Flipkart raises $1 bn in down round: Report

VCCircle_Flipkart8Bengaluru-based e-commerce behemoth Flipkart Online Services Pvt Ltd has reportedly raised $1 billion in a massive fundraising round. The firm will also secure an additional $1 billion in the next few months, a report by Bloomberg stated citing people aware of the development. The funds were secured at a down round that valued the company […]

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MakeMyTrip’s Kalra, Flipkart’s Binny Bansal & others back AI fund pi Ventures

pi VenturesEarly-stage venture fund pi Ventures has announced the first close of its maiden fund at $13 million, with technology entrepreneurs such as former Infosys CFO and Aarin Capital chairman TV Mohandas Pai, Flipkart’s Binny Bansal, MakeMyTrip’s Deep Kalra and Info Edge’s Sanjeev Bikchandani, and angel investor Bhupen Shah, backing it, among others. The fund has […]

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Flipkart in talks to raise $1.5 bn from Microsoft, eBay and others

FlipkartHome-grown ecommerce major Flipkart is in talks with a bunch of investors to raise a significantly large round of investment as the company has started seeing a renewed growth momentum under the new leadership of CEO Kalyan Krishnamurthy. The firm is in discussions with global tech giant Microsoft Corp., online marketplace eBay Inc., online payment […]

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Microsoft’s India cloud plans get booster shot as Flipkart signs up

Binny-Bansal,GroupCEOand-Co-FoundSatyaNadellaCEOMicrosoft_tc_feGlobal technology leader Microsoft and India’s top e-commerce firm Flipkart have announced a broad collaboration under which, as a first step, the latter will use Microsoft Azure as its exclusive public cloud platform. Microsoft CEO Satya Nadella and Flipkart group CEO Binny Bansal together announced the partnership at an event in Bangalore on Monday. The […]

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Is Flipkart clawing back in the game against Amazon?

In early signs of a reversal in fortunes, Flipkart has outrun rival Amazon India in gross sales in two consecutive months, after trouncing the US-based ecommerce company with its Big Billion Day sales in October. The Indian ecommerce giant recently witnessed a top-level management rejig. Citing four unnamed people familiar with the numbers of the […]

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Med-tech startup SigTuple raises $5.8 mn from Accel, IDG Ventures, others

SigTupleMedical-technology startup SigTuple Technologies Pvt. Ltd has raised $5.8 million (around Rs 38.8 crore) in a Series A funding round led by Accel Partners with participation from IDG Ventures, Endiya Partners, pi Ventures, VH Capital and Axilor Partners. A number of angel investors, including Flipkart co-founders Sachin Bansal and Binny Bansal; and Amit Singhal, senior […]

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Flipkart’s Sachin Bansal reiterates stand on ‘level playing field’ for local cos

Sachin-Bansal_feE-commerce giant Flipkart’s co-founder Sachin Bansal has re-ignited the debate around a “level playing field” for Indian startups, saying it is essential to ensure that local companies don’t get “prematurely killed” by foreign competition. “Indian companies can and they should build products which are world-class, and take them globally. Zomato, Practo and Freshdesk are clear […]

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Flipkart, Amazon drop $1 bn Souq acquisition bid: Report

Snapdeal_flipkat_amazonUS-based Amazon.com Inc and Indian online retailer Flipkart have dropped a bid to acquire Middle East-based horizontal e-commerce venture Souq.com due to a disagreement over price, Bloomberg reported on Wednesday. Souq.com has now reached out to Dubai-based mall company Majid Al Futtaim, the report said, citing two people aware of the development. Amazon had started […]

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Reshuffle continues at Flipkart as 3 more top-level execs resign

FlipkartTwo days after Flipkart appointed investor Tiger Global’s former executive Kalyan Krishnamurthy as its new CEO, three top management executives are reportedly leaving the company. According to a report by The Economic Times on Wednesday, Flipkart’s supply chain arm Ekart’s head Saikiran Krishnamurthy, senior vice president and head of product Surojit Chatterjee and chief marketing […]

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Will Tiger man Kalyan Krishnamurthy ride Flipkart out of trouble?

Kalyan-KrishnamurthyShedding whatever remaining trappings of an advisory role, venture capital investor Tiger Global has taken direct control of Flipkart with the appointment of its former executive Kalyan Krishnamurthy as CEO of the e-commerce firm. Krishnamurthy will be responsible for the company’s profit and loss, apart from “operationally driving it”, with the COO and heads of […]

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