Manish Singh. Lightspeed-backed Udaan India’s richest man Mukesh Ambani’s JioMart, a brand new e-commerce enterprise between the nation’s largest retail chain (Reliance Retail) and telecom community (Reliance Jio Platforms), started restricted operations this April and has since expanded to over 200 cities and cities throughout India.Fb, which invested $5.7 billion in Reliance Jio Platforms earlier this yr, mentioned the 2 firms will discover methods to serve the nation’s 60 million small and medium sized companies.“These small businesses are critical to the Indian economy. Rajneesh Kumar, chief corporate affairs officer at Flipkart, told TechCrunch that the company was evaluating the … @TechCrunch: Walmart confirms $16B Flipkart investment, giving it 77% in India’s e-commerce leader https://t.co/FxkBsD0kaR Earlier this month, Walmart, which acquired a majority stake in Flipkart for $16 billion in 2018, led a $1.2 billion financing spherical within the Indian e-commerce agency earlier this month to extend its majority stake of 77% to greater than 82%.Flipkart Wholesale, which will likely be operational beginning subsequent month, will use the e-commerce big’s current huge provide chain infrastructure and provide an “exhaustive” vary of merchandise and merchandise, in addition to simple credit score choices and alternatives for extra earnings technology to neighborhood shops (domestically referred to as kiranas) and different small companies, the corporate mentioned, including it would additionally assist these companies with insights in order that they will plan their stock wants extra successfully.Kalyan Krishnamurthy, chief govt of Flipkart Group, mentioned the acquisition of Walmart India “adds a strong talent pool with deep expertise in the wholesale business that will strengthen our position to address the needs of kiranas and MSMEs uniquely.
TechCrunch. The brand new equity round headed by Walmart, that gained
Walmart’s Flipkart rolls out voice assistant to make shopping easier Jun 09, 2020 Manish Singh Flipkart is rolling out a voice assistant feature to its platform to make it easier for consumers to shop as the Walmart-owned e-commerce giant looks to expand its reach in the nation.
@TechCrunch: Flipkart buys Walmart's India wholesale business to reach mom and pop https://t.co/4EOhk5ZP92 by @refsrc A bunch of other existing investors participated in the new funding round, a Flipkart spokesperson informed TechCrunch but failed to identify them separately.“We’re thankful for the powerful backing of our customers as we continue to construct our platform and also serve the growing needs of Indian customers during these tough times,” explained Flipkart chief executive Kalyan Krishnamurthy at a statement.“Considering that Walmart’s first investment in Flipkart, we’ve expanded our supply through technologies, partnerships and services that are new.
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