Free Press Journal
  • $16-bn Walmart-Flipkart deal: No tax deducted from 34 shareholders

    New Delhi : US retail giant Walmart paid Rs 7,439 crore tax on payments it made to buy out shares of 10 major shareholders of Flipkart but has not yet done so for another 34 who exited the Indian e-commerce company in the $16 billion deal, tax officials said.

  • Flipkart deal may squeeze Walmart income this fiscal

    Hyderabad : The acquisition of Flipkart by Walmart may negatively impact the net income of the latter this fiscal and also the next, said Walmart in its recent regulatory filing. The giant had completed the 77 per cent stake purchase in Flipkart Group for approximately $16 billion. “We also expect the ongoing operations of Flipkart to negatively impact fiscal 2019 and 2020 net income, including additional interest expense due to the long-term

  • Flipkart acquires AI startup

    Mumbai: Flipkart on Tuesday acquired Bengaluru-based artificial intelligence startup to roll out voice-based shopping on its platform to compete with rival Amazon’s Alexa.

  • Your Dream Purchase is Now Within Reach With Flipkart EMIs on Debit Card

    Have you ever postponed purchasing a major household item because you didn’t have enough cash in hand or couldn’t figure out EMIs with a credit card? Well, you are not the only one. Not everybody has the means to make a purchase on the spot with hard cold cash and most EMI schemes are possible only with personal loans and credit cards. That’s probably one reason you had to skip over the 42-inch LED

  • Flipkart shuts eBay India operations; to launch new site

    Bengaluru: Leading e-tailer Flipkart on Tuesday shut its eBay India operations, three months after US retail giant Walmart bought a 77 per cent stake in it for $16 billion. Announcing the end of its operations, the eBay India website read: “Sorry, you can no longer transact on But not to worry, Flipkart will introduce a brand-new shopping experience soon.”

  • SoftBank net jumps 49% on Flipkart, ARM stake sales

    New Delhi : Japanese conglomerate SoftBank Group on Monday said its operating profit has jumped over 49 per cent in the June quarter, helped by its sale of shares in Indian e-commerce firm Flipkart.

  • Five most innovative Indian platforms of 2018

    New Delhi: With platforms like Paytm, Zomato and Flipkart, the Indian startups community has gained a lot of global recognition and accolades for their unique innovation and technology. Here is a list of five new Indian brands which are reaching new milestones every day with their unique approach and concept:

  • Flipkart deal in line with FDI policy: Walmart

    New Delhi : US retail giant Walmart on Monday defended its move to acquire Flipkart, saying it is in line with the government’s FDI policy, amid protests by traders against the deal.

  • walmart flipkart deal

    Flipkart deal in line with govt’s FDI policy: Walmart

    New Delhi: US retail giant Walmart today defended its move to acquire Flipkart, saying it is in line with the government’s FDI policy, amid protests by traders against the deal.

  • Paytm gets $445 mn fund from SoftBank, Alibaba

    New Delhi : Paytm Mall has received the final tranche of its $445 million (about Rs 3,000 crore) funding from SoftBank and Alibaba, a move that will give the online shopping venture of Paytm more financial muscle to take on giants like Flipkart and Amazon.

  • I-T to vet Flipkart-Walmart deal after it gets approval

    New Delhi : E-commerce major Flipkart has shared ‘some details’ with the I-T authorities on its $16 billion deal with US-based Walmart, but the tax department will act only after regulatory approvals have been obtained, an official said.

  • SoftBank agrees to sell entire stake in Flipkart for $4 bn

    New Delhi : Japan’s SoftBank has decided to sell its over 20 per cent stake in e-commerce major Flipkart to US retailer Walmart for about $4 billion. “SoftBank confirms the sale of its entire stake in Flipkart to Walmart,” a SoftBank spokesperson said.