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
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
Amazon has emerged a competition for posterboy of Indian e-commerce Flipkart.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
Loss of investor confidence in Flipkart last year sparked off a chain reaction in startup sector
Bengaluru-based Nestaway's co-founder Amarendra Sahu has filed an First Information Report (FIR) alleging fraud, cheating, forgery of documents and criminal intimidation against Tiger Global, Chiratae Ventures and Goldman Sachs, in a rare instance of a startup founder filing a criminal complaint against its investors. The investors have approached the Orissa High Court, seeking to quash the FIR filed in September last year with the Bhubaneswar Police. The next hearing of the matter is scheduled for January 9.
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.
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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.
Flipkart eyes another $500 mn from eBay, which seeks to merge India ops with it and exit business
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.
Quick commerce (qcom) industry is poised to lead gig workforce hiring in 2025, propelled by a surge in demand for faster deliveries, expansion by existing players, entry of new competitors, and evolving consumer preferences in the post-pandemic era, according to industry experts. The qcom industry currently employs nearly 260,000 people - around 200,000 delivery personnel and 60,000 dark store workers, according to TeamLease Staffing.
Bengaluru-based Sunny Gupta had been searching for a laptop for months. In August, while sitting at a coffee shop, he decided to order an Acer Predator laptop - typically priced between Rs 95,000 and Rs 2.5 lakh - through the quick-commerce (q-com) platform Flipkart Minutes. "It took exactly 13 minutes from payment to receiving it at the Starbucks I ordered it to," he wrote in a now-viral post on social media platform X.
Musk said on Friday that he believes India-US ties are "trending positive" and that he favours an enhanced trade partnership between the two nations.
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.
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.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
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.
At present, Flipkart's total seller base is 60,000.
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
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.
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
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.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
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.
Pilot project in Bengaluru; Snapdeal got into the category last month
Flipkart claims to have more than 90,000 sellers on its platform.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
The strategy these online marketplace companies follow in the next few months will determine whether Amazon gets to be the leader in 2017.
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.
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).
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
The Walmart chief stated that the values of the two companies were "very much aligned"
The government is set to examine concerns over quick commerce companies potentially undermining businesses of local kirana stores, particularly in the context of the draft Digital Competition Bill, according to official sources. The Ministry of Consumer Affairs recently raised the issue with the Ministry of Corporate Affairs during discussions around the proposed legislation. "We need to assess if and how the Bill can address these concerns and explore further steps to include provisions to keep a check," a senior official stated.
For food aggregator platform Swiggy, quick commerce (qcom) is proving to be a better growth opportunity than food delivery. Its qcom arm Instamart is rapidly outpacing its core food delivery vertical across several key financial metrics, the company's recently filed draft red herring prospectus (DRHP) shows.
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.
The deal that promises to make Flipkart a leading force in fashion segment - estimated at Rs 3 lakh crore - came after hectic weekend parleys.
Dabbawalas have been in the profession of transporting lunch boxes.
