Wanted Sachin to stay on: Binny Bansal

Walmart-Flipkart deal faces opposition from traders

"Following the close of the transaction, we also will be ending our current strategic relationship with Flipkart, which includes unwinding our commercial agreements with Flipkart and terminating Flipkart's license to use the eBay.in brand", said the company in a statement.

South African Internet and entertainment firm Naspers has sold its entire 11.18% stake in Indian e-commerce firm Flipkart to Walmart for $2.2 billion. Sachin Bansal earned an employee bonus for recommending Binny Bansal at Amazon, which Sachin had to return as Binny left Amazon in just 8 months, news agency Press Trust of India reported. Sachin and I go a long way.

While Binny chose to continue with the company, Sachin, 36, exited. "We were a group of 8 friends from IIT Delhi and we used to hang out together all the time and we were best of friends", said Binny recalling the Flipkart journey. Its latest acquisition thus pits the veteran brick-and-mortar retailer directly in opposition to arch-rival and global online retailer Amazon, both in India and overseas. The move will see a boost in funds for the Indian e-tailer which will work under Walmart to accelerate the USA retailers Indian business. As a company, we are transforming globally to meet and exceed the needs of customers and we look forward to working with Flipkart to grow in this critical market.

Meanwhile, Sachin Bansal himself bid adieu to his colleagues at Flipkart in an emotional post on Facebook saying: "Sadly my work here is done and after 10 years, it's time to hand over the baton and move on from Flipkart".

Peja Stojakovic now assistant general manager of Kings
The change in title expands Stojakovic's role since he joined the Kings' front office in 2015 under general manager Vlade Divac . Stojakovic, 40, retired from his playing career in 2011 after 13 seasons in the National Basketball Association .

'Aggressive' UF administrator on leave after graduation controversy
She said after attempting to perform a stroll move, she was blocked by officials and "aggressively pushed" off stage . The graduates were waving or strolling across the stage when they were rushed off.

Israel Orders Human Rights Watch Representative to Leave, Says He Urged Boycott
HRW said it supported Shakir. "Israel has ordered me deported after compiling 7-pg intel dossier on me", Shakir wrote. HRW said it "stands fully behind Shakir and has retained counsel to challenge the decision before an Israeli court".

For its India operations, the company's focus will be initially on cross-border trade, assisting domestic buyers and sellers to connect with global businesses on their platform. We took on some of the biggest challenges and solved many complex problems for India. He and I would ride on my bike 40-50 kms a day in Bangalore picking up books of various distributors, coming back packing them.

The company has since grown and crossed 100 million registered customers in 2016. At present, Flipkart CEO Kalyan Krishnamurthy is and he will remain in this role. In the fiscal year ended 31 March, Flipkart reported sales of $4.6 billion.

On January 9, 2017, Kalyan was declared Flipkart CEO - the first non-founder CEO of an Indian startup Unicorn, while Binny became Flipkart Group CEO.

Related news:

Hot News

isis-killer-beheading-video-story-top Longest Game, 1st Ld,252
May 10, 2018 - 13:49
And while Charlotte goalie Alex Nedeljkovic was impressive too, stopping 51 shots, Lyon really stood on his head in the win. It surpassed the Philadelphia Phantoms' 3-2 win over the Albany River Rats in 2008 that lasted 142 minutes, 58 seconds.

isis-killer-beheading-video-story-top Macron, Trump hold telephone meeting on Middle East: Elysee
May 10, 2018 - 13:48
Iran has always denied seeking a nuclear weapon, insisting its atomic program was for civilian purposes. Macron's office said France and Iran's foreign ministers would meet "without delay" for talks.

isis-killer-beheading-video-story-top Israel accuses Iran of missile attack
May 10, 2018 - 13:29
Netanyahu and Putin have held a series of meetings and telephone conversations in recent months, particularly regarding Syria. Jonathan Conricus says Syrian air defenses fired dozens of anti-aircraft missiles, but no Israeli planes were harmed.

Golar LNG Limited (GLNG) Received Average Rating of "Hold" from Analysts
May 10, 2018 - 13:09
The stock of Ingredion Incorporated (NYSE:INGR) has "Hold" rating given on Thursday, September 8 by Societe Generale. The stock of The Brink's Company (NYSE:BCO) has "In-Line" rating given on Thursday, February 9 by Imperial Capital.

isis-killer-beheading-video-story-top Trump, Pence won't attend Jerusalem embassy opening
May 10, 2018 - 12:43
Angry social media reactions were posted criticizing the presence of Egyptian officials, diplomats and businessmen during the ceremony.

isis-killer-beheading-video-story-top Bruce Willis to pack a punch in Cornerman
May 10, 2018 - 12:36
But the backer of the gym is pressuring D'Amato to find a real competitor and to secure his professional legacy. CAA is handling US rights for the film, and IMR International will begin foreign sales in Cannes this week.

isis-killer-beheading-video-story-top PWD scam: Delhi CM Arvind Kejriwal's relative arrested by ACB
May 10, 2018 - 12:33
Kejriwal's relative, Vinay Bansal's arrest came in after the ACB found that he was a 50% partner in the company. The investigations also revealed that the contract of construction was also not completed.

isis-killer-beheading-video-story-top Search for aliens started by Zuckerberg, Hawking ramps up
May 10, 2018 - 12:28
Parkes telescope has also been targeting just a small sample of stars within a relatively short distance from our home planet. In August, the team also revealed they'd detected 15 mysterious signals coming from a galaxy 3 billion light-years away.

isis-killer-beheading-video-story-top Cutting's Mumbai beat Kolkata in IPL
May 10, 2018 - 12:26
Too often pressure has piled on DK and Russell to save KKR at the end, with the former often the last man standing for his side. Dinesh Kartik was run out in the 1st ball of the 10th over by Hardik, and Rana was caught by Cutting on the 2nd ball.

isis-killer-beheading-video-story-top Semi-final 1 2018: How accurate were the bookmakers?
May 10, 2018 - 12:23
Only ten of these acts will be rewarded with a pass to the final for Saturday meaning eight will be eliminated from the competition.

isis-killer-beheading-video-story-top Statement by IAEA Director General Yukiya Amano
May 10, 2018 - 12:04
On January 16, 2016, the parties to the deal announced the beginning of the agreement's implementation. On Wednesday, may 9, said the head of the organization, Yukiya Amano, reports The Times of Israel.

isis-killer-beheading-video-story-top John Mara: No sense of urgency for Odell Beckham Jr
May 10, 2018 - 12:03
New York Giants star Odell Beckham Jr . has taken the next step in building his brand by creating a personal logo with Nike. More than anyone else, Mara fanned the flames that the Giants' best player could be traded.

isis-killer-beheading-video-story-top Isolated severe storms possible Thursday
May 10, 2018 - 11:58
Best chance for thunderstorms in central New York Thursday comes between Noon and 4 pm ahead of that approaching cold front. Louis, the next round of thunderstorms is on the way to the bi-state starting late tonight and into Wednesday.

isis-killer-beheading-video-story-top Eicher Motors gains after declaring Q4 result
May 10, 2018 - 11:58
The NSE Nifty index was trading 28 points up at 10,770, while the BSE Sensex was up 133 points at 35,452. The stock hit an intraday high of Rs. 30750 and intraday low of 30000.

isis-killer-beheading-video-story-top Killed As Dust, Thunderstorm Strikes Western Uttar Pradesh
May 10, 2018 - 11:37
A massive dust storm spread across Agra on Wednesday evening forcing locals and tourists to dash for cover. On May 7, the Meteorological Department had issued a 48-hour dust storm and thunderstorm warning.