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
Appliances Online Appliances Online Appliances Online is an Australian online retailer of white goods and home appliances based in Sydney, Australia. The company is a subsidiary of the family-run Winning Group, encompassing Big Brown Box and Winning Appliances. The company claims to have more than 300,000 customers nationwide. Appliances Online was established in 2005 by John Winning who had worked in retail appliance industry for eight years. Through daily interaction with customers, he spotted an opportunity in the market for a specialist online retailer of appliances and white goods. John Winning started the business with just a laptop, an 1800 number converted