Myntra founder Mukesh Bansal takes over as marketing chief.
According to experts, the company might be trying to ape Amazon, the largest e-commerce player in the world.
Sellers on platform listed products out-of-stock on Monday against increased commission, fees on returns.
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.
Taxing SoftBank, the largest shareholder in Flipkart with a little over 20 per cent stake, however, will be easier.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
'If you are watching cricket and don't want to leave the screen, you could check the menu and order through Zomato (or any other app) from a small part of your screen. That is what we are working towards.'
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
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.
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.
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.
The tide of startup-funding is turning in India, with a rising trend of overall funding while the deal sizes grow bigger. However, the spotlight now is on late-stage startups, many of which are seen to be headed for initial public offerings (IPOs). Record surge in stock markets and consistently improving performances of listed startups are understood to have turned the sentiment for the better, especially for those that exhibit a clear path to an IPO.
Flipkart's Big Billion Days festive sale started on Oct 13.
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
The term sheet with Flipkart could be signed within this week and the due diligence for the deal would commence immediately thereafter.
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
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.
With an existing consumer base of 400 million across airports, electricity and gas distribution businesses, the Adani group is revving up its retail play. It is planning to use the 2.4 billion consumer interactions a year with group companies to push various products and services. The group has already launched the 'Adani One' super app that will eventually sell products across the spectrum, top executives said.
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.
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.
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.
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.
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.
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
