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According to the Registrar of Companies (RoC), Walmart-owned Flipkart recently infused Rs 1,421 crore in its Indian marketplace arm, Flipkart Internet. The amount was infused in two tranches on March 23 and April 6 through Singapore, its parent holding company. 💸📈 Although this is not fresh funding from the parent level, rather it's an internal cash transfer. However, this is considered the second-highest fund infusion received by Flipkart Internet from its Singapore-based entities in 2024. Besides, the Economic Times adds that the company received $111 million on March 4th. 🚀🌟 Additionally, it has been anticipated that the new funding makes the total infusion in the marketplace arm to $281 million. Moreover, the Bengaluru-oriented company has rolled out the same-day delivery process with zero extra cost from February. #Flipkart #SingaporeInvestment #IndianMarketplace #BusinessNews #InvestmentInIndia #MarketExpansion #EconomicGrowth #FlipkartNews #TheEconomicTimes #Magicminds #MagicmindsBlogs

🛒Flipkart Faces Departure of Four SVPs Amid Profitability Drive. 🔍Summary: - Flipkart, aiming for profitability, witnesses the departure of four senior vice presidents (SVPs), including Cleartrip's Ayyappan R, marketplace leader Amitesh Jha, fintech head Dheeraj A, and growth head Bharath Ram. - Kalyan Krishnamurthy, Flipkart's group CEO, informed employees of the departures, attributing them to career transitions. - Amitesh Jha and Ayyappan R, with tenures since 2010 and 2013 respectively, represent some of the longest-serving executives at Flipkart. - The departures follow Krishnamurthy's recent announcement of Flipkart nearing profitability through cost reduction initiatives. - Previous exits include senior VP Adarsh Menon in May 2023 and supply chain SVP Ravish Sinha in March 2023, among others. - Flipkart is anticipated to trim around 1,000 jobs, representing a 5% reduction in team size, as part of its annual performance review process. - Flipkart India, the B2B arm, reported a widened standalone net loss of over 42% YoY in FY23, while Flipkart Internet saw a 1.5X YoY surge in net loss in FY22. 📉Key Points: - Departures signal organizational changes as Flipkart intensifies efforts towards agility and efficiency. - Krishnamurthy's emphasis on cost reduction aligns with Flipkart's broader goal of achieving profitability. - Previous executive departures include those of Adarsh Menon and Ravish Sinha in 2023. - Flipkart anticipates trimming 5% of its workforce, affecting around 1,000 employees, amidst profitability efforts. - Financial indicators show Flipkart India's widened net loss and Flipkart Internet's increased net loss in recent fiscal years. 🔮Future Outlook: - The departure of SVPs and impending job cuts indicate Flipkart's strategic shifts to enhance operational efficiency and achieve profitability. - Flipkart's profitability drive remains central amid competitive pressures in the e-commerce landscape. #Flipkart #Profitability #Departures #CostReduction #StartUpNews #BusinessNews #MicroShots #NewsUpdates

Walmart pays $3.5 billion to hike stake in Flipkart Walmart, the US retail major has raised its stake in Flipkart as it paid $3.5 billion (around ₹28,953 crore) to acquire shares from its non-controlling interest holders in first half of 2023, said a report by PTI citing Walmart’s statement. During the first half of 2023, Flipkart received $700 million related to new rounds of equity funding for its subsidiary PhonePe, said the Bentonville-based Walmart in a US Securities & Exchange Commission (US SEC) filing. “During the six months ended July 31, 2023, the company paid USD 3.5 billion to acquire shares from certain Flipkart noncontrolling interest holders and settle the liability to former noncontrolling interest holders of PhonePe”said the report quoting Walmart’s US SEC filing. ec  The US retailer has acquired the stake from hedge fund Tiger Global and Accel Partners. It also acquired the residual stake of Flipkart co-founder Binny Bansal, said the report. Post the acquisition of further stake in Flipkart, Walmart’s total holding in the Indian e-commerce company would rise to 80.5%, as per some reports. In 2018, Walmart completed the acquisition of a 77% stake in Flipkart.  The company is planning to list Flipkart on the stock exchanges.  In August, Walmart had said that Flipkart’s GMV was strong and e-commerce rose 26% in the June quarter of this fiscal year. “Both our businesses in India, Flipkart and PhonePe, had strong quarters as well. A lot of that is driven from just really being close to the customer in those markets and the combination of value and convenience that we’re now able to offer,” Walmart International president and chief executive officer Judith McKenna had said.  Mahindra Logistics Ltd on Friday said that it has collaborated with Flipkart for providing a dedicated fleet of heavy commercial vehicles, assistance in route management and network operations, among others for the latter’s pan India operations. Under the partnership, Mahindra Logistics will operate 32 feet single axle HCVs for Flipkart in collaboration with Daimler India Commercial Vehicles, which will run on multiple national routes, across the country. (With inputs from PTI) Updated: 03 Sep 2023, 08:39 PM IST Source link The post Walmart pays $3.5 billion to hike stake in Flipkart appeared first on Share Price India News. #stockmarket #Financialmarkets https://bit.ly/45RyASk

🚀 Exciting News Alert! Flipkart, India's leading consumer internet giant, is in discussions to shift its domicile back from Singapore to India! 🇮🇳 With its current valuation soaring at around $33 billion, this move could potentially yield substantial tax benefits for the Indian government. The decision aligns with Flipkart's long-term strategy, especially in preparation for a potential IPO in the future. Despite the anticipated challenges due to its massive scale and intricate business structure, Flipkart is determined to make the transition. This move follows the footsteps of its subsidiary, PhonePe, which successfully relocated back to India in late 2022. Flipkart's pivot is indicative of the maturing Indian venture ecosystem and the growing attractiveness of domestic markets for large-scale businesses. With a focus on profitability and operational efficiency, Flipkart is poised for further growth and success. Stay tuned as Flipkart embarks on this transformative journey, reinforcing its commitment to its Indian roots and driving innovation in the ecommerce landscape! 🛒📈 to know more:https://lnkd.in/gaqgZxbi #Flipkart #IndianEcommerce #DomicileShift #StartupNews #TechInIndia #Innovation #IPOPreparation

Walmart Buys Tiger Global's Stake in Flipkart for a Whopping $1.4 Billion! Walmart Inc. has made a strategic move by acquiring Tiger Global Management's remaining stake in Flipkart for a sum of $1.4 billion. This acquisition comes at a valuation of approximately $35 billion for Flipkart, slightly lower than its valuation of $38 billion in 2021. Walmart initially entered Flipkart in 2018, making a hefty investment of $16 billion for a 77% stake, thus initiating a direct rivalry with Amazon, led by Jeff Bezos. Expressing confidence in Flipkart's future prospects, a Walmart spokesperson stated their positive outlook on India's market potential, emphasising their long-term commitment to building a sustainable and profitable business. Though an IPO is part of their long-term ambitions, the timing will be chosen carefully. Despite both Walmart and Amazon making significant inroads into India's burgeoning digital economy, neither company has achieved profitability in the space. Moreover, other players like Mukesh Ambani's JioMart and Sequoia-backed Meesho have intensified competition in the market. This latest development showcases Walmart's dedication to tapping into India's dynamic market, setting the stage for exciting future growth opportunities for Flipkart. #Flipkart #Walmart #TigerGlobal #India #Ecommerce

Exciting News from Flipkart! Flipkart Internet, the marketplace arm backed by Walmart, has received a significant cash infusion of INR 1,421 Cr (around $170 Mn) from its Singapore parent through an internal transfer. This marks the second major fund injection into Flipkart Internet this year, totaling around $282 million in 2024 alone. The funding comes amidst Flipkart's plans for expansion, including venturing into the quick-commerce space and introducing bus booking facilities on its app. With partnerships across state transport corporations and private aggregators, Flipkart aims to provide access to 10 Lakh bus connections covering over 25,000 routes across India. Despite recent valuation fluctuations attributed to the demerger of PhonePe, Flipkart remains focused on growth and innovation. Walmart has committed to investing $600 Mn in Flipkart's fresh funding round, likely valuing the company at a premium of 5-10% to its last valuation of $33 Bn. Stay tuned as Flipkart continues to redefine the ecommerce landscape and expand its offerings to better serve customers across India! #Flipkart #Ecommerce #Funding #Expansion #Innovation https://lnkd.in/ggjckQ7t

Google has invested a massive $350 million in Flipkart as part of a funding round led by Walmart. This investment has raised Flipkart's valuation to over $35 billion. Google's investment is part of a larger $1 billion funding round, which also saw Walmart invest $600 million in December 2023. But here is the real question: What's in it for India? First things first, this deal depicts Google's interest in tapping into India's rapidly growing and competitive e-commerce market and its millions of online shoppers. The market could see increased competition among different players, leading to a wider variety of products and services for Indian consumers. Additionally, a more competitive market often translates to better pricing and improved shopping experiences for customers. Indian consumers could potentially benefit from attractive discounts, offers, and an enhanced overall shopping journey as e-commerce companies strive to outdo each other. Flipkart's potential collaboration with Google Cloud services is another aspect that could indirectly benefit Indian consumers. By leveraging Google's cloud infrastructure, Flipkart may be able to enhance its operations, logistics, and delivery capabilities, resulting in faster and more efficient service for customers across the country. Although the immediate impact of this investment may be felt by Flipkart through strengthening its market standing and improving its infrastructure, the long-term consequences could be much broader Indian consumers. #google #flipkart #investments #walmart #ecommerceindia

TECH JOURNEY :: DAY 22 The Incredible Journey of Flipkart! Once upon a time in Bangalore, two young friends, Sachin and Binny, decided to start an online bookshop called Flipkart. They wanted to make it easy for people to buy books without leaving their homes. Sachin and Binny worked hard to make Flipkart special. They made sure that customers always got what they wanted and were happy. This made Flipkart very popular, and more and more people started buying from them. But Sachin and Binny didn't stop there. They thought about what else people might want to buy online. They started selling electronics, clothes, and many other things. People loved it because Flipkart always took care of them. Sometimes things didn't go perfectly. Sachin and Binny tried new ideas like a music service called Flyte and a payment gateway called PayZippy. These ideas didn't work as well as they hoped, but they didn't give up. Instead, they learned from their mistakes and kept improving. They made it easier for people to pay with cash and return things they didn't like. This made Flipkart even more popular. Soon, big companies like Walmart noticed Flipkart's success. They wanted to be part of it, so they bought Flipkart. Sachin and Binny had created something amazing from just a small idea. The story of Flipkart teaches us that hard work, listening to customers, and learning from mistakes can lead to incredible success. Sachin and Binny showed us that with determination and a focus on making people happy, anything is possible. #FlipkartSuccess #CustomerCentricity #InnovationJourney #ResilienceInBusiness #LearnFromMistakes #CreateExtraordinary #EmbraceChallenges