Walmart, a multinational retail corporation, announced it has invested $560 million in Flipkart as part of its $1.2 billion round announced in July, according to the regulatory filings made in Singapore show. The news was first reported by Entrackr. According to the filings, Walmart had been allotted 39,57,960 equity shares in Flipkart’s Singapore unit at…
Indian e-commerce giant Flipkart recently said that it is raising $1.2bn in funding led by majority owner Walmart Inc. The investment, also funded by other existing shareholders, values Flipkart at $24.9 billion, and comes two years after U.S. retail giant Walmart bought the company from its founder for $16bn acquiring more than 70% stake. Flipkart…
Retail giant Walmart’s tech arm Walmart Labs is reportedly planning to hire about 2,800 employees in India this year. According to a report by the Times Of India, the company will hire around 800 employees for operations in Chennai and another 2000 employees will be hired for joining the Bengaluru center. In Chennai, where it…
Walmart India, the Indian business arm of the American multinational retail corporation, has appointed Sameer Aggarwal as its Deputy CEO. In a media statement, a company spokesperson said, “Sameer Aggarwal has been appointed Deputy Chief Executive Officer, Walmart India effective 1st January 2020. He will continue reporting to Krish Iyer, President and CEO Walmart India,…
It is learnt that US retail major Walmart has announced some top level changes for their India operations. These changes include the exit of Raj Jain as President for Walmart India Operations. Ramnik Narsey, presently Senior Vice-President for Walmart International would take over as President in the interim. The announcement were communicated today morning…