Bentonville, Arkansas-based Walmart's two acquisitions in India -- e-commerce firm Flipkart and digital payments firm PhonePe -- have emerged stronger with the adoption of digital technologies during the coronavirus health crisis in India. The company also operates a small chain of "wholesale stores" in India, which sell to the retail...
Flipkart, Amazon Report $4.3 Billion in Festive Sales in India
During the 15-day festival period of Diwali in October, India’s top two web retailers Flipkart (in which Walmart is a majority stake holder), and Amazon clocked a combined sales figure of $4.3 billion. The festive sale period helps etailers shore up sales as this is when consumers plan large-value purchases...
Walmart Labs Acquires Two Tech Startups in India
Walmart Labs, the technology arm of Bentonville, Arkansas-headquartered Walmart, acquired two startups based in India to strengthen its customer service systems. Bangalore-based FloCare, a health tech firm, is one of them. It builds products and technologies that enables seniors to access affordable and scalable healthcare services. The company, co-founded by a...
Walmart India Adopts New Sales Strategy
Bentonville, Arkansas-based Walmart's plan to crack India's giant consumer market, compete with Amazon.com Inc., and Asia’s richest man, Mukesh Ambani of Reliance Industries -- who has announced plans to launch his own e-commerce initiative -- is to collaborate with the neighborhood stores. Twelve million neighborhood stores across India account for...
SoftBank Invests Over $200 Million in India's Online Grocer
Japan's SoftBank Group led an investment round of more than $200 million in New Delhi-based online grocery startup Grofers India through its Vision Fund. The series F funding saw participation from new investor, KTB of South Korea, and existing investors Tiger Global Management of New York and Sequoia Capital of...
In 2018 M&As Lead $100-Bn Plus Deals in India
2018 proved to be a robust year for mergers and acquisitions for Indian corporations. Powered by the Insolvency and Bankruptcy Code and an extremely competitive atmosphere in the mobile and e-commerce space, dealmaking crossed $100 billion for the first time ever. As the government pushed for resolutions, there was a...