Ninjacart gets Walmart funds

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 IPO ‘very much on the cards’, no timeline for it: Walmart CFO

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

MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services

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

Supreme Court says CCI probe against Amazon, Flipkart will continue

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

Flipkart raises $3.6 bn to fund its India expansion

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

Flipkart launches Shopsy to enable over 25 mn online entrepreneurs by 2023

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’s draft e-commerce policy calls for equal treatment of sellers

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