Who is owner of Flipkart now?
Who is the CEO of Flipkart in 2020?
Change of positions in Flipkart, Binny Bansal new CEO, Sachin Bansal, Executive Chairman. Flipkart, the biggest e-commerce company of India is going to have management changes, as Binny Bansal, chief executive and co-founder of Flipkart will be the new Chief Executive Officer of the company.
Who is the owner of Flipkart India?
Binny BansalIndian billionaire Binny Bansal , is an internet entrepreneur who co-founded Flipkart along with Sachin Bansal in 2007 and stayed with the company until 2018 when Walmart bought it over.
Who invested in Flipkart?
WalmartUS-based retailer Walmart acquired a controlling stake in Flipkart in a hefty $16-billion deal in 2018, valuing the Bengaluru-based firm at $21 billion. Walmart on Tuesday infused $1.2 billion into its Indian subsidiary, Flipkart Group, which gives the e-commerce major a post-money valuation of $24.9 billion.
Did flipkart buy Walmart?
Flipkart Group, on Thursday, announced the acquisition of Walmart India and launch a new digital marketplace – Flipkart Wholesale to tap into the retail market in India. The e-commerce platform has acquired a 100 percent stake in Walmart India, which operates the Best Price cash-and-carry business.
Why did Flipkart sold to Walmart?
Walmart said in a media release that Flipkart will leverage Walmart’s diverse retail expertise, merchandise supply-chain knowledge and financial strength, while Flipkart’s “talent, technology, customer insights and agile and innovative culture” will benefit Walmart.