Mon, Jun 04, 2018
Walmart India Chief Corporate Affairs Officer Rajneesh Kumar reportedly said the company is committed to India for the long term, adding "We have been running Cash and Carry business in India for almost a decade now and helping small kiranas succeed and become modern. We are sourcing locally with more than 95 per cent merchandise coming from within the country including from thousands of small farmers, small suppliers and women-owned businesses."
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Fri, May 11, 2018
Recently, Flipkart co-founder Binny Bansal had announced 100 percent buyback of vested employee stock options (ESOPs) with reports suggesting that it could be around $150 (Rs 10,000) a share, according to a Times of India report. The biggest buyout deal of Walmart has boosted ESOPs (employee stock ownership plans) of Flipkart to a total of $2 billion. The largest e-commerce deal has also propelled Flipkart's valuation and ensured a good deal for former and current employees with stocks to get benefitted out of this mega acquisition.
The Confederation of All India Traders (CAIT) on Thursday said that it might approach the Competition Commission of India (CCI) to seek "a ban" on the Walmart-Flipkart deal after studying the metrics of the agreement.
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.
Walmart’s “operational challenges” on the e-commerce front came to the fore when its fulfillment centres couldn’t handle the huge inflows of electronics, toys and some seasonal items during the holiday season leading to unfulfilled sales. Walmart has been investing heavily in e-commerce, buying portals like Jet.com and online clothing retailers Bonobos and Modcloth much like Flipkart acquired Jabong and Myntra.
Wed, May 09, 2018
Walmart Inc is acquiring Indian e-commerce player Flipkart, the chief executive of one of Flipkart`s biggest shareholders, SoftBank Group, said on Wednesday. According to Reuters, the US retail giant would be investing $16 billion in Flipkart for a controlling stake of more than 51 percent at a valuation of about $21 billion.
Fri, Feb 16, 2018
A deal with Walmart would give Flipkart much needed muscle in its fight against Amazon, which has committed to investing $5 billion in India as it expands aggressively, including into online grocery deliveries.
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