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This Diwali and the followon festive season will have greater discounts and pricings to bring in a new experience for users as Flipkart would make sure to make it as big as its aspirations. With a cash reserve of a massive $4 Billion the company is looking to bring in the discount charm of the past.
With the failed Snapdeal Flipkart merger the company has got $2 billion from Softbank (from its $100 billion vision fund) in the recent past and on top of that Flipkart has also raised money from Tencent China and eBay making the total money as cash reserve to be $4 Billion.
Flipkart has also been on expanding its horizon and invent some not popular yet relevant shopping behaviour of its user segments. As an initiative on the aforementioned strategy and in accordance to its feature roadmap, the company has launched its own brand Billion. Billion seems to combine the user experience and technology together to increase product utility.
In the Big Billion days, apart from deals and offers users will have access to unique and exclusive selection across 80+ categories. Speaking on the development Kalyan Krishnamurthy, CEO, Flipkart said, “Our focus this year is to ensure a high uniqueness quotient to our selection across categories. We’re fully prepared to process a billion wishes in time through India’s biggest event of the year. This is all an extension of what Flipkart has done since it started a decade ago when it created the ecommerce market in India and helped millions from small towns and villages benefit by shopping online.”