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Binny Bansal

Retail

Tiger Fund increases equity stake in Flipkart

IANS -
The US-based hedge fund, Tiger Fund, increased its equity holding in India's leading etailer Flipkart by buying 54,596 shares of its co-founder Binny Bansal for an estimated US $14.5 million (Rs 104 crore), business intelligence platform Paper.vc said on...
Retail

Flipkart co-founder sells part stake to Walmart for Rs 531 cr

IANS -
Binny Bansal, the Co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at US $76 million (Rs 531 crore) to world's retail giant Walmart's Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc...
Retail

Flipkart rejigs leadership team, appoints Sriram Venkataraman as COO

Indiaretailing Bureau -
Walmart-backed Flipkart has rejigged its senior leadership team, including appointment of Sriram Venkataraman as chief operating officer (COO). According to a PTI report: Venkataraman, who is currently the Chief Financial Officer at Flipkart, is assuming the additional role as COO,...
Retail

Binny Bansal resigns as Flipkart CEO

IANS -
Flipkart Group Chief Executive Officer (CEO) Binny Bansal resigned on Tuesday over an alleged 'serious personal misconduct', the company said. "Bansal's decision to quit came after an independent investigation done on behalf of Flipkart and Walmart into an allegation of...
Retail

Flipkart, Amazon in festive sale slugfest, each claims bigger share than other

Indiaretailing Bureau -
The face-off between the two e-commerce giants Flipkart and Amazon continues with the Walmart-backed company claiming it doesn't see much relevance for Indian users from the competitor, and Amazon contending that it remains the 'most visited and transacted' e-tailing...
Retail

Walmart acquires 77 percent stake in Flipkart Group

IANS -
Retail giant Walmart Inc. on Saturday acquired approximately 77 percent stake in e-commerce major Flipkart. According to a statement, Walmart now holds approximately 77 percent of Flipkart, while the remainder of the business is held by other shareholders, including Flipkart...
Retail

Flipkart-Walmart deal: Tax department plans this to ascertain tax liability

Indiaretailing Bureau -
The tax department will seek share purchase agreement from Flipkart on the mega US $16 billion buyout by US retail giant Walmart to assess the tax liability and also to find out whether the GAAR provisions can be invoked,...
Retail

Walmart CEO Doug McMillon on how Flipkart-Walmart deal will benefit consumers

Indiaretailing Bureau -
World’s largest retailer Walmart Inc has tried to assuage concerns around its US $16 billion takeover of Flipkart, saying the deal is good for the country as it will help create millions of jobs over time and help the...
Retail

Sachin Bansal posts emotional farewell message on Facebook, wants to get back to basics

Indiaretailing Bureau -
Flipkart co-founder Sachin Bansal, who is exiting the Bengaluru-based company post the Walmart deal, plans to catch up on gaming and brush up his coding skills as he takes time off to finish few pending personal projects. According to a...
Retail

Really sad to see Sachin leave Flipkart, says co-founder Binny Bansal

Indiaretailing Bureau -
They were considered the Jai-Veeru of Indian startup panorama, and when one decided to finally exit the company they founded 11 years ago it was really a sad moment for the other. According to a PTI report: Sachin Bansal's decision...
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