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Flipkart achieved a gross merchandise volume of US$300 million during the event, with the largest volumes coming from fashion sales and the largest value coming from mobiles. [30] In 2014, Flipkart invested in Ngpay to strengthen the mobile payment services since there was an increased focus on mobile ecommerce; Flipkart reported that mobile ...
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.
In December 2020, Flipkart and PhonePe declared a partial split, with Walmart maintaining its majority ownership in PhonePe and the two entities now functioning independently. [ 22 ] PhonePe announced the acquisition of $350 million from General Atlantic, a US growth equity firm, at a pre-money valuation of $12 billion. [ 23 ]
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]
Myntra continues to operate as a standalone brand under Flipkart's ownership, focusing primarily on "fashion-conscious" consumers. [14] In 2014, Myntra's portfolio included about 1,50,000 products of over 1,000 brands, with a distribution area of around 9,000 pincodes in India. [15]
Xolo offers Android smartphones in the series: Era, Black, Q, Omega and Play. The company sells its devices only via online marketplaces/ e-commerce websites such as Snapdeal, Flipkart and Amazon [citation needed]. Era series handsets are priced from INR 5,000 to 10,000, whereas Black series ones are priced above Rs. 10,000. [citation needed]
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