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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Flipkart to add 30% workforce in 2017

FlipkartAmid massive job cuts in India’s fast-growing e-commerce industry, home-grown online marketplace Flipkart is planning to ramp up its hiring efforts, a media report said. The Times of India reported, citing unnamed sources, that the company will hire 20-30% additional workforce in 2017. It said that the company is looking to expand its key teams, […]

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Flipkart COO Nitin Seth looks to ‘bring back the DNA’ by rehiring old hands

Nitin SethE-commerce major Flipkart, which has seen continuous churn at the top level for the last few quarters, is quietly working to revamp its senior leadership team by bringing back old hands. At least half-a-dozen senior executives have returned to the company in the last few months. Flipkart COO Nitin Seth, who also oversees the human […]

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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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Former Fidelity India executive Pratul Chopra joins Flipkart

Pratul-Chopra_feThe founder of carpooling app iRideShare and former head of marketing analytics at Fidelity India Pratul Chopra has joined Flipkart’s senior leadership team. At Fidelity, Chopra had worked under Nitin Seth, former country head of Fidelity in India and currently Flipkart’s chief operating officer. Chopra joined on Monday and will be part of strategy deployment. […]

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Flipkart has no plans to cut jobs, says COO Nitin Seth

VCCircle_Flipkart8Flipkart’s chief operating officer Nitin Seth has allayed fears that employee rationalisation, which has been rearing its head in the country’s e-commerce sector, will engulf the company as well. “We had to go through that phase last year but with the growth we saw in the last quarter and January, and with February shaping up […]

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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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Exclusive: Management rejig at IGP as majority investor Tarun Joshi takes charge

Tarun JoshiClose on the heels of investor-led management changes at e-commerce major Flipkart and lingerie e-tailer Zivame, India’s largest multi-category gifting company IGP (earlier called Indian Gifts Portal) has initiated management restructuring wherein its majority investor, Tarun Joshi, has taken over as executive chairman to spearhead its international growth aspirations. Joshi is the India director of […]

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Flipkart suffers two more senior-level exits

FlipkartSenior-level exits continue at Flipkart even after the company went through a management rejig that saw former Tiger Global executive Kalyan Krishnamurthy being appointed as chief executive earlier this year. This time around, senior vice presidents of engineering Hari Vasudev and Ashish Agrawal resigned from the e-commerce firm this week, a report in Mint states. […]

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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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