Sachin bansal flipkart biography of abraham
•
Finally, there’s one thing that Amazon, Flipkart and Snapdeal agree on
By Flipkart executive chairmanSachin Bansal’s own acknowledgement, it was the first time that India’s biggest e-commerce companies came together on one platform.
On February 9, at New Delhi’s Federation House – the headquarters of industry body FICCI – the founders of Flipkart and Snapdeal, along with the India head of Amazon, came together for a common cause: to ask the Indian government to remove a clause in the much-awaited goods and service tax.
The Narendra Modi government has proposed tax collection at source, a new framework under the GST, to tax sellers on internet marketplaces. Under the clause, e-commerce marketplaces must deduct 2% of the amount payable to the supplier of the goods or services and, deposit that with the government. The idea is to ensure that sellers don’t avoid their taxes.
“We are estimating that close to Rs 400 crore of capital per annum will be locked up in the system, which wil
•
Meet bank manager’s son with net worth Rs 11500 crore who founded Rs 2,87,000 crore firm
Walmart’s stake in Flipkart has reportedly risen to around 80 percent. According to regulatory filings in Singapore, the company’s co-founder Binny Bansal and other minor stakeholders sold their shares to the American giant.
ET reported that Bansal would have earned 650 million dollars (Rs 5347 crore) in the current secondary transaction. Flipkart is valued at 35 billion dollars.
In December 2021, Flipkart raised 3.6 billion dollars. At that time, Bansal had sold part of his stake for around 250 million dollars. He was left with just 2 percent stake.
Binny Bansal’s co-founder Sachin Bansal sold his entire 5 percent stake in Flipkart to Walmart for 1 billion dollars.
Investment firms, Tiger Global and Accel Partners, have sold their holding of 5 percent to the American giant.
Tiger Global gained 3.5 billion dollars on its Flipkart invested, reported ET.
Binny Bansal is an
•
Flipkart co-founder Sachin Bansal invests Rs 150 crore in Ola, säga reports
Flipkart co-founder Sachin Bansal has invested Rs 150 crore in cab-hailing company Ola, reports said on Tuesday. The development – which has not been confirmed by Bansal or Ola – comes after his departure from Flipkart in August after United States multinational retailer Walmart acquired 77% stake in the e-commerce platform for nearly $16 billion (Rs 1.07 lakh crore) in August 2018.
Bansal bought 70,588 preference shares in Ola’s parent firm ANI Technologies on January 12, Business Standard reported, citing documents filed with the Registrar of Companies. The documents have been sourced from data intelligence firm PaperVC.
Ola founder Bhavish Aggarwal is embroiled in a tussle with its largest shareholder SoftBank. The cab-hailing firm had recently received $74 million (approximately Rs 524 crore) from its current stakeholder Steadview Capital.
Reports said Bansal is likely to invest more funds in the