. The company had launched products under the brand name DigiFlip as far back as 2012. However, the brand didn't stick around for long as Flipkart saw slow sales until it finally discontinued it couple of years later.
They called the govt to allow foreign capital in India, but restrict foreign consumer internet companies from setting up shops
After Time Magazine put Flipkart Founders - Sachin Bansal and Binny Bansal - on the list of 100 Most Influential People in the world, the Straits Times of Singapore has chosen them for the prestigious "2016 Asian of the Year" as part of a group called the "The Disruptors." "Flipkart's innovative steps, aimed at transforming commerce in India through technology, have truly disrupted the market and it makes us proud to be recognized for this achievement.We accept this honor on behalf of all Indians," Sachin Bansal and Binny Bansal said in a joint statement here. Earlier this year, Time Magazine put Sachin Bansal and Binny Bansal on the list of 100 Most Influential People in the world. In 2014, the award was given to Prime Minister Narendra Modi and in 2015, it was awarded posthumously to Lee Kuan Yew, Singapore's founding father, the statement said. The Asian of the Year 2016 awards recognises entrepreneurs "operating at the frontiers of technology's interface with ..
New fund will start making investments from 2017 and is 40% larger than the fourth fund raised by Accel in March 2015
Flipkart's having a really bad year, reports Tech in Asia
According to Morgan Stanley, Flipkart is now worth $6 billion from $15 billion, reports Tech in Asia
Flipkart has been struggling to raise funds at a valuation of $15.2 billion or more
Losses mount despite growth in revenue as Amazon matches it in a discount war
This, as investors get jittery over global competition
Amazon has already began to pilot grocery sales in select Indian cities
E-commerce entities have seen sales fall after the government's move
Citing both a tough market scenario in e-commerce and the previous year's experience, the institutes say some of these major players might not come
Myntra purchased Jabong about 4 months ago; hopes to make it profitable by the end of 2017
Valic, Fidelity pare share value by 11.3%, & 3.2%, for August quarter
Several executive roles were also changed, resulting in a slew of exits
The company claims it is the only marketplace that continues to offer free delivery of goods priced above Rs 20,000
Flipkart's value has eroded by a third from a peak of $15.2 billion to as low as $9 billion following several investor markdowns
Flipkart, India's largest e-commerce firm has seen several top exits in its leadership with the latest being its chief financial officer Sanjay Baweja.
Sanjay Baweja quits two years after joining the company from Tata Comm
Higher sales were reported in categories such as smartphones, electronics, fashion and large appliances