Search results
Results from the WOW.Com Content Network
In 2017, Flipkart sold 1.3 million phones in 20 hours on 21 September during its Big Billion Days promotion, doubling the number sold on the first day of the same event in 2016. [39] Flipkart held a 51% share of all Indian smartphone shipments in 2017, overtaking Amazon India (33%). [40]
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]
As expected, the timing of Flipkart's Big Billion days event negatively affected year-over-year sales comparisons. Outside of India, e-commerce sales grew more than 20% across all markets.
In 2018, Walmart acquired a 77% stake in the Flipkart Group. After the acquisition, Binny Bansal assumed the role of chairman and continued as Group CEO. [18] His 5.5% stake in Flipkart was valued at $1 billion after the acquisition. [19] [20] He resigned from Flipkart in November 2018 on allegations of personal misconduct. [21]
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 ...
In 2013, Cyber Monday online sales grew by 18% over the previous year, hitting a record $1.73 billion, with an average order value of $128. [150] In 2014, Cyber Monday was the busiest day of the year with sales exceeding $2 billion in desktop online spending, up 17% from the previous year. [151]
Flipkart is acquiring a 7.8% stake in Aditya Birla Fashion as the Walmart-owned Indian e-commerce firm makes a further push into the apparel category in one of the world’s largest retail markets.
Flipkart is currently valued at over $40 billion and may dilute around 7% for raising as much as $3 billion, the Mint report said. Walmart to raise up to $3 billion for Flipkart - Mint Skip to ...