Analysts and venture capitalists say Flipkart making considerable losses on book transactions.
This is the sixth mark down for the largest e-commerce marketplace of the country in as many months.
A 30-year-old delivery man was allegedly killed when he went to deliver an iPhone to a customer who was supposed to pay him Rs 1.5 lakh for the product, police said on Monday.
Most of Flipkart's business came from consumer electronics.
The e-commerce firm said 1.5 million people shopped at its portal on October 6.
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.
Doubts over Flipkart's valuation will persist.
Flipkart has described the event as 'rare' and 'isolated'.
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
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.
The move comes after Flipkart decided to pass on shipping costs to its sellers, including charging them for reverse logistics.
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.
Manish Tiwary plans to take up a new role at another firm.
Flipkart has started working on it big day sale around six months ago.
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.
With the festive season approaching, e-tailers are going all out to woo consumers.
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
Flipkart is in expansion mode, needs to infuse funds in the firm.
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Buyers complain about server errors, allege discounts were 'not real'.
JLL had shortlisted over 10 developers and Embassy was selected after a long due and rigorous process of due diligence.
The company has notched up a total of $540 million in funds over the last six years, $360 million of which has flowed in two tranches this year itself.
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.
Flipkart might consider Singapore, too, as listing norms aren't very strict.
The management changes come amid talks that the company is preparing for an IPO in the United States.
The complaint has been received against these online trading entities weeks after an uproar over Flipkart's massive discount sale which had raised concerns of anti-competitive practices.
Also on Flipkart's to-do list is getting people from the Silicon Valley on its rolls.
Google will be able to co-relate data from the first click to the final delivery of product. This kind of knowledge is invaluable, something which even Amazon does not have.
Sources said the fresh batch of profiles include students whose date of joining has been delayed by Flipkart.
A combination of bank guarantees, letters of credit, buyer's credit for computer servers have been provided to the two local operational arms by Kotak Mahindra Bank and Deutsche Bank.
This will be done to meet the massive demand that Flipkart expects during the festive season
Sachin and Binny Bansal are the faces of the e-commerce sensation but other investors dominate the board.
'Big Billion Day' scheduled for October 6 is inspired by flat number where co-founders began their journey.
The service is available in Bengaluru, Delhi, Mumbai, Kolkata, Noida, Gurgaon, Faridabad, Manesar, Navi Mumbai and Thane and will be scaled up to other cities soon
Ecommerce firm Amazon has infused ~1,600 crore into its India entity Amazon Seller Services, according to its regulatory filings. The funding comes at a time when the company is seeing opportunities in emerging geographies, including India. The regulatory filings are dated April 15. This is the second time in five months that Amazon invested in its India arm Amazon Seller Services. Before this, Amazon had infused over ~1,000 crore into its Indian entity this year.
Amazon India has caught up with Flipkart and overtaken Snapdeal in terms of monthly unique visitors.
Flipkart's value has eroded by a third from a peak of $15.2 billion to as low as $9 billion following several investor markdowns
20 start-ups that beat decades old companies in valuations.
Flipkart, the poster boy of Indian e-commerce, hit a new high by raising $1 billion (about Rs 6,000 crore) in the latest funding round, led by existing investors Tiger Global Management and Naspers.
Recently, e-tailing major Flipkart released the Digiflip Pro XT 712.
