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Softbank-backed e-commerce firm <keyword id="19911893" type="General" weightage="20" keywordseo="Meesho" source="keywords" meta.keywordsubtype="org" meta.entityname="Meesho" meta.hostid="153" meta.entityid="Meesho">Meesho</keyword> will start its annual <keyword id="23217664" type="General" weightage="20" keywordseo="festival-sale" source="keywords">festival sale</keyword>, Meesho <keyword id="23217663" type="General" weightage="20" keywordseo="Mega-Blockbuster-Sale" source="keywords">Mega Blockbuster Sale</keyword>, from September 27 onwards with the highest number of sellers onboard among its competitors, the company said on Tuesday. The company has recorded about 42 per cent surge in sellers on a year-on-year basis to 20 lakh for the upcoming festival season. "Meesho's Annual 'Meesho Mega Blockbuster Sale' Starts on 27th September. With over 20 lakh sellers and 12 crore product listings across 30 categories, Meesho aims to make festive shopping more accessible, affordable, and convenient for shoppers across the country," the company said in a statement. Meesho claimed to have 14 lakh sellers onboard for Meesho Mega Blockbuster 2023. <keyword id="19910508" type="General" weightage="20" keywordseo="Amazon-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon India" meta.hostid="153" meta.entityid="Amazon India">Amazon India</keyword> has seen a 14 per cent growth in <keyword id="23217665" type="General" weightage="20" keywordseo="seller-base" source="keywords">seller base</keyword> but remains lower than that of Meesho for their upcoming annual festival sale "<keyword id="23217666" type="General" weightage="20" keywordseo="The-Great-Indian-Festival" source="keywords">The Great Indian Festival</keyword>". "Our current seller base exceeds 16 lakh sellers from all across the country," Amazon India, Director, Selling Partner Services, Amit Nanda, said. Interest of sellers for <keyword id="19896939" type="General" weightage="20" keywordseo="Flipkart" source="keywords" meta.keywordsubtype="org" meta.entityname="Flipkart" meta.hostid="153" meta.entityid="Flipkart">Flipkart</keyword> has remained muted on a year-over-year basis. While announcing annual festival sale dates "The Big Billion Days" on Monday, <keyword id="19896940" type="General" weightage="20" keywordseo="Walmart" source="keywords" meta.keywordsubtype="org" meta.entityname="Walmart" meta.hostid="153" meta.entityid="Walmart">Walmart</keyword> group firm Flipkart had said it has over 50 crore users and more than 14 lakh sellers on the platform, including sellers of its other platform Shopsy as well. Flipkart had reported the same level of sellers onboard before the TBBD in 2023. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-to-begin-on-september-27/articleshow/113445238.cms">Amazon Great Indian Festival sale to begin on September 27</a> <a href="https://www.businessinsider.in/business/auto/news/triumph-speed-t4-launched-in-india-with-a-price-tag-of-2-17-lakh/slidelist/113429766.cms">Triumph Speed T4 launched in India with a price tag of ₹2.17 lakh</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a>

Meesho to begin annual festival sale from September  27, sees 42% surge in seller base

<keyword id="8009942" type="General" weightage="20" keywordseo="walmart-owned-flipkart" source="Orion">Walmart-owned Flipkart</keyword> on Friday announced that it will be distributing <keyword id="6355975" type="General" weightage="20" keywordseo="axis-bank" source="Orion">Axis Bank</keyword>'s <keyword id="35520" type="General" weightage="20" keywordseo="personal-loans" source="Orion">personal loans</keyword> on the e-commerce platform. The platform, which has 450 million customers, will be distributing loans of up to ₹5 lakh which can be repaid in up to three years, it said in a statement. The announcement comes amid reports of <keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>'s concerns on the high growth in the more riskier unsecured lending segment like personal loans and credit cards. "As Indian consumers continue to evolve, an increasing aspiration exists to enhance their lifestyles," the Flipkart statement said. The facility in tie-up with the third largest private sector lender will empower customers with increased purchasing power, it added. Flipkart's senior vice president for fintech and payments group, Dheeraj Aneja said the e-commerce platform already offers financing avenues like Buy Now Pay Later (BNPL), Equated Monthly Installments (EMI), and Co-branded Credit Cards to support buyers. "Our focus is to enable credit and enhance purchasing power by granting access to liquidity precisely when needed. These financial solutions cater to the evolving demands of consumers, offering greater flexibility and convenience throughout their purchasing journeys," Aneja added. Axis Bank's president and head of digital business and transformation, Sameer Shetty, said the bank will be able to offer lending to a wider spectrum of customers through the partnership. Customers will be able to get loan approvals in 30 seconds under the partnership, the statement said.

Flipkart to distribute Axis Bank personal loans of up to ₹5 lakh

<ul><li><keyword id="6354742" type="General" weightage="80" keywordseo="flipkart" source="Orion">Flipkart</keyword> and <keyword id="6357886" type="General" weightage="100" keywordseo="phonepe" source="Orion">PhonePe</keyword> have announced that they are fully separated now, six years after the e-commerce giant acquired the latter. </li><li>The separation comes at a time when PhonePe is reportedly in talks to raise funds at a valuation of close to $13 billion. </li><li><keyword id="80487" type="General" weightage="20" keywordseo="Walmart" source="Orion">Walmart</keyword> will continue to be the largest shareholder of PhonePe and Flipkart, according to a joint statement by the companies. </li></ul>Flipkart and PhonePe have announced that they are fully separated now, six years after the e-commerce giant acquired the latter, the companies said in a joint statement on Friday. Post the completion of the separation, PhonePe is now a fully India-domiciled company. To recall, PhonePe moved its registered office from Singapore to India in October. “Setting up these businesses as separate entities will also provide value and create new opportunities for investors to participate in the Indian tech ecosystem – helping unlock and maximize enterprise value for shareholders of the two companies,” the companies said. The separation comes at a time when PhonePe is in talks to raise funds at a valuation of close to $13 billion, according to a <a href="https://www.bloomberg.com/news/articles/2022-12-08/walmart-s-payments-startup-phonepe-seeks-to-raise-1-billion">Bloomberg report</a>. If it succeeds, it would become the most-valued fintech startup in India. The company had raised $700 million in 2020, led by Walmart and existing investors, including Tiger Global, at a valuation of $5.5 billion. While media reports earlier suggested that PhonePe was planning an IPO, the company’s founder and CEO Sameer Nigam in June 2022 dismissed the reports, saying, “PhonePe is not planning an IPO right now. We are focusing on building our business, and will go public once our core businesses turn profitable and our new initiatives have achieved a good product-market fit and scale,” according to a PTI report. As part of the separation of the two companies, the existing shareholders of Flipkart Singapore and PhonePe Singapore, led by Walmart, have taken up equity directly in PhonePe India. Walmart will continue to be the largest shareholder of PhonePe and Flipkart, according to the statement. “We are looking forward to the next phase of our growth as we invest in new businesses – like insurance, wealth management and lending, while also enabling the next wave of growth for UPI payments in India. This will help propel our vision to provide billions of Indians with financial inclusion,” said Nigam in the statement. The separation of Flipkart and PhonePe could also have an impact on the former’s valuation – while the e-commerce giant is currently valued at $37.6 billion after a fundraise of $3.6 billion in 2021, it was <a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms">reportedly</a> seeking a $60-70 billion valuation for its planned IPO in the US in 2023. <cmsannotation type="cmsannotation" annotationid="PhonePe is the current market leader in UPI payments in the country" comment="subhead" text="PhonePe is the current market leader in UPI payments in the country">PhonePe is the current market leader in UPI payments in the country</cmsannotation> PhonePe currently has over 400 million UPI users in the country, with a 46% market share in terms of payment volumes and a 49% share in terms of payment values, as of November, according to data from the National Payments Corporation of India (NPCI). Apart from this, the company also has 35 million merchants covering 99% of the pincodes in the country. It also has 1.1 million sellers on its platform, including small and medium businesses, artisans and craftsmen. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/indias-hiring-intent-rises-in-q4-led-by-positive-sentiment-in-ecommerce-telecom-and-educational-services-industries/articleshow/96424123.cms">India’s hiring intent rises in Q4 led by positive sentiment in ecommerce, telecom and educational services industries</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-retail-to-acquire-wholesaler-metro-cash-carry-for-2850-crore/articleshow/96415905.cms">Reliance Retail to acquire B2B wholesaler Metro Cash &amp; Carry for ₹2,850 crore</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-load-up-on-realty-stocks-in-the-first-half-of-december-total-inflows-edge-up-to-9017-crore/articleshow/96393580.cms">FPIs load up on realty stocks in the first half of December, total inflows edge up to ₹9,017 crore</a>

Flipkart and PhonePe complete separation six years after acquisition

<ul><li>The <keyword id="12594925" type="General" weightage="50" keywordseo="netflix-hub" source="Orion">Netflix Hub</keyword> will roll out into more than 2,400 <keyword id="80487" type="General" weightage="80" keywordseo="walmart" source="Orion">Walmart</keyword> stores with a new streaming gift card.</li><li>Through specially crafted Concession Kits, the <keyword id="6590294" type="General" weightage="100" keywordseo="hub" source="Orion">Hub</keyword> is bringing a theatre experience home.</li><li>Seasonal product releases will keep popular trends available all year long for customers.</li></ul> Retail giant Walmart has announced a partnership with <keyword id="128682" type="General" weightage="80" keywordseo="netflix" source="Orion">Netflix</keyword> to bring the Hub, which claims to bring viewers closer to their shows and movies. The Netflix Hub will roll out into more than 2,400 Walmart stores with a new streaming gift card. "Walmart customers will find even more music, apparel, collectibles, games and seasonal items from all their favourite shows and films including 'Stranger Things', 'Squid Game', 'The Witcher' and more," the company said. Additionally, the retail company will sell discounted streaming gift cards. Customers now have the option to stream popular trends without using a credit or debit card. Through specially crafted Concession Kits, the Hub is bringing a theatre experience home. The company brings themed kits with everything customers need to enhance the couch-centric watching experience, including popcorn, candy and collectible cups. Seasonal product releases will keep popular trends available all year long for customers. Recently, the retail giant was reportedly raised up to $3 billion for its e-commerce giant <keyword id="6354742" type="General" weightage="50" keywordseo="flipkart" source="Orion">Flipkart</keyword> to further expand its operations in the country. With new funds, Flipkart's valuation was set to soar to more than $40 billion, giving a fillip to the Indian funding scene which was going through a harsh winter. <keyword id="3515858" type="General" weightage="50" keywordseo="flipkart-group" source="Orion">Flipkart Group</keyword> in July last year raised $3.6 billion to grow and advance the digital commerce ecosystem in India. The investment valued the group at $37.6 billion post the money then. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-shrugs-off-weak-global-cues-to-hit-60000/articleshow/95135992.cms">Sensex shrugs off weak global cues to hit 60,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/over-150-million-kids-in-africa-in-the-grip-of-poverty-climate-disaster-report/articleshow/95135176.cms">Over 150 million kids in Africa in the grip of poverty, climate disaster: Report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/musk-is-now-twitter-boss-fires-indian-origin-ceo-agrawal-other-top-execs/articleshow/95134427.cms">Musk is now Twitter boss, fires Indian-origin CEO Agrawal, other top execs</a>

Walmart, Netflix partner to expand Hub experience to more viewers

<ul><li><keyword id="80487" type="General" weightage="20" keywordseo="walmart" source="Orion">Walmart</keyword> International CEO said that the US-based retailer is confident that <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> will turn profitable.</li><li>She mentioned that the company has managed to live up to its expectations so far.</li><li>Flipkart is also thinking of ways they can offer software-as--a-service (SaaS), she noted.</li></ul>Walmart International CEO and President Judith McKenna on Wednesday said that the US-based retailer is confident that Flipkart will turn profitable and the company has managed to live up to its expectations so far. She also mentioned that India is Walmart’s biggest market in terms of advertising revenue and the company is looking at leveraging its advertising technology in other markets. Flipkart is also thinking of ways they can offer software-as-a-service (SaaS), she noted, as the e-commerce giant explores new avenues of revenue. “In fact, one of the markets that we are using them [Flipkart] for is Chile. They're building out our ad tech platform for Chile, which is a really interesting development for them,” she said. Walmart acquired Flipkart — the Indian counterpart to e-commerce giant Amazon — in 2018 from founders Sachin and Binny Bansal. The US-based retailer made the acquisition at a valuation of $16 billion, which has now more than doubled to <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">$37.6 billion</a>. <cmsannotation type="cmsannotation" annotationid="Flipkart looking to go public with an IPO in the US" comment="subhead" text="Flipkart looking to go public with an IPO in the US">Flipkart looking to go public with an IPO in the US</cmsannotation> Flipkart is now looking to go for an initial public offering (IPO) in the USA. According to media reports, the company expects to make its public debut next year <a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms">at a valuation of $70 billion</a>. McKenna confirmed this, but refrained from committing to a timeline for the <keyword id="3123061" type="General" weightage="20" keywordseo="flipkart-ipo" source="Orion">Flipkart IPO</keyword>, saying it will make a stock market debut “when the time is right for it”. “And when the time is right will depend on a number of factors, not least the market, but also the business performance. They've hit our deadlines. We wouldn't have invested if we didn't believe they could become profitable in the longer term, and we continue on track for that,” McKenna was quoted as saying in the Baird 2022 Global Consumer, Technology &amp; Services Conference. Flipkart had reported revenue of ₹43,357 crore for the financial year 2021, representing a 25% jump from the previous year. The company’s net loss also narrowed to ₹2,445 crore, representing a 22% decline. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/news/zomato-can-show-ebitda-profitability-in-the-next-three-years-but-only-on-one-condition/articleshow/92095600.cms">Zomato’s path to profitability in the next three years requires two things, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/news/deepinder-goyal-akshant-goyal-here-is-how-much-zomatos-dream-team-earned-since-october-2021/articleshow/92080767.cms">Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021</a>

Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans

<keyword id="35621" type="General" weightage="20" keywordseo="e-commerce" source="Orion">E-commerce</keyword> major <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> is reportedly planning to reduce its <keyword id="52626" type="General" weightage="20" keywordseo="workforce" source="Orion">workforce</keyword> by 5-7 per cent in early 2024 that may affect nearly 1,500 <keyword id="6357081" type="General" weightage="20" keywordseo="employees" source="Orion">employees</keyword>. The Walmart-owned company currently has around 22,000 employees. According to sources, Flipkart has initiated the exercise via performance reviews and the job cuts are likely to be implemented by March-April. The Economic Times was first to report about the upcoming move by Flipkart. The company is also looking at internal restructuring to optimise its resources in order to remain profitable. The company did not immediately comment on the move. Annual job cuts based on performance reviews at Flipkart have happened in the past too. E-commerce major Flipkart had total revenue of Rs 56,013 crore in the 2023 financial year, according to data from business intelligence platform Tofler. The revenue saw a 9 per cent growth in FY23 from FY22 at Rs 51,176 crore. The company reported a net loss of Rs 4,834 crore in FY23, marking a substantial 42 per cent increase from the earlier fiscal year. "Net loss for the financial year ending as on March 31, 2023, was Rs 48,393 million as against that of the previous year ending as on March 31, 2022, of Rs 33,624 million witnessed an increase of 44 per cent in the net loss," according to the financial report.

Flipkart may reduce workforce by up to 7%, affecting 1,500 employees

<ul class="summary-list"><li><a target="_blank" href="https://www.businessinsider.com/amazon">Amazon</a> ran an uncover operation to gather information on rival retailers, according to a new report.</li><li>Dubbed "Big River Services International," it sold products through Walmart, eBay, and others.</li></ul><a target="_blank" href="https://www.businessinsider.com/amazon-trader-joes-wickedly-prime-employee-best-selling-items-data-2024-4">Amazon</a> is so obsessed with dominating the e-commerce world that it reportedly spent years gathering information about rivals like Walmart and eBay by selling products directly on their websites.The tech giant started a company called Big River Services International as part of "Project Curiosity," a 2015 effort to understand how Amazon's rivals in retail, logistics, and related fields ran their businesses, <a target="_blank" href="https://www.wsj.com/business/retail/amazon-secret-operation-intel-rivals-eb82ea3c?mod=djem10point">the Wall Street Journal reported</a> on Wednesday.Big River sold items like t-shirts, shoes, and beach chairs on competitors' platforms. Its goal was to get information from rivals that Amazon could then use to inform its own business decisions, according to the Journal.Big River employees also went to great lengths to hide their connections to Amazon, even when talking to other <a target="_blank" href="https://www.businessinsider.com/amazon-staff-complain-about-projected-pay-cuts-internal-messages-2024-4">Amazon workers</a>. They minimized electronic records of their work, even when informing Amazon's top brass about what they found. Executives viewed printed copies of the Big River team's reports and weren't allowed to keep them, though they were allowed to take notes, the Journal reported.The employees also used separate, non-Amazon email addresses when talking to other companies, the report says. They were even coached on how to respond if someone found out that they were actually working for Amazon, the Journal reported."Benchmarking is a common practice in business," an Amazon spokesperson told Business Insider, using an industry term for comparing itself to rivals. "Amazon, like many other retailers, has benchmarking and customer experience teams that conduct research into the experiences of customers, including our selling partners, in order to improve their experiences working with us."After Big River joined a fulfillment program for e-commerce sellers operated by FedEx, for instance, Big River employees relayed pricing and other terms for the service to Amazon's logistics team, which then made changes based on the information, the Journal reported.The Amazon spokesperson said that a review of internal documents has "not identified any instances of an Amazon employee having FedEx pricing information prior to its launch or using such information to adjust our own pricing or pricing discussions with any sellers.""The information we have reviewed indicates that pricing information was obtained after FedEx launched FedEx Fulfillment on February 7, 2017, and this information was one of many pieces of information considered as part of pricing discussions," the spokesperson told BI.Big River also developed its own brands to sell through rivals' marketplace websites. They include an India-based brand called Crimson Knot that sells photo frames on Indian e-commerce website Flipkart, as well as a streetwear brand called Not So Ape, which used a website hosted by Shopify to sell in the US, according to the Journal.Amazon has faced scrutiny for its treatment of sellers on its own platform before. <a target="_blank" href="https://www.businessinsider.com/amazon-uses-seller-data-copy-products-alleges-house-antitrust-report-2020-10">A congressional committee found in 2020</a> that the company had used data on sales by third-party sellers to create its own version of the products — usually to the detriment of the independent sellers and their businesses.A lawsuit from the FTC last year also claimed that Amazon effectively raised prices by increasing what the company charged its third-party sellers and punishing them for <a target="_blank" href="https://www.businessinsider.com/how-amazon-forces-customers-to-pay-more-ftc-lawsuit-2023-9">offering lower prices on websites besides Amazon.</a>

Amazon had a secret operation to gather intel on rivals like Walmart and FedEx, reportedly called Big River

<ul><li><keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> wants to do the IPO before March 2023, CEO Kalyan Krishnamurthy reportedly said.</li><li>Scaling the grocery business would be a critical part of the journey towards Flipkart’s public listing. </li><li>The company is also looking to raise the pre-IPO round in the January-March quarter next year.</li></ul>Walmart-owned ecommerce giant Flipkart will go for an initial public offering (IPO) in November or December 2022, the company’s group chief executive (CEO) Kalyan Krishnamurthy has reportedly said. There is also a chance that the <keyword id="3123061" type="General" weightage="20" keywordseo="flipkart-ipo" source="Orion">Flipkart IPO</keyword> may be pushed to March 2023 due to external factors like inappropriate market conditions, Krishnamurthy reportedly told a select group of executives earlier this week in an offsite meeting. The development was <a href="https://www.businessinsider.in/business/news/byjus-swiggy-and-dream11-the-top-10-startup-deals-of-2021-that-raised-7-7-billion-overall/slidelist/88121451.cms#slideid=88121586">reported </a>by The Economic Times (ET). He reportedly added that scaling the grocery business would be a critical part of the journey towards the public listing. This may be a reason why Flipkart increased its shareholdings in <a href="https://www.businessinsider.in/business/startups/news/walmart-owned-flipkart-invests-145-million-in-agritech-startup-ninjacart/articleshow/88268882.cms">fresh produce supply chain company NinjaCart </a>earlier this week. As per the report, Flipkart is looking at a possible overseas listing. The company is also reportedly looking to raise a pre-IPO round in the January-March quarter next year in order to benchmark its valuation before it hits the public market. Business Insider has reached out to Flipkart seeking confirmation on the same. The Bengaluru-based company had raised <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">$3.6 billion in July this year</a>, at a valuation of $37.6 billion. The round was led by Singapore-based GIC, Canada Pension Plan Investment Board (CPP investments), Softbank Vision Fund 2 and <keyword id="80487" type="General" weightage="20" keywordseo="walmart" source="Orion">Walmart</keyword>. Tiger Global and Qatar Investment Authority, among other marquee investors also participated in the round. Walmart had acquired 77% shares in Flipkart in 2018, giving exits to founders Binny and Sachin Bansal, subsequently. The US-based retail giant currently holds 75% shareholding in Flipkart. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/grofers-founder-explains-why-he-rushed-to-rebrand-the-startup-and-his-plans-seem-ambitious/articleshow/88320706.cms" data-type="tilCustomLink">INTERVIEW: Grofers founder explains why he rushed to rebrand the startup and his plans seem ambitious</a> <a href="https://www.businessinsider.in/business/startups/news/indias-most-valuable-startup-may-go-public-in-us-at-48-billion-valuation/articleshow/88318989.cms" data-type="tilCustomLink">Byju’s insider says the US SPAC offer values company at $48 billion</a> <a href="https://www.businessinsider.in/business/startups/news/ola-raises-half-a-billion-dollars-in-debt-to-fuel-its-food-delivery-and-quick-commerce-dream/articleshow/88314624.cms">Ola raises half a billion dollars in debt to fuel its food delivery and quick commerce dream</a>

Flipkart IPO may reportedly happen overseas in November 2022

<ul><li>India’s financial investigation agency has been investigating Amazon and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> over the years. </li><li>The Enforcement Directorate issued a show-cause notice to both the companies and its founders last month. </li><li>Flipkart raised a $3.6 billion round at a valuation of $37.6 billion, a two-fold increase from 2018.</li></ul>India’s Enforcement Directorate (ED) has reportedly warned Walmart-owned Flipkart and its founders — <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> and <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> — with a $1.35 billion penalty for alleged violation of the country’s foreign investment laws. According to a Reuters report citing sources it did not name, the financial investigation agency has alleged that after Flipkart got foreign investment, a related party, <keyword id="1556044" type="PERSON" weightage="20" keywordseo="WS-retail">WS Retail</keyword>, started selling goods to consumers via the e-commerce platform. This is prohibited under Indian law. ED has issued show-cause notice to both the companies and its founders last month to explain why they shouldn’t face a penalty of $1.35 billion for allegedly violating India’s foreign direct investment (FDI) policy. Tiger Global, which has been an investor in Flipkart for a decade has also been issued such a notice. Tiger Global declined to comment on the issue. A Flipkart spokesperson told Reuters, the company is "in compliance with Indian laws and regulations…We will cooperate with the authorities as they look at this issue pertaining to the period 2009-2015 as per their notice." One of the sources at Flipkart told Reuters that they have around 90 days to respond to the notice and WS Retail had ceased its operations at the end of 2015. Flipkart was acquired by <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> in 2018, after which Sachin Bansal sold off all his shareholdings but Binny Bansal continues to hold some. The company’s valuation has doubled since then, from $16 billion in 2018 to $37.6 billion now. Last month, the company raised a $3.6 billion round led by Singapore-based GIC, Canada Pension Plan Investment Board (CPP investments), Softbank Vision Fund 2 and Walmart. DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in the round. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a> <a href="https://www.businessinsider.in/business/startups/news/moengage-wants-an-office-in-new-york-and-hire-to-150-techies-in-india/articleshow/85057941.cms">INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-pumps-enough-money-to-make-bharatpe-a-unicorn-about-a-month-after-it-got-a-banking-licence-with-centrum-as-its-partner/articleshow/85027918.cms">Tiger Global pumps enough money to make BharatPe a unicorn about a month after it got a banking licence with Centrum as its partner</a>

Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days

<ul class="summary-list"><li>Walmart-owned <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> is working towards an IPO as soon as the fourth quarter of this year, Bloomberg reported. </li><li>The Indian e-commerce giant is seeking a valuation that could top $35 billion.</li><li>If achieved, that would mean Walmart more than doubled its 2018 investment in Flipkart.</li></ul>Walmart-owned Indian e-commerce company Flipkart is working towards an initial public offering as soon as the fourth quarter of this year, according to a <a href="https://www.bloomberg.com/news/articles/2021-04-06/walmart-s-flipkart-is-said-to-aim-for-ipo-in-fourth-quarter?sref=LspfQlRv">report from Bloomberg</a>. Flipkart will be aiming for a valuation of at least $35 billion, according to Bloomberg, citing people familiar with the matter.If achieved, that would mean Walmart more than doubled its investment in Flipkart. In 2018, the US retail giant purchased a 77% stake in Flipkart for $16 billion. <a href="https://markets.businessinsider.com/stocks/wmt-stock">Shares of Walmart</a> rose 1.1% after the Bloomberg report Tuesday morning but have since pared back gains. Flipkart will be one of the latest e-commerce-focused IPOs of 2021 as investors bet on the continued dominance of online shopping in a post-pandemic world. South Korean e-commerce giant Coupang Inc. went public in March in the largest IPO of the first quarter, raising $4.6 billion at a $63 billion market capitalization, according to data from Renaissance Capital.The first quarter of 2021 was the busiest quarter for IPOs in the US in over 20 years, with 102 companies going public. But <a href="https://markets.businessinsider.com/news/stocks/ipo-market-newly-public-stocks-underperforming-compass-deliveroo-quarter-2021-4-1030268838">newly public companies have underperformed the market recently</a>, and a number of companies with high-profile IPOs have lowered their own expectations, like <a href="https://www.businessinsider.com/compass-ipo-s1-profit-loss-real-estate-tech-brokerage-2021-3?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Compass</a>, which slashed its IPO price range ahead of its debut last week. It's a sign that investors may be questioning whether the IPO market has overheated in the last year. In September, Reuters reported that Flipkart was preparing for an IPO, <a href="https://www.businessinsider.com/walmart-flipkart-preparing-for-overseas-listing-2020-9">aiming for a valuation in the $45-50 billion range.</a> Walmart has set up an internal IPO team for Flipkart and is aiming to go public in the US. <a href="https://markets.businessinsider.com/news/stocks/spac-walmart-flipkart-public-listing-deal-ipo2021-3-1030150523">The e-commerce company explored going public via a SPAC</a> but that is no longer under consideration, the people said.

Walmart's Flipkart is targeting a 4th-quarter IPO that could value it at $35 billion, new report says

<ul><li></li><li><ul><li>Shopsy will enable Indians to start their own businesses without any additional investors.</li><li>The user will earn commissions on every order they place on the customer’s behalf. </li><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> started experimenting with social commerce last year on its 2Gud platform.</li></ul></li></ul>E-commerce giant Flipkart has forayed into the rising social commerce segment with the launch of Shopsy on Thursday. The latest platform will enable Indians to start their own businesses without any additional investors, the Walmart-owned company said. “With the ability to influence their local network and fulfill their aspirations, users of Shopsy will be able to share catalogues of a wide selection of 15 crore products offered by Flipkart sellers,” the company said in a statement. The catalogue will include products across fashion, beauty, mobiles, electronics and home among others. Users can register on the Shopsy app using their phone numbers and start earning by sharing their handpicked catalogue with their network. The user will earn commissions on every order they place on the customer’s behalf. The commission percentage will vary depending on the category of products being ordered. This is not the first time Flipkart has experimented with its social commerce play. Last July, the company had started experimenting with video commerce as well, with its refurbished goods platform 2Gud. 2GudSocial (social.2Gud.com), which is no longer accessible, was live for mobile phones around the same time last year. It allowed content creators to make short videos to sell certain products ranging from fashion, retail, mobile, electronics and accessories. The launch of Shopsy has put Flipkart’s platform in a full circle, which not only allows sellers to sell online, but allows customers to promote their favourite product and earn through it. This is also the biggest entry into the <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> social commerce segment, which is currently led by six-year-old Meesho. Other big players in the market were founded only two-three years ago. Meesho leads the segment with over <a href="https://www.businessinsider.in/advertising/brands/article/meesho-the-latest-company-to-join-the-unicorn-club-aims-to-build-a-single-ecosystem-to-help-smbs/articleshow/81953840.cms">$515 million</a> in funding raised to date and is valued at $2.1 billion. It claims to have over 12 million individual entrepreneurs on the platform selling to over 45 million customers. It also claims to have over 100,000 registered suppliers in 26,000 pincodes. It is followed by <keyword id="7412577" type="COMPANY" weightage="20" keywordseo="DealShare">DealShare</keyword> that has raised $144 million to date and claims to serve over 25,000 orders a day. CityMall, which raised<a href="https://www.businessinsider.in/business/startups/news/citymall-a-startup-that-helps-budding-entrepreneurs-start-their-ventures-on-whatsapp-has-raised-over-22-million/articleshow/83741383.cms"> $22 million </a>last month, claims to have a network of 20,000 community leaders catering to 200,000 customers. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/swiggy-coo-vivek-sunder-will-be-exiting-the-company-by-october/articleshow/84010468.cms" data-type="tilCustomLink">Swiggy COO Vivek Sunder will be exiting the company by October, CEO Sriharsha Majety may take over</a> <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/articleshow/83978841.cms" data-type="tilCustomLink">Meet Bhavna Suresh ⁠— a serial entrepreneur who just raised $40 million in seed funding for her startup 10club</a> <a href="https://www.businessinsider.in/tech/apps/news/one-year-of-chinese-apps-ban-indian-alternatives-take-over-tiktok/articleshow/83943865.cms" data-type="tilCustomLink">One year of Chinese apps ban — Indian alternatives take over TikTok</a>

You can now make money from Flipkart by recommending your favourite products

<ul><li>As Walmart-owned <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> moves towards a possibly $10 billion initial public offering (IPO), it seems to be shedding flab with a nearly $300 million write off in Jabong.</li><li>Flipkart India CEO Kalyan Krishnamurthy described 2020 as the year when the company turned ‘financially prudent’, without adding any details.</li><li>Judith McKenna, president and chief executive of Walmart International, said that even after Flipkart being shut for 53 days in 2020 due to the COVID-19 pandemic, the e-commerce business closed the year stronger than it started.</li><li>For Flipkart, in 2021, the focus will be on grocery and fashion bringing loyal customers through its subscription programme and investing in technology and infrastructure.</li></ul>Digging inside Walmart's earnings has revealed a lot about what's happening at Flipkart. As the India-born e-commerce subsidiary moves towards a <a href="https://www.livemint.com/market/ipo/walmart-readies-for-10-bn-flipkart-ipo-11607300769974.html">possibly</a> $10 billion initial public offering (IPO), it seems to be shedding flab with a nearly $300 million write off in one of its units. As Walmart boss Doug Mcmillon wants to “step on the gas” in India, Flipkart chief executive officer (CEO) Kalyan Krishnamurthy has decided to focus on areas like grocery and fashion as well as investments in technology and infrastructure. <div type="Youtube" id="zUinE3RR_nU" title="Flipkart Gets Leaner With A $300 Million Jabong Write-Off" thumbUrl="https://i.ytimg.com/vi/zUinE3RR_nU/mqdefault.jpg"></div> Krishnamurthy described 2020 as the year when Flipkart turned ‘financially prudent’. While he didn’t add any details, inside Walmart’s earnings report, there were “business restructuring charges” including $293 million non-cash impairment for the <a href="http://jabong.com/">Jabong.com</a> trade name. Business Insider reached out to Flipkart for more inputs but the spokesperson said that they have nothing more to add. <keyword id="1484171" type="COMPANY" weightage="20" keywordseo="jabong-com">Jabong.com</keyword> was a fashion e-commerce entity that Flipkart had acquired through Myntra in 2016 and eventually absorbed it. <cmsannotation type="cmsannotation" annotationid="A step towards IPO?" comment="subhead" text="A step towards IPO?">A step towards IPO?</cmsannotation> Such restructurings are common when a company is planning to go public. It makes the IPO more attractive. Walmart is reportedly preparing Flipkart for a big market debut possibly in the US – a $10 billion initial public offering (IPO). The listing is expected to boost Flipkart’s valuation to $40 billion from the current $24.9 billion. While the company hasn’t given a timeline or details for the market offering, <a href="https://www.livemint.com/market/ipo/walmart-readies-for-10-bn-flipkart-ipo-11607300769974.html">reports</a> say that it could be in 2021 with Walmart divesting a 25% stake in the company. <div type="image" title="Flipkart valuation history - December 2020" msid="81105071" hostid="261" caption="&amp;lt;p&amp;gt;Flipkart valuation history until December 2020&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Shedding past baggage is one thing, focussing on the future is another" comment="subhead" text="Shedding past baggage is one thing, focussing on the future is another">Shedding past baggage is one thing, focussing on the future is another</cmsannotation> Walmart is clearly very bullish on Flipkart. Both Walmart CEO Mcmillion and Judith McKenna, president and chief executive officer (CEO) of Walmart International were all praises for the team in India during the earnings call. McKenna said that Flipkart has doubled its gross merchandising value (GMV) despite being shut for 53 days due to the COVID-19 pandemic. “The e-commerce business closed the year stronger than it started,” she added. GMV is the total value of merchandise sold on a platform. When asked about the focus for 2021, Krishnamurthy lined up grocery, fashion, and onboarding loyal customers through their subscription programme. In fashion, Flipkart has already made some moves, but the attractive grocery segment is going to be a challenge. Investments made by Flipkart in the apparel industry recently <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment by Flipkart </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">USPL (Universal Sportsbiz Pvt Ltd) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Fashion Retail Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,500 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arvind Fashions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹260 crore </td></tr></tbody></table> In grocery, Flipkart has betting big on itself through Flipkart SuperMart and an investment in <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-and-flipkart-invest-in-ninjacart-again-to-bump-up-its-grocery-offerings-ahead-of-the-festive-season/articleshow/78617012.cms">Ninjacart.</a> “We are going to partner with the roughly million kirana stores in our ecosystem,” he said. Kirana is the Hindi word for mom-n-pop stores in India and is the latest buzzword in the race for online grocery retail where some of the richest and mightiest business houses in the country are making big investments. JioMart, which is Reliance Retail’s e-commerce debut, owned by India’s richest man Mukesh Ambani, is targeting 30 million merchants and he is backed by Facebook and WhatsApp for this project. The $100 billion Tata Group, one of India’s oldest and largest conglomerates, has reportedly closed a deal to acquire BigBasket, one of the early birds in India’s online grocery market. Meanwhile, Flipkart is also betting big on adtech (Advertising technology). Krishnamurthy said that Flipkart’s advertising platform is currently one of the top five in India today. Flipkart is strengthening its advertising and monetisation portfolio and has announced the launch of a custom built demand-side platform (DSP). It recently partnered with <a href="https://www.businessinsider.in/advertising/ad-tech/news/flipkart-launches-commerce-focused-self-serve-demand-side-platform/articleshow/80919844.cms">MediaMath</a> to launch its demand-side platform. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-denies-dodging-indian-regulations-but-the-government-is-already-investigating-and-rivals-want-a-ban-on-jeff-bezos-company/articleshow/81088953.cms">Amazon denies dodging Indian regulations⁠ but the government is already investigating and rivals want a ban on Jeff Bezos’ company</a> <a href="https://www.businessinsider.in/entertainment/news/pewdiepies-lyrics-targeting-cocomelon-and-jk-rowling-that-may-have-gotten-youtube-angry-enough-to-pull-the-video-down/articleshow/81102941.cms">PewDiePie's lyrics targeting CoComelon and JK Rowling may have gotten YouTube angry enough to pull the video down</a>

Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021

<ul><li><keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> is planning a $10 billion <keyword id="3123061" type="PERSON" weightage="20" keywordseo="Flipkart-IPO">Flipkart IPO</keyword>, valuing the Indian e-commerce giant at $40 billion.</li><li>At this valuation, Walmart’s investment in the Indian e-commerce giant would nearly double since it acquired Flipkart in 2018 for $16 billion.</li><li>Walmart has roped in investment bank Goldman Sachs to explore the Flipkart IPO plan, according to a Mint report.</li><li>Earlier in July this year, <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Flipkart raised $1.2 billion</a> in a fresh round of funding, valuing the company at $24.9 billion. This round was led by Walmart.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>The much-anticipated Flipkart IPO (initial public offering) could soon be a reality. US retail player Walmart is reportedly gearing up to float a $10 billion Flipkart IPO in the US, divesting up to 25% of the stake in the Indian e-commerce player. According to a Mint <a href="https://www.livemint.com/market/ipo/walmart-readies-for-10-bn-flipkart-ipo-11607300769974.html">report</a>, Walmart has roped in investment bank Goldman Sachs to explore the Flipkart IPO plan. Business Insider has reached out to Flipkart for a statement and is awaiting a response. A $10 billion IPO would value Flipkart at $40 billion. This is 20% lower than the $50 billion valuation that was expected <a href="https://www.businessinsider.in/retail/news/walmart-owned-flipkart-the-indian-e-commerce-giant-is-reportedly-eyeing-a-2021-overseas-listing-and-hoping-for-a-50-billion-valuation/articleshow/78151697.cms">earlier in September</a>. However, at a valuation of $40 billion, Walmart’s investment would nearly double – it acquired Flipkart in 2018 at $16 billion for a 77% stake. At the time of its acquisition, Walmart pledged to take Flipkart public within four years. <div type="image" title="Flipkart valuation history" msid="79602375" hostid="261" caption="&amp;lt;p&amp;gt;Flipkart valuation history from 2009 to December 2020.&amp;lt;/p&amp;gt;&amp;lt;p&amp;gt;*based on reports of Flipkart IPO estimated the value of the company at $40 billion&amp;lt;/p&amp;gt;"></div> Note: December 2020 valuation is based on reports of Flipkart IPO. At the moment, Walmart’s stake in Flipkart stands at 82.3%, with Tiger Global, Tencent, Accel Partners, and Microsoft being the other key investors. Earlier in July this year, <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Flipkart raised $1.2 billion</a> in a fresh round of funding, valuing the company at $24.9 billion. This round was led by Walmart. Flipkart going public will allow minority shareholders to pare their investments or make an exit. <div type="Article" hostid="261" msid="79544185" title="PhonePe raises $700 million at a $5.5 billion valuation, will operate as a separate entity" mstype="2" mssubtype="0"></div> Riding the Indian e-commerce boon Walmart’s plans to take Flipkart public could have been bolstered by the surge in e-commerce sales since the COVID-19 pandemic broke out. The massive surge in e-commerce sales is corroborated by Flipkart’s own statistics - the e-commerce giant <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-big-billion-sale-report-over-100-orders-per-second-10-million-products-delivered-already/articleshow/78790627.cms">witnessed a ten-fold increase</a> in its shipments during its festival sale this year. On an acquisition spree In addition to witnessing a massive surge in orders this year, Flipkart is also on an acquisition spree. From augmented reality startups to fashion companies, the e-commerce giant has been busy this year. After acquiring Walmart’s India operations this year, Flipkart also dabbled in the social gaming and augmented reality spaces with the acquisitions of <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Mech Mocha</a> and <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-buys-ar-firm-scapic-to-boost-its-user-experience/articleshow/79256274.cms">Scapic</a>. It has also made a <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-invests-in-uspl-fashion-house-that-has-brands-like-virat-kohli-wrogn-and-kriti-sanon-ms-taken/articleshow/79058747.cms">few investments in the fashion space</a>, including USPL which houses Virat Kohli’s Wrogn. It has also invested in Aditya Birla Fashion Retail and Arvind Fashions. Flipkart is also expanding its partnerships with kiranas (the Hindi word for mom and pop stores), which delivered over 3.5 million orders during the Big Billion Days sale this year. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-big-billion-sale-report-over-100-orders-per-second-10-million-products-delivered-already/articleshow/78790627.cms">Flipkart Big Billion sale report - over 100 orders per second, 10 million products delivered already</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-powers-flipkart-with-more-capital-to-battle-google-facebook-and-amazon/articleshow/76960607.cms">Walmart powers Flipkart with an additional $1.2 billion⁠ to help e-tailer battle Google, Facebook, and Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/phonepe-700-million-5-5-billion-valuation-flipkart-separate-entity/articleshow/79544185.cms">PhonePe raises $700 million at a $5.5 billion valuation, will operate as a separate entity</a>

You Searched For "Walmart and Flipkart" and got 13 results

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Flipkart to distribute Axis Bank personal loans of up to ₹5 lakh

PTI

Flipkart and PhonePe complete separation six years after acquisition

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Walmart, Netflix partner to expand Hub experience to more viewers

IANS

Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans

Kritti Bhalla

Flipkart may reduce workforce by up to 7%, affecting 1,500 employees

IANS

Amazon had a secret operation to gather intel on rivals like Walmart and FedEx, reportedly called Big River

Alex Bitter

Flipkart IPO may reportedly happen overseas in November 2022

Kritti Bhalla

Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days

Kritti Bhalla

Walmart's Flipkart is targeting a 4th-quarter IPO that could value it at $35 billion, new report says

Emily Graffeo

You can now make money from Flipkart by recommending your favourite products

Kritti Bhalla

Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021

Sanchita Dash

Flipkart’s reported $10 billion IPO plan will mean Walmart’s investment in the Indian e-commerce giant will double within 3 years

Rounak Jain

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