Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Walmart-owned Flipkart will undertake a buyback employee <keyword id="6368159" type="UNKNOWN" weightage="20" keywordseo="stock">stock</keyword> options worth about Rs 600 crore, according to sources. Earlier in the day, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the e-commerce major at $37.6 billion (about Rs 2.79 lakh crore). In an e-mail to employees, Flipkart group chief executive officer <keyword id="6379357" type="PERSON" weightage="20" keywordseo="kalyan-krishnamurthy">Kalyan Krishnamurthy</keyword> lauded the critical role played by the staff in reaching this milestone. "It has always been our endeavour to provide our employees with an opportunity to liquidate their vested options regularly. This year, we are pleased to announce a buyback of 5 per cent of the past three years' vested options. With this landmark event for us, I am happy to share that we are offering our employees an additional buyback of 5 per cent of all vested options as we stay committed to wealth creation for you," he said. While the e-mail did not provide additional details, sources said the employee stock options buyback would entail a spending of about Rs 600 crore, and employees will be able to liquidate up to 10 per cent of their vested shares depending on the individual's holding pattern. They added that about 6,000 people are expected to benefit from the buyback. The company confirmed the development but did not disclose any details. Employees are granted options based on their tenure, performance, and contributions to the company. In his e-mail, Krishnamurthy said the fund infusion received by Flipkart is "one of the most significant investments in the digital commerce ecosystem in India, reflecting the opportunity for digital commerce in India and the confidence of investors in our ability to address this potential". "As we continue to focus on meeting the needs of our customers, we will make several investments across people, technology, supply chain, and infrastructure, and continue to strengthen and build on key categories and business opportunities," he added. Krishnamurthy emphasised that the company must sustain its commitment to its existing customers and introduce the value proposition of digital commerce to the next 200 million Indians, ensuring that it innovates to create value and experiences for them. "Through our partnerships with ecosystem players, not only do we need to accelerate growth for them, but we must also direct our efforts to enable inclusive growth for lakhs small and medium businesses who have an opportunity to benefit from the potential of digital commerce in India," he added. Flipkart Group has raised $3.6 billion in funding led by Singapore's sovereign wealth fund GIC, Canada Pension Plan Investment Board (CPP Investments), <keyword id="9240440" type="UNKNOWN" weightage="20" keywordseo="softbank-vision-fund-2">SoftBank Vision Fund 2</keyword> and Walmart, valuing the e-commerce giant at $37.6 billion. The current funding round has also seen participation from sovereign funds DisruptAD, <keyword id="6437412" type="UNKNOWN" weightage="20" keywordseo="Qatar-Investment-Authority">Qatar Investment Authority</keyword>, Khazanah Nasional Berhad as well as marquee investors Tencent, <keyword id="11620199" type="UNKNOWN" weightage="20" keywordseo="willoughby-capital">Willoughby Capital</keyword>, Antara Capital, Franklin Templeton, and Tiger Global. With this deal, <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> is re-entering Flipkart's cap table. SoftBank had sold its approximately 20 per cent share when Walmart bought a 77 per cent stake in Flipkart for $16 billion in 2018. Founded in 2007, the Flipkart Group includes Flipkart, fashion specialty site Myntra, and Ekart (logistics and supply chain arm). The Group is also a majority shareholder in the digital payments platform PhonePe. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/google-calendars-new-rsvp-option-will-let-you-specify-how-you-want-to-attend-a-meeting/articleshow/84237490.cms">Google Calendar’s new RSVP option will let you specify how you want to attend a meeting</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-hires-over-20000-in-june-quarter-its-highest-ever-quarterly-addition/articleshow/84240423.cms">TCS has loaded up half a million peeps as it expects many to move on</a>

E-commerce platform Flipkart to buyback employee stock options worth ₹600 crore, say sources

<ul class="summary-list"><li><keyword id="13308894" type="UNKNOWN" weightage="60" keywordseo="aswath-damodaran" source="Orion">Aswath Damodaran</keyword> praised <keyword id="11894021" type="UNKNOWN" weightage="60" keywordseo="apple" source="Orion">Apple</keyword>'s prudence with its cash and <keyword id="11893181" type="UNKNOWN" weightage="60" keywordseo="amazon" source="Orion">Amazon</keyword>'s constant evolution.</li><li>The finance professor dismissed <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword>'s name change, and said the company's growth stage is over.</li></ul>Aswath Damodaran praised <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a>'s constant evolution, warned <a href="https://markets.businessinsider.com/stocks/fb-stock">Facebook</a>'s growth phase is behind it, and lauded <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>'s proposed takeover of <a href="https://markets.businessinsider.com/stocks/atvi-stock">Activision Blizzard</a> during the <keyword id="13308895" type="UNKNOWN" weightage="60" keywordseo="pivot" source="Orion">Pivot</keyword> MIA conference in February.The finance professor at NYU Stern School of Business — whose nickname is the "Dean of Valuation" — also cheered <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>'s prudent spending, predicted <a href="https://markets.businessinsider.com/stocks/ge-stock">GE</a>'s demise, and questioned <a href="https://markets.businessinsider.com/stocks/dis-stock">Disney</a>'s huge investments in its Disney Plus streaming platform. His comments were broadcast on a <a href="https://podcasts.apple.com/gb/podcast/bonus-episode-live-from-pivot-mia-the-life-cycle/id1073226719?i=1000552806216">recent episode</a> of the Pivot podcast.<h2>Here are Damodaran's 12 best quotes from the conference:</h2>1. "The CFO of a young start-up might as well be the janitor. You're the guy that everybody ignores and walks by — because really, what are you going to do? You're not going to make this company great again." (Damodaran noted that CFOs add value later in a company's life cycle, when its investments become less lucrative and it wants to lower its cost of capital.)2. "Amazon is a company I've valued every year since 1997. Talk about a book that never ends, right? Each time you think you're getting to the final chapter, they figure out a way to continue. It's like a sequel on top of a sequel, on top of a sequel. It's like 'Pirates of the Caribbean: Part 55' and Johnny Depp is still alive, and he's still drunk, and he's still doing all the things he did."3. "Amazon has one advantage over every other company in the world: Patience is built into its DNA. I've told people who are competing with it, 'I don't know whether Amazon will ever make money, but the one thing I can guarantee is you will never make money.' It's almost a given that they will bring down the business margins by the time they're done."4. "The only thing that brings down Godzilla is King Kong, and Facebook met a King Kong big enough to bring them down. At this point, it's clear they're not a growth company. Anybody who invests in Facebook thinking 20% growth is coming back is barking up the wrong tree." (Damodaran noted Apple's rollout of new privacy settings on its devices caused Facebook-owner <keyword id="12416504" type="UNKNOWN" weightage="60" keywordseo="meta" source="Orion">Meta</keyword>'s <a href="https://www.businessinsider.com/meta-q4-earnings-largest-ever-one-day-wipeout-190-billion-2022-2?r=US&amp;IR=T">recent slowdown in user growth</a>.)5. "There's no good reason for a company to change its name, right? Unless you're going into witness protection. When Phillip Morris renamed itself Altria and said, 'We're known to be toxic,' guess what? You still sell cigarettes. It's not going to go away." (Damodaran was commenting on Facebook changing its name to Meta.)6. "It's like Alphabet. Google wanted to make it look like they're a multi-business company. The reality is the search box is what drives the business. It's like 'Snow White and the Seven Dwarfs,' right? You've got the search box that delivers all this stuff. And you've got the seven dwarves who eat up your cash flows and earnings. I still call them Google until I actually see the rest paying off."7. "When Walmart bought Flipcart about five years ago for $21 billion, I called it the most expensive facelift in history. Because let's face it, Walmart is an old company. They want to be young again. Why? Because they're competing against a company that seems to have found the fountain of everlasting youth. (Damodaran was referring to Amazon as Walmart's ageless rival.)8. "Think about how much cash they've had for the last decade, and all the suggestions that people give: 'Buy Tesla, buy Netflix.' The reality is Apple has so much cash, they can buy Greece, they can pretty much buy whoever they want. What has always impressed me about Apple is the discipline they've shown not to do any of those things. They're not in a hurry, they're not going out and buying things. Hopefully, time will be enough of an ally that they can find ways of replacing the iPhone franchise, the greatest cash cow in history."9. "I'm usually not a fan of acquisitions, but I did like the <keyword id="11895708" type="UNKNOWN" weightage="60" keywordseo="microsoft" source="Orion">Microsoft</keyword> acquisition of Activision. What they're getting with Activision is not the games. For a $2 trillion company, what's the benefit of going after that market? It's small pickings. They have much bigger ambitions here. They're buying a platform. As they see it, their future competitors are not Nintendo and Sony; they're going to be Roblox and Facebook and the other players who can potentially come after them with gaming solutions."10. "When I think of Netflix, I think of a hamster wheel. You make more content, you sign up more users. Then you go to the <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> and say, 'Look how many more subscribers we have.' Then you go back, and create even more content."11. "I am a little nervous about what Disney is doing with Disney Plus. It's playing the Netflix game. Next year, it expects to spend, what, $33 billion on content? It's skewing everything that Disney does as a company."12. "This is a 'Walking Dead' company. It's a zombie company. The only stories you can tell are about how quickly the end will come, and how painful it's going to be. But it had a great run, 125 years. Don't shed any tears for GE."

Finance professor Aswath Damodaran praised Amazon's relentless evolution, warned Meta's growth phase is over, and touted Microsoft's gaming deal at a recent event. Here are the 12 best quotes.

You Searched For "Flipcart" and got 2 results

E-commerce platform Flipkart to buyback employee stock options worth ₹600 crore, say sources

PTI

Finance professor Aswath Damodaran praised Amazon's relentless evolution, warned Meta's growth phase is over, and touted Microsoft's gaming deal at a recent event. Here are the 12 best quotes.

Theron Mohamed

Popular Keywords

Buying Guides