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On 4 May 2018, it was reported that Walmart had won a bidding war with Amazon to acquire a majority stake in Flipkart for US$15 billion. [91] [92] On 9 May 2018, Walmart officially announced its intent to acquire a 77% controlling stake in Flipkart for US$16 billion. [93] Following the purchase, Flipkart co-founder Sachin Bansal left the company.
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 ...
In 2013, Cyber Monday online sales grew by 18% over the previous year, hitting a record $1.73 billion, with an average order value of $128. [150] In 2014, Cyber Monday was the busiest day of the year with sales exceeding $2 billion in desktop online spending, up 17% from the previous year. [151]
In December 2023, a Flipkart spokesperson confirmed that Walmart was set to infuse $600 mln in the company as part of a $1 billion round. Flipkart has been a source of IPO speculation since ...
(Reuters) -Apple Inc has assembled $14 billion worth of iPhones in India in fiscal 2024, Bloomberg News reported on Wednesday. Apple now makes as much as 14% or about 1 in 7 of its marquee devices ...
The outbound shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion in the 12 months through March 2023, almost double when compared to the year ...