began their journey.
From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquarted company now has multiple offices across the country.
Internet entrepreneurs are the next big thing in India.
Young Indian entrepreneurs hope to share some of the limelight too at the Hyderabad event.
Internet.org is a Facebook-led initiative
US mutual funds Valic Co 1 and Fidelity Rutland Square Trust II, which have minority stake in Flipkart, have marked down the value of their stocks in the company
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