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After 'Howdy Modi,' Trump and India's PM could sign trade deal

Saturday, September 21, 2019, 8:15 PM

After 'Howdy Modi,' Trump and India's PM could sign trade deal

US President Donald Trump has said there could be some announcement by him at the "Howdy Modi!" event in Houston on Sunday, where he will join PM Narendra Modi to address a meeting of 50,000-strong Indian diaspora, a PTI report said. Trump has also expressed disappointment with high tariffs imposed by New Delhi on American products that he has said were "no longer acceptable".

News

 
Vaping devices still available on Amazon, Flipkart after India ban

Thursday, September 19, 2019, 3:33 PM

Vaping devices still available on Amazon, Flipkart after India ban

Some vaping products were still listed on the Indian websites of Amazon.com Inc and Walmart's Flipkart on Thursday, while several other websites discontinued their sales a day after the government's nationwide ban. Websites such as Vapestop and Litejoy, which offered vaping products online, discountinued their operations and ran disclaimers on their websites related to the government order.

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Gionee to develop apps in India to support connected devices

Saturday, September 14, 2019, 10:19 AM

Gionee to develop apps in India to support connected devices

Smartphone maker Gionee plans to develop apps in India to support mobile-phone-accessories and connected devices. The company on Friday launched Smart 'Life' watch for Rs.2,999 on Flipkart with customised apps to optimise its function. Gionee now expects to develop all apps for other devices from the scratch in the country. Gionee's India operation is a part of Jaina Group now which owns Karbonn Mobiles.

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Flipkart on boards 27,000 kiranas to strengthen last-mile delivery

Monday, September 9, 2019, 5:21 PM

Flipkart on boards 27,000 kiranas to strengthen last-mile delivery

Walmart-owned Flipkart on Monday said it has onboarded nearly 27,000 'kirana' shops across 700 cities to strengthen its pan-India supply chain ahead of the upcoming festive season. This will further strengthen and personalise e-commerce experience for its existing 160 million customers, help deepen its reach to newer geographies and consumers and support 'kiranas' by enhancing their income, a statement said.

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Binny Bansal sells Flipkart shares worth $14 million to Tiger Global

Monday, September 2, 2019, 12:41 PM

Binny Bansal sells Flipkart shares worth $14 million to Tiger Global

Flipkart co-founder Binny Bansal has sold additional shares of the company worth $14 million to investor Tiger Global Management. The fresh sale comes after Bansal sold $76 million worth of shares earlier in June this year. The new-deal could be a part of an accelerated share sale agreement that was signed at the time of Bansal's exit from the company in November last year.

News

 
Flipkart staff to cash out stock options worth $100 million

Saturday, August 31, 2019, 5:50 PM

Flipkart staff to cash out stock options worth $100 million

Walmart-owned Flipkart has received board approval to allow current employees to cash out 10% of their vested stock options, an August 29 e-mail by CEO Kalyan Krishnamurthy stated. Employees will be able to sell the stock options at $125-130 apiece. The value of the options expected to be bought back by Flipkart is reportedly estimated to be around $100 million.

News

 
Yuri Milner's DST Global May Join In PhonePe's Mega $1 Bn Fundraise

Monday, August 5, 2019, 8:43 PM

Yuri Milner's DST Global May Join In PhonePe's Mega $1 Bn Fundraise

In March, Flipkart had passed the resolution for PhonePe to evolve as an independent entity and since then, reports have been rife that it is raising fresh funding of up to $1 Bn. This fundraise is reportedly gaining ground as investors such as DST Global, Ribbit Capital, Falcon Edge, Green Oaks and Hillhouse Capital express their interest.

News

 
Flipkart opens first offline Centre in Bengaluru

Monday, July 29, 2019, 11:42 AM

Flipkart opens first offline Centre in Bengaluru

Flipkart announced its foray into the offline space with its decision to set-up first Furniture Experience Centre in Bengaluru. Spread across nearly 1,800-square feet, Flipkart would offer a touch and feel experience to customers in the fast-evolving online furniture market, the e-commerce major said. Flipkart is also working with Google as customers visiting the experience centre can also scan the catalogue through Google Lens.

News

 
Flipkart Furniture makes an offline foray

Sunday, July 28, 2019, 7:41 PM

Flipkart Furniture makes an offline foray

Online-marketplace Flipkart has launched a furniture-experience-centre, thus marking the firm's first foray into the offline-world. Spread across 1,800-feet, Flipkart's furniture-experience-centre in Bengaluru aims to give customers a glimpse into the selection offered along with creating-awareness around seamless buying and installation, said the company on Sunday. Flipkart is also working with Google as customers visiting the experience-centre can also scan the catalogue through Google Lens.

News

 
Flipkart CEO sees UP becoming India's first trillion-dollar state economy

Sunday, July 28, 2019, 5:27 PM

Flipkart CEO sees UP becoming India's first trillion-dollar state economy

Projects that formed part of the second Ground Breaking Ceremony will help in Uttar Pradesh's quest to be first trillion-dollar state economy in India, Flipkart Group Chief Executive Officer Kalyan Krishnamurthy said. Krishnamurthy also said Chief Minister Yogi Adityanath's "vision and enabling initiatives will boost investor confidence in the state" as ease of doing business is expected to improve.

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