Flipkart

Flipkart has finally launched its customer loyalty programme Flipkart Plus, which is a no-fee membership programme

Flipkart is further working to help consumers in getting rid of their old appliances through the Perfect Buy Store

Perfect Buy Store does offer an in-depth look at all the specifications and key features

Flipkart said that these rates would be effective from August 17

The ecommerce company has also lowered its fixed fee, which a seller usually has to pay per order

For laptop bags, Flipkart has cut the commission it charges its sellers to 4% from 13%, and for mobile holders, to 17% from 30%

Amazon earlier committed $5 Bn to its Indian business and $500 Mn to its food retail business in India

Citi Research estimates that Amazon India currently holds the second place in Indian ecommerce with about $5 Bn in GMV

Amazon also invested $33.5 Mn (INR 230 Cr) in its digital payments arm Amazon Pay

• The Walmart-Flipkart deal is expected to generate $1.5-2 Bn tax revenue for the Indian government
• Walmart has assured that it will comply with all the tax obligations related to the deal
• Traders’ body CAIT will appeal to the Supreme Court against the deal

Sachin Bansal believes dual-class shares could help in creating the next Tata or Reliance without diluting control

Bansal cited the example of China and the US, where a dual-class voting structure has helped create better companies

In most major Indian startups, the majority stake is owned by foreign investors, leaving little power in the hands of founders

Flipkart Supermart is currently operational in all major pin codes of Bengaluru

Flipkart will expand its online grocery operations first to Hyderabad, followed by Chennai, Mumbai, Delhi-NCR, and Pune

The announcement comes soon after the CCI approved the Walmart-Flipkart deal

The latest funding takes the total infusion in PhonePe by Flipkart to $184.1 Mn

The investment is a part of Flipkart's commitment of $500 Mn to PhonePe in October 2017

PhonePe announced that it crossed 100 Mn transactions in July

SoftBank Group Corp posted a 49% increase in its first quarter operating profit

SoftBank gains were led by the sale of its Flipkart shares to Walmart for about $4 Bn

As part of Flipkart stake sale, SoftBank said it expects deferred tax of $645K (¥71,746 Mn)

• Flipkart aims to strengthen its top management with new hiring
• The five VPs will be looking after functions such as fashion, corporate strategy, engineering, risk management, shared technology, and services group
• Ecommerce platform Flipkart had 14 SVPs in 2015

Walmart is looking at expanding its headcount and driving more product ownership in India

The company doesn’t want to be the largest technology spender but wants to make sure that it spends on the right tech

Walmart's IT spend is about $10 Bn a year, making it among the world’s largest spenders on technology

Sources revealed that sales stopped a year ago

Flipkart had earlier reduced its dependency on WS Retail

DIPP had introduced new FDI rules where ecommerce company cannot allow more than 25% sales from one vendor

• Sachin will be selling his entire 5.5% stake in Flipkart to raise more funds
• Sachin had exited Flipkart in May 2018
• The new fund aims to invest in tech startups