Flipkart India Private Limited, the Walmart-owned e-commerce firm, reported its revenues for the financial year 2020-21 as Rs 43,357 crore, a 25 per cent jump since the last financial year. The company further reported a net loss of Rs 2,445 crore during the same fiscal. This is a 23 per cent decrease from the last … Read more
Ninjacart, a business-to-business marketplace for agricultural produce, said on Monday it has raised $145 million (Rs1,095 crore) in a fresh round of funding from existing investor Walmart Inc. and its Indian e-commerce arm Flipkart. Ninjacart will utilize this capital for technology upgradation and better infrastructure to organize, empower and enhance the lives of agri-value chain … Read more
Flipkart’s initial public offering (IPO) is on the cards but there is no timeline for it, said Brett Biggs, executive vice president and chief financial officer of Walmart, the American retailer that owns the Indian e-commerce firm “The (Flipkart) business is performing almost exactly like we thought it would. An IPO is still very much … Read more
Amazon Pay, the digital payments arm of the e-commerce giant and MakeMyTrip India, a fully owned subsidiary of MakeMyTrip Limited (MMYT), India’s leading travel group, have announced a strategic long-term partnership to offer travel services on Amazon.in which includes its suite of mobile apps and websites. The partnership will help Amazon Pay create a convenient … Read more
The Supreme Court on Monday said an antitrust investigation into business practices of Amazon.com Inc and Walmart’s Flipkart must continue, rejecting demands of the two e-commerce giants to put them on hold. The Competition Commission of India (CCI) ordered the investigation in 2020 against the companies for allegedly promoting select sellers on their e-commerce platforms … Read more
The Flipkart Group, a homegrown consumer internet ecosystem, on Monday said it raised $3.6 billion to fund its digital commerce activities in India. The fundraise seen participation from global investors, including sovereign funds, private equity and crossovers in addition to Walmart. The new investment values Flipkart Group at $37.6 billion. This round of funding was … Read more
Walmart-owned e-commerce firm Flipkart has launched Shopsy, an app that will enable Indians to start their online businesses without any investment. With the ability to influence their local network and fulfil their aspirations, users of Shopsy will be able to share catalogues of a wide selection of 15 crore products offered by Flipkart sellers. These … Read more
India will require e-commerce firms to treat sellers equally on their platforms and ensure transparency, according to a draft policy seen by Reuters on Saturday that follows criticism against business practices of big online companies. India has been deliberating a new e-commerce policy for months amid complaints from brick-and-mortar retailers who allege online giants like … Read more
E-commerce major Amazon India on Sunday said it has enabled over one lakh local shops, kiranas and neighbourhood stores across the country through its various initiatives to facilitate delivery of packages this festive season. More than 20,000 offline retailers, kiranas and local shops from ‘Local Shops on Amazon’ programme will participate in ‘Great Indian Festival’ … Read more