Walmart took over Flipkart by 77% stake

Walmart Inc. acquired 77% stake in one of the India’s largest eCommerce i.e. Flipkart for $16 BN (Rs.1.12 Lakh Crore). The deal values at $20.7 BN and deal to include $2 BN equity funding, sources says. Officially announced on May 9, 2018 Wednesday but it has been in work with more than last 12 months. The founder of Flipkart, Sachin Bansal sold his approx. 5 percent stake and quit the company for $1 billion and

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Amazon’s sales rises 43% in quarter 1 and profit grows 125%

Price of Amazon Prime in U.S. will rise this year, to $119 and online sales rise 18%, and goods sold in Amazon’s marketplace accounted for 52% of units sold, up from 50% in Quarter 1 2017. Amazon.com is on top Internet Retailer 2018 among top 1000 rankings, achieve approx. $51 billion in revenue in quarter 1 2018, up 42.90% from $35.71 billion a year earlier. Its net income also more than doubled to $1.63 billion

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