This comes amidst an expensive market-share battle against rival Amazon India and a regulatory tussle with the government.
Amar Nagaram would lead the Myntra-Jabong business, while reporting directly to Flipkart CEO Kalyan Krishnamurthy.
From the heights of success and vindication to the depths of egregious ignominy, Flipkart saw it all this year.
Revised norms come against complaints by traders on deep discounts offered by Flipkart & Amazon
With this funding, Swiggy has become the fifth most valuable startup in the country, commanding a valuation of $3.3 billion after the funding
With its mammoth $540-million funding at a valuation of $3.6 billion, Byju’s has entered the top tier of the club of Indian unicorns becoming the fourth-most valued startup in the country.
The investment effectively signals Ola’s entry into the bike-sharing space.
CPPIB and private equity giant General Atlantic participated in the round that ended up being much larger than earlier anticipated.
Over the past few weeks and months, massive changes have taken place at Flipkart, most notably the exit of Flipkart co-founder Binny Bansal. Since Bansal’s exit, Flipkart’s current chief executive Kalyan Krishnamurthy is the undisputed leader at the online retailer, with Myntra and Jabong now reporting into him. In a… Read more »
Myntra chief revenue officer Mithun Sundar and human resources head Manpreet Ratia, who also oversaw operations, supply chain and customer experience, are also said to have resigned.