The deal could be formalised as early as next week, with the signing of the papers, said a highly-placed source privy to the discussion
Buys back shares worth $350 million at a valuation of $17.69 billion
This ruling is important from perspective that product discounting, advertisement, marketing expenses constitute a major portion of expenses of e-commerce companies
Tribunal says such expenses can be treated as revenue expenditure
The e-commerce portal also announced the launch date for the Zenfone Max Pro M1, which would be the first Flipkart-exclusive smartphone to launch under the new partnership on April 23
Asus CEO Jerry Shen said the company sees tremendous opportunity in creating products and services that address India's market needs
Knowledge graph refers to underlying base technologies, which was made popular by Google to enhance results it shows users from a variety of sources
The campus, spread over 8.3 lakh sq ft, has a seating capacity of over 7,300 people
The fourth private label of Flipkart overall, Miss & Chief will cater to children in the 2-10 year age group; the launch comes on the back of Flipkart seeing 100% growth in children fashion segment
While Flipkart began life as an online bookseller, over the years the company shifted its focus to more lucrative categories such as smartphones
This is its first investment in PhonePe since the e-commerce giant announced it would pump in $500 million into the digital payment app last October
Several of these leaders have moved up the ranks as 'Flipkart has grown, others have been roped in from global giants Google, Amazon and Microsoft
In a Q&A, Kalyan Krishnamurthy says firm's leadership today is defined more by game-changing metrics than numbers
In comparison, the largest e-commerce warehouse in the country today is run by US online retail giant Amazon in Telangana, which spans 400,000 square feet
To take on Amazon head on, the investments have been made in Flipkart India and Flipkart Internet
It maps customers on buying habits, not age, location or income, due to which it no longer pitches iPhones to a consumer just because he belongs to the right age group
Under the Apple Days, the e-commerce portal is offering iPhones, iPads and smartwatches at discounted prices, along with an extra cashback of 5 per cent to SBI customers
While the company's revenue grew by 29 per cent on a year on year basis, its losses shot up primarily due to a drop in its valuation
The deal comes at a time when Flipkart is looking to heavily invest in growing its grocery delivery capabilities to take on rival Amazon in India
E-commerce companies in India have learnt their lesson of burning cash on discounts to get more customers