Arch rivals Flipkart and Amazon come up with strategies day-by-day, in order to surpass the competition and stand as number one in the market. In consideration to the fact, the domestic e-commerce giant, Flipkart is looking to invest $25 million (Rs 160 crore) in Silicon Valley to upgrade its technology heap by focusing on deep technology, […]
Walmart may acquire a 15-20% stake in Flipkart, allowing them to combine synergies to compete with Amazon in India. US leading retail store chain WalMart is in advanced talks to buy a minority stake in Indian e-commerce firm Flipkart, Indian financial daily the Economic Times reported on Tuesday. Walmart could buy a 15 percent to […]
Flipkarts payment wallet PhonePe today said it has partnered mobile wallet company FreeCharge to allow the latters customers pay for transactions at PhonePes partner merchants. According to the deal terms, PhonePe has now enabled its over 45 million users to link their existing FreeCharge wallets to the PhonePe app, PhonePe said in a statement. Once […]
Indian online e-commerce giant Flipkart has recently completed its $100 million re-purchase of employee stock options (ESOPs), marking it the largest share buyback programme in Indian startup history, a financial daily reported. In a release on Wednesday, Flipkart said that over 3,000 existing and former employees of Flipkart, PhonePe, Myntra, and Jabong had participated in […]
Japanese multinational telecommunications corporation SoftBank Group has offered to buy shares from investors and former and existing employees of Indian e-commerce website Flipkart, valuing it around $9-10 billion. SoftBank has offered to buy Flipkart shares at $85-89 per share, Mint reported. The price range values Flipkart slightly lower than the pre-money valuation it clinched in […]
Flipkart founders Binny and Sachin Bansal and three other executives have found themselves into another legal battle. As per the recent report by TOI a Bengaluru businessman Naveen Kumar, owner of C-Store Company has filed an FIR against them for a Rs 9.96 crore fraud. The copy of FIR with TOI quoted sales director Hari, […]
[dropcap]A[/dropcap] group of nine people posing as online sellers exploited Flipkart’s Seller Protection Fund (SPF) and cheated the billion dollar e-commerce giant. The fraud was being committed since the early 2017 where a group of posers, registered as Flipkart’s online seller found a work-around to cheat the company. As per the police report, they studied […]
After disrupting the telecom industry in India, Reliance Jio is now set to launch an ecommerce platform, leveraging its penetration and millions of subscribers. As per the reports by ET the company is working with kirana stores and consumer brands to let people buy locally using coupons via Jio Money platform or even text messages. The project […]
Indian e-commerce Unicorn Flipkart’s digital wallet Phone Pe has made a bold move to challenge Paytm, by launching a unique PoS(Point of Sale) device- which looks like a small calculator backed with Bluetooth technology as a payments solution for merchants. The device has several features that makes it fit for a Indian merchants. Priced at […]
India’s Ecommerce Unicorn Flipkart is planning to relaunch its loyalty programme to compete with Amazon Prime that has become a key differentiator for the American internet giant. The online retailer is in talks with online travel portal MakeMyTrip and event and tickets booking platform BookMyShow and cab aggregator Ola to provide its consumers more value-added services through […]
E-commerce firm Flipkart is in talks for a partnership with online ticketing platform BookMyShow in a bid to build out its services and transaction offering, the Economic Times newspaper reported. The talks are at a preliminary stage and may see Flipkart picking up a significant minority stake in BookMyShow, two people familiar with the discussions […]
Confederation of All India Traders (CAIT), leading advocate for small traders and businesses in India, with around 6 crore merchants across 40000 affiliates, urged the government to take action against e-commerce firms like Amazon and Flipkart, accusing them of violation of FDI norms by undertaking retail trading activities.