🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Flipkart valuation down by over ₹41,000 crore since 2022
Livemint
·
1y ago
Medial
Flipkart, the Indian e-commerce company owned by Walmart, has seen its valuation drop by $5 billion since January 2022. This comes as Flipkart's fintech subsidiary PhonePe becomes an independent entity. Walmart's equity transactions highlight the changes, with the company diluting 8% of its equity in Flipkart and then increasing its stake by 10%. Flipkart disputes the reported valuation decrease, stating that it was an appropriate adjustment after PhonePe's separation. Meanwhile, Flipkart insiders note significant growth in Gross Merchandise Value (GMV) in 2023, potentially impacting the company's valuation positively. In FY23, Flipkart reported a net loss of ₹4,846 crore.
View Source
Related News
Flipkart Valuation Declines Over INR 41,000 Cr In Two Years
Inc42
·
1y ago
Medial
Flipkart's valuation has decreased by $5 billion (INR 41,432 crore) from January 2022 to January 2024, according to equity transactions by parent company Walmart. This decline is attributed to the demerger of fintech firm PhonePe into a separate entity. The current valuation of Flipkart is estimated to be between $38-40 billion, contrary to the reported $35 billion. Flipkart's gross merchandise value (GMV) has seen significant growth, ranging from 25-28% year-over-year, reaching $29-30 billion in 2023. Meanwhile, Flipkart India Private Ltd reported a 9% rise in operating revenue but a 1.4X increase in net loss in FY23.
View Source
Flipkart valuation declines by over Rs 41,000 crore in two years
Economic Times
·
1y ago
Medial
Flipkart's valuation has reportedly declined by $5 billion to $35 billion as of January 2024 compared to $40 billion in January 2022. The decline is attributed to the demerger of Flipkart's fintech subsidiary, PhonePe. However, sources suggest that the current valuation of Flipkart is still in the range of $38-40 billion. Walmart, Flipkart's parent company, increased its stake in Flipkart to approximately 85% in FY2024. Flipkart disputes the decrease in valuation reported by Walmart, stating that the valuation adjustment was made due to the separation of PhonePe. Flipkart's GMV has grown significantly, increasing its current valuation.
View Source
Exclusive: Flipkart shuts down ANS Commerce
Entrackr
·
4m ago
Medial
url: https://entrackr.com/exclusive/exclusive-flipkart-shuts-down-ans-commerce-8765612 Content: Flipkart has decided to shut down ANS Commerce, its full-stack e-commerce enabler, three years after acquiring the Gurugram-based company, sources familiar with the matter told Entrackr. "Flipkart has decided to shut down ANS Commerce and has also laid off several employees associated with it," said a source familiar with the matter, requesting anonymity. Confirming the development to Entrackr, a Flipkart spokesperson said, “'After careful consideration, ANS Commerce, a full-stack e-commerce enabler that was acquired by Flipkart in 2022, has decided to close its operations. As we wind down operations, we stay committed to ensuring a smooth transition for all stakeholders, including employees and customers.” “To minimize the impact on employees during this transition, we plan to offer internal opportunities at Flipkart, outplacement services, and severance packages,’ the spokesperson added. Founded by Amit Monga, Vibhor Sahare, Sushant Puri, and Nakul Singh, ANS Commerce is a full-stack e-commerce enabler offering services such as store tech, performance marketing, marketplace management, e-commerce warehousing, and fulfillment. It collaborates with over 100 brands, including Jack & Jones, Vero Moda, HUL, Piramal, Lakme, Nivea, Oziva, CEAT, and Bikanervala. The firm raised $2.2 million in its pre-Series A round, led by Gokul Rajaram and Venture Catalysts in October 2021. According to sources, ANS Commerce was acquired in a deal worth Rs 250-300 crore ($35-40 million) three years ago. During FY24, ANS Commerce recorded a 39.4% increase in operating revenue to Rs 54 crore, compared to Rs 39 crore in FY23. However, the company's net loss widened by 27.1% to Rs 73.8 crore in FY24 from Rs 57.8 crore in the previous year.
View Source
Flipkart Internet receives $111 million in new fund infusion
Economic Times
·
1y ago
Medial
Flipkart Internet, the marketplace arm of Flipkart backed by Walmart, received a cash injection of approximately INR 924 crore ($111 million) from its Singapore-based entities in January 2023. This comes as Amazon continues to invest in its Indian entities, crossing INR 1,000 crore ($134 million) this year. Flipkart is also in talks to raise up to $1 billion, with parent company Walmart committing to invest $600 million. Flipkart's valuation is expected to be around 5-10% higher than its previous valuation of $33 billion. In the fiscal year 2023, Flipkart Internet reported a 42% increase in operating revenue and a 9% decrease in total loss.
View Source
PharmEasy valuation slashed to $458 Mn by Janus Henderson
Entrackr
·
10m ago
Medial
API Holdings, the parent company of online drug marketplace PharmEasy, has seen its valuation cut to $458 million. This is around a 92% valuation markdown from its peak of $5.6 billion in 2021. PharmEasy’s investor and global asset management company Janus Henderson slashes the company’s valuation by marking down its investment value by 91.8%, the filing accessed from SEC shows. In April, PharmEasy saw a 90% haircut in its valuation when it raised Rs 1,804 crore ($216 million) led by Ranjan Pai’s Manipal Education and Medical Group (MEMG) and existing investors. The Mumbai-based firm has been trying to raise around Rs 3,500 crore to repay the debt it took from Goldman Sachs. The Dharmil Shah-led firm already defaulted on its loan terms with Goldman Sachs in June 2023. Around the same time, Janus Henderson reduced PharmEasy’s valuation by around 50%. Citing adverse market conditions, PharmEasy also deferred its initial public offering plan even after filing draft IPO papers. The firm filed DRHP in November 2021 and pulled back its listing plan in August 2022. Recently, Gupshup’s investor Fidelity marked down the SaaS firm’s valuation to $500 million. The company was valued at over $1.4 billion in its last equity funding. Swiggy, Byjus and a few other hyper-funded companies also saw valuation markdown by their investors in 2024. According to the startup data intelligence platform TheKredible, the firm posted a 16% year-on-year growth to Rs 6,643 crore revenue in FY23 while the losses for the Temasek-backed company surged 30.5% to Rs 5211 crore in the same period. The company is yet to file its annual statements for FY24.
View Source
Flipkart receives $382 Mn from parent entity
Entrackr
·
3m ago
Medial
Flipkart Internet, the marketplace arm of Walmart-backed Flipkart, has received Rs 3,249 crore (approximately $382 million) in internal funding from its Singapore-based parent entity. Earlier, in April 2024, the company had secured Rs 1,421 crore from the same parent organization. The board at Flipkart has issued 470,773 equity shares at an issue price of Rs 69,014.7 each on a right issue basis to raise Rs 3,249 crore from Flipkart Marketplace Private Limited (Singapore), its regulatory filing accessed from the Registrar of Companies (RoC) shows. In May last year, Flipkart raised $350 million from Google at a valuation of $36 billion. According to startup data intelligence platform TheKredible, Walmart is the largest stakeholder in the e-commerce company holding 85% stake, followed by Tencent and other minority shareholders including CPP Investments, GIC, SoftBank and Microsoft. Apart from horizontal e-commerce offerings, Flipkart also entered the quick commerce space with Minutes, promising deliveries within 10-15 minutes to compete with players like Blinkit, Zepto, and Instamart. For the fiscal year ended 2024, Flipkart reported a 20% increase in operating revenue to Rs 17,907 crore, while reducing its losses by over 41% to Rs 2,359 crore during the same period.
View Source
Sharechat valuation drops to under $2 billion post new funding
Economic Times
·
1y ago
Medial
Indian social media firm Sharechat has seen its valuation drop by over 60% to below $2bn, down from its peak of $5bn in 2022. The company closed $49m in debt financing through convertible debentures from existing investors. These investors include Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures and HarbourVest. Sharechat's lower valuation comes as it faces increasing competition from rivals such as Instagram and YouTube's Shorts. The funding will be used to invest in ad targeting technology and strengthen the company's monetisation plans.
View Source
PhysicsWallah’s valuation to soar 2.5x to $2.8 bn in new funding
The Arc Web
·
10m ago
Medial
Edtech firm Physics Wallah is close to raising a $150 million fundraising round led by hedge fund Hornbill Orchid, with participation from venture capital firm Lightspeed Venture Partners, at a $2.8 billion valuation. This would be a 2.5x jump in valuation for the profitable tech firm since its last round in 2022 when it raised $102 million at a $1.1 billion valuation.
View Source
Minimalist fails to attract investors after seeking fourfold jump in valuation
Livemint
·
11m ago
Medial
Skincare startup Minimalist has failed to secure funding from investors, including Verlinvest and Premji Invest, after seeking a fourfold increase in valuation. The startup aimed for a valuation of over $300 million, compared to $76 million in its previous round. L Catterton, another potential investor, did not proceed with discussions. While Minimalist justifies its higher valuation by being profitable since its inception, investors are hesitant to meet the high ask in the current market conditions. The company plans to reconsider if the valuation becomes more suitable. Minimalist's revenue in FY23 was INR 188 crore, with a net profit of INR 5.2 crore.
View Source
Flipkart targets to shift domicile from Singapore to India
Entrackr
·
1y ago
Medial
E-commerce major Flipkart is planning to shift its domicile or holding company from Singapore to India, according to a media report. With this, it will join several late stage companies which are also planning to move back to India over the next few months. The domicile shift can be linked to Flipkart’s plan to go for an initial public offering (IPO) in the near future, ET reports. Walmart-controlled Flipkart will be the second firm from the group which is planning to shift the domicile. Earlier, PhonePe became the first to do a reverse flip. It’s worth highlighting that PhonePe was fully separated from Flipkart Group in December 2022. PhonePe’s investors had to pay Rs 8,000 crore in taxes to the government for the move and Flipkart is also expected to pay heavy taxes in the process. The quantum of the tax to move domicile depends on the company’s valuation and third-party audits. Flipkart was last valued at $33 billion after a $600 million funding from existing backers in December last year. Also, it’s the most valued Indian-origin private company till now. In July 2021, Flipkart received $3.6 billion led by SoftBank at a valuation of $37.6 billion. The company was revalued at $33 billion after separation from PhonePe. Entrackr has reached out to Flipkart for comments. Walmart owns nearly 85% stake in Flipkart followed by Tencent and CPP Investment which own 7.1% and 2.3% shares, respectively. The company’s co-founder Binny Bansal officially exited the company in January this year. Most recently, fintech unicorn Groww announced moving back its base to India from the US. The firm already completed the process in March this year. Besides the above-mentioned three companies, KreditBee, Pine Labs, Razorpay, Meesho, Eruditus and Zepto have been working on reverse flips.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in