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In August 2018, American retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing Flipkart at around US$20 billion. Flipkart is valued at $37.6 billion as of 2022. It is planning to go public through a listing in the United States of America in 2023. On 13 November 2018, Flipkart CEO Binny Bansal resigned ...
Shopsy is a zero-commission marketplace model for sellers in India . It is a digital commerce initiative by Flipkart, the Bengaluru -headquartered and Walmart-owned e-commerce company with over US$7.7 billion in annual revenue (FY 2022). [21] [22]
Businessman. Known for. Co-founder, former chairman and CEO, Flipkart [2] Spouse. Trisha Bansal. Binny Bansal (born 1982/1983) is an Indian billionaire [2] Internet entrepreneur. [3] As of February 2024, his net worth was estimated at US$1.4 billion. [1] In 2007 he co-founded the e-commerce platform Flipkart.
India's e-commerce market was worth about $3.9 billion in 2009. As per "India Goes Digital", [10] a report by Avendus Capital, the Indian e-commerce market is estimated at ₹28,500 crore ($6.3 billion) for the year 2011. Online travel constitutes a sizable portion (87%) of this market today. Online travel market in India had a growth rate of ...
In 2018, Bansal exited Flipkart following the Walmart deal. In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion.
June 14, 2023 at 10:15 AM. By Siddharth Cavale. NEW YORK (Reuters) - Walmart's Flipkart marketplace and PhonePe payments business in India could be $100 billion businesses buoyed by strong growth ...
As of 2023, it has over 245,000 employees at 18,000 store locations in 7,000 towns. Apart from physical stores, the company also sells products on its e-commerce channels. As of August 2023, [update] the company is valued at $100 billion.
Alphabet's Google will pick up a minority stake worth $350 million in Walmart-backed Flipkart, valuing the Indian e-commerce firm at $37 billion, a source with direct knowledge of the matter told ...