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On 4 May 2018, it was reported that Walmart had won a bidding war with Amazon to acquire a majority stake in Flipkart for US$15 billion. [97] [98] On 9 May 2018, Walmart officially announced its intent to acquire a 77% controlling stake in Flipkart for US$16 billion. [99] Following the purchase, Flipkart co-founder Sachin Bansal left the company.
Trisha Bansal. Binny Bansal (born 1982/1983) is an Indian billionaire [2][3] 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. [4][5] He was the chief operating officer until January 2016, when he was promoted to chief executive officer (CEO ...
Walmart's Flipkart marketplace and PhonePe payments business in India could be $100 billion businesses buoyed by strong growth, the retailer's chief financial officer said on Wednesday at an ...
India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. [1] Despite being the second-largest user base in world, only behind China (1.079 billion, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54M, 81%), but is growing, adding around 6 million new entrants every ...
September 23, 2024 at 3:00 AM. By Aditya Kalra. NEW DELHI (Reuters) - China's Xiaomi has asked India's antitrust body to recall its report that found the company and Walmart's Flipkart breached ...
According to documents seen by the New York Times, OpenAI expects revenue of $3.7 billion in 2024, $11.6 billion in 2025, and $100 billion in 2029.
In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] 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. [7]
Following the unsuccessful plan to merge with Flipkart, Snapdeal pursued a new strategy it called Snapdeal 2.0. The initiative saw the sale of non-core businesses, Freecharge and Vulcan Express, to dedicate more resources to Snapdeal's e-commerce marketplace, which is its core business. [13] [14] The strategy yielded strong results.