E-commerce major Flipkart said it has acquired Israel-based Upstream Commerce for an undisclosed amount as the Walmart-backed firm aims to further strengthen its selection and pricing capabilities. Flipkart, which is locked in an intense battle for market leadership in India against American rival Amazon, will get access to advanced data science-based intelligent solutions through the […]
After the Flipkart-Walmart deal, many steps have been taken by Walmart in favor of the merger. This time the company has planned to purchase from Flipkart employees ESOPs worth nearly $800 million. The worth of Flipkart’s total Esop is about $1.5 billion based on the per-share purchase price. Flipkart announced to its current employees that […]
With the upcoming festive season, the e-commerce platforms are gearing up for various mediums to attract customers through methods like festive season sale and offers. With this, the e-commerce player Flipkart has come up with a fresh feature that is a credit line for customers to complete their shopping on the platform. This credit line […]
Soon after the Walmart-Flipkart deal, four senior leaders from the US retail giant have been appointed at the Flipkart Group level. The four senior leaders will make the transfer by October. The executives that are supposed to make the transfer are Walmart’s M&A head Emily McNeal, who will join the Flipkart Group as senior vice president and […]
One of the largest retail player Walmart has reportedly paid Rs 7,439 crore tax on the payments the company made to acquire the shares of 10 major shareholders of Flipkart. Various shareholders of Flipkart including the major ones like SoftBank, Naspers, venture fund Accel Partners and eBay, had sold their holdings to Walmart. On the […]
India’s most popular e-commerce platform Flipkart has announced that it has acquired an AI-led speech recognition startup Liv.ai. The primary purpose of this acquisition is to boost up an end-to-end conversational shopping experience for its customers. Along with this, voice integration could be available in some parts of the Flipkart platform as soon as 6-8 months. Liv.ai was started in 2015 […]
Nokia is coming up with an all-new device expected to be the Nokia 6.1 Plus which is to be launched in India on August 21. It is being said that the smartphone is expected to be exclusively available on Flipkart. The e-commerce major has also released a video teaser for the launch event featuring musicians Shankar, […]
US-based retail giant Walmart has now completed the deal with Flipkart to hold its 77 percent stake. After the closure, Flipkart’s future financial activities will be reported by Walmart International Business. Besides the acquisition part, Walmart also infused USD 2 billion of equity funding in Flipkart business. In the press release company said, “With the […]
Masayoshi Son led Japanese leading tech company SoftBank net profit soared more than 50-fold from a year earlier to 313.7 billion yen (USD 2.8 billion) in the latest quarter thanks to Flipkart acquisition and coworking space Wework growth in India. Last year in the same quarter, SoftBank‘s profits slumped to 5.5 billion yen due to […]
WS Retail which is Flipkart’s ex-in-house vendor and one of the biggest sellers in the Indian e-commerce sector has announced that it has stopped the sale of its products on the platform of Flipkart. The revenues of WS Retail declined 67% from Rs 13,900 crore in fiscal 2016 to Rs 4,600 crore in fiscal 2017. The company reported a […]
Flipkart plans to shut down eBay.in, which it had been operating for the last one year. However, eBay is anticipated to relaunch in India very soon as the strategic relationship between the two companies has ended. Flipkart Pvt Ltd. is an Indian electronic commerce company based in Bengaluru, India. Founded by Sachin Bansal and Binny Bansal in 2007, the company initially focused on […]
One of the leading digital payment platforms PhonePe that is owned by Flipkart has announced that the company has reportedly acquired Zopper Retail which is a hyper-local POS (point of sales) marketplace. However, the amount of the deal has not been disclosed. Neeraj Jain who is the founder and CEO of Zopper, will be joining […]