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E-Tech News #10 Who made most money from Flipkart Deal, Who Was First Flipkart Customer

2,183 views · Published 10 May 2018 · 12:03 · Indexed 6 November 2026

Channel: Ecom-Tech Ka Tadka · 2018 · Howto & Style

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In this video you will find the following information
1. 100 Flipkart employees may become millionaires after sale
2. What are the world's biggest e-commerce acquisitions?
3. Flipkart as valuable as India's top four retailers combined
4. eBay India to relaunch after making $1 bn from Flipkart sale
5. Flipkart won't become Walkart: Walmart CEO after acquisition
6. Who was Flipkart's first-ever customer?
7. Flipkart-Walmart deal will not benefit India: Traders body
Over 100 Flipkart employees are reportedly estimated to be worth over $1 million after Walmart's acquisition of a 77% stake in the Indian startup. The employees are expecting payouts in the form of Employee Stock Option Plan (ESOP) as a result of Flipkart's increased valuation to $20.8 billion. The deal boosted Flipkart ESOPs to a reported amount of $2 billion.

US-based retail giant Walmart agreed to buy 77% stake of Flipkart for $16 billion, making it the largest e-commerce deal in the world. Before this deal, the world's biggest such deal was when US retail giant PetSmart acquired online pet store Chewy for $3.35 billion in 2017. In 2016, Walmart had acquired American e-commerce firm Jet.com for $3.30 billion.

Flipkart's current valuation of $20.8 billion is equal to the combined market capitalisation of the top four offline retailers listed in India. D-Mart, Future Retail, Aditya Birla Fashion and Retail, and Future Consumer have a combined value of nearly $21 billion. US retailer Walmart on Wednesday announced it will acquire 77% stake in Flipkart of $16 billion.

Announcing plans to relaunch eBay India, US e-commerce major eBay has said it will sell its stake in Flipkart for $1.1 billion. Last year, eBay had sold its Indian entity to Flipkart in return for a minority stake in the Indian e-commerce giant. This comes after US retail giant Walmart bought controlling stake in Flipkart in a $16 billion deal.

After acquiring 77% stake in Flipkart, Walmart's CEO Doug McMillon has said the homegrown startup's name won't be changed to Walkart. Commenting on the deal value, McMillon said he is confident Walmart is paying the appropriate value for the business based on its potential. He had told Flipkart employees that the deal was among the best decisions Walmart has made.

In October 2007, Mahabubnagar's VVK Chandra became Flipkart's first-ever customer after ordering a book– 'Leaving Microsoft to Change the World'. Chandra was a blogger and on one of his posts, a user named Sachin gave Flipkart's website address, through which he ordered the book. Binny Bansal went to Indiranagar himself to procure a copy of the book before shipping it.

The Confederation of All India Traders (CAIT) has said the Walmart-Flipkart deal will only benefit the venture capitalists, investors and promotors, and not the country. They also said it is a clear attempt by Walmart to dominate the retail trade in India through e-commerce. "There will be an uneven level playing field to the disadvantage of retail traders," CAIT added.

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