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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 ...
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%).
Singles' Day sales on Alibaba sites reach US$9.3 billion. [67] 2015 Milestone N/A Cyber Monday sales set a new record of $3 billion. [68] 2015 Major launch Online marketplace Pinterest enters the e-commerce scene by adding Buyable Pins, a feature that allows users to sell their pins to other users. [69] [70] [71] 2015 Milestone N/A
Big Bazaar Converting to Smart Bazaar at Avani Riverside Mall. In 2020, Big Bazaar was acquired by Reliance Retail, the retail division of the Reliance Industries, as part of a ₹24,713 crore ($3.36 billion) sale transaction of Future Group. However, the deal was called off on 23 April 2022 after FRL's creditors voted against going forward ...
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 ...
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.
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]
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 ...