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Walmart Finalized $20 Billion Flipkart Deal

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The much foreseen Walmart and Flipkart deal is finalized. The retail titan Walmart’s CEO McMilon is in Bengaluru exclusively to take the deal to the next level and acquire over 70% stake in the ecommerce player. This is going to be one of the largest Mergers and Acquisitions (M&A) to take place in India. The ecommerce firm will be valued at $20 billion post the deal. The deal will be made official in a town hall meeting at Flipkart’s headquarters in Bengaluru.

McMilon is also going to disclose the strategy he is likely to implement in India to the Flipkart’s employees. Google parent Alphabet Inc., will align with Walmart in the deal. Walmart would be owning a 60% stake, while Alphabet will get about 15% ownership of Flipkart. Although the transactions are supposedly to take place in Singapore where the ecommerce firm Flipkart is registered, India’s Income Tax (I-T) department keeping an eye on the deal. According to the I-T rules known as the “Retrospective Tax,” any asset which is registered or incorporated outside India shall be deemed to be situated in India if the assets are “substantially” located in India. With the ongoing talks of the deal , there is a possibility the taxmen may apply the same rules to the Walmart-Flipkart deal.

According to reports, Flipkart’s rival Amazon has been trying to invest in Flipkart and also made an offer to buy 60% of its stake. The e retailer, however, seems to show no interest in the deal and chose Walmart over Amazon. Nevertheless, Amazon is committed to invest over $5 billion in India. The company aims at making its distribution systems stronger in the country.

With the online marketplace in India growing tremendously, global investors are hugely attracted to the Indian online market. Currently, Flipkart controls nearly 40% of India’s online retail market.

This article has been updated!

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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe

PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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Piyush Anchliya Joins Cashfree as CFO Amid Fintech Boom

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Cashfree Payment - StartupStories

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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Flipkart - StartupStories

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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