Dive into the tech & future
Flipkart, according to a report in Economic Times, has told its employees that the top 30% of the staff, which includes the top leadership, will not be eligible for appraisals this year as the ecommerce giant is battling tough macroeconomic conditions. The report quotes an internal note sent by Flipkart‘s chief people officer Krishna Raghavan.The … Read more
Private equity firms Accel and Tiger Global, two early backers of Indian e-commerce firm Flipkart, are in talks to sell their remaining stake in the company to parent Walmart for about $1.5 billion (roughly Rs. 12,235 crore), the Economic Times reported on Thursday. The stake, which collectively amounts to about 5 percent, would raise Walmart‘s … Read more
Walmart-backed PhonePe said on Thursday it raised $350 million (roughly Rs. 2800 crore) from private equity firm General Atlantic at a $12 billion (roughly Rs. 97,700) valuation, making it India’s most valuable payments firm and giving it funds to expand into the lucrative lending space. A second tranche of investments from marquee global and Indian … Read more
Flipkart and PhonePe are ‘parting ways’. Flipkart has completely separated its business operations from Phone’s, the two entities announced, saying that the move would allow both to chart their own growth paths. PhonePe Group was acquired by Flipkart Group in 2016. “We are confident PhonePe will continue to scale and achieve its vision of providing … Read more
The Walmart-owned e-commerce website Flipkart is set to kick off its Big Saving Days sale. The sale will go live starting December 16 and will run till December 21. The six-day sale is expected to offer heavy discounts on a wide range of products, including smartphones, and other electronic devices. However, Flipkart Plus subscribers can … Read more