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In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. [7]
In 2017, he assumed the role of CEO of Flipkart Group and his previous position was handed to Kalyan Krishnamurthy. [17] In 2018, Walmart acquired a 77% stake in the Flipkart Group. After the acquisition, Binny Bansal assumed the role of chairman and continued as Group CEO. [18] His 5.5% stake in Flipkart was valued at $1 billion after the ...
During his tenure as the COO of Flipkart, he also assumed control of Flipkart's in-house logistics arm Ekart. [6] In May 2017, Seth resigned from the company, [7] citing personal reasons, as reported by The Economic Times. [6] Later, in July 2017, he served a legal notice to Flipkart, calling "his removal was illegal". [8]
Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company.The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.
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Myntra continues to operate as a standalone brand under Flipkart's ownership, focusing primarily on "fashion-conscious" consumers. [14] In 2014, Myntra's portfolio included about 1,50,000 products of over 1,000 brands, with a distribution area of around 9,000 pincodes in India. [15]
Ekart logistics or Ekart courier is an Indian courier delivery services company, headquartered in Bangalore, Karnataka. [1] [4] A subsidiary of electronic commerce company Flipkart Pvt. Ltd., it is run by Instakart services Pvt. Ltd. [5] [6]
The chief executive officer of Myntra, a unit of Walmart Inc-owned Flipkart, has resigned and a Flipkart executive has been tasked with heading the online fashion retailer, Mint newspaper reported ...