IGP (e-gifting retailer) Karamchand Appliances and Tarun Joshi, Director, PE firm, 3i. In December 2017, the company raised an undisclosed amount of Pre Series funding from the VC firm, Venture Catalysts. IGP (e-gifting retailer) IGP (formerly known as IndianGiftsPortal) is an Indian online gifting company based in Mumbai, India founded in 1999. IGP claims to be the largest platform for Indian ethnic products and gifts and has the largest collection of products that caters to Indian festivals and events. IGP has five warehouses, including one in the US. IGP earlier known as IndianGiftsPortal was founded in 1999 by B2B e-commerce company IndiaMART and
Flipkart five days). On 4 May 2018, it was reported that the US retail chain Walmart had won a bidding war with Amazon to acquire a majority stake in Flipkart for US$15 billion. On 9 May 2018, Walmart officially announced its intent to acquire a 77% controlling stake in Flipkart for US$16 billion, subject to regulatory approval. Following the proposed purchase, Flipkart co-founder Sachin Bansal left the company, while the remaining management now report to Marc Lore, CEO of Walmart eCommerce US. Walmart president Doug McMillon cited the "attractiveness" of the market, explaining that their purchase "is an opportunity to partner