Every competitor is eyeing the top slot that Flipkart holds.
Flipkart on Wednesday said it has acquired mobile marketing start-up Appiterate.
'You think: Did I fail the people I had to let go? Did I promise something I couldn't deliver? That day (when we had to sack 70 people) will stay with me.'
He said he will be 'cheering from the outside' and urged Flipkart team to continue with the momentum.
This is the sixth consecutive markdown in the valuation of Flipkart by the US firm.
'Indian players in the digital market should not be dominated by global players, and they should not dominate the smaller players -- these discussions are on.'
'If Walmart is a physical retailer, why is it striking a deal with Flipkart for the online space?'
Flipkart's valuation of $15.2 bn arrived at during latest round of $700-mn fund raise.
Its share among top three e-commerce players grew to 57% in March 2017 from 45% in June 2016
Amazon has emerged a competition for posterboy of Indian e-commerce Flipkart.
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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.
Loss of investor confidence in Flipkart last year sparked off a chain reaction in startup sector
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.
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
The Bansals losing out operational control of Flipkart comes at a time when global rival Amazon, in which Tiger Global holds a minority stake, is stepping up investment in India in an attempt to overtake the Bengaluru-based e-commerce firm.
Flipkart eyes another $500 mn from eBay, which seeks to merge India ops with it and exit business
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
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.
Companies like Flipkart, Amazon and Meesho as well as quick commerce ones like Blinkit, Zepto and Swiggy Instamart may create hundreds of thousands of seasonal jobs for the coming festival season.
At present, Flipkart's total seller base is 60,000.
If Sachin Bansal sells his stake at a little over 5 per cent and steps down from Flipkart, as reports have suggested recently, either Binny Bansal or Kalyan Krishnamurthy, CEO of Flipkart, could be an option for the leadership position.
The company has also issued a ban on all non-essential domestic and international business travel, and is encouraging employees who may have returned from international travel to work from home for 14 days.
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
Loses notional value by 37.5% because of markdowns by investors
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
The aim is to replace nearly 40 per cent of its existing last mile fleet of delivery vans with EVs by March 2020. o start with, the company is looking at deploying nearly 160 e-vans by the end of 2019.
Pilot project in Bengaluru; Snapdeal got into the category last month
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.
Flipkart claims to have more than 90,000 sellers on its platform.
The strategy these online marketplace companies follow in the next few months will determine whether Amazon gets to be the leader in 2017.
In its highest ever reduction in seller fees, ecommerce giant Amazon India has introduced zero referral charges on over 12 million products on its platform that are priced below Rs 300. The move is aimed at boosting seller growth on Amazon.in and supporting hundreds of thousands small businesses across the country.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
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).
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
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.
The Central Consumer Protection Authority (CCPA) has issued notices to five e-commerce entities, including Amazon, Flipkart and PaytmMall, as well as various sellers for offering pressure cookers that are non-compliant with BIS norms. The notices were issued on November 18 to Flipkart, Amazon, Snapdeal, Shopclues and PaytmMall, and the sellers. As part of celebrations of 75 years of Independence - 'Azadi ka Amrit Mahotsav', CCPA has initiated a country-wide campaign to prevent sale of spurious and counterfeit goods that violate Quality Control Orders published by the Centre, the government said in a statement on Monday.
E-commerce firm Amazon India has announced the creation of over 110,000 seasonal job opportunities across its operations network as it prepares to serve millions of customers throughout India during the upcoming festival season. These positions include both direct and indirect roles in cities such as Mumbai, Delhi, Pune, Bengaluru, Hyderabad, Kolkata, Lucknow, and Chennai, among others. Notably, Amazon has hired thousands of women and nearly 1,900 individuals with disabilities into its existing network.
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
Flipkart intends to use the funds for building and strengthening its technology capabilities, bolstering the robust supply chain and developing the talent pool.
After a massive selloff in the shares of food delivery giants Zomato and Swiggy, analysts believe the time may be right for investors to start adding these stocks to their portfolio carts. Their optimism, they say, stems from the sharp correction in stock prices and valuations, which seem to have "over-baked" concerns about the two companies.
