Flipkart co-founder Binny Bansal has resigned from the e-commerce group’s board, the two said Saturday. Sachin Bansal, the Bengaluru-headquartered startup’s other co-founder, left the board in 2018 after scuffle with the investors. Binny Bansal, who reserved the rights to stay on Flipkart’s board for as long as he preferred, cited conflict of interest with his … Read more
Walmart has spent $3.5 billion this 12 months to accumulate shares from sure Flipkart stakeholders and resolve liabilities with some PhonePe shareholders, illustrating simply how aggressively it’s betting on India at a time when its chief world rival Amazon is scaling again on its expenditures within the South Asian market. The $3.5 billion spending befell … Read more
Walmart paid $1.4 billion to purchase out Tiger International’s remaining holding of Flipkart shares because the retail big additional expands its stake within the Indian e-commerce startup. The transaction happened in current days and Tiger International, which has cashed most of its Flipkart shares earlier, total made a return of $3.5 billion on an funding … Read more