Kalyan Krishnamurthy

Flipkart CEO confirms sellers about no change in operating processes

11May By Lavina TolaniNo Comments

News

Flipkart CEO confirms sellers about no change in operating processes

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 company will continue to focus on making sellers succeed adopting the "same vigour as in recent years". Flipkart and Walmart will maintain distinct brands and operating structures post the investment, the CEO said while reinforcing that Flipkart will continue to remain a marketplace where sellers from around the country can connect with customers. The Bentonville, Arkansas-based retail mammoth Walmart Inc took the world to storm after it of...

Sachin Bansal, Co-Founder of Flipkart Will Leave Post Walmart Acquisition

8May By Sheldan RungasamyNo Comments

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Sachin Bansal, Co-Founder of Flipkart Will Leave Post Walmart Acquisition

Sachin Bansal, Executive Chairman and co-founder of Flipkart is set to sell his entire 5.5% stake of his company to American brick-and-mortar giant Walmart as the acquisition of India’s largest tech company seems imminent. Three people close to the company reported the news which was subsequently shared on various platform. Indeed, Sachin Bansal might be living his last days at the company he co-founder and grew to reach the homes of almost every Indian as Walmart prepares its $12-15 billion bid to acquire the e-commerce business valued to be worth $20 billion. The 5.5% stake he stills owns in the company will be sold for a reported $1 billion, making him an instant billionaire. Sources close to the company suggested that Sachin was “not aligned with the strategy and operating struct...

Flipkart to Re-Enter Grocery Segment: Flipkart CEO Kalyan Krishnamurthy

9Apr By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Flipkart to Re-Enter Grocery Segment: Flipkart CEO Kalyan Krishnamurthy

Locked in an intense battle with Amazon, homegrown e-commerce major Flipkart is looking at re-entering the grocery segment that accounts for a significant portion of Indias retail industry. "Yes we will get into grocery... 80 per cent of units bought in India is grocery... USD 400-600 million is grocery market, so we have to get into it," Flipkart CEO Kalyan Krishnamurthy said at a TiE event here. This will be the second attempt into the grocery segment for the Bengaluru-based firm. In October 2015, Flipkart had launched a separate groceries ordering app called Nearby for delivering fruits, vegetables, soaps and other staples from supermarkets to customers. However, following a weak response, Flipkart closed the business a few months later. Flipkarts rival Amazon India has launched it...

Shocking: India’s Biggest Ecommerce Platform Unable To Find a Chief Financial Officer Since February

29Nov By No Comments

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Shocking: India’s Biggest Ecommerce Platform Unable To Find a Chief Financial Officer Since February

India’s most respected and loved E-commerce site, Flipkart founded by two college friends who studied together at IIT-Delhi and worked together in Amazon. It's revenue is estimated to be somewhere between $500 million to $1 billion, to create which it has had to pull in around $200 million in venture funding over four rounds till now. But since February this year, Flipkart been unable to find a Chief Financial Officer after its erstwhile CFO Karandeep Singh resigned unexpectedly. Singh, an experienced professional had joined Flipkart just over a year before his resignation. He was widely regarded as sort of the “grown up” hired to steer Flipkart towards a successful IPO, akin to, say, Sheryl Sandberg at Facebook. Needless to say Singh’s exit came as a huge shock to entrepreneurs, inve...