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On 22 December 2023, Flipkart confirmed that US$600 million will be raised from Walmart out of its total fundraising plan of US$1 billion. The expected valuation of the deal will range from US$34 billion to US$37 billion. In 2022 after PhonePe's separation, Flipkart was last valued at around US$33 billion. [citation needed]
[38] [39] [40] Similar to US-style shopping events such as Black Friday, online retailers adopted the practice of holding multi-day promotions during this period, such as Amazon's "Great Indian Festival" and Flipkart's "Big Billion Days". India's Independence Day (August 15) had also recently attracted similar events. [40] [41]
Clovia is an Indian innerwear and loungewear company. In 2022, Reliance Retail acquired a 89% stake in the company for $125 million. [57] 11 Metro Cash & Carry India: In December 2022, Reliance Retail acquired Metro Cash & Carry India for ₹ 2,850 crore (US$362.57 million). After the acquisition, Reliance Retail gained control of 31 Metro ...
On May 9, 2018, Walmart announced its intent to acquire a 77% majority stake in the Indian e-commerce company Flipkart for $16 billion, in a deal that was completed on August 18, 2018. [275] [276] [277] As of October 31, 2022, there are 28 Best Price Modern Wholesale locations. [3] [4]
In August 2022, Shopsy had 100 million users. [16] In September 2022, the company launched Grand Shopsy Mela for direct customers and eventually introduced a vernacular search for addressing the non-English speaking demographic. [17] As of December 2022, the mobile app had 11 lakh sellers with 68% of its customers coming from Tier-2 Indian ...
Big Bazaar Converting to Smart Bazaar at Avani Riverside Mall. In 2020, Big Bazaar was acquired by Reliance Retail, the retail division of the Reliance Industries, as part of a ₹24,713 crore ($3.36 billion) sale transaction of Future Group. However, the deal was called off on 23 April 2022 after FRL's creditors voted against going forward ...
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]
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.
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