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
Dick Smith (retailer) stores, receivers Ferrier Hodgson announced, on 25 February 2016, that all 363 DSE stores in Australia and New Zealand would be closed, with the loss of 2,460 jobs. On 15 March 2016 it was revealed that Kogan.com, the online retailer founded by Ruslan Kogan, had acquired the Dick Smith brand, trademarks, intellectual property, and its online business in Australia and New Zealand for an undisclosed price. The last stores closed on 3 May 2016. On 25 July 2016 Dick Smith Electronics' creditors placed what was then left of the company in liquidation. Creditors were expected to lose up to A$260