Mon, Sep 30, 2024
In a recent discussion at Techsparks in Bengaluru, swiggy CEO Rohit Kapoor addressed the prevalent hustle culture that often prioritizes relentless work over personal well-being. He highlighted the negative impacts of this mentality, including burnout, anxiety, and deteriorating mental and physical health.
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Thu, Jul 13, 2023
IPO-bound Navi Technologies has laid off around 200 employees across departments, according to multiple industry sources.
Mon, Sep 12, 2022
Through the Initial Public Offering (IPO), which will be fresh issue of shares, the company aims to raise up to Rs 3,350 crore.
Thu, May 10, 2018
India's very own whizkids, Sachin Bansal and Binny Bansal have turned billionaires after selling their stake in India's top e-retailer Flipkart to US retail giant Walmart in a transaction dubbed as world's largest e-commerce deal valued at $16 bn.
Binny Bansal, the poster boy of India's e-commerce revolution, has just sold his firm Flipkart, he is a co-founder alongside Sachin Bansal, to US retail giant Walmart in a deal valued at $16 bn. It has boosted Flipkart valuation to $21 bn (Rs 1,35,000 crore).
As per the proposed deal, Walmart is expected to acquire shares of the Singapore-registered Flipkart. In the normal case, capital gains will not arise. But India had introduced an amendment to nullify the Vodafone Judgment by taxing indirect transfers. On account of indirect transfer, this transaction could get taxed, because of the change in shareholding at the Singapore entity.
Flipkart-Walmart deal: US firm's $16 billion majority stake acquisition in Flipkart is set to make shopping much more rewarding for the Indian online consumers. With Jeff Bezos promoted Amazon India challenging Flipkart’s leadership position, the latter is left with no option but to do everything under the sun and maintain/ grow its market share in the $17.8 billion Indian e-commerce industry.
The Swadeshi Jagran Manch, which is the economic wing of the Sangh, claimed that Walmart is using e-commerce route to circumvent existing rules which bar foreign companies in multi-brand retail and dubbed its acquisition of Flipkart a "back-door entry" into Indian market.
Both Sachin Bansal and Binny Bansal owned about 5 per cent of the company they co-founded. But post-sale Sachin Bansal will cut all links to the company, while Binny Bansal will not only be retained, he will also keep a part of his shareholding.
Sat, Apr 21, 2018
Walmart Inc could seal a deal to buy a more than 51 percent stake in Indian online marketplace Flipkart as early as next week, two sources familiar with the matter said on Friday
Tue, Nov 28, 2017
Home grown marketplace, Flipkart has denied all allegations made against its founders. Here's what the company has to say.
Mon, Nov 27, 2017
Founders of homegrown e-commerce company Flipkart have been booked for allegedly not paying dues to a businessman.
Sun, Mar 05, 2017
Besides, it hired about 10,000 temporary staffers, mostly in logistics, ahead of festive sales to ensure it can meet the huge jump in demand.
Thu, Feb 09, 2017
Tax collection at source main cause for concern for e-commerce retailers. E-commerce companies are vociferously for GST. Due to TCS, close to Rs 400 crores per annum of capital will be locked into the system.
Fri, Jan 20, 2017
After Binny Bansal lost operational control of Flipkart, Zivame founder followed in the same direction this week.
Wed, Jan 11, 2017
The year 2017 will be a defining year for Flipkart as the company is looking to take "decisive lead" in the Indian market, its co-founder Sachin Bansal has said.
Tue, Jan 10, 2017
Nearly a year to the date after co-founder Flipkart, Sachin Bansal was replaced by Binny Bansal as Chief Executive Officer (CEO) there comes another twist in the tale.
Mon, Jan 09, 2017
Tiger Global is one of the top investors in e-commerce company Flipkart, will now have their executive Kalyan Krishnamurthy as the CEO.
Fri, Jan 06, 2017
E-commerce giant, Flipkart has held talks with Google and other investors for its next round of funding, a report by Factor Daily said on Friday.
Sat, Aug 27, 2016
Flipkart has also consolidated all engineering functions under Ravi Garikipati.
Fri, May 27, 2016
Signalling a tough road ahead for Flipkart, a mutual fund managed by Morgan Stanley has marked down the value of its shares in the Indian eCommerce major by 15.5%, valuing it at under $10 billion.
Fri, Apr 29, 2016
Flipkart has filed a Public Interest Litigation (PIL) against Gujarat Government in Gujarat High Court.
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