Binny Bansal: Know all about Flipkart CEO who resigned after 'personal misconduct' probe
Business | November 13, 2018 20:37 ISTBinny borrowed money to pick the first ever book ordered on Flipkart and to deliver it.
Binny borrowed money to pick the first ever book ordered on Flipkart and to deliver it.
Bansal, who had stayed with the retailer with his other co-founder Sachin Bansal, is expected to leave the company with immediate effect.
On August 18 Walmart had informed that it has completed deal with Flipkart and holds 77 per cent stake in the Indian e-commerce major.
For this sale, Flipkart has partnered with SBI that will offer many benefits and discounts on credit cards. Other than this there will be debit card EMI offers, no cost EMI's, Bajaj FinServ and PhonePe cashback.
The Flipkart Festive Dhamaka Day Sale also gets 10 percent instant discount i.e. up to Rs 4000 per card, on the purchase of Rs 4,000 or more with Axis Bank Debit and credit cards.
"FY20 operating income is expected to decline by a low single digit percentage range, but is expected to increase by a low single digit percentage range when excluding Flipkart in both FY19 and FY20," Walmart said in a regulatory filing.
This translates into about 64 per cent year-on-year growth compared to USD 1.4 billion (around Rs 10,325 crore) generated in the 2017 edition.
You can easily access all the Big Billion Days sale offers and Amazon Great Indian Festival sale offers on www.amazon.in and www.flipkart.com.
Online channels will see around 42 per cent of the total business in smartphones, which will hog the limelight this festival season.
The company is also providing cashback to entice customers.
With flipkart's announcement of jobs, Amazon has announced 50,000 seasonal positions across the country to fulfill the increase demand during upcoming festive sale.
Touted to be the first, the insurance will be in cash payout option or free pick-up, service and drop convenience to customers.
Both Flipkart and Amazon are eyeing handsome business during the sale period and have now started to roll out some of the best deals that would be offered during the period.
Mobile phone companies have announced to slash their handset prices by up to 62 per cent for upcoming four day sale at e-commerce portal Flipkart starting October 11.
Walmart India is a wholly-owned subsidiary of US retail giant Walmart Stores.
For Flipkart Plus members, the online portal major is offering free shipping and priority customer care during the sale period.
Founded in 2015, Liv.ai is the first Indian firm to build speech-to-text APIs (Application Programming Interface) that enable low latency speech to text conversion in major Indian languages.
On Saturday, Walmart Inc. acquired approximately 77 per cent stake in e-commerce major Flipkart.
While Walmart now holds approximately 77 per cent of Flipkart, the remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp.
Flipkart's 'Big Freedom Sale' is offering great deals on smartphones. Popular low-budget smartphone Honor 7A in being offered Rs 3000 less.
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