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Flipkart raises US $1.4 bn, acquires eBay India

eBay Inc., a global commerce leader, and Flipkart, a leading eCommerce company in India, have agreed to jointly pursue e-commerce opportunities in the Indian market. In exchange for an equity stake in Flipkart, eBay will make a US $500 million...

Retrenchment in e-commerce industry not unique to India: Nirmala

Commerce and Industry Minister Nirmala Sitharaman has said corporate downsizing and retrenchment in the country's e-commerce industry were not unique phenomena happening in India but were occurring globally. The minister's comments came a day after major layoffs were announced by...

Snapdeal founders to take 100 pc pay cut, firm commences layoffs

E-commerce major Snapdeal on Wednesday reported that its founders have agreed to take a 100 per cent pay cut, even as the firm initiated a process to rationalise a part of its workforce to make the company profitable in...

Chinese to become world's top online shoppers

Chinese are more likely to shop online than consumers from any other country, according to the latest survey by the International Post Corporation, a Brussels-headquartered association on postal services. In the second annual study of 24,000 respondents in 26 markets...
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Toys“R”Us to open up to 50 stores in India in 3 years: Nitin Chhabra, Ace Turtle

The company plans to open 12 Toys“R”Us stores in 2024 and 100 in five years, as per Nitin Chhabra...
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