With a new CEO, and 5 of its top execs gone, amidst a snipped valuation and a funding slowdown, and still a sign of profits to come, Flipkart, at least on the face of it, looks to be on the shaky ground.
Punit Soni, after a protracted period of speculation, has finally quit Flipkart. He’s sent a farewell mail to senior management to this effect, and Friday will be his last day at work. An OfficeChai source has seen a copy of the email.
Paytm’s tie up with Flipkart’s delivery arm is a pointer towards what the company’s priorities are going forward.
Flipkart’s VP of Seller Business & Ecosystem Manish Maheshwari has quit the company. Maheshwari had joined Flipkart 14 months ago and had been responsible for acquisition, enablement and growth of sellers that operate on its marketplace.
Flipkart CEO Sachin Bansal delivered an uncharacteristically brutal attack on Snapdeal and Paytm, but it ended up backfiring.
Mukesh Bansal and Ankit Nagori have teamed up and put in $5 million of their own money and will launch a startup in the area of healthcare, sports and fitness.
Sachin Bansal is a soft-spoken man. His words are usually measured, and his tone is usually conciliatory. But when Economic Times published reports claiming Flipkart might’ve been in sale talks with Amazon, the Flipkart cofounder was in no mood to play the nice guy. Tweeting right back at ET, he came up with this zinger.
India’s largest ecommerce retailer Flipkart has invested Rs. 338 crores into its own fashion arm Myntra according to the registrar of companies.
India’s crowded wallet space has a big new entrant. After many months of speculation, Flipkart has finally come up with its own digital wallet. Dubbed Flipkart Money, the wallet is being powered by FX Mart, a Punjab-based company that Flipkart had acquired last year.