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The website was kicked off in October 2007 and the company was only limited to selling books at that time country-wide shipping. [15] Flipkart slowly grew in prominence and was receiving 100 orders per day by 2008. [16] Flipkart acquired WeRead in 2010 from Lulu.com that helped it build its foundational strength which was the digital retail of ...
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 ...
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.
The e-commerce in India was $147.3 billion in 2024, with 18.7% CAGR through to 2028 which will be further fueled by the technology innovations (5G & 6G based higher internet speed, AI and ML based hyper-personalized shopping experience, immersive AR and VR virtual try-ons and virtual stores, blockchain based enhanced supply chain transparency and increased trust among consumers), cheaper data ...
Binny Bansal resigned from the executive team on 28 January 2024, and has completely divested his stake. In the last year, Binny, along with Excel and Tiger Global Management, sold their entire stake to Walmart, resulting in Binny earning $1.5 billion. Walmart acquired a 77% stake in Flipkart for $16 billion in May 2018. [23]
Blinkit currently operates in more than 30 cities in India. By the end of 2021, the company had raised about US$630 million from investors including SoftBank, Tiger Global and Sequoia Capital. [12] [13] [14] In 2022, Eternal acquired Blinkit for US$568 million in an all-stock deal. [15] [16]
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]
The first train was delivered for testing in London in October 2024. Planned starting date for the service is the end of 2025, first on the Piccadilly line, with full deployment by the end of 2027. The trains will enter service with a train driver, with future potential for driverless operation.