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
Jay Jacobs (retailer) Jay Jacobs (retailer) Jay Jacobs was a clothing retailer based in downtown Seattle, Washington, founded in 1941 by its namesake Jay Jacobs (October 13, 1911 - February 15, 2013). It specialized in trendy clothing for teens, mainly targeting girls. Although the company's first 20 years saw the opening of only two more stores, it was largely profitable at its height in the mid-1980s and operated 288 stores in 22 western states by 1993. However, 1992 saw a major about face from success and many of the stores, especially in southern California, were becoming unprofitable and were closed. Although the cause