CloudMagic was incubated inside Webyog, which built tools for database management, and was spun off as a separate company in 2013.
CapFloat Financial Services Pvt. Ltd, which owns Capital Float, has held talks with South Africa’s Naspers.
Earlier this week, Barclays Plc said in a report that Amazon India recorded gross sales of $7.5 billion in the year ended March 2018, compared with Fl
The company is planning to raise funds over the next on year to aggressively grow its offline presence by opening more physical stores.
Juneja is currently a partner at Mumbai-based Norwest Venture Partners, and sits on the boards of startups such as Swiggy.
While Myntra has been growing fast, Jabong has struggled to expand sales this year.
With Flipkart’s umbilical cord with its founders truly severed, Flipkart is dependent at the senior level on Krishnamurthy.
Prior to the Walmart buyout, Flipkart had largely operated without the bureaucratic, process-driven trappings of a large listed company.
Until now, Myntra, while being a wholly owned unit of Flipkart, has operated completely independently.
Bansal said he would continue to hold his substantial stake in Flipkart and remain a member of its board.
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