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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.
It took Flipkart a little over 24 hours to complete due diligence and come up with a final offer that was $20 million higher than what Snapdeal was ready to forfeit.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
At present, Flipkart's total seller base is 60,000.
Loses notional value by 37.5% because of markdowns by investors
Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
Sellers, especially the smaller ones, are planning to go to court as well as move CCI as they fear that Walmart could bring multiple private labels in India and flood the e-commerce platform with its own products.
Flipkart claims to have more than 90,000 sellers on its platform.
Pilot project in Bengaluru; Snapdeal got into the category last month
The strategy these online marketplace companies follow in the next few months will determine whether Amazon gets to be the leader in 2017.
The Walmart chief stated that the values of the two companies were "very much aligned"
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
Reliance Retail's digital commerce platform JioMart will morph into an e-marketplace offering multiple brands - from electronics, consumer durables, fashion and lifestyle, beauty, home, kitchen, and grocery - as it girds up to take on the likes of Amazon and Flipkart ahead of the festival season sales. India's largest retailer was in the process of onboarding third-party sellers these past few months, further increasing its selection across categories multifold. Its website and application offers general merchandise as well.
India's largest online retailer Flipkart on Wednesday announced the addition of two new members to its leadership positions, Vice President of Fashion (Retail) and the Vice President of HR (Supply-Chain).
Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
Ever since the deal was announced of Walmart spending over $16 bn for a 77 per cent stake in Flipkart, the road to the takeover of India's biggest online marketplace has been quite bumpy
Amazon has increased the commission on non-core segments by 2-9 per cent.
The deal that promises to make Flipkart a leading force in fashion segment - estimated at Rs 3 lakh crore - came after hectic weekend parleys.
After making the model work in metro cities, players in the quick commerce sector are rapidly expanding their footprint into smaller tier 2 cities and markets beyond that ahead of the festival season.
Flipkart intends to use the funds for building and strengthening its technology capabilities, bolstering the robust supply chain and developing the talent pool.
Consumers are exposed to trends from across the globe and now expect creative as well as unique products.
Dabbawalas have been in the profession of transporting lunch boxes.
Currently, Flipkart has tied up with about 5-10 agencies and plans to add 50-60 by the end of this year.
Myntra founder Mukesh Bansal takes over as marketing chief.
Sellers on platform listed products out-of-stock on Monday against increased commission, fees on returns.
Leading up to Valentine's Day on February 14, quick-commerce platforms like Blinkit and Swiggy Instamart have witnessed a phenomenal uptick in the sales of products related to the occasion, such as roses and chocolates. Meanwhile, e-commerce giants like Amazon and Flipkart have gone live with their respective Valentine's Day sale events, offering generous discounts on products. Sales of chocolates and roses on Zomato-owned Blinkit shattered previous records at the beginning of this year's Valentine's Day week, on February 7, which is celebrated as Rose Day.
According to experts, the company might be trying to ape Amazon, the largest e-commerce player in the world.
Taxing SoftBank, the largest shareholder in Flipkart with a little over 20 per cent stake, however, will be easier.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Having raised about $570 million since July 2013 in three rounds and $760 million since its launch in 2007, the question is where and how Flipkart will spend its war chest.
Seeks to cut biz costs by 10% for sellers across 24 verticals, by slashing fees and delivery charges.
E-retailer Flipkart has signed a memorandum of understanding with the labour ministry for short-term training of its new employees.
As many as 44 shareholders of Flipkart sold their holdings to Walmart. The income tax law requires the buyer to withhold tax while making payment to the sellers, in case they are not exempted from levy of capital gains tax.
The community has taken offence to being wrongly stereotyped as watchmen in the ad which also plays on an exaggerated Hindi accent to seem funny
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.
Rejig likely every few years to make company flexible to the changing needs of business
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
In 2014, the e-commerce industry created about half a million jobs.
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