“Idea of cash on delivery was a major innovation”
“CoD opened up a larger customer base for us than before. Another defining moment was getting the SEO right we were getting customers for free, but our cost of marketing was zero!”
“CoD opened up a larger customer base for us than before. Another defining moment was getting the SEO right we were getting customers for free, but our cost of marketing was zero!”
The co-founder of Flipkart is one of the most active startup investors in the country today. Bansal has invested in about 47 companies, including Unacademy and Ather Energy.
The Flipkart co-founder led the Series B funding round into the company, which is backed by Jungle Ventures and Sistema Asia Fund.
When Walmart acquired Flipkart in May, employees at the e-tailer took comfort that at least one of the founders was around to take them through the transition. That hope has vanished.
Walmart says that Bansal had been contemplating a transition for some time and a succession plan is being worked on.
Biggest ever acquisition is set to pull down operating income and earnings per share till FY20; but management gung-ho about success in the long run.
While many feel Walmart is paying too high a price, at $16 billion, for a majority stake in Flipkart, the US retail giant sees immense potential, especially since rival Amazon grew very fast in India.
Walmart’s acquisition of Flipkart will seriously challenge horizontal players as the two giants have a massive war chest.
Through the Flipkart acquisition, Doug McMillon caters to both his priorities: developing e-commerce capabilities and enhancing engagement in the emerging market of India.
The deal values the country’s largest e-commerce company at $20 billion