Walmart buys 77% stake in Flipkart

Walmart Inc has agreed to pay $16 billion for a roughly 77% stake in online shopping site Flipkart, the U.S. retailer’s biggest foreign investment ever as it battles rival Amazon in one of the world’s biggest emerging markets. The remainder of the business will be held by some of Flipkart’s existing shareholders, including Flipkart co-founder Binny Bansal, China’s Tencent Holdings […]

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Karthik Rajeshwaran appointed Freecharge’s director of strategy

India’s fastest growing digital payments platform Freecharge has announced the appointment of Karthik Rajeshwaran as Director – Strategy. Karthik brings strong consumer perspective along with deep experience in working in a global startup ecosystem. He also brings on board a keen understanding of Indian consumer landscape. In his new role, he will deploy this expertise to usher-in consumer centric innovations to […]

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Flipkart crosses 100 million customers milestone

Homegrown e-tailer Flipkart has crossed the 100-million registered users mark, becoming the first e-commerce company in the country to hit the milestone. The Bengaluru-based company has doubled its user base over the last year and added 25 million users in the past six months alone. “This is a small step in our efforts to build a platform that provides quality […]

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Flipkart CEO Binny Bansal’s letter to employees on Jabong acquisition

Indian e-commerce industry, Flipkart-owned Myntra has acquired one of its biggest rivals Jabong. With the acquisition of Rocket Internet’s Jabong for $70 million, Flipkart now has almost over 50% of India’s fashion retail market. The fashion and apparel segment not only enjoys the highest gross margins globally, but is also among the fastest-growing segment among all e-commerce businesses. Welcoming Jabong to […]

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