Walmart Inc-controlled Indian e-commerce firm Flipkart is preparing for an initial public offering overseas as early as 2021, which could value the firm up to $50 billion, sources familiar with the company’s plans told Reuters. Bengaluru-based Flipkart, which vies with players such as Amazon.com’s local unit in India and India’s Reliance Industries, will be aiming … Read more
The investment firms have progressed to the final round of bidding for India’s Piramal Glass, the people said, asking not to be identified as the information is private. Billionaire Ajay Piramal’s conglomerate is seeking a valuation of $1 billion for the unit from the sale, the people said. Piramal could name a winner as soon … Read more
Indian conglomerate Reliance denied a report Thursday that it was planning to sell a $20-billion stake in its retail business to US rival Amazon in a deal that could upend the country’s hugely lucrative e-commerce sector. The report published by Bloomberg on Thursday said that Reliance, owned by Asia’s richest man Mukesh Ambani, had offered … Read more
China’s tech giant Alibaba Group is unlikely to sign fresh deals in Indian companies in the coming months amid higher scrutiny on Chinese investments amid tension between the two nations, said a person familiar with the development. Alibaba is among other Chinese investors who have pulled the brakes on new investments in Indian startups after … Read more
At first read, the presented arguments may sound counter intuitive. However, think carefully and you might agree.
Amazon CEO Jeff Bezos wrote in his statement to the antitrust House committee last week that Shopify is a new competitor. Shopify CEO Tobi Lutke, however, said Amazon is not a “direct competitor” during the company’s earnings call last week. E-commerce experts say they’re “indirect” competitors that effectively play in the same field. Visit Business … Read more
Billionaire Mukesh Ambani‘s oil-to-telecom conglomerate Reliance Industries has been ranked second biggest brand after Apple on the FutureBrand Index 2020. “This year’s highest entrant at number two, Reliance Industries excels on every attribute,” FutureBrand said, releasing its 2020 Index. One of the most profitable companies in India, Reliance is, “very well respected” and “seen as … Read more
