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
Masayoshi Son-led SoftBank Group Corp is in talks with Flipkart to invest $700 million in the e-commerce giant, according to the reports by The Economic Times and Mint. Japan’s SoftBank is looking to invest in Flipkart, three years after it sold its entire stake in the company to Walmart Inc, the world’s largest retailer. … 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
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