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Posts Tagged ‘ Flipkart ’

Quikr’s FY16 loss widens; other income props up revenue

Friday, December 2, 2016 | More »

Quikr
Online classifieds site Quikr India Pvt. Ltd posted a wider loss for the year through March 2016, but the pace of increase slowed sharply as it controlled its expenses after expanding at a breakneck pace in previous years. Net loss for 2015-16 expanded to Rs 534 crore from Rs 446 crore the year befo...

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Flipkart suffers another markdown as Vanguard slashes stake value by 33%

A mutual fund managed by US-based investment firm Vanguard Group has marked down the value of its stake in Flipkart by 33%, joining another investor Morgan Stanley in cutting India’s largest e-commerce marketplace’s valuation to historically low figures. The fresh markdown by Vanguard values Fli...

2 December, 2016 | More »

Kunal Bahl and Rohit Bansal

How much stake founders Kunal Bahl, Rohit Bansal own in Snapdeal?

Snapdeal founders Rohit Bansal and Kunal Bahl together own just 6.38% of the e-commerce firm, a fourth lower than what they held in the company two years ago. CEO Bahl owns 3.94% of Snapdeal while chief operating officer Bansal holds 2.44%, according to a report by Mint on Friday, citing documents w...

2 December, 2016 | More »

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Myntra targets $2 bn revenue run rate, profitability in FY18

Flipkart-owned online fashion retailer Myntra said the company has crossed $1 billion in annualised run rate riding on an impressive 80% year-on-year growth, thanks to the $70 million acquisition of Rocket Internet-backed rival Jabong and the peak selling festive season sale events. “This year has...

1 December, 2016 | More »

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Aerospace startup Team Indus signs launch contract with ISRO

Bengaluru-based aerospace startup Team Indus has signed a contract with the Indian Space Research Organisation (ISRO) to launch a spacecraft that will attempt to land on the moon as part of its bid to win the Google Lunar XPRIZE. Team Indus, incorporated as Axiom Research Labs Pvt Ltd, is the only I...

1 December, 2016 | More »

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Amazon India introduces in-house private fashion label Myx

E-commerce giant Amazon India has launched its second in-house private fashion label, ethnic wear brand for women Myx, as it looks to grow its apparel offerings. The development was reported by The Economic Times, citing Arun Sirdeshmukh, Amazon India’s fashion head. An email query to Amazon India...

1 December, 2016 | More »

Peeyush Ranjan

Flipkart’s woes continue; two more top-level exits amid unending markdowns

In what is proving to be a year of top-level exits and big markdowns, Flipkart Internet Pvt Ltd has lost another top executive—its former chief technology officer this time, after resignations of the chief financial officer and chief product officer, early this year. A Flipkart spokesperson confir...

30 November, 2016 | More »

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Flipkart’s valuation down to $5.57 bn after Morgan Stanley slashes value of its holding

A mutual fund managed by Morgan Stanley has marked down the value of its shares in Flipkart by 38.2% leaving India’s largest e-commerce marketplace’s valuation at $5.57 billion, nearly a third of its peak valuation of $15.2 billion last year. The fund has slashed the value of its Flipkart shares...

29 November, 2016 | More »

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Flipkart, Amazon score closely on e-commerce rankings: RedSeer

Online e-commerce giants Amazon India and Flipkart were neck and neck in terms of ranking, with the latter a few points ahead in RedSeer Consulting’s E-tailing Leadership Index (ELI). On overall rankings for October 2016, Flipkart was placed at 97, while Amazon India came in at 94. Amazon India lo...

29 November, 2016 | More »

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Ajit Narayanan is the new CTO of Flipkart-owned Myntra

Bengaluru-based fashion e-tailer Myntra Designs Pvt Ltd’s chief technology and product officer Shamik Sharma has moved on to an advisory role and Ajit Narayanan has been appointed as the new CTO of the Flipkart-owned firm. Narayanan was formerly the head of engineering at the Mukesh Bansal-founded...

28 November, 2016 | More »

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