Monday, November 18

Tag: flipkart

Flipkart’s Top Level Exodus Continues as CFO Sanjay Baweja Quits
26Oct By NitishNo Comments
News

Flipkart’s Top Level Exodus Continues as CFO Sanjay Baweja Quits

Flipkart's Chief Financial Officer Sanjay Baweja has put in his papers after a two-year stint, marking the latest top-level exit at the e-commerce major. "Flipkart CFO Sanjay Baweja has quit. The company has started searching for his replacement. Baweja will continue to work with company till December 31, 2016," an industry source told Pixr8. When contacted, a Flipkart spokesperson confirmed the development. Baweja joined Flipkart from Tata Communications about two years back. Flipkart's head of commerce and advertising business Mukesh Bansal and Chief Business Officer Ankit Nagori resigned from the company in February this year. Nagori quit the firm to start a venture in the sports domain where Flipkart's Co-Founders Sachin and Binny Bansal are the first investors. Later in Ap...
Read More
Myntra’s Big Billion Days – 10 Things to Look Forward to
2Oct By NitishNo Comments
News

Myntra’s Big Billion Days – 10 Things to Look Forward to

India's leading platform for fashion brands and a pioneer in m-commerce Myntra's Big Billion Days (BBD), is right around the corner and here are a few great picks that you absolutely can't miss at Myntra. Sanhita Dasgupta, Myntra Fashion Stylist, tells you how to dress-to-impress by picking great ethnic outfits this festive season and shares tips on styling them perfectly.   Women Straight Kurta: This silhouette has officially taken over the women's fashion world. Colourblock, quirky printed or solids, the options are plenty. They are delicate, feminine and graceful, just like you. Pair them with palazzos to complete the look. Cropped Palazzos:This breezy bottom wear is exactly the thing you need in Indian weather. Comfortable yet stylish, they can take your ethnic avatar to a...
Read More
Flipkart Crosses 100 Million Users, Become First E-commerce Firm To Achieve This Milestone
21Sep By PriyankaNo Comments
News

Flipkart Crosses 100 Million Users, Become First E-commerce Firm To Achieve This Milestone

India's leading e-commerce platform Flipkart has crossed the 100-million registered users mark, becoming first e-commerce company in the country to achieved this milestone. "This is a small step in our efforts to build a platform that provides quality products, affordable and accessible to millions of Indians shopping online. This milestone has further energized us to ramp-up our efforts and build a world-class shopping destination," Flipkart co-founder and CEO Binny Bansal said. One of the most valued start-ups in the country, Flipkart has Tiger Global, Accel Partners, Morgan Stanley and T Rowe among its investors. The company has raised over USD 3 billion in funding so far and has acquired companies like Myntra, PhonePe and LetsBuy. It has also invested in start-ups like Cube26, NestAw...
Read More
Flipkart & Snapdeal Will Hire 20000 Staff Ahead of Festive Season
11Sep By Press Trust of IndiaNo Comments
News

Flipkart & Snapdeal Will Hire 20000 Staff Ahead of Festive Season

E-commerce major Flipkart expects to hire over 10,000 temporary staff to ramp up its delivery and logistics service to meet the festive demand. The move comes as part of the preparations being made by e-commerce companies as they launch offers to boost sales during the upcoming festive period. "With the festive season coming in, we are confident that Big Billion Days (sale) will be bigger and better than before this year. "In addition to having the new capability of alternate delivery model, we are looking at hiring more than 10,000 temporary staff in logistics and last mile across the country," Flipkart Chief Administrative Officer Nitin Seth said. This will be done to meet the massive demand that Flipkart expects during the festive season, he added. Flipkarts rival Snapdeal al...
Read More
Flipkart Will Provide Rs 75 Cr Loans to Sellers
25Aug By AnkitaNo Comments
News

Flipkart Will Provide Rs 75 Cr Loans to Sellers

E-commerce major Flipkart, after facilitating loans worth Rs 125 crore for sellers on its platform in last one year, is looking to help merchants avail credit facility of over Rs 75 crore in the next few months. The Bengaluru-based firm, which has partnered eight financial institutions including Axis Bank, Bajaj Finserv, NeoGrowth, Lendingkart and Capital First to offer collateral-free loans to sellers on its platform, has already disbursed Rs 125 crore worth of loans in the last one year. Under the Flipkart Growth Capital programme, launched in July last year, Flipkart sellers can avail loans with interest rates starting at 11.40 per cent, Flipkart said in a statement. The programme had received over 3,000 applications in the initial months of the launch and over 800 loans have b...
Read More
Flipkart Owned Myntra Acquires 51% Stake in ‘HRX’
14Aug By AnkitaNo Comments
ACQUISITION

Flipkart Owned Myntra Acquires 51% Stake in ‘HRX’

Flipkart-owned Myntra has acquired majority stake in HRX, the active lifestyle brand co-owned by Bollywood actor Hrithik Roshan, and Exceed Entertainment. The company did not disclose the quantum of stake acquired as well as cost of the acquisition. In an emailed statement, it said: "Myntra has bought stakes from Hrithik and Exceed. Both Hrithik and Exceed will continue to be shareholders in HRX." This move is in a bid to further strengthen Myntra's successful private brands business, it added. HRX, one of the first homegrown Indian active lifestyle brand incepted in 2012, was exclusively licensed to Myntra in 2013, and has been one of the top selling brands on Myntra since then. HRX is on track to double its revenues to Rs 200 crore in the current financial year and is ...
Read More
Myntra Has Acquired Jabong, Pips Future Group & Snapdeal
26Jul By PriyankaNo Comments
ACQUISITION

Myntra Has Acquired Jabong, Pips Future Group & Snapdeal

Myntra, a fashion portal owned by India's largest online retailer Flipkart has acquired online merchandise retailer Jabong. Sachin Bansal, Flipkart's co-founder, confirmed the news by welcoming Jabong India to the Flipkart family in a tweet. Welcome @JabongIndia to the @Flipkart family. We'll create history together.— Sachin Bansal (@_sachinbansal) July 26, 2016 The talks of sale were fueled by reports that Jabong's current owners AB Kinnevik and Rocket Internet were reluctant to pump in more money into Jabong. According to Mint, Kinnevik was seeking a valuation of USD 100-150 million for Jabong. After the deal, Jabong will become part of Myntra which in turn is owned by Flipkart. Earlier there were speculations that Kishor Biyani-led Future Group is in talks to buy Jab...
Read More
ShopClues Not Looking For Any Mergers With Flipkart
21Jul By RishabhNo Comments
Entrepreneurs Talk

ShopClues Not Looking For Any Mergers With Flipkart

E-commerce firm ShopClues today refuted reports that it is in talks with rival Flipkart for a merger. "Really speaking, it is not the fact. Of course, mergers help but do not guarantee businesses to grow," ShopClues CEO Sanjay Sethi told reporters. Sethi said if money was the sole criterion to make and sustain a business, Tatas and Birlas would have merged their companies. "If money was the only reason why businesses have to be made and sustained, then Tatas and Birlas should be one entity, but they aren't. They are competing with each other," he said. Sethi also said it is wrong to link Flipkart and ShopClues on the basis of a common investor - Tiger Global. "The largest investor in our company is Nexux Venture, which is also a very large investor in Snapdeal. Nexus Venture has bee...
Read More
Almost 70% of Startups Globally Will Fail: Kris Gopalakrishnan
19Jul By NitishNo Comments
Entrepreneurs Talk

Almost 70% of Startups Globally Will Fail: Kris Gopalakrishnan

Infosys Co-Founder and former CII President Kris Gopalakrishnan today said almost seventy per cent of startups globally will fail and only five to ten per cent will become large and scale up. "Almost seventy per cent of startups will fail. About 20 per cent will survive but will not grow. They will remain small enterprises, and may be only five to ten per cent will become large and scale up - that is the spastics globally," he told reporters at the announcement of the 12th Innovation Summit 2016 here, of which he is the chairman. This should not, however, be treated as a concern or a challenge, but it is a part of natural process of evolution, he added. "The key is what are the learnings, and how do we continue to nurture this," he said. Asked who has made a mark globally ...
Read More
Markdowns Of Flipkart Doesn’t Matter: Sachin Bansal
3Jul By RishabhNo Comments
Entrepreneurs Talk

Markdowns Of Flipkart Doesn’t Matter: Sachin Bansal

Recently Flipkart was marked down in it's valuation by a couple of investors and third- parties! Sachin Bansal, the founder of the e-commerce giant Flipkart considers them as their " opinions" and cited the case of Uber to illustrate that it will not impact fundraising plans of the e-commerce major. "That does not matter. If you look... they did it to Uber as well. Uber raised (money) at a higher valuation. They did it to one more company, they also raised money at higher valuation," Bansal said on the sidelines of an event. "I think it does not matter, people have their own opinions and it is their own opinion," he added. He was also confident about the fact that these statements will not have any impact on the company's future fund raising. For now, Flipkart is pretty well capita...
Read More
Flipkart Emerged as The India’s Most Preferred E-commerce Platform
3Jul By AnkitaNo Comments
News

Flipkart Emerged as The India’s Most Preferred E-commerce Platform

India's most trusted e-commerce brand Flipkart has emerged as the most preferred platform across the nation. The e-commerce portal stands out on the customers preferences, reported a consumer study conducted by research firm Red Seer Consulting. The platform that offers maximum value for money and a wider meaningful assortment has been voted highest among all e-commerce platforms in India, which includes customer support, ease of return, refund and reverse pick up speed. The survey titled 'The Indian e-tailing Leadership Index' is based on over three thousand customer interviews and six thousand delivery instances across the country. Some of the parameters that customers across India were surveyed include brand trust, value, product variety and availability, ease of return, web and a...
Read More