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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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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Flipkart names Kalyan Krishnamurthy new CEO, Binny Bansal Group CEO

Binny-BansalE-commerce company Flipkart on Monday named Kalyan Krishnamurthy its new chief executive officer and made co-founder and current CEO Binny Bansal the group CEO in a major organisational restructuring. Krishnamurthy, a former Tiger Global executive, currently heads the design organisation category. Co-founder Sachin Bansal will continue to be the executive chairman, “providing strategic direction for […]

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