Digital payments major PhonePe has received another fresh infusion of $100 million from existing backer General Atlantic and its affiliate funds as part of its $1 billion primary funding, according to ET report. The new tranche has been raised at a $12 billion pre-money valuation, just as in the previous tranches. With this, the digital…
Google Cloud and e-commerce company Flipkart have entered into a multi-year strategic partnership to help fast-track Flipkart’s innovation and cloud strategy. This partnership will propel Flipkart into its next phase of growth and advance its vision of onboarding India’s next 200 million shoppers and lakhs of sellers, a statement said. Working together, Google Cloud will help Flipkart:…
India’s e-commerce major, Flipkart, has raised $3.6 billion in a fresh round of funding. The round was led by Canada Pension Plan Investment Board (CPP Investments), Singapore government’s sovereign wealth fund GIC, SoftBank Vision Fund 2 and Walmart along with participation from existing backers like Qatar Investment Authority, post which the company has now been…
Flipkart, India’s homegrown e-commerce marketplace, in the past three months, over March – May 2021, has hired 23,000 people across the country in various capacities across its supply chain, including delivery executives. “At Flipkart, our top priority is to meet the needs of consumers through a safe and robust supply chain while ensuring the safety…
Ajay Gondhiya’s proven expertise and maturity made him the ideal candidate to partner with the Hopscotch leadership and further its technology driven ambition, according to a statement made by the company. As a Senior Director at Flipkart, Ajay led supply side engineering charter initiatives, spearheading BrandAdvantage and robotic sortation capabilities, that fueled Flipkart’s growth. In…
Flipkart, India’s homegrown e-commerce marketplace has announced the proposed acquisition of Cleartrip, an online travel technology company. Flipkart will acquire 100% of Cleartrip’s shareholding, as the company further enhances its investments to strengthen its digital commerce offerings for customers. Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart. Cleartrip will continue…
Flipkart, India’s leading homegrown e-commerce marketplace, announced a strategic and commercial partnership with the Adani Group, India’s largest multinational infrastructure company. In this two-pronged partnership, Flipkart will work with Adani Logistics Limited, the largest diversified end-to-end logistics service provider in the country and a wholly owned subsidiary of Adani Ports & Special Economic Zone Limited,…
Flipkart, India’s homegrown e-commerce marketplace, has announced that it has partnered with Mahindra Logistics Limited (MLL) as one of its key logistics partners to help fast track deployment of electric vehicles across its logistics fleet in the country. Flipkart has committed to 100% electric mobility in its logistics fleet andwill deploy more than 25,000 electric…
Flipkart announced key changes to its leadership team. According to an internal letter sent to Flipkart’s employees by Group CEO Kalyan Krishnamurthy on Monday, Flipkart has appointed former Unilever veteran Hemant Badri as Senior Vice President of its supply chain operations, effective March 1, 2021. Most recently, Badri was the Global Vice President of Planning,…
Flipkart has appointed Saroj Panigrahi, former head of JP Morgan’s legal department in India, as its senior vice president and general counsel. Bijoya Roy, who has led Flipkart’s legal operations since January 2019 will transition to the role of vice president and head of legal at the company and will report into Panigrahi, CEO Kalyan…
Flipkart has reshuffled its board as it prepares to go public in the upcoming years. The Walmart-owned company has added Flipkart Group CEO Kalyan Krishnamurthy along with HDFC CEO and Vice Chairman Keki Mistry to the board. Walmart directors – Suresh Kumar, global CTO & Chief Development Officer with Leigh Hopkins, Executive Vice President of…
PhonePe has raised Rs 150 crore from Flipkart, a majority shareholder in the company, according to ET report. The equity allotment comes just days after PhonePe raised primary capital worth $700 million in a round led by Flipkart owner, US-based retailing behemoth Walmart, valuing the company at $5.5 billion. The Bengaluru-based startup’s Singapore holding company…
The Walmart owned company, Flipkart, has announced its plans to hire around 300 graduates. Around 80 of these recruitments will be done from the IITs where placements are currently going on.
E-commerce company, Flipkart, headquartered in Bangalore, has asked its employees to continue to work from home due to COVID-19 pandemic, till May 2021. According to an internal email sent by the company to its employees, the retail giant has decided to extend the phase two of the ‘back to office plan’ till the May of…
Flipkart, e-commerce marketplace, has announced a partial spin-off of PhonePe, digital payments platform. The development is made so that PhonePe can access dedicated capital to fund its long-term ambitions over the next three to four years. The partial spin-off also provides payments platform an opportunity to constitute a new Board of Directors focused on supporting…