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Walmart To Get Funds For Flipkart Deal By Next Year!

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Walmart Get Funds For Flipkart Deal,Startup Stories,Startup News India,Latest Business News 2018,Walmart Flipkart Deal,Walmart Funding News,India Largest Online Retailer,Walmart Flipkart Deal Latest News,Flipkart Business News,Largest E-commerce Deal

The Walmart-Flipkart deal which was making headlines earlier this year caught everybody’s attention but, there’s more to the story. The homegrown e commerce firm Flipkart is yet to get the final funds from Walmart. Though the deal is finalized but the funds Walmart Inc., has to give is currently pending as the US retail giant is busy arranging the funds to zip up the deal. According to reports, the retail titan would close the acquisition of a 77 % stake in India’s largest online retailer Flipkart in 2019 i.e, next year.  Walmart had earlier claimed that it will close the deal by the end of 2018. Apparently, Walmart doesn’t seem able to fulfill the demand this year. However, if it fails to arrange the amount by next year, it will have to repay a significant portion of the bond issue. A March 9, 2019 deadline has been set in the share purchase agreement between the two companies around which the termination rights have been negotiated, as per a regulatory filing made in May.

A Walmart spokesperson said Walmart is working with the authorities in India and we are hopeful of timely approval. We are still expecting closing later this calendar year, subject to regulatory approval. The date in the 8 K filing on June 21, 2018, is related specifically to the bonds we recently issued. According to both the firms the proposed transaction does not give rise to competition concerns and the relevant market for the partnership is the pan-India market for B2B sales.

Apart from the fundings, there is another twist in the tale! A huge number of retail and trader groups are protesting with regards to the Walmart-Flipkart deal. About 10 lakh traders would take to the streets as they hold a nationwide protest. The protest is being organised by trade body Confederation of All India Traders (CAIT) and is likely to draw participation from the RSS affiliated Swadeshi Jagran Manch. The protest is expected to be a sit-in across 1,000 spots in 500 cities.  The CAIT also filed a petition during the end of May with the anti-trust regulator CCI, objecting to the Walmart-Flipkart deal, citing the reason that such a merger would lead to predatory pricing and deep discounts among others. The Secretary General Praveen Khandelwal, of CAIT said we expect the government to intervene and take suitable action in accordance with various announcements of Prime Minister Narendra Modi to uplift small businesses in the country. This deal will directly affect small traders of the country who will not be able to compete with Walmart.

Walmart-Flipkart deal is one the largest acquisitions of all time. Can we expect more such deals? Share your views in the comments section below!

 

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PayU Gets Final RBI Nod to Operate as Payment Aggregator Ahead of 2025 IPO

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PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.

The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.

PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.

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Google’s Iconic ‘G’ Logo Gets First Update in 10 Years

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Google has refreshed its iconic ‘G’ logo for the first time in nearly 10 years, replacing the familiar solid blocks of red, yellow, green, and blue with a smooth, vibrant gradient that blends these colors seamlessly. This subtle update gives the logo a softer, more fluid, and modern appearance, aligning with Google’s evolving digital identity and current design trends.

The new gradient transitions smoothly from red to yellow, yellow to green, and green to blue, making the logo more visually appealing and adaptable across various devices, especially on mobile platforms. This redesign also reflects Google’s growing emphasis on artificial intelligence, echoing the gradient style used in the branding of Google Gemini, the company’s AI-generative assistant.

The updated ‘G’ logo has started rolling out on iOS through the Google Search app and on some Android devices, particularly Pixel phones running the Google app beta version 16.18. However, most other platforms, including the web and non-Pixel Android devices, still display the classic solid-color logo. A wider rollout is expected in the coming weeks.

So far, Google’s main wordmark and other product logos like Chrome, Maps, and Gmail remain unchanged. Given the shift toward gradient designs and AI-inspired visuals, similar updates to other Google icons may follow in the future.

In summary, this first major update to the ‘G’ logo since 2015 signals a subtle but meaningful shift in Google’s branding strategy, blending tradition with innovation as the company deepens its focus on AI and modern design aesthetics.

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Ixigo Halts Bookings for Flights and Hotels to Turkey, China

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Indian online travel platform ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan in response to these countries expressing support for Pakistan after India’s military strikes-dubbed ‘Operation Sindoor’-against terror bases in Pakistan and Pakistan-Occupied Kashmir. The move, announced by CEO Aloke Bajpai on X, was described as an act of solidarity with India during heightened diplomatic tensions following the Pahalgam terror attack.

ixigo’s decision aligns with similar actions by other Indian travel companies, including EaseMyTrip and Cox & Kings, which have also restricted travel services to Turkey, China, and Azerbaijan. The suspensions come amid widespread calls for boycotts after these countries condemned India’s military response and backed Pakistan.

The travel industry’s collective response underscores how geopolitical developments are influencing business decisions, with Indian companies emphasizing national interests and unity in the face of international criticism

 

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