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
Gadzooks (retailer) Gadzooks (retailer) Gadzooks, Inc. was a mall-based teenage clothing retailer. It was acquired by Forever 21 in 2005 and then shut down. The company logo included the Volkswagen Beetle and all stores had a life-size version of part of a Beetle inside. The company was founded in 1983 as a T-shirt business by Jerry Szczepanski and Larry Titus. The first store was in Mesquite, Texas. By 1992, the company had 33 stores in Texas. In 1995, the company became a public company via an initial public offering and within 3 months, the share price quadrupled from $15 to $61. That