While Flipkart is still filling all legal documents and other details for the Walmart acquisition, Flipkart India, the wholesale arm of Flipkart, was able to cut down losses in FY17 by 55% when compared with FY16. According to filings at the Ministry of Corporate Affairs (MCA), Flipkart reported a net loss of $36 million (Rs […]
Masayoshi Son, founder of SoftBank Group Corp, the world’s largest private equity fund, announced that he was keen to set up a second Vision Fund in the near future, despite still having capital remaining in its $100 Bn Vision Fund of May 2017. In a conference held in Tokyo, the business mogul stated that capital […]
While foreign investments have been raining in Indian e-commerce marketplace, Foxconn Technology Group has announced another write off of an additional $40 million of its $200 million in e-commerce company Snapdeal. Earlier in August 2017, FIH Mobile had written in its annual report that its entire $200 million investment in Jasper Infotech ( Snapdeal owner and […]
E-commerce Unicorn Flipkart has announced a repurchase ESOP’s offer for its employees at a share price ranging from USD 125-129. The offer from the Bengaluru headquartered company comes in the wake of the completion of company’s acquisition by US retailer Walmart for roughly USD 16 billion. According to one of the sources familiar with the matter, […]
Post mega Flipkart-Walmart Acquisition, the e-commerce world has been buzzing with speculations all around as to how the mammoth deal will shape the coming scenario. Now, there is a new dimension that has come into play regarding SoftBank unwilling to sell its stakes to Flipkart. If SoftBank was to sell its 22.3% stake in Flipkart […]
The Income Tax department will seek purchase agreement from Flipkart on the mega e-commerce USD 16 billion buyouts by US retail mammoth Walmart to assess the tax liability and also find out whether the General Avoidance Rule provisions can be invoked as informed by an official related with the matter. The department id presently is […]
New Delhi: SoftBank founder Masayoshi Son yet not decided to sell its 20-22% stake in Flipkart to Walmart Inc., sources close to the company told to Pixr8 News. After seeing the valuation of the company, Masayoshi Son is in dilemma and will take a call in the next 7-10 days on whether to exit India’s […]
The deal is done and we are still digesting the news: Walmart. Inc has officially acquired Flipkart for $16 billion in a deal that soared the valuation of Indian e-commerce platform to over $20 billion, making it the biggest e-commerce acquisition ever globally. The brick-and-mortar company acquired 77% of the Indian e-tail business. While the […]
While the world hasn’t got over with mega e-commerce acquisition of leading giants, Flipkart CEO Kalyan Krishnamurthy has reached out to sellers on its platform reassuring that there will be no changes in the operating process of Bengaluru based firm post $16 billion acquisition deal with US retail major Walmart. Krishnamurthy has said that the […]
Indian market bolted a notch higher when a speculated news regarding World’s biggest brick and mortar, Future Group selling its 10 stakes to a leading global retailer surfaced in mid-afternoon today. Meanwhile, within stock market to the company witnessed a gain of 5 percent. The scrip which was at 12 percent at 10:02 am rose […]
eBay, the California-based online marketplace announced its decision to terminate its strategic partnership with Indian e-commerce Flipkart in an effort to relaunch eBay India with a differentiated offer to focus on cross-border trade, the company said in a statement released on Wednesday. The announcement comes few hours after reports of the confirmation of the acquisition […]
BigBasket, India’s leading startup in the online grocery market segment is holding talks with its existing investors to raise capital worth $500 million to compete with e-commerce market leaders Amazon and Flipkart (post-Walmart acquisition). BigBasket already raised a colossal $300 million funding led Alibaba Group Holding Ltd and others in February and are now beginning […]