Tag "Flipkart"

Flipkart reportedly to acquire eBay India

By : CIOL Writers

India’s startup poster boy Flipkart is planning to acquire eBay India’s operations as part of its latest funding round of $2billion, according to a Factordaily report. Earlier this week, Bloomberg reported that Flipkart had raised $1 billion and further aimed to

Snapdeal reportedly in talks with Flipkart, Paytm for potential sale

By : CIOL Writers

Online marketplace Snapdeal is reportedly in talks with rivals Flipkart and Paytm E-Commerce Pvt Ltd for a potential sale, according to a Livemint report. Japan’s Softbank Group, an investor in Snapdeal, is leading the sale talks, and the deal could

Flipkart reportedly raises $1bn from Microsoft, eBay and Tencent Holdings

By : CIOL Writers

After a short lull, Indian e-commerce giant, Flipkart once again looks all geared up with a beefed up war chest to take on its rivals. Amidst ever increasing competition and several fundraising speculations, the startup has reportedly raised $1 billion

Flipkart likely to raise $1.5bn from Tencent and eBay

By : CIOL Writers

Finally, Flipkart seems to be ending its fund-drought phase, which has been going on since last year. Flipkart is reportedly in talks to raise $1.5 billion from Chinese Internet giant Tencent and eBay. According to the Economic Times report, US-based

Myntra exploring offline channel in search of profitability

By : CIOL Writers

Online fashion and lifestyle e-tailer, Myntra has launched its first offline retail store in Bangalore to promote the sales its top selling private label, Roadster. According to Myntra, Roadster which was launched in 2012, currently contributes 8 per cent of

Flipkart working with Facebook to make its mobile app, website lighter

By : CIOL Writers

After partnering Microsoft to adopt Azure as its exclusive cloud services, Flipkart reportedly is now partnering with Facebook to provide better mobile app and website experience on budget phones and low connectivity scenarios. In a bid to make its app

Flipkart reduces commission charges to boost sales

By : CIOL Writers

Amid its struggle to lead over arch-rival Amazon India, Flipkart has revised policies for merchants who sell on its platform. Starting from March 15, Flipkart will cut commission fees for the 100,000-plus sellers and also other charges affecting the end-users.

Paytm’s online marketplace grabs $200mn from Alibaba and SAIF Partners

By : CIOL Writers

Chinese e-commerce giant Alibaba is leading a $200 million investment in Paytm E-commerce Private Limited along with another existing backer SAIF Partners. While Alibaba Singapore E-Commerce Pvt. Ltd will invest $177 million in Paytm’s online marketplace unit, rest will come from SAIF Partners, an early investor

Morgan Stanley marks down Flipkart valuation to $5.37bn

By : CIOL Writers

In a fifth-consecutive markdown for India’s largest e-commerce startup Flipkart, a mutual fund managed by Morgan Stanley has marked the value of their Flipkart shares at $50.51 per share as of December 2016. This is down 3.1 percent from $52.13 per

Flipkart embracing Microsoft Azure platform to enrich online shopping experiences

Taking one step ahead, Flipkart today announced that it will adopt Microsoft Azure as its exclusive public cloud platform to provide the best online shopping service to the users. Microsoft CEO Satya Nadella and Flipkart Group CEO Binny Bansal announced

Bumper smartphone sales help Flipkart edge past Amazon in Dec, Jan

By : CIOL Writers

Beating the expectations of many analysts, Flipkart made a turnaround defeating its arch-rival Amazon, during the Big Billion Day (BBD) sale in October. Continuing the same trend, Flipkart Internet Pvt. Ltd raked in gross sales of more than Rs 2,600

Flipkart pulls the plug on Ekart’s hyperlocal delivery to streamline business

By : CIOL Writers

Without being perturbed by the series of top-level exits, Flipkart’s new CEO Kalyan Krishnamurthy is leading several changes in the operations of the e-commerce player. With an aim to consolidate the business of its logistics and supply chain arm, Ekart

PayPal reportedly in talks with Flipkart-owned PhonePe for funding

By : CIOL Writers

Flipkart’s PhonePe is in talks with global online payments giant PayPal to raise capital independently at a $500 million valuation, according to a Times of India report. Citing people in the know of the things, the report said that PhonePe

Paytm’s payments bank gets $32.5mn in fresh funding

By : CIOL Writers

Digital payments platform, Paytm that is all set to launch its payments bank service in Uttar Pradesh, this month has got another Rs 218 crore (or $32.5 million) cash infusion from Paytm CEO Vijay Shekhar Sharma, investing a sum of

Amazon to foray into India’s online grocery segment

By : CIOL Writers

To further push India’s thriving online grocery selling domain, the global e-commerce giant, Amazon has applied for a wholly-owned food venture to the government of India that will allow the platform to stock locally produced food items and sell them

Alibaba to lead $200mn investment in Paytm’s e-commerce business

By : CIOL Writers

Paytm E-Commerce Pvt. Ltd is close to raising 200 million in an investment round led by Chinese internet giant Alibaba Group Holding Ltd, according to an Economic Times report. Citing two people in the know of the deal that will

Flipkart denies senior executives’ exit

By : CIOL Writers

Looks like, 2017 hasn’t changed things much for Flipkart as the India’s largest e-commerce retailer continues to witness executive exits at the top level. Earlier this month, Saikiran Krishnamurthy, Surojit Chatterjee and Samardeep Subandh put in their papers to leave

Mutual fund investor T Rowe Price cuts Flipkart valuation by 4pc to $9.9 bn

By : CIOL Writers

Two months after an aggressive 38 percent markdown in Flipkart’s valuation by Morgan Stanley, Mutual fund investor T Rowe Price has trimmed the valuation of India’s largest e-commerce company Flipkart marginally by another 4 percent to about $9.9 billion, reports

As Kalyan Krishnamurthy takes charge, 3 top Flipkart execs call it quits

By : CIOL Writers

Barely a day after Tiger Global’s Kalyan Krishnamurthy was appointed as the new CEO of India’s largest online marketplace, Flipkart, its three top-level executives reportedly have called it quits. Citing a company executive in the know of the things, Economic

Former Tiger Global exec Kalyan Krishnamurthy is the new CEO of Flipkart

In a rapid string of events Former Tiger Global executive Kalyan Krishnamurthy is the new Flipkart CEO. While, Binny Bansal, who took over chief executive exactly one year ago, now moves to the role of Group CEO. This being a