Binny Bansal Pares Down Flipkart Stake, Sells $76 million Worth shares

Binny Bansal, co-founder of India’s e-commerce behemoth Flipkart, has sold Flipkart shares worth $76 million (Rs 531 crore) to Walmart’s Luxembourg based subsidiary arm, according to business intelligence platform Paper.vc. This has brought Bansal’s stake in the Walmart owned company from 3.85% to 3.52%. Binny Bansal sells $76 million worth Flipkart shares to Walmart arm Bansal had…

ByGirish ShettiJune 24, 20190Comments

News

Flipkart shifts to ‘Made in India’ label for In-house brands

In a major boost to Indian government’s Make in India initiative, Flipkart has shifted major part of the manufacturing base for its in-house brands from foreign locations to home country India. Almost one year ago the Walmart owned company used to assemble and source substantial part of its private label from neighboring countries like China…

ByGirish ShettiJune 10, 20190Comments

News

Mumbai Court Bars Flipkart from Selling GOQii Products

Smart wearables startup GOQii on Monday got a major reprieve from Mumbai civil court in its ongoing tussle with Flipkart over the issue of predatory pricing. The court passed an interim order to prevent Flipkart from selling GOQii’s products on its online shopping platform. GOQii founder Vishal Gondal took to twitter to make public announcement…

ByGirish ShettiMay 28, 20190Comments

News

Flipkart weighs heavily on Walmart’s Q1 Results

Walmart Inc. saw a substantial decline in its gross profit rate and operating income during the first quarter (February-April) of the current financial year. Much of this decline has happened due to the cost incurred by the inclusion of Flipkart, which the retail giant acquired last year for a whopping $16 bn. Walmart's Q1 international operating…

ByGirish ShettiMay 17, 20190Comments

Funding News

Flipkart Issues $100m Esops to Retain key Talents

Flipkart has resorted to the time and tested idea of Esops in order to retain its key talent for coping with increasing competition in India’s ecommerce sector. According to Economic Times (ET), India’s home grown e-commerce giant has issued fresh tranche of Esops to its senior as well as middle-level staff. Esops have also been…

ByGirish ShettiMay 11, 20190Comments

Funding News

Sachin Bansal’s Hibernation Period may soon come to end: Report

Flipkart co-founder Sachin Bansal is reportedly planning to invest funds to acquire majority stake in a Bengaluru-based microfinance firm. The firm has been identified as Chaitanya India Fin Credit (CIFCPL), according to sources familiar with the matter. Sources claim that Bansal is planning to acquire 75% stake in CIFCPL and talks between the two parties…

ByGirish ShettiApril 12, 20190Comments

News

Flipkart is Once Again Fueling Its Fintech Ambition: Report

Last year Flipkart’s plan to enter into fintech space got stuck into a major limbo, after Supreme Court barred private fintech companies from using Aadhaar based eKYC services. However, Walmart owned company is now once again re-fueling its fintech ambition with a small pilot project. The buzz is that the company is working on creating…

ByGirish ShettiApril 8, 20190Comments

Acquisitions

Flipkart gets Sued for Last Year’s Upstream Acquisition: Report

Flipkart’s acquisition of Israeli startup Upstream last year – the first major acquisition post Walmart takeover – has landed the online retail giant in a legal tangle. Wolet Capital Corp (WCC), an investment bank that mainly focuses on US-India accusation deals, has sued Flipkart for non-payment of advisory fees. Last Year’s Upstream Acquisition has landed Flipkart…

ByGirish ShettiFebruary 27, 20190Comments

News

Flipkart’s New Office may Land you in a Co-working Space

Walmart owned Flipkart is now looking for a new office in Bengaluru that will stand as a separate entity from its sprawling head office inside the Bengaluru’s Embassy Tech Village. However, this new office may land you in a co-working space and not in a traditional rental office. Flipkart in talks with WeWork & others for…

ByGirish ShettiJanuary 8, 20190Comments

News

Flipkart and Amazon may not offer Deep Discounts from next year & here’s why

E-commerce giants like Flipkart and Amazon will have to brace for some tough rules from next year as the Indian government has come out with new e-commerce guidelines. These guidelines will come into effect from 1st February 2019, leaving barely one month to e-tailers to get their acts together. These new rules have set forth…

ByGirish ShettiDecember 27, 20180Comments

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