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Walmart Launch Fintech Startup in partnership with Ribbit Capital

18Jan By AnkitaNo Comments

News

Walmart Launch Fintech Startup in partnership with Ribbit Capital

BENTONVILLE, Ark., 18th Jan 2021-- Walmart announced the creation of a new fintech startup in a strategic partnership with leading fintech investment firm Ribbit Capital. The venture will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial experiences tailored to Walmart’s customers and associates. “For years, millions of customers have put their trust in Walmart to not only save them money when they shop with us but help them manage their financial needs. And they’ve made it clear they want more from us in the financial services arena,” said John Furner, President and CEO, Walmart US. “We’re thrilled to work with Ribbit Capital in a new venture to help us deliver innovative and needed options to our customers and asso...

Walmart to Invest $25 bn in Tata Group’s ‘Super App’

29Sep By reutersNo Comments

BUSINESS

Walmart to Invest $25 bn in Tata Group’s ‘Super App’

Walmart Inc is in talks with Tata Group for a potential investment of up to $25 billion in the Indian salt-to-software conglomerate's new "super app", the Mint newspaper reported on Tuesday, citing people familiar with the matter. According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. The news comes as Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co, and Silver Lake Partners by selling stakes in its digital business Jio Platforms. The Walmart investment could ...

Walmart drone delivery testing in North Carolina city

9Sep By AdityaNo Comments

News

Walmart drone delivery testing in North Carolina city

New York, Sept. 9, 2020: US-based retail stores Walmart said in its press release that they are testing on-demand drone delivery with Flytrex. The pilot program launched in Fayetteville, North Carolina, and focuses on delivering select grocery and household essential items from Walmart stores using Flytrex’s automated drones. Tom Ward, Senior Vice President, Customer Product, Walmart said, "From being an early pioneer of universal bar codes and electronic scanning cash registers to our work on autonomous vehicle delivery, we’re working to understand how these technologies can impact the future of our business and help us better serve our customers." Last week, Amazon won regulatory approval to deliver packages by drone, but the company said it was still testing the self-piloting a...

Walmart+ – A Membership Program by Walmart Cost $98 a year

1Sep By AdityaNo Comments

News

Walmart+ – A Membership Program by Walmart Cost $98 a year

BENTONVILLE, Ark., Sept. 1, 2020 — Retail store giant Walmart is launching a new membership program Walmart+ that brings together in-store and online benefits. Walmart+ uses the company’s unique assets to make life easier for busy families. Along with the power of its online presence, Walmart+ has the reach of more than 4,700 stores, including 2,700 stores that offer delivery as fast as same day. Members will receive unlimited free delivery from stores, fuel discounts and access to tools that make shopping faster for families. Membership will be available to all customers on Sept. 15. It will cost $98 a year or $12.95 a month and includes a 15-day free trial period. In the future, the company will leverage its wide-ranging strengths to add additional benefits for members in a va...

Walmart joins Microsoft bid to acquire video app TikTok

28Aug By PriyankaNo Comments

News

Walmart joins Microsoft bid to acquire video app TikTok

Washington, Aug 28, 2020: USA based world's largest retail store Walmart set to bid with Microsoft to acquire Chinese owned video app Tiktok. Walmart made a joint acquisition bid with Microsoft to acquire TikTok US business after the US President set the deadline to stop Tiktok operation in the USA. Microsoft provides cloud computing services that help run the retailer's stores and online shopping. The two companies signed a 5-year partnership in 2018, enabling them to join forces against a shared rival, online shopping giant Amazon. Walmart said in a statement that a deal with Microsoft and TikTok could help it expand its advertising business and reach more shoppers. TikTok has gained 100 million US users. But the White House is pushing TikTok's Chinese owner ByteDance to sell...

23Jul By Press Trust of IndiaNo Comments

INDIA

Flipkart acquires Walmart India, to launch Flipkart Wholesale for B2B segment in August

Bengaluru, 23rd July 2020: Flipkart announced the acquisition of Walmart India for an undisclosed amount, and said it will launch ‘Flipkart Wholesale’ next month, as the homegrown e-commerce major looks to tap into the USD 650 billion B2B retail markets in India. Walmart India runs 28 Best Price wholesale stores in the country. The announcement comes a week after Flipkart had said it had raised USD 1.2 billion in funding from a Walmart-led investor group. In 2018, Walmart Inc had invested USD 16 billion for acquiring 77 percent stake in the group. Flipkart Wholesale is a new digital marketplace focusing on addressing the business-to-business (B2B) segment in India. “This marketplace is going to effectively link sellers and manufacturers on one end and kiranas and micro, small a...

6Apr By NitishNo Comments

INDIA

Walmart India Encourages Customers to Order Online

Walmart India, which operates in the cash-and-carry format encouraging its users to buy online to avoid the rush on the streets amid the rise of coronavirus cases in the country. The company is witnessing an increase in the number of orders placed through its website and app and have added more capacity to serve them, said Walmart India in a statement. However, Walmart, like other retailers, is also facing challenges in getting sufficient supplies of the goods due to production shortages from the manufacturers and continued bottleneck in logistics and transportation due to lockdown. It is working closely with its suppliers and with the local authorities to minimise and address these challenges, it added. Besides, the company is also facing challenges in terms of shortage of man...

Walmart India elevates Sameer Aggarwal as CEO

25Mar By AnkitaNo Comments

News

Walmart India elevates Sameer Aggarwal as CEO

Walmart India has elevated Sameer Aggarwal as its CEO and the appointment will be effective from April 1. Aggarwal succeeds Krish Iyer who is set to retire on March 31. Iyer would get into the advisory role from full-time management of Walmart India after leading the retail major for eight years. Aggarwal, who was elevated as Deputy CEO earlier in January this year, has now been promoted to Chief ExecutiveOfficer of Best Price, Walmart India, effective from April 1, Walmart said in a statement. Aggarwal will directly report to Walmart Executive Vice President and Regional CEO of Asia and Global Sourcing Dirk Van den Berghe. "Sam (Aggarwal) has done a fantastic job in the past two years. He led the charge to make our proposition more customer centric, developing digital offering...

Walmart to Hire 150,000 Workers as Virus spreads in US

20Mar By Press Trust of IndiaNo Comments

News

Walmart to Hire 150,000 Workers as Virus spreads in US

Walmart plans to hire 150,000 people to meet increased demand during the coronavirus crisis and will pay out $365 million in bonuses, the US retail giant said. "These roles will be temporary at first, but many will convert to permanent roles over time," it said. The firm added it would pay $300 bonuses to full-time employees and $150 to those part-time. Walmart said Thursday it wanted to reward them "for their hard work and dedication to serving customers in a time of an unprecedented national health crisis." It also plans to speed up payment of the next quarterly bonus payments, which will take its payout to nearly $550 million. The hiring drive comes as travel restrictions and lockdown measures in various US states and cities to curb the spread of the virus have led people to...

Walmart to stop selling Electronic Cigarettes at its Stores

21Sep By AnkitaNo Comments

News

Walmart to stop selling Electronic Cigarettes at its Stores

Walmart will stop selling electronic cigarettes at its stores and Clubs following a string of mysterious illnesses and deaths related to vaping. The nation's largest retailer, based in Bentonville, Arkansas, said that it will complete its exit from e-cigarettes after selling through its current inventory. The move is due to "growing federal, state and local regulatory complexity" regarding vaping products, the company said in a statement. President Donald Trump has proposed a federal ban on flavoured e-cigarettes and vaping products. Michigan banned the sale of flavored e-cigarettes this week. A few local governments, including San Francisco, have passed bans on flavored tobacco. E-cigarettes represent a very small part of Walmart's nicotine business, which also inc...

Walmart keep selling guns despite shooting incident at its stores

5Aug By AdityaNo Comments

USA

Walmart keep selling guns despite shooting incident at its stores

Despite two deadly shootings at its stores in less than a week, American retail giant Walmart has no plans to stop selling guns and ammunition, a spokesman said Sunday. A man opened fire with an assault rifle at a Walmart in Texas on Saturday, killing 20 people, just four days after a disgruntled employee shot dead two coworkers and wounded a responding police officer at one of the massive chain's stores in Mississippi. "We are focused on supporting our associates, our customers, and the entire El Paso community," spokesman Randy Hargrove said. Following the El Paso shooting, Walmart CEO Doug McMillon posted a note on Instagram saying he "can't believe" it was the second such in a week. "My heart aches for the community in El Paso, especially the associates and customers at sto...

Walmart earnings jump 80 percent to USD 3.8 bn, US sales strong

16May By PriyankaNo Comments

News

Walmart earnings jump 80 percent to USD 3.8 bn, US sales strong

The US retail giant Walmart reported a jump in first-quarter earnings Thursday on higher US store sales and eCommerce growth following heavy investment in new "omnichannel" retail ventures. The world's biggest retailer reported profits of USD 3.8 billion. That's an increase of 80 percent from the year-ago period when results were dented by a one-time earnings hit following US tax reform. Shares rose in pre-market trading. манимен займ личный кабинетбезотказный займзайм на банковский счет без отказа займ до зарплаты северсквзять займ студентузайм киви без паспорта