15. Anirban Sen and Shrutika Verma. 2017. ‘Flipkart replaces Binny Bansal with Kalyan Krishnamurthy as CEO’, Livemint, 10 January, available at https://www.livemint.com/Companies/DyAMlbXXJ08b3m6zVYvEON/Flipkart-replaces-Binny-Bansal-with-Kalyan-Krishnamurthy-as.html
16. Mihir Dalal and Anirban Sen. 2017. ‘How Flipkart got back in the game’, Livemint, 23 February, available at https://www.livemint.com/Companies/UYyYvB3UCV73lP26Uh10CP/How-Flipkart-got-back-in-the-game.html
17. Based on statements made in interviews to the author.
18. A down round is a capital infusion into a private company in which it sells its shares at a lower price than any of its previous financing rounds.
19. Mihir Dalal and Anirban Sen. 2017. ‘Flipkart raises $1.4 billion from eBay, Microsoft, Tencent, acquires eBay India’, Livemint, 11 April, available at https://www.livemint.com/Companies/RjjyJUShEtiZ2DjgzUBczM/Flipkart-to-buy-eBay-India-as-part-of-14-billion-fundrais.html
23 THE SON
1. Shrutika Verma. 2016. ‘GMV is so 2015: Snapdeal CEO Kunal Bahl’, Livemint, 8 July, available at https://www.livemint.com/Companies/Is7DaiQTryifFa8OPNpVeJ/GMV-is-so-2015-says-Snapdeal-CEO-Kunal-Bahl.html
2. Tracxn data
3. Shrutika Verma and Mihir Dalal. 2017. ‘Snapdeal acquisition to benefit Tiger Global more than Flipkart’, Livemint, 21 April, available at https://www.livemint.com/Companies/j90l1s80uF5WjxpOtQBahP/Snapdeal-acquisition-to-benefit-Tiger-Global-more-than-Flipk.html
4. Shrutika Verma and Mihir Dalal. 2017. ‘Snapdeal’s co-founders hint firm’s fate not in their hands ‘, Livemint, 10 April, available at https://www.livemint.com/Companies/thfpvAkDTUPb5oSmquLYRN/Snapdeal-founders-move-to-calm-employees-amid-rumours-of-Fli.html
5. Mihir Dalal and Shrutika Verma. 2017. ‘Snapdeal misses out on funding as SoftBank feuds with Kalaari, Nexus‘ Livemint, 31 March, available at https://www.livemint.com/Companies/o5auXKZnB9updwQk45sqTI/Snapdeal-misses-out-on-funding-as-SoftBank-feuds-with-Kalaar.html
6. Based on statements made in interviews to the author.
7. Mihir Dalal and Anirban Sen. 2017. ‘Snapdeal-Flipkart deal falls apart in win for founders Kunal Bahl, Rohit Bansal’, Livemint, 1 August, available at https://www.livemint.com/Companies/CAQ1JvAmT7uNDCpOLLKXfM/Snapdeal-wont-sell-to-Flipkart-to-run-on-its-own.html
8. Mihir Dalal and Anirban Sen. ‘Flipkart’s big billion day, courtesy SoftBank’, Livemint, 11 August, available at https://www.livemint.com/Companies/7Ws4blkEFk1RVg7m8Y6q6J/SoftBank-fund-invests-in-Flipkart-after-Snapdeal-takeover-co.html
9. Anirban Sen and Mihir Dalal. 2017. ‘Snapdeal calling off sale may benefit Flipkart the most’, Livemint, 2 August, available at https://www.livemint.com/Companies/6aRyQLUTwhlEjOsrpbZ5PM/Snapdeals-decision-to-go-solo-may-benefit-Flipkart-the-most.html
10. Robert Hof. 2011. ‘Tech Startup Secrets of Bill Campbell, Coach of Silicon Valley’, Forbes, 27 July, available at https://www.forbes.com/sites/roberthof/2011/07/27/startups-secrets-of-bill-campbell-the-coach-of-silicon-valley/#5184295b6931
11. Based on statements made in interviews to the author.
12. Mihir Dalal and Anirban Sen. 2017. ‘Flipkart launches “made for India” budget brand Billion’, Livemint, 31 July, available at https://www.livemint.com/Companies/qpeSAKzWaGvBmVbAEF5zAP/Flipkart-launches-made-for-India-budget-brand-Billion.html
24 A JOURNEY TO BENTONVILLE
1. Hamish McDonald. 2010. Ambani & Sons. Lotus.
2. Yuvraj Malik. 2018. ‘Flipkart FY17 loss widens 68% to Rs8,771 crore, revenue up 29%’, Livemint, 3 February, available at https://www.livemint.com/Companies/GlgtSXUpAdTYw3wsnGBZFP/Flipkart-FY17-loss-widens-68-to-Rs8771-crore-revenue-up-2.html
3. Anirban Sen. 2018. ‘Amazon, Flipkart power new user base growth in e-commerce in India’, Livemint, 20 December, available at https://www.livemint.com/Companies/lurjUhGPebAdExiucyJeAN/Amazon-Prime-Flipkart-Plus-lead-ecommerce-user-base-growth.html
4. Walmart. 2017. Annual Report. Available at https://s2.q4cdn.com/056532643/files/doc_financials/2017/Annual/WMT_2017_AR-(1).pdf
5. Brian O’Keefe. 2015. ‘The Man Who’s Reinventing Walmart’, Fortune, 4 June, available at https://fortune.com/2015/06/04/walmart-ceo-doug-mcmillon/
6. Bloomberg. 2014. ‘Greg Penner Emerges as Heir to Wal-Mart’s Chairmanship’, 9 June, available at https://www.esmmagazine.com/retail/greg-penner-emerges-as-heir-to-wal-mart-s-chairmanship-5133
7. Rasul Bailay. 2018. ‘How Greg Penner went all guns blazing for Flipkart’, Economic Times, 10 May, available at economictimes.indiatimes.com/articleshow/64104098.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
8. Shrutika Verma and Mihir Dalal. 2018. ‘Flipkart dialled Amazon after Walmart revived deal talks’, Livemint, 6 April, available at https://www.livemint.com/Companies/76rtJCuWWfZvyUmcCcoPhL/Flipkart-dialled-Amazon-after-Walmart-revived-deal-talks.html
9. Anirban Sen and Mihir Dalal. 2018. ‘Flipkart Walmart deal would be good for e-commerce: Amazon India head’, Livemint, 23 April, available at https://www.livemint.com/Companies/Y2dY7W35z2MRMA4UEgCvWP/Flipkart-Walmart-deal-would-be-good-for-ecommerce-Amazon-I.html
10. Sunny Sen. 2018. ‘Is Binny Bansal saying bye to Flipkart in the Walmart sellout?’, FactorDaily, 26 April, available at https://factordaily.com/walmart-flipkart-deal-binny-bansal-exit/
11. Mihir Dalal and Shrutika Verma. 2018. ‘The behind-the-scenes story of Sachin Bansal’s exit from Flipkart’, Livemint, 18 May, available at https://www.livemint.com/Companies/9743fblAncsi4dbfOxCxRM/The-story-of-Sachin-Bansals-exit-from-Flipkart.html
12. Shrutika Verma, Mihir Dalal and Anirban Sen. 2018. ‘Walmart buys Flipkart for $16 billion, shifts battle with Amazon to India’, Livemint, 9 May, available at https://www.livemint.com/Companies/PltclXOj0whPWMGUFWqs9O/Walmart-buys-controlling-stake-in-Flipkart-for-16-billion.html
13. Mihir Dalal and Shrutika Verma. 2018. ‘Sachin Bansal: From outsized Flipkart presence to outcast’, Livemint, 12 May, available at https://www.livemint.com/Companies/7TpoCOdT6RSoRlVVeZyptJ/Sachin-Bansals-changing-fortunes-From-outsized-Flipkart-pr.html
14. Mihir Dalal and Shrutika Verma. 2018. ‘Sachin Bansal: From outsized Flipkart presence to outcast’, Livemint, 12 May, available at https://www.livemint.com/Companies/7TpoCOdT6RSoRlVVeZyptJ/Sachin-Bansals-changing-fortunes-From-outsized-Flipkart-pr.html
EPILOGUE
1. Anirban Sen and Mihir Dalal. 2018. ‘Flipkart-Walmart deal crosses key CCI hurdle’, Livemint, 8 August, available at https://www.livemint.com/Companies/h63fBTnFc7HE8WBaufifAN/FlipkartWalmart-deal-gets-CCI-approval.html
2. Anirban Sen and Mihir Dalal. 2018. ‘Binny Bansal resigns from Flipkart over charges of personal misconduct’, Livemint, 14 November, available at https://www.livemint.com/Companies/FaAYjt9xkHNObVOiNAWfkN/Binny-Bansal-resigns-as-CEO-of-Flipkart-group.html
3. Samidha Sharma and Madhav Chanchani. 2018. ‘Binny Bansal was informed of probe by Walmart lawyers on Monday’, Economic Times, 15 November, available at https://tech.economictimes.indiatimes.com/news/internet/binny-bansal-was-informed-of-probe-by-walmart-lawyers-on-monday/66628361
4. Anirban Sen and Mihir Dalal. 2018. ‘Binny Bansal resigns from Flipkart over charges of personal misconduct’, Livemint, 14 November, available at https://www.livemint.com/Companies/FaAYjt9xkHNObVOiNAWfkN/Binny-Bansal-resigns-as-CEO-of-Flipkart-group.html
5. Reuters. 2018. ‘Flipkart’s Binny Bansal denies allegations of personal misconduct’, 13 November, available at https://www.livemint.com/Companies/j1YnAeiKqUdIEgZ68M0jRM/Flipkarts-Binny-Bansal-denies-allegations-of-personal-misco.html
6. Saritha Rai and Matthew Boyle. 2018. ‘How Walmart decided to oust Binny Bansal, an icon of the tech industry’, Bloomberg, 15 November, available at https://www.hindustantimes.com/business-news/how-walmart-decided-to-oust-an-icon-of-india-s-tech-industry/story-oC6UlvCt9WxknrGgGE3tjJ.html
7. Vivienne Walt. 2015. ‘Amazon Invades India’, Fortune, 28 December, available at https://fortune.com/longform/amazon-india-jeff-bezos/
8. LinkedIn. Lee Fixel. Available at https://www.linkedin.com/in/leefixel/
9. Sankalp Phartiyal. 2018. ‘Walmart may launch Flipkart IPO in as early as 4 years’, Reuters, 12 May, available at https://www.livemint.com/Companies/LPNtdifRIolqoeKu6WWc3N/Walmart-may-launch-Flipkart-IPO-in-as-early-as-4-years.html
10. Saritha Rai. 2018. ‘Walmart got a $10 billion PhonePe surprise after buying Flipkart’, Bloomberg, 10 July, available at https://www.livemint.com/companies/news/walmart-got-a-10-billion-phonepe-surprise-after-buying-flipkart-1562726957843.html
11. LinkedIn. Sachin Bansal, available at https://www.linkedin.com/in/sachinbansal/
INDEX
A9 ref1, ref2, ref3; project as Google Killer ref1
Accel ref1, ref2, ref3, ref4, ref5; funding from ref1
Accel Partners ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11, ref12, ref13, ref14, ref15
accounting process, new ref1
AdIquity ref1
Adnani, Michael ref1, ref2
advertising business ref1, ref2, ref3, ref4; shutting down of ref1
advertising: campaigns ref1; expenses ref1; first campaign ref1; revenues ref1, ref2, ref3; team for mobile apps ref1
‘affordability construct’ ref1
Agarwal, Amit, as ‘Jeff Bot’ ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11, ref12
Agarwal, Anil ref1
Agarwal, Ankit ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11, ref12, ref13, ref14; exit of ref1
Agarwals ref1
Age of Empires ref1, ref2
Aggarwal, Bhavish ref1
Agrawal, Ashish ref1, ref2, ref3
Ali, Sujayath ref1, ref2
Alibaba ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11, ref12, ref13, ref14, ref15; valuation of ref1
Alkeon Capital ref1
Amarnath, N. S. (Amar) ref1
Amazon ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11, ref12, ref13, ref14, ref15; advancing ref1; in Bangalore ref1, ref2; for buying Flipkart ref1; ‘capital-dumping’ ref1; and China venture ref1, ref2, ref3; corporate culture in ref1; customer happiness in ref1; ‘The Emperor Has No Clothes’ award ref1; Great Indian Festival ref1; investigative story on work culture ref1; launch in India ref1, ref2, ref3; launching Junglee ref1; ‘leadership principles’ in ref1; Mission to Mars sale ref1; motto: Get Big Fast ref1; overtaking Snapdeal ref1; playbook ref1, ref2; Prime membership service ref1;
