April 20, 2014 10:31 AM ET

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Company Overview of Flipkart Online Services Pvt. Ltd.

Company Overview

Flipkart Online Services Pvt. Ltd. operates an online shopping Website in India. It provides books, movies, music, games, consoles, gaming accessories, mobiles, mobile accessories, cameras, camera accessories, computers, computer accessories, network components, software, peripherals, home and kitchen appliances, TV and video products, and personal and health care products. Flipkart Online Services Pvt. Ltd. was founded in 2007 and is based in Bengaluru, India.

No. 447/B, 1st A Cross

12th Main, 4th Block

Opposite BSNL Telephone Exchange

Koramangala

Bengaluru,  560034

India

Founded in 2007

Phone:

91 80 3023 7000

Fax:

91 80 3023 7000

Key Executives for Flipkart Online Services Pvt. Ltd.

Co-Founder and Chief Executive Officer
Co-Founder and Chief Operating Officer
Interim Chief Financial Officer
President of Operations
Chief People Officer
Compensation as of Fiscal Year 2013.

Flipkart Online Services Pvt. Ltd. Key Developments

Flipkart Online And Myntra Merger Reportedly In Final Stage

Flipkart Online Services Pvt. Ltd. is in final stage to conclude a transaction to acquire Myntra Designs Pvt Ltd. as the two sides engage in last-minute haggling over valuation. People with knowledge of the talks said fashion portal Myntra is aiming for a valuation of $400 million. Negotiators are considering a "target valuation" of $350 million, and may push the offer to $370 million, but there is "no possibility" of valuing Myntra at $400 million, according to a source with direct knowledge of talks. Representatives of Flipkart and Myntra declined to comment. The timing of the transaction also takes into account an initial public offering of Flipkart's shares next year, most probably on the Nasdaq stock exchange in the United States, sources said. Common investors such as Accel Partners and Tiger Global Management LLC are expected to remain invested in Myntra along with PremjiInvest. The two companies now have three common investors Accel, Tiger and Sofina Société Anonyme (ENXTBR:SOF). Myntra's other investors are IDG Ventures India and Kalaari Capital.

Myntra Designs And Flipkart May Reportedly Get Into A Transaction

Myntra Designs Pvt Ltd. and Flipkart Online Services Pvt. Ltd. are close to a deal which could either be an acquisition or a partnership between the two companies. The companies are in talks for a commercial partnership, but an acquisition is also on the table," said a person with direct knowledge of the discussions. "All options are being explore." The two companies have three common investors Accel Partners, Sofina Société Anonyme (ENXTBR:SOF) and Tiger Global Management LLC. Accel and Tiger have been pushing for a merger for a few months according to several people with knowledge of the developments. However, Myntra's founders have not been too keen to conclude an outright acquisition. "They will prefer a financial investment where they can operate as a separate entity," said a person, who has worked as a consultant with Flipkart and Myntra.

Myntra Doesn’t Have Plans To Merge With Flipkart

Myntra Designs Pvt Ltd. is not planning to merge with Flipkart Online Services Pvt. Ltd. Mukesh Bansal, founder and Chief Executive Officer of Myntra, said, “Absolutely not, the speculation may have started because we have a common investor base. Our default option is not to sell. However, if the offer is exceptionally good and matches the vision of the company, the possibility of a sale cannot be ruled out. We have not considered anything like that so far.” Sachin Bansal, Chief Executive Officer of Flipkart, had a similar response to the rumour.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
July 10, 2013
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