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Flipkart neither run by me nor Krishnamurthy: Binny Bansal in Sept 2016

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In this Sep 2016 interview with   Business Standard , Bansal said firm was all about team work Latest News   : In September 2016, after growth slowed in the first six monthsof the year, the e-commerce companies in the country were gearing up for the festive season that would see big sales. Leading the pack was Flipkart, the largest Indian e-commerce firm. In a telephonic interview with   Business Standard 's   Alnoor Peermohamed ,   Binny Bansal, the then CEO of Flipkart , had said the e-commerce giant was neither run him nor by Kalyan Krishnamurthy, the Tiger Global executive who has now been appointed the CEO of Flipkart. The e-commercemajor was all about team work, Bansal had said. Bansal had also said that the company had 100 million users. This growth occurred despite competition from the international e-commerce giant Amazon becoming aggressive in India.   T he task now was to convert the 100 million to shop every month on its platform, even a...

At townhall, Sachin Bansal concedes that Flipkart missed targets

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At townhall, Sachin Bansal concedes that Flipkart missed targets India’s largest e-commerce marketplace Flipkart has seengrowth stagnate and has come under pressure from global rival Amazon for the past year and a half. While the company has on many occasions tried to bury media reports on layoffs and high-level exits, in a rather frank discussion with employees on Friday co-founder   Sachin Bansal   admitted that the company has indeed missed targets. Bansal, in a townhall meeting with around 200 employees at Flipkart’s headquarters in Bengaluru, addressed their concerns over recent layoffs by saying that even the top management was not exempt from scrutiny over performance, including himself. Bansal who stepped down as the CEO of Flipkart in January this year, said that the move was “performance linked”. The frankness of the co-founder might be a rare occasion where top executives at large companies news   admit to their failures, but it’s also the first time ...

Binny Bansal named Flipkart CEO; Sachin becomes executive chairman

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India’s largest online e-commerce firm Flipkart on Monday announced that co-founder Binny Bansal would be its new chief executive officer, while incumbent Sachin Bansalwould be elevated as the firm’s executive chairman.  Read Articles