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Flipkart co-founder Binny Bansal sells part shares to Walmart for Rs 531 crore
Mon, Jun 24, 2019
Binny Bansal, co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76 million (Rs 531 crore) to world's retail giant Walmart`s Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc said on Monday.
Walmart to pay over $282 mn for violating anti-corruption regulations in 4 countries
Fri, Jun 21, 2019
International retail giant Walmart Thursday agreed to pay over USD 282 to various US bodies to settle charges of violating anti-corruption regulations while conducting its business in India, China, Brazil and Mexico.
Walmart faces major India test over unit Flipkart's legal spat with GOQii
Tue, Jun 04, 2019
An Indian startup's legal challenge against a Walmart unit claiming losses caused by sharp discounting of its products is winning support from other online sellers, in what is shaping as a key test of how the giant retailer operates in the country.
Former Google, Amazon employee and IIT Madras alumnus Suresh Kumar appointed Walmart's new CTO
Wed, May 29, 2019
Walmart has appointed Suresh Kumar, an IIT Madras graduate and former Google executive, as its new chief technology officer and chief development officer.
Global Markets: Wall Street shot up 1% on strong economic data
Thu, May 16, 2019
US stock indexes rose 1% on Thursday and were on pace to extend a two-day winning streak, lifted by better earnings from Cisco and Walmart, and robust economic data.
Walmart senior executive Judith McKenna lauds Flipkart team
Sat, May 04, 2019
Flipkart Chief Executive Kalyan Krishnamurthy said the e-tailer`s partnership with Walmart was helping the group to serve customers better and accelerate its growth with products and solutions.
Sachin Bansal to be CEO again? Flipkart co-founder in talks to acquire Bengaluru-based firm: Report
Fri, Apr 12, 2019
Sachin Bansal has been a busy man since quitting Flipkart after Walmart picked up 77 per cent stake in the Indian e-commerce company for $16 billion.
Amazon's Jeff Bezos challenges rivals to raise minimum wages; gets schooled from Walmart on taxes
Fri, Apr 12, 2019
Amazon has raised its minimum wage to $15 per hour for US employees from November, giving in to critics of poor pay and working conditions at the company.
Flipkart vs Amazon: Fastest growing skills at two most sought-after companies in India for jobseekers
Fri, Apr 05, 2019
In a recent Linkedin survey, Walmart-owned Flipkart is ranked as the most sought after company to work for in India.
E-commerce, consumer internet cos raised over $ 7 bn in PE/VC capital in 2018: EY
Fri, Mar 08, 2019
"The Indian e-commerce and consumer internet sector has seen significant inflow of capital in 2018, making India one of the most exciting destinations to invest in across the globe," said Ankur Pahwa, Partner and National Leader E-Commerce and Consumer Internet, EY India.
E-comm FDI policy changes haven't shaken confidence in India: Walmart
Wed, Feb 20, 2019
We hope to have an effective, productive dialogue as it relates to future changes that happen
Why Walmart farms out same-day grocery deliveries to low-cost freelance drivers
Thu, Feb 14, 2019
Garrick Clark, a 44-year-old driver making deliveries for Walmart in Alpharetta, said he would prefer dropping packages for Amazon over delivering groceries for Walmart because Amazon pays $18 to $24 an hour for similar deliveries.
RIL vs Amazon vs Flipkart: Why Mukesh Ambani-led firm will be a clear winner in this e-commerce battleground
Wed, Feb 13, 2019
The new policy has come into effect from February 01, 2019. Few notable norms are - 100% FDI under automatic route is permitted in marketplace of e-commerce.
Why Walmart and Flipkart are betting big on India
Thu, Feb 07, 2019
The revised FDI norms in e-commerce, however, have tightened the noose around the businesses of the country's leading e-tailers - Walmart-owned Flipkart and Indian arm of American e-commerce giant Amazon.
Amazon changes business structures in India to bring big seller back
Thu, Feb 07, 2019
Amazon was forced to remove hundreds of thousands of items sold by top vendors Cloudtail and Appario as it indirectly held 49 percent equity stakes in both firms
Walmart shrugs off 'Flipkart-exit' buzz; says, 'commitment to India is deep and long term'
Wed, Feb 06, 2019
Walmart last year in May, gave the world its largest-ever e-commerce deal by buying Flipkart for about $16 billion for an initial stake purchase of 77%.
Walmart says it is committed to Indian market despite change in e-commerce FDI policy
Wed, Feb 06, 2019
Morgan Stanley, in a report titled 'Assessing Flipkart Risk to Walmart EPS' dated February 4, claimed that "an exit is likely, not completely out of the question, with the Indian e-commerce market becoming more complicated."
Walmart to exit Flipkart? How this new policy may have hit e-commerce in India - from largest investment, to thoughts of sad exit
Tue, Feb 05, 2019
Walmart-Flipkart deal which took place last year, is already in the news for all the wrong reasons. Check out the reasons why and why it may shock investors and others too.
When Amazon, Walmart together lost a market capitalisation of whopping $50 billion
Mon, Feb 04, 2019
Amazon India had to pull out many products and was listed as "currently unavailable" as the new norms prohibit e-tailers from selling products of companies in which they have stakes.
New FDI rules: E-biz cos re-align operations, many Amazon products go off platform
Fri, Feb 01, 2019
E-commerce giants like Amazon and Walmart-backed Flipkart scurried to re-align their platforms to comply with the new FDI rules that came into effect Friday, with Amazon.In removing a number of products, including mobile accessories and batteries, from its platform.