The markdowns are flowing thick and fast for Flipkart. There’s a lot of noise out there painting a picture of doom and gloom. But should valuations cause so much consternation? Isn’t there a larger story waiting to be told? In the last few days I trawled through old reports, news stories and information available in…
Category: @NewsMatters Reposts
Morgan Stanley yet again slashes the value of Flipkart!
Flipkart’s valuation took another beating as a mutual fund managed by Morgan Stanley slashed the value of its Flipkart shares by 38.2%. The recent markdown pegged its valuation at $5.54 Bn. According to an ET report, Morgan Stanley, as of September 2016, has marked the value of its Flipkart shares at $52.13 per share, as…
Rs. 500 & 1000 Discontinued in India – PM Shri Narendra Modi
On the evening of 8th November 2016 at precisely 8.00 pm in the evening, Prime Minister of India Shri Narendra Modi made a surprise address to the nation. “Today the night of 8th November 2016, 12.00 p.m. midnight onwards, the Rs.500 and Rs. 1000 currency notes in circulation will be made void as a legal tender….
Ebay Lays Off Entire Product And Tech Team In India.
US-based e-commerce marketplace eBay has reportedly fired its entire product and tech team in India, except 15 officials, who might move to the US, according to a report by TechInAsia. While confirming the development, Latif Nathani, Managing Director, eBay India called it “benching” rather than “firing.” The fired officials were working out of eBay’s development…
2016 US election Unfolding! Congratulations Mr. President.
Congratulations Mr. President! 4… 5… 6…
10 Companies Own All The Food Brands in the World
Just when you think there’s no end to the diversity of junk food lining supermarket aisles, an insanely detailed infographic comes along to set us all straight. Out of the hundreds of products at our disposal, only ten major corporations manufacture the bulk of what we toss in our shopping carts. So whether you’re looking…
Swiggy raises $15 million in Series D round led by Bessemer
The fresh infusion of funds is likely to help Swiggy to better compete with the likes of Zomato Media , Foodpanda India and Roadrunn Online food delivery start-up Swiggy, owned by Bundl Technologies Pvt. Ltd, has raised $15 million in a Series D round of funding from Bessemer Venture Partners and existing investors Accel Partners,…
Flipkart buys Jabong for $70 million
Flipkart-owned Myntra has agreed to acquire main competitor Jabong from Global Fashion Group for $70 million (Rs 470 crore) in cash to create India’s biggest fashion e-tailer, ending months of speculation and outbidding several potential suitors including Snapdeal. The deal will consolidate Flipkart’s position in the Indian e-commerce market and enable Jabong’s German backer Rocket…
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