SoftBank may invest up to $2b in Flipkart

Japanese conglomerate SoftBank is looking at investing about $2 billion in homegrown e-commerce major Flipkart, according to industry sources.

SoftBank, through SoftBank Vision Fund, is in discussions with Flipkart to invest between $1.5-2 billion, two people aware of the development said. They did not wish to be named as the discussions are still going on.

Flipkart-eBay India merger complete

E-commerce major Flipkart on Tuesday said it has completed the merger with eBay India’s operations.

With this, eBay.In will now be a Flipkart Group company. The deal was announced in April when the Flipkart group raised $1.4 billion from global technology majors eBay, Tencent and Microsoft.

In exchange of an equity stake in Flipkart, eBay had made a cash investment of $500 million and sold its eBay.In business to Flipkart.

Jhunjhunwala puts tough questions to IndiGo brass

InterGlobe Aviation, which owns the country’s largest airline IndiGo, after reporting an impressive set of numbers for the quarter ended June 30 on Monday, expects capacity to grow at a compound annual growth rate of about 20 per cent for 2018 to 2020.

Snapdeal calls off Flipkart merger; 7 out of 10 employees staring at pink slips

Ending months’ long deliberations and discussions, Snapdeal on Monday decided to call off the merger deal with Flipkart and to go solo.

Financial Chronicle was the first to report on July 17 that the company was preparing a new business model to remain a standalone entity.

It could be bad news for the company’s employees though. Several of them, awaiting a deal with Flipkart so that they could earn a hefty severance amount, are likely to be disappointed. With the deal called off, the company is likely to see a mass exodus.

Fiat pushes for Jeep in India

Fiat Chrysler Automobiles, which struggled and failed to sell its Italian Fiat brand of cars in the fiercely competitive Asia’s third biggest car market, is now betting big on its American iconic brand Jeep with its made-in-India compact sports utility vehicle Jeep Compass in the country.

Introduced on Monday with an aggressive starting price tag of Rs 14.95 lakh at New Delhi showroom for the base Sport petrol trim, it is offered in a total of six variants–three each in diesel and petrol. The top-end diesel Limited 4x4 variant is pegged at Rs 20.65.

Mercedes bets Big on AMG

Mercedes-Benz, India’s biggest luxury German car maker by sales, is arguably betting big on its iconic performance division called AMG in Asia’s third biggest car market.

Marking the 50th anniversary of the AMG brand, which became a sub-brand of the company in the year 1967, Mercedes-Benz last week introduced the GLC 43 AMG Coupe with a price band of Rs 74.80 lakh at any showroom.

Vodafone counters Jio with ‘Campus Survival Kit’ in Delh-NCR

To counter Reliance Jio, Vodafone is targeting students with a new scheme that will offer unlimited calls with 1 gigabyte of 4G/3G data every day for 84 days, according to a company official.

Reliance Jio is offering similar benefits for Rs 399 along with free roaming and unlimited SMS.