Walmart

The Walmart-backed firm is rebuilding its tech stack under 'OneTech', adopting AI-first systems and strengthening governance as it prepares for a potential IPO as early as next year

E-commerce major Flipkart on Friday said its Group Chief Financial Officer (CFO) Sriram Venkataraman will be stepping down from his role. Venkataraman will remain with the company "for a period of time" to ensure continuity and a smooth transition, a company statement said. During this interim period, Ravi Iyer, CFO of Flipkart, will oversee the broader finance organisation, the statement added. Alongside the top-level transition, the Walmart-backed firm announced the appointment of Nishant Verman, who is rejoining the company as Senior Vice President, Corporate Development and Partnerships. Verman returns to Flipkart following his entrepreneurial venture, Bzaar, a cross-border exports platform. He has previously worked with Microsoft's Corporate Development team and in tech investment banking at Morgan Stanley. Established in 2007, the Flipkart Group includes companies such as Flipkart, Myntra, Flipkart Wholesale, Cleartrip, and super.money.

Flipkart has completed shifting its holding company from Singapore to India, removing a key hurdle for a potential domestic listing as it strengthens governance and readies for an IPO

Walmart will trim its stake in PhonePe by about 12 per cent in the firm's initial public offering, while Tiger Global and Microsoft plan to exit their stakes, according to the firm's IPO filing

Walmart is having more success developing its e-commerce operation than Amazon is having in creating a physical stores business despite its 2017 acquisition of Whole Foods Market

Walmart-owned fashion e-commerce platform Myntra on Saturday announced the appointment of Pramod Adiddam as its Chief Technology Officer (CTO), effective immediately. Adiddam takes over the technology leadership role following the departure of Raghu Krishnananda, who served as the Chief Product and Technology Officer (CPTO) for over five years before leaving the organisation in April 2025. In his new role, Adiddam will oversee Myntra's overall technology strategy, focusing on innovation, long-term platform elasticity and technical capabilities to support the organisation's scale and momentum, Myntra said in a statement. Adiddam brings over two decades of experience in building and operating large consumer-facing platforms. Before joining Myntra, he held senior leadership roles at Google and Instacart, where he led global engineering teams across platform development and marketplace expansion. Commenting on the appointment, Myntra CEO Nandita Sinha said, "Technology underpins Myntra

Walmart has crossed a $1 trillion market capitalisation, becoming the first retailer in the world to do so. The milestone reflects its rapid digital expansion, growing e-commerce

In his first companywide memo since taking over on Feb 1, Furner said he had a "simple ask: Tell me one thing that slows you down or makes it harder to do your job"

Walmart's entry is significant because trillion-dollar valuations are usually linked to technology firms

PhonePe shareholders -- Walmart, Tiger Global and Microsoft Global Finance will offload stakes worth around Rs 10,115 crore through the company's forthcoming IPO, according to updated draft papers of the fintech firm. The IPO is entirely an Offer-for-Sale (OFS) by existing shareholders. The company will not be raising any additional primary capital in the Initial Public Offering (IPO). PhonePe promoter WM Digital Commerce Holdings Pte will sell 45,942,496 of 3,71,517,890 shares or about 0.12 per cent stake in the company through the OFS valued at Rs 1,996.8 per share, based on the weighted average cost of acquisition per equity share. Singapore-based WM Digital Commerce Holdings Pte. Ltd is the Walmart-controlled promoter entity of PhonePe. Tiger Global PIP 9-1 will sell 10,39,160 shares, and Microsoft Global Finance Unlimited Company will offload 36,78,790 shares. The total shares to be offloaded through the OFS are valued around Rs 10,115.87 crore based on the weighted-average

The US-based investment firm's substantial sale of Flipkart's stake to Walmart Inc. was one of the largest exits by a foreign investor in the Indian e-commerce sector

She will remain in her role until the end of the month and stay at Walmart through the first quarter 'to help ensure a smooth transition'

Tiger Global and Indian tax authorities have been locked in a legal tussle over its 2018 stake sale in Indian e-commerce company Flipkart to Walmart worth ₹14,440 crore ($1.6 billion)

Walmart's addition follows its move last year to shift its stock listing from the New York Stock Exchange to Nasdaq, the largest exchange transfer on record

Flipkart's proposed public offering would be the second by a Walmart-owned entity after PhonePe, which relocated its domicile to India in October 2022

McMillon, 59, will be replaced by U.S. division chief CEO John Furner, 51, a veteran with three decades at the company

Walmart has paused hiring workers needing H-1B visas after the Trump administration introduced a $100,000 fee, creating uncertainty for employers and foreign employees

The Trump administration last month slapped a $100,000 fee for new H-1B applications in a bid to overhaul the visa programme and curb overuse

Super.money is a fintech unit of Flipkart which was launched in 2024. In less than a year, it has now become the fifth-largest UPI app in India, handling 275 mn transactions

Flipkart has named Balaji Thiagarajan, an industry veteran with 25 years' experience at Google, Microsoft, Uber and Yahoo, as its new chief technology and product officer