The latest infusion brings the total capital pumped into Amazon's e-commerce business in India to Rs 22,390 crore
The incident that happened on December 9 came to light only on December 11 when 28-year-old Nanjundaswamy's body was found at a building housing the gym in Vijayanagar Police station limits.
In June this year, the Bengaluru-based online marketplace has jumped into the fiercely competitive smart device market in India by launching its calling tablet for Rs 9,999.
Where Binny slipped up badly was in gauging the level of transparency and governance that is expected by a global strategic investor, says Indrajit Gupta.
The Bangalore-based company had raised $200 million in July from existing investors.
Commerce and Industry Minister Piyush Goyal on Wednesday questioned Amazon's announcement of $1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country. He said that their huge losses in India "smells of predatory pricing", which is not good for the country as it impacts crores of small retailers.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
Initially, private buyers will be able to make bulk purchases on Government e-marketplace, it will subsequently be broadened to small-ticket buying as well.
The Enforcement Directorate has been asked to investigate alleged violation of FDI regulations by e-commerce company Flipkart Online Services and cash & carry chain Bharti Walmart.
The two companies have been negotiating to remain separate entities after a merger.
CCI investigation into predatory pricing likely
The People's Choice Survey is an annual report by CashKaro.com, which identifies key trends in online shopping in India.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
After e-commerce, Flipkart has jumped into the fiercely competitive smart device market in India by launching its calling tablet for Rs 9,999.
If the deal goes through, Snapdeal founders will get $60 million (cumulative), of which half will be given to employees.
The range will include two Android JellyBean operating system-based handsets and two smartphones based on the latest Android KitKat OS.
'India has a lot of potential, not just in commercial aspects, but also in hiring of people and sourcing of products.'
Most e-commerce firms with 'Singapore holding structures' would opt out of the new Sebi platform
Flipkart on Tuesday launched a next-day delivery service.
'If you allow Walmart to operate in India, our manufacturing will finish completely.' 'What will happen to Narendra D Modi's dream then? There will be no Make in India.'
Financial details of the deal were not disclosed but a source in the company said the transaction was valued at close to $300 million.
The company did not disclose its new holding pattern.
Finally, some good news for the Indian startup ecosystem. After four consecutive half-year periods of declining funding since 2022, the first half (H1) of 2024 has shown an upward trend compared to the second half (H2) of 2023. According to the India Tech Semi-Annual Funding Report H1 2024 by Tracxn, Indian technology (tech) startups raised $4.1 billion in H1 2024, marking a 4 per cent increase from $3.96 billion in H2 2023.
Having 50 stores in India, it plans to double the number.
After all, talk of Amazon buying into Flipkart has been doing the rounds for long, although the two Bansals have denied it many times before.
Shopclues, the latest unicorn, was at the bottom of the sector loss pie.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Both Indian firms have been in talks with investors for nearly a year to raise fresh funds of as much as $ 1 billion, but with little success so far.
Amazon, however, claimed that it is just a service provider and doesn't own goods at any point of sale due to which it is not liable to pay this tax.
The company has often come under scrutiny for being dismissive about 'profitability' and unmindful of the high cost of running an inventory-led business, aided by deep discounts and free shipping.
Airtel starts 4G trial in Mumbai; partners Flipkart, Samsung.
Five founders of e-commerce start-ups, four of them Bansals, say they had alternative ambitions chalked out.
Recently, ex-Google executive Punit Soni joined FLipkart.
Did top Indian business groups miss the e-commerce opportunity by focusing on replicating the Walmart model instead of following the Amazon model of online shopping?
Bansals of e-commerce company Flipkart and Aditya Ghosh of low-cost carrier Indigo have made into Fortune's young achievers list for their initiatives in creating job opportunities.
After a tentative start, quick commerce (q-commerce) is ablaze, with Blinkit and Zepto slugging it out in a market distinct from other competitors. The latest entrant is Flipkart, which is ramping up its infrastructure in around 12 cities where it will launch the service in the next six to eight weeks, taking on existing players such as Blinkit, Zepto, Instamart, and BigBasket, among others. According to data analysed from Sensor Tower by BofA Global Research, the daily active user (DAU) base of Blinkit has grown by 58 per cent between February 2023 and February 2024.
Flipkart, founded by two former Amazon executives, Binny Bansal and Sachin Bansal, has been a talking point vis-a-vis Amazon's strategy in India.
After electronics and fashion, the next retail segment is food business.
Don't hit the buy button as soon as you hear of the next BIG online sale this Diwali. Here are some very important lessons -- in the light of how some online shoppers felt cheated after Flipkart's 'Billion Day Sale' -- that could save you time, money and peace of mind, says Rajiv Raj!
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
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