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The Fortune Global 500 List 2017

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The 63rd edition of Fortune Global 500 list, which ranks the world’s biggest companies by their total revenue for their respective fiscal year, is out! This year 7 Indian startups have joined the big Unicorn companies and 40% of the companies on the list are Asian.
The total revenue of the companies in this list from around the world equals $ 28 trillion and the 500 companies combined have earned a total of $ 1.5 trillion in profits. The net profit of these companies equals to about 37% of the Global GDP. These companies are shaping the way people all over the world work, play, shop and live their day to day lives.

This year’s list saw 33 new entries. Retail giant Walmart topped the list for the fourth year in a row. Walmart is the only company on the list which generates more than $ 400 million in revenue. Facebook made its debut on the list with an overall revenue of $ 27.6 billion in its last fiscal year. Facebook has reportedly registered 16 straight profitable quarters.

Three Chinese companies State Grid, Sinopec Group and China National Petroleum have taken up the 2nd, 3rd, and 4th position on the list respectively. Apple, which was previously ranked at the 3rd position moved down to the 9th with a 14.4% drop in its annual profits. Despite a decline in sales and revenue generation, Apple is still considered to be one of the most profitable companies in the world. The United States, on the whole, had 132 companies on the list this year, while China had 109 companies.

10 companies from China made their debut on the list this year including the ecommerce giant Alibaba Group and Shenzhen based investment company Tencent Holdings. Alibaba was ranked number 462 with an annual revenue of $ 23.5 billion closely followed by Tencent Holdings at the 476th position with a revenue of $ 22.9 billion. The HNA Group rose to the 170th position from the 353rd rank. 

In this ultimate score card for big businesses from around the world, Indian Oil Corp was ranked at the 161st position with a revenue of $ 54. 7 billion. Tata Motors which was ranked at the 254th position last year moved to the 226th position, followed by the banking giant State Bank of India at the 232nd position. Rajesh Exports which is a private gems and jewelry major made its debut at the 423rd position.

This year’s Fortune Global 500 list represents 33 countries and all the 500 companies combined employ 67 million people worldwide.

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Piyush Anchliya Joins Cashfree Payments as CFO Amid Expansion in India’s Fintech Sector

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Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics

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Delhivery, one of India’s leading logistics companies, has announced its acquisition of Ecom Express in an all-cash deal valued at ₹1,407 crore. This strategic move marks one of the largest consolidations in the logistics sector and is expected to enhance Delhivery’s scale, profitability, and operational efficiency.

Background

Ecom Express, founded in 2012 and headquartered in Gurugram, has faced significant financial challenges recently. The company canceled its IPO plans in 2024 and laid off hundreds of employees due to operational setbacks, including losing a major client, Meesho, which shifted to its in-house logistics service Valmo. These struggles led to a distressed sale, with private equity investors like Warburg Pincus and Partners Group exiting their stakes entirely.

Strategic Benefits for Delhivery

  1. Enhanced Scale: The acquisition will strengthen Delhivery’s network reach and infrastructure, enabling better service delivery across India.
  2. Operational Synergies: Combining operations with Ecom Express will improve efficiency and reduce costs through economies of scale.
  3. Competitive Edge: With Ecom Express as a subsidiary, Delhivery solidifies its leadership position in the logistics space by offering broader coverage and faster services.

Challenges Addressed

The acquisition mitigates risks from Ecom Express’ financial struggles while addressing past disputes between the two companies over inflated shipment volumes reported by Ecom Express during IPO filings.

Future Outlook

The deal is expected to close within six months after regulatory approval from the Competition Commission of India (CCI). Post-acquisition, Ecom Express will operate as a subsidiary of Delhivery, unlocking new growth opportunities such as advanced logistics technology integration and expanded customer reach.

With ₹5,488 crore in cash reserves as of September 2024, Delhivery is well-positioned to finance this acquisition without compromising financial stability. This move underscores Delhivery’s commitment to innovation and efficiency in India’s rapidly evolving logistics landscape.

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