Wal-Mart is investing $ 2 billion with $ 2 billion investment in India's largest e-commerce company for 60 percent of its current stake in the company for about $ 14 billion.
Ten years later, Flipkart crossed 100-million registered users mark (today, it has over one lakh registered sellers and 21 warehouses), while Walmart India opened its first Fulfillment Centre, in Mumbai in 2017. Its latest acquisition thus pits the veteran brick-and-mortar retailer directly in opposition to arch-rival and global online retailer Amazon, both in India and overseas. "We believe there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India's diverse, domestic market", the company stated.
India's very own whizkids, Sachin Bansal and Binny Bansal have turned billionaires after selling their stake in India's top e-retailer Flipkart to United States retail giant Walmart in a transaction dubbed as world's largest e-commerce deal valued at $16 bn.
With platforms such as Myntra, Jabong and PhonePe, Flipkart will leverage its integrated ecosystem of localised service, customer insights and an efficient supply chain through its eKart supply chain arm, which operates in 800 cities, making 5,00,000 deliveries daily.
The firm also said it would pursue other growth opportunities when they arise.
New Sharpsburg mayor arrested on DWI charges Williams, who was the tri-county town's appointed mayor from 2011-2013, defeated incumbent Randy Weaver in a do-over election. Williams' arrest occurred about an hour after polls had closed, and he was elected mayor of Sharpsburg, according to WNCN.
While Tencent and Tiger Global will continue on the Flipkart board, there will be newer members of Walmart who will join as part of the acquisition. Before Flipkart started. We met in 2005 when we were passing out from IIT-Delhi. We are confident this group will provide Flipkart with enhanced strategic and competitive advantage. That joint venture was called off in 2013 and its presence in India has remained largely static, at least partly due to restrictions around foreign investment in physical retail. "The remainder of the business will be held by some of Flipkart's existing shareholders, including Flipkart co-founder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp", Walmart issued an official statement.
Harms and deputy chief Steven Thompson grabbed the man's arm, pulled him out of the vehicle and dragged him away from the auto . Investigators believe the man fell asleep with his foot on the gas pedal, causing the auto to overheat and catch fire.
Danick Martel scored in the 1st period for the Phantoms, and Patrick Brown scored in the 2nd period for the Checkers. Adds that Krushelnyski is son of former National Hockey League player Mike Krushelnyski.
The Syrian Observatory monitoring group, which tracks the conflict, said that attack killed 15 people, including eight Iranians. Russia's support for the Assad regime in Syria and its relationship with Tehran present worrying possibilities for Israel.
This makes sense, as the Lakers have one of the best young foundations in basketball that can help James make a title push. Seemingly, Cleveland's Eastern finals opponent would be Boston, which holds a commanding 3-1 lead against Philadelphia.
Twelve people died and 11 were injured as a thunderstorm hit parts of Uttar Pradesh on Wednesday evening, reported PTI . The Regional Met office in Lucknow has predicted more such storms in the next 24 hours.
A Zurich University study several years ago said most Swiss want autonomy when making end-of-life decisions. Despite his happiness in being able to end his life on his own terms, Goodall expressed regret.
It said Pakistan believes that International Treaties and Agreements concluded through painstaking negotiations are sacrosanct. FO says arbitrarily rescinding such agreements will undermine confidence in the value of dialogue and diplomacy.
Google will conduct tests of the Duplex Assistant in the summer, but they have big plans for it to automate annoying tasks. This voice could be used to interact with the Assistant in smartphones, Google Home, Android Auto and Android TV.
Since Trump's announcement, Guatemala and Paraguay have said they too will move their embassies to the capital. The worldwide community considers the annexation illegal and considers east Jerusalem as occupied territory.
Will Cristiano Ronaldo play UCL FINAL 2018?
The chance to play for such a massive club in a league he's familiar with would also surely appeal to the Selecao sensation. So, the latest from Real Madrid club is that Ronaldo will be fit for the final of UEFA 2018.
Neymar's Secret Meeting With Real Madrid Revealed?
But president Florentino Perez is unhappy with the club's relinquishing of the league title to arch-rivals Barcelona. He is ready to invest £227 million for Neymar - bettering his previous record by a good £27 million.
BKS Advisors LLC Reduces Stake in Nvidia (NVDA)
The stock now shows its YTD (Year to Date) performance of 28.52 percent, whereas its Weekly performance stands at 10.57%. Following the transaction, the director now directly owns 30,762 shares of the company's stock, valued at $7,011,582.66.
Kerala DHSE Plus Two results Available Now @www
The candidates can check their exam results on keralaresults .nic.in, dhsekerala.gov.in and kerala.nic.in official board websites. Among districts, Kannur has topped in pass percentage, while the Pathanamthitta district has the lowest pass percentage.
Bill Gates says he'd bet against Bitcoin
Bitcoin, meanwhile, has tested the $10,000 mark on the charts and has briefly dipped down to the $9,300 mark. Just last week, Warren Buffet and Charlie Munger expressed their hatred towards cryptocurrencies .
DeKalb County Police honor fallen officers
Concerns of Police Survivors, the Fraternal Order of Police and the Fraternal Order of Police Auxiliary. Next week marks National Police Week, and similar ceremonies have been taking place across Georgia.