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22.02.2020 / / GROUP 2 / / ASSIGNMENT

REPORT ON INDIAN COMPANIES THAT WERE SOLD

OUT OT US
FLIPKART SOLD TO WALMART

Indian Based Company

Flipkart

Walmart
wins the Bid
against the
Amazon
COIMBATORE Walmart, an American Multinational retail Corporation that operates a chain of hypermarkets and departments stores, has
22.02.2020 acquired Flipkart, an Indian e-commerce-based shopping site.

Flipkart was founded by

Sachin Bansal and A leading e-commerce site, Flipkart loses its operation to Walmart
Binny Bansal in the year
2007. The company
initially focused on The operations of the Flipkart were then happy in The Fall of Flipkart and the rise of Walmart
selling the book to the serving the customer base with more than 100 books On 4 May 2018, US retail chain Walmart, had won a bidding war
customer, and later sold per day. Flipkart has acquired the Bangalore based with Amazon to acquire the majority share of Flipkart for US $15
expanded the business to social book discovery service weRead, also has made a billion. On 9 May 2018, the Walmart officially announced that it
consumer products such successful acquisition of Myntra in the year 2014, for a is intended to hold the 77% controlling share in the Flipkart for
as Electronics, fashion $20 billion bid against the other companies. The about $ 16 billion. Due to the fall in the control, the early top
and home essentials. growing company has also widened its partnership with management has resigned and the Walmart has taken over the
Initially the company Motorola company. This has led the partner company management. Now the Top Management consist of Kalyan
had the share of 39.5% to increase the sales and thus maximizing its profit. On Krishnamurthy, as the CEO of Flipkart and other officer of
during the year 2017. this note, the other Indian Manufacturer also partnered Walmart namely, Daniel De La Garza, Grant Coad and Dawn
Initially the founder of with Flipkart during the year 2014, and the partner Ptak has recently joined the office. Emily McNeal joined Flipkart
the company has spent company Redmi has seen a huge increase in the sales of as Senior Vice President and group chief financial officer. The
around 4 Lakhs, as an Xiaomi Mi3, in July 2014. Then the company had a major shareholders of Flipkart are displayed in the image below.
initial investment to great idea of making the customers of Flipkart happier The Walmart holds the majority
develop the site. It has with the great sale called the Big Billion Day. The of it. After the acquisition now,
raised its venture capital company also acquired Jabong, in the year 2017. With the Walmart faces the lower
through the company, the acquisition of around US $70 Million, the Flipkart profit margins. The company
Accel India and Tiger came up with an idea of PhonePe, the app-based e- has a scope that the expansion of
Global India. payment services. Flipkart owned the 51% share of all the company requires the supply
Indian smartphones’ shipments in 2017, overtaking the chain and logistics, where
Amazon India, which had a share of only 33%. The top Flipkart had the greater of it in
Company Venture
management consisted of, Sachin Bansal and Binny the past years. Thus Walmart
Capital
Bansal, later in the year 2016, the CEO and the co- brings out an idea of expanding
founder of Flipkart, Sachin Bansal has taken the charge the business via the widened
Accel US $1
India Million of Executive Chairman, whereas the COO and Co- Supply Chain and Logistics.
founder, Binny Bansal continued to be Chief Executive
Tiger US $10 officer of Flipkart. Sachin Bansal, was confident
Global Million enough that Flipkart will pay a transformational role in
India India and also it can improve the quality of the people
in India with its widened variety of sale. Also, Binny
Bansal added up that the company will continue to
operate at the World Class Customer Experience, drive
innovations in the mobile commerce and technologies.

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22.02.2020 / / GROUP 2 / / ASSIGNMENT
Google’s Alphabet Acquires Indian based
AI Company, Halli Labs
Artificial Intelligence
COIMBATORE
22.02.2020
Halli Labs, a four-month-old startup was
acquired by Google, Alphabet. The Halli
Labs was outperforming in the area of
Artificial Intelligence and hence Google’s
Alphabet had an eagle view of acquiring the
company. Google requested for the
acquisition of Halli Labs and the founder
Pankaj Gupta has announced that, Halli Labs
will join Google’s Next Billion User team to
help get more technology and information
into more people’s handout. India has
emerged as one of the biggest markets for
internet companies such as Google,
Facebook and Apple for talent as well as
business. The increasing number of start-ups,
built by former employees of these and other
multinational firms, has helped focus on
building products that solve problems of
consumers, both in India and abroad. There
are no details about the market share of Halli
Labs.
Google Alphabet has acquired Halli Labs on 12
July, 2017.
The Google’s General Manager & VP, welcomes
Pankaj Gupta to the mergers and acquisition.
REPORT ON INDIAN
COMPANIES THAT
WERE SOLD OUT OT US
KEYWORD
Halli Labs
COIMBATORE
22.02.2020
The Bangalore based startup Halli Labs was
founded on April, 2017 by Pankaj Gupta, a
former Senior Executive at Stayzilla and Twitter.
According to the company’s website, the
company was mainly started to work on the
modern machine learning techniques and AI
techniques to the older problems and domain.
The founder was the chief product and
technology officer at Stayzilla from 2016- 2017.
He has also served as an advisor to Matrix India
Partner and Nexus Venture Partners in India.
Pankaj Gupta, an IIT Graduate worked at Twitter
for 5 years. Further to the resignation at the
Stayzilla, he has formed a startup and was
performing better in the market. Global internet
giant Google has made its first acquisition in
India by taking over Halli Labs, a four-month-old
artificial intelligence (AI) and machine learning
(ML) start-up that was looking to build solutions
for the Indian masses.
PAGE 2
 REPORT ON INDIAN
22.02.2020 / / GROUP 2 / / ASSIGNMENT COMPANIES THAT
WERE SOLD OUT OT US

Yahoo! Acquires Bookpad, Bangalore based Indian Tech Startup

COIMBATORE
22.02.2020

Bookpad, a Bangalore based startup was initially

started by the former IIT Graduates. The founder of the
company are Aditya Bandi, Niketh Sabbineni and
Ashwik Battu. The most interesting fact about the
company is that it, the Docspad provides a set of cloud
APIs to app developers which can be used to receive
the instant document handling within their application.
This app lets the user to preview, edit and manage any
documents in the cloud. It also provides features like
collaborative editing, commenting, annotations and
others options. Bookpad was selected in the first batch
of Startup Warehouse programme, a co working space
provided by NAASCOM and Karnataka Government.
It was also among the 16 startups that were part of
2014’s Summer Batch of MicroSoft Accelerator
Programme in India

The reason behind

User Experience.

The main reason behind the merger and acquisition with Bookpad is that,
the Google has provided the users with the online Docs editing platform
such as Google Docs, Google Sheets etc. Whereas the Yahoo lagged
behind and losing its customer. Hence it has now come with signing a
deal with Bookpad for 50 Crores and the deal was also agreed with this
and has now started to work with the Yahoo Team. Besides this
Autodesk, Dropbox was also looking for the acquistion with the
Bookpad. But Yahoo has bagged a great deal. The company’s first
product, Docspad, supports a variety of file formats, including Word,
Powerpoint, Excel, PDF, ODT, ODP, ODX, ePub 2.0 and others.
Recently, an open-source version of the application was released, which
Bookpad with its variety of Technology and Innovations
allowed developers free access to Docspad APIs forever.

Acquisition of Bookpad
COIMBATORE
22.02.2020

The acquistion of Bookpad was worth 50 Crores.

The Flagship product, Docspad is targeted at app
developers. The US market is very keen in the
Indian based startups for the enhancement in the
features of the product. Yahoo, now stands in
competition with Google Docs, for formatting
the text documents online. It allows the users
who wishes to make document viewing and
editing. Files in real time, without having to
download the file and access it in a separate The Acquisition by Yahoo
application. When a user uploads a document,
the client’s website communicates with
Docspad’s server, which then converts that
document into HTML and enables users to
preview and make edits.

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 REPORT ON INDIAN
22.02.2020 / / GROUP 2 / / ASSIGNMENT COMPANIES THAT
WERE SOLD OUT OT US

HUTCH LOSES ITS CONTROL TO VODAFONE, A BRITISH MULTINATIONAL COMPANY

Vodafone & Hutch Essar, to become Vodafone Essar

Coimbatore Vodafone, the world’s largest mobile phone operator by revenue, has
22.02.2020 unveiled an India-focused, high-growth strategy for the next five years
that will include bringing ultra-low-cost handsets and wireless
Vodafone and Essar have reached an agreement under which they will connectivity in the vast hinterland and “being a good corporate citizen”
work to continue the growth of Hutchison Essar Limited. The partners now that it has acquired its greatly-fancied 67 per cent stake in Hutchison
have agreed that Hutchison Essar will be renamed Vodafone Essar and, Essar, India’s fourth-largest mobile operator.
in due course, that the business will market its products and services
under the Vodafone brand. Vodafone is the world’s leading international
mobile communications group with operations in 25 countries across five
continents and over 200 million proportionate customers by the end of
January 2007, as well as 36 partner networks. Essar is one of India’s large
corporate houses with 20,000 staff and business interests spanning high
growth infrastructure sectors of steel, oil & gas, power,
telecommunications, shipping & logistics and construction. Vodafone
Essar is owned by Vodafone 67% and Essar Group 33%. It is the second
largest mobile phone operator in terms of revenue behind Bharti Airtel,
and third largest in terms of customers. On February 11, 2007, Vodafone
agreed to acquire the controlling interest of 67% held by Li Ka Shing
Holdings in Hutch-Essar for US$11.1 billion, pipping Reliance
Communications, Hinduja Group, and Essar Group, which is the owner
of the remaining 33%. The whole company was valued at USD 18.8
billion. The transaction closed on May 8, 2007.

TAPZO SOLD TO AMAZON

TRUE SPARROW ACQUIRED
BY FAB.COM AMAZON PAY

Praveen Sinha, an IIM alumni has

been a successful Entrepreneur in the
past years. His remarkable startups are
Fab.com, the fastest growing e-retails the Jabong, Tapzo. The entry of
sites in the world acquired the PhonePe, by Flipkart has made a
partnering technology providing tremendous change in the market. The
startup, True Sparrow, a Pune based digital movement has been a dream
startup. Fab.com is a social media site, and it was successful. The Amazon, a
which is now mainly focused on the US based multinational company
selling designer products and one of the made a deal with the 3 years old Tapzo,
fastest growing online retailers in the to be merged with Amazon to come up
US market. There are no disclosure of with the E payment services Amazon
the market share and the acquisition Pay. Amazon has paid $40 Million to
cost. acquire the company. The startup
Tapzo, was aggregating number of
app- based services, such as Uber,
Bookmyshow, Zomato etc.

PAGE 4