Flipkart shuts down ANS Commerce after acquisition
03/02/25, 3:09 AM
Location
indiagurugramIndustry
retail
e commerce
Flipkart has decided to wind down ANS Commerce, a company it acquired three years ago for Rs 250-300 crore. Despite increased revenue, ANS Commerce suffered significant losses, leading to its closure. Flipkart aims to streamline its operations and focus on its core business in e-commerce. This significant move raises questions about Flipkart's future strategy.
Company Info
Location
India
Company info
At the time, Flipkart was valued at just under $25 billion, over 13% higher compared to $22 billion that it commanded three years ago. Flipkart’s latest funding, was led by Canada’s CPPIB, SoftBank Vision Fund, along with participation from existing backers like Singapore government’s sovereign wealth fund GIC, Qatar Investment Authority and Walmart, post which the company is has now been valued at over $37.6 billion.