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[41] [42] In July 2017, Flipkart made an offer to acquire its main domestic competitor, Snapdeal, for US$700 to 800 million. It was rejected by Snapdeal, which was seeking at least US$1 billion. [43] In August 2018, American retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing Flipkart at around US$20 ...
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[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]
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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.
Updated November 23, 2023 at 6:33 AM Amazon Black Friday deals 2023: Save up to 80% on 1,000s of products [Editor’s note: We’re updating our coverage daily, so head over to our Best Amazon ...
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.
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