Tag: flipkart

Govt. Permits 100% FDI In Only Marketplace Format Of E-Commerce

In order to attract more foreign investments, Department of Industrial Policy and Promotion on Tuesday has permitted 100 per cent Foreign Direct Investment in the market place format of e-commerce retailing. DIPP has also come out with definitions of ‘e-commerce’, ‘inventory-based model’ and ’market place model’, to bring out more clarity on which companies will be able to benefit out of the new permits.

Flipkart Launches Its Wallet ‘Flipkart Money’

The wallet will be powered by FX Mart which was acquired by Flipkart last year. The new method has been launched on Android smartphones. The wallet can be recharged through credit/debit card or net banking. The limit for one time recharge is Rs 10000 and a total of Rs 25,000 can be added by the users in a month.

Flipkart Founders Net Worth? $1.4Bn..Each!

Mukesh Ambani (US$26bn, rank 21) is the richest Indian. Average age of Indian billionaire is 64. Mumbai is headquarters to most of the billionaires. Manufacturing, Pharma and Tech are the preferred sectors with 22, 20 and 15 billionaires respectively. Totalwealth of billionaires shot up by 16% to US$308bn.

Flipkart To Shut Its Grocery Delivery App Nearby

Flipkart will shut its groceries delivery app Nearby which was launched four months back. It was an experiment and thus no marketing was done by the e-commerce firm. Lack of customers and cost cutting are the two major reasons for shutting the app by end of this month.