The two logistics majors are in separate discussions with Jasper Infotech to acquire outrightly or pick up a majority stake in the ecommerce company's in-house logistics arm.
In March, Flipkart recorded an average of 5 lakh shipments every day, while Amazon closed in with about 4.5 lakh daily shipments.
An associate director at Flipkart, Pagadala is a part of the captive logistics unit Ekart and was responsible for designing almost all of 17 fulfilment centres at the company.
With this offer, the marketplace aims to make the most of high margins and prices that the large appliances segment offers.
This will provide employees of One 97 Communication, holding unvested ESOPs in the company, “commensurate“ stock options in Paytm E-commerce as well.
Faasos, which runs on a cloud-kitchen model offering four in-house brands on its platform, pivoted from a multi-brand marketplace model in 2015.
The new line of business will compete directly with existing players like Sodexo and Ticket Restaurant which issue physical coupons at present.
Cab aggregator gets on the road to partner with restaurants; looking to hire staff to create network for on-demand food delivery
Naspers, which has backed companies like Flipkart and owns about a third of travel portal MakeMyTrip, is expected to invest $50-60 million as a part of the funding round.
The lower valuation in the current round has resulted in a price-drop in shares issued to the employees who hold Employee Stock Options issued when the company was valued higher.
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