Flipkart back to the company for approximately US$1.1 billion, and re-launch its own Indian operations. The company stated that "there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India's diverse, domestic market." Softbank Group also sold its entire 20% stake to Walmart, without disclosing terms of the sale. The acquisition was completed on 18 August 2018. Walmart also provided US$2 billion in equity funding to the company. On 13 November 2018, Flipkart CEO Binny Bansal resigned, after facing an allegation of "serious personal misconduct". Walmart stated that "while the investigation did not
Thomann (retailer) to tap into a market segment that a few years ago nobody believed could be served through internet retail" Thomann sells several store brands, including: Thomann (retailer) Musikhaus Thomann is a German-based retailer of musical instruments, studio, lighting, and pro-audio equipment. Thomann became widely known primarily due to its large online retail operation, Thomann Cyberstore. According to a 2014 article in the largest Upper Franconian newspaper based in Bavaria, the "Fränkischer Tag" , Musikhaus Thomann is the largest online retailer of its category of merchandise, worldwide. Hans Thomann, Sr., founded the company years ago (in 1954) as a family business