Expanding partnerships with original equipment makers in India, investing in local companies and striking content partnership deals here are key priorities.
Mukesh Bansal, who is bowing out of Flipkart to become an entrepreneur once again said he has few regrets after leaving India’s most valuable startup.
Mukesh Bansal has resigned as head of commerce & advertising biz at Flipkart, just weeks after a restructuring that resulted in Binny Bansal’s elevation as CEO.
Ever since Jeff Bezos took the fight to Flipkart in July 2014 by revealing plans to invest $2 bn in India, the firm has steadily poured in money.
Astro has built a sizeable digital portfolio in India of over $200 million, of which Getit is the largest where it holds over 90% stake.
It also comes less than two months after rival ecommerce firm Amazon led a Rs 150-crore funding round in home services startup Housejoy.
The company plans to invest Rs 135 crore in 40 startups over the next two years as a part of its seed and incubation programme.
The deal would give Amazonbacked Housejoy a foothold in “a strategic category” to help drive repeat customer usage.
Flipkart’s new CEO Binny Bansal is seeking to rev up the company’s growth through the business he knows best, its logistics unit Ekart.
This is Flipkart’s second fund infusion in seven months into the logistics business that’s housed under a newly created entity called Instakart Services.
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