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.
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.
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.
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 community has taken offence to being wrongly stereotyped as watchmen in the ad which also plays on an exaggerated Hindi accent to seem funny
Rejig likely every few years to make company flexible to the changing needs of business
In 2014, the e-commerce industry created about half a million jobs.
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.
In an email to customers they say 'Big Billion Day' sale today to eclipse all other multi-day festive sales.
Union Minister of Commerce and Industry Piyush Goyal's recent comments on large e-commerce players have reignited the debate about their impact on smaller offline retailers. On Wednesday, Goyal said that the rapid growth of e-commerce in India is a "cause for concern" and is diminishing the market share of small, mom-and-pop stores by offering high-margin products such as consumer electronics and apparel at discounted rates.
The term sheet with Flipkart could be signed within this week and the due diligence for the deal would commence immediately thereafter.
Flipkart's Big Billion Days festive sale started on Oct 13.
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
American chip behemoth Nvidia Corp and India's retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on "manufacturing" AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance's one-gigawatt data center in Jamnagar, Gujarat.
In India, Amazon has taken an open cheque policy by sinking in over $2 bn to grow its business and tried to build local innovations to help it score over local players Flipkart and Snapdeal.
E-commerce major Flipkart has been ranked second among top book sellers of the world.
The filing of Swiggy's DRHP has led to direct comparisons with Zomato, which is a direct competitor in food delivery and the fast-growing quick-commerce segment where Blinkit (owned by Zomato) faces off against Instamart (and Zepto). In Q-commerce, Flipkart, Amazon, Reliance and Big Basket are all entering the space. All of them have deep pockets, hence competitive intensity will rise going forward.
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
E-commerce major Flipkart on Monday said it aims to help over 10,000 sellers generate business worth Rs 10 lakh through its platform this year.
It has also filled a key gap in its payment systems team by hiring Ravi Byakod, a senior Google engineer.
The US-based firm has marked down the value of Flipkart for the sixth time, the latest at a time when it has been struggling to raise funds at a valuation higher than or equal to $15.2 billion.
Flipkart's current valuation is an estimated $12 billion.
This is the sixth mark down for the largest e-commerce marketplace of the country in as many months.
Analysts and venture capitalists say Flipkart making considerable losses on book transactions.
In two months, as many as 25 complaints have been sent to Enforcement Directorate, Competition Commission of India, Reserve Bank of India and income tax department, beside various state agencies, to thwart the deal.
Having marked a 20-year milestone in India, global tech giant Google is upbeat about its next innings here with Artificial Intelligence (AI) playing a big role in it, India MD Roma Datta Chobey said on Thursday, adding that the company is aligning its vision and strategy fully to the country's growth and ambitions. In an interview to PTI, Chobey said Google believes that AI should be regulated but in a way that strikes a fine balance between user benefit -- which is "still at a nascent stage" -- and at the same time, fosters innovation.
Most of Flipkart's business came from consumer electronics.
The Kerala commercial taxes department has slapped a fine of Rs 53.63 crore (Rs 536.3 million) on four online trading companies including Flipkart and Jabong for allegedly doing illegal business in the state.
The e-commerce firm said 1.5 million people shopped at its portal on October 6.
While only the Indian Institute of Management, Ahmedabad (IIM-A) has voiced its concerns so far, the company says it has done so due to the ongoing restructuring of its business
Flipkart has described the event as 'rare' and 'isolated'.
Doubts over Flipkart's valuation will persist.
The move comes after Flipkart decided to pass on shipping costs to its sellers, including charging them for reverse logistics.
Flipkart also faced criticism earlier this year after it deferred the joining dates for campus recruits from the Indian Institutes of Management and Indian Institutes of Technology
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.
Flipkart has started working on it big day sale around six months ago.
CAIT had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.
Prominent print advertisements on Monday pitched Amazon's discount strategy against Flipkart's.
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.
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