The e-commerce company has evolved a new corporate strategy by cutting its marketing budgets by a third but increasing its conversions and reach
In a tweet, the Competition Commission of India said that it has approved "acquisition of up to 6.02 per cent stake by Aceville in Flipkart".
Some employees are of the opinion that the amount worth about 4-6 times of their monthly salary is being offered is just to make sure that no roadblock happens from their end as due diligence is underway
From leading tech multinationals to startups, 13 homegrown companies found a place in the list.
"These homeowners and professionals expressed strong interest in helping us localize Houzz for India, and we're excited to work with them to further tailor the experience," says Adi Tatarko, CEO and co-founder of Houzz, which made the CNBC Disruptor 50 list for the third straight year.
Xiaomi had forayed into the Indian market in 2014, selling smartphones exclusively online through Flipkart. However, a year later, it partnered with distributors to sell devices through brick and mortar stores as well.
The Flipkart Big 10 Sale to mark its tenth anniversary celebrations continues and it seems there's still alot of gobsmacking and irrestitible deals on offer. The e-tailer is offering up to 90 percent discount on several items across categories, along with bank tie-ups that give cashbacks on using credit and debit cards. The Flipkart Big 10 Sale concludes on May 18, so keep a track to land yourself a good deal.
The association claimed that over 500 sellers have unsettled dues with Snapdeal, and would lose out if the deal is allowed to go ahead.
Investors drive decisions on merger with Flipkart, even as Snapdeal has hired Amarchand Mangaldas to lead the negotiations for the deal, expected to be concluded this month.
Sale of a company often leaves employees high and dry, but not in the case of Snapdeal that may offer a Rs 193 crore bonanza to its staff if the homegrown e-commerce firm is taken over by larger rival Flipkart.
The payout is part of the merger of Snapdeal with Flipkart, sources confirmed to Moneycontrol. SoftBank is likely to invest a large sum in the merged entity, giving the existing stakeholders an exit.
With intense competition from deep-pocketed global rivals like Amazon, companies like Flipkart and Snapdeal could face more heat in the coming days
The Big 10 sale, which is different from the flagship The Big Billion Days sale, will be held between May 14 and 18 to mark completion of 10 years of Flipkart's operations.
The two ecommerce companies are expected to start due diligence over the feasibility of the merger in next week.
It is game on at Flipkart. India's most-valued startup is out to prove its critics wrong and stay ahead of the deep-pocketed global giant Amazon. And its leaders, and 8,000-plus team, believe they can innovate to grow even stronger as India's ecommerce story heads into uncharted territory
After ploughing about USD 2 billion into minority stakes in Indian e-commerce businesses over the past few years, Japan's SoftBank is upping the stakes, looking to play consolidator and take a more active role at a trio of leading start-ups.
Amazon and Flipkart are readying for big sale days in May and vendors suggest they are already stocked up to four times their usual inventory levels.
Consumer electronics firm BPL has ended its three-year deal – which was to end in 2018 - with online marketplace Flipkart. BPL has now shifted to Amazon India where it will sell its big electronic products like washing maching and televisions online.
Snapdeal held a board meeting on Tuesday, where founders Kunal Bahl and Rohit Bansal gave their nod to the deal and agreed to the compensation terms.
Today's board meeting will clear the air on final contours of the sale, and seal the fate of the existing employees of Snapdeal
Paytm is India's largest digital-payments provider. Its parent company, One97 Communications, was valued at $4.2 billion in 2015, according to reports. However, recent estimates suggest the latest figure could be between $7 billion to $9 billion if the SoftBank India investment is factored.
The approval of Nexus Venture Partners will be crucial for the proposed transaction to proceed, according to sources close to the development. The seven-member board of Jasper Infotech, which operates Snapdeal, includes representation from investors SoftBank, Kalaari Capital and Nexus Venture Partners (NVP), as well as co-founders Kunal Bahl and Rohit Bansal.
The SoftBank board has given in-principle nod to hold 20 percent stake in Snapdeal-Flipkart merged entity, besides approving a plan to buyout Snapdeal investors ahead of the potential merger, sources said.
To stand a chance to win, applicants were required to write a statement of purpose stating why they should be selected to be the CEO for a day