Flipkart find evidence to corroborate the complainant's assertions against Binny, it did reveal other lapses in judgment, particularly a lack of transparency, related to how Binny responded to the situation." In a report dated 25 November 2014, a leading media outlet reported that Flipkart were operating through a complex business structure which included nine firms, some registered in Singapore and some in India. In 2012, Flipkart co-founders sold WS Retail to a consortium of investors led by Rajeev Kuchhal. Initially, the Bansals spent on developing the site. Flipkart later raised funding from venture capital funds Accel India (US$1 million in 2009)
Great Online Shopping Festival day that follows the U.S. Thanksgiving. Cyber Monday started in 2005 and the concept has spread to several countries including Canada, Japan, Australia, Colombia, and the U.K.. In China a similar day of online shopping is observed on November 11, which is known as "Singles Day". The first Great Online Shopping Festival in 2012 was advertised on YouTube and via posts on Google Plus. For the event, Google partnered with a number of ecommerce sites such as Flipkart, HomeShop18, Snapdeal, Indiatimes shopping, Infibeam and Makemytrip, which would participate in the GOSF. The ecommerce sites created dedicated landing pages for GOSF.