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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]
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%).
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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 ...
Alphabet's Google will pick up a minority stake worth $350 million in Walmart-backed Flipkart, valuing the Indian e-commerce firm at $37 billion, a source with direct knowledge of the matter told ...
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]
If a holiday falls on a non-working day for the employee, the employee is not compensated. President Gloria Macapagal Arroyo signed Proclamation No. 1211 in January 2007 declaring Independence Day which falls on June 12 a working holiday, and the day before a non-working holiday – effectively moving the holiday. However rites organized by the ...
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