These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
Sachin and Binny Bansal are the faces of the e-commerce sensation but other investors dominate the board.
Flipkart intends to use the funds for building and strengthening its technology capabilities, bolstering the robust supply chain and developing the talent pool.
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.
This is the sixth consecutive markdown in the valuation of Flipkart by the US firm.
Flipkart's Sachin and Binny Bansal may have become the poster boys of the Indian e-commerce industry, but there are a host of others who are emerging from the shadows.
'Big Billion Day' scheduled for October 6 is inspired by flat number where co-founders began their journey.
As Indians scrambled to exchange the banned notes for new currency, Paytm, Sharma's digital payments startup, went on a promotional spree, inviting Indians to start using Paytm's digital wallet to pay for everyday goods and services.
Becoming a unicorn is surely a marker for a company in its growth story, but it's not a major achievement nor is it a turning point of any significant worth.
India is the next major breeding ground for start-ups.
Prime Minister Narendra Modi and industrialist Mukesh Ambani feature amongst the most searched personalities online this year, according to search engine Yahoo.
Every competitor is eyeing the top slot that Flipkart holds.
The company did not disclose its new holding pattern.
Contributors to Team Indus project will have names etched on an object going to space.
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
Some companies are already seeking review of the new norms.
Duterte had consistently led the Time 100 Reader Poll, an online survey in which the publication had asked its readers to vote for who should be included in this year's Time 100 list of the world's most influential people.
In spite of the mega IPO of Alibaba, Flipkart-Myntra is not thinking of a public offering at this point
Flipkart has started working on it big day sale around six months ago.
While Team Indus had backing from Nandan Nilekani, Ratan Tata and Flipkart founders Sachin and Binny Bansal, it could not even muster half of the Rs 4.5 billion it required for the mission to the moon.
The e-commerce firm said 1.5 million people shopped at its portal on October 6.
Amazon has emerged a competition for posterboy of Indian e-commerce Flipkart.
Most of Flipkart's business came from consumer electronics.
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.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
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
Vikramank Singh looks back at the year gone by!
These start-ups are different from the ones that have made it big in India.
The top posts on social media from your favourite Bollywood celebrities.
On Tuesday, while several consumers took to social media to share their grievances about the Snapdeal site crash, many others said they visited the website to either compare prices or for window shopping.
With the festive season approaching, e-tailers are going all out to woo consumers.
CCI investigation into predatory pricing likely
A number of Xooglers are employing lessons and practices learnt during their stint at Google to branch out into innovative ventures.
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Buyers complain about server errors, allege discounts were 'not real'.
Investing in start-ups can be highly rewarding, but direct investing is not meant for everyone. For the majority of wealthy investors, taking the private-equity route could still be the better option.
Suveen Sinha finds out what the tribe of modern, internet entrepreneurs who no longer run their first start-ups are up to.
For now Walmart has said it remains optimistic about India. But that could change without prior notice, says Nivedita Mookerji.
While New Jersey, US-based OrbitBeyond leads a consortium of subcontractors who have designed and developed hardware for deep space missions, Bengaluru-based Team Indus is leading OrbitBeyond's lander engineering, reports T E Narasimhan.
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