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Flipkart Board Approves Walmart Deal For $15 Billion

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In a recent development the board of the ecommerce firm Flipkart, approved to sell 75% equity stake to a group of investors led by Walmart Inc., for $15 billion, Bloomberg reported. SoftBank will sell its 20+ per cent stake as a part of the deal, the report said. Google’s parent Alphabet Inc., is also likely to participate in the investment with Walmart. Reports also suggest the deal would be finalised in the next 10 days, although terms of the deal could still change.

The week noticed some surprising headlines about CEOs quitting the firms. From Jan Koum to Sachin Bansal, they seem to be taking extremely crucial decisions lately. Shortly after the Flipkart and the Walmart deal dominated the news, sources revealed Sachin Bansal, the online retail giant’s co founder, may exit the firm. This impending deal seems to play a vital role in his exit. Sachin may look to startup another venture again and also mentor other entrepreneurs. Even as the details are emerging, Walmart said it wants the duo, Binny Bansal and Flipkart CEO Kalyan Krishnamurthy, who have been actively running the daily operations, as more critical members, to stay back, the sources revealed.

Earlier, reports confirmed while CEO Kalyan Krishnamurthy would continue to head Flipkart, one among its founders, Sachin Bansal and Binny Bansal may exit. “Sachin is most likely to leave and Binny will stay.” Email sent to Flipkart and Sachin Bansal did not elicit a response at the time of filing this article. “I won’t be able to comment on anything related to this,” said Sachin Bansal in a text message.

Currently Sachin Bansal holds 5.5 % of shares in the company. If the deal with Walmart happens at a valuation of $20 billion his share would be worth over $1 billion. Flipkart buys back shares worth $ 350 million from its investors. The investors include DST Global, IDG Ventures and ICONIQ Capital. The online giant intends to sell a majority stake to the U.S., wholesale giant Walmart Inc.

Walmart Inc., is in advanced talks with Flipkart to acquire a dominant stake of more than 51 percent in the firm. All of it at a price of at least $18 billion, as sources reported to ReutersThe Walmart-Flipkart negotiations have been reported in the popular media for several months now.  The company also began the procedure of modifying itself in to a private limited company, changing its name to Flipkart Pte., Ltd., the filings showed. Furthermore, this is the second such transaction during the past 12 months.

In the latest instance, a number of minority Flipkart shareholders have been handed complete exits. In August 2017, most of Flipkart’s minority shareholders gave away a portion of their stakes to SoftBank.  Moving ahead, Accel Partners has clocked $113.5 Million through partial exits from Flipkart. Beside SoftBank and Accel Partners, IDG Ventures and Helion Ventures have gained excellent returns on their investment in the online giant. Other famous investors like Microsoft, Tencent and eBay have also invested in Flipkart last year.  

As of now, Tiger Global and SoftBank Group are the largest shareholders in Flipkart, each holding about 20% stake, and Naspers at about 13%. Sachin and Binny Bansal hold about 5% each in the company.

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Amazon India Launches At-Home Diagnostic Service, Expands Healthcare Ecosystem

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Amazon India has expanded its healthcare portfolio with the launch of Amazon Diagnostics, an at-home diagnostic testing service developed in partnership with Orange Health Labs. Now available in six major cities—Bengaluru, Delhi, Gurgaon, Noida, Mumbai, and Hyderabad—the service covers over 450 PIN codes and offers access to more than 800 diagnostic tests. Customers can book tests via the Amazon app, schedule home sample collection within 60 minutes, and receive digital reports for routine tests in as little as six hours, making healthcare more accessible and convenient than ever before.

This launch completes Amazon’s integrated healthcare suite in India, which already includes Amazon Pharmacy for medicines and Amazon Clinic for virtual doctor consultations. By bringing these services together under the Amazon Medical umbrella, the company enables a seamless outpatient journey—from doctor consultation to lab testing and medicine delivery—all managed through a single digital platform. The partnership with Orange Health Labs ensures high-quality, reliable diagnostics, supported by Amazon’s operational expertise and focus on customer trust.

Amazon’s entry into the $15 billion Indian diagnostics market signals a major shift in the country’s health-tech landscape, introducing new competition for established diagnostic players. Rather than competing solely on price, Amazon is prioritizing a seamless, trustworthy experience, aiming to address the growing demand for digital healthcare solutions and simplify access for millions of users across India.

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Bhavish Aggarwal’s Krutrim Unveils ‘Kruti’ — An Agentic AI Built for Bharat

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Bengaluru, June 2025 – Krutrim, the AI startup founded by Ola’s Bhavish Aggarwal, has launched its new agentic AI assistant, Kruti. Unlike traditional virtual assistants, Kruti is designed with an Indian-first approach — combining cultural context, multilingual capabilities, and generative AI to offer a more intuitive, task-oriented experience for users.

Kruti is built to do more than just respond to queries — it can independently perform tasks, make decisions, and integrate across platforms for productivity and communication. Powered by Krutrim’s proprietary Indian-trained language model, it brings a deep understanding of local languages and digital behaviors, catering to both personal and business needs in the Indian ecosystem.

Aggarwal described Kruti as “India’s digital brain,” highlighting its role in redefining AI for Bharat. The assistant will be rolled out in phases, starting with enterprise partners and expanding through apps and APIs. As Kruti integrates into various platforms — including Ola’s services — it marks a significant stride in India’s ambition to lead the global AI race.

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Bankruptcy Forces BYJU’S to Offload Epic and Tynker for a Fraction of Acquisition Cost

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BYJU’S, once India’s most celebrated edtech startup, has sold its major US-based subsidiaries Epic and Tynker for a fraction of their original purchase prices, marking a dramatic reversal in its global expansion strategy. The distressed sales, approved by a US bankruptcy court on May 20, 2025, come amid the company’s ongoing financial and legal turmoil. Tynker, a coding education platform acquired by BYJU’S in 2021 for $200 million, was sold to CodeHS for just $2.2 million in cash, while Epic, a digital reading platform bought for $500 million in 2022, was acquired by China’s TAL Education Group for $95 million.

These fire-sale transactions were part of a broader restructuring effort to address disputes with lenders after BYJU’S defaulted on a $1.2 billion loan, which triggered bankruptcy proceedings for its US entities. The company’s US unit, Byju’s Alpha, became the focal point of legal battles, including allegations of mismanagement and the misappropriation of funds by top executives. Court rulings in the US have highlighted instances of fraudulent transfers and breaches of fiduciary duty by suspended directors, further compounding BYJU’S woes.

As BYJU’S scrambles to stabilize its core operations, several of its other high-profile acquisitions, such as Great Learning and Aakash Institute, have started operating independently and distancing themselves from the parent company. The massive losses from the sales of Epic and Tynker underscore the risks of BYJU’S aggressive acquisition spree and the severe impact of its financial mismanagement, leaving the future of the once high-flying edtech giant in question.

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