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Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021
Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021
Sanchita DashFeb 19, 2021, 15:08 IST
BCCL
As Walmart-owned Flipkart moves towards a possibly $10 billion initial public offering (IPO), it seems to be shedding flab with a nearly $300 million write off in Jabong.
Flipkart India CEO Kalyan Krishnamurthy described 2020 as the year when the company turned ‘financially prudent’, without adding any details.
Judith McKenna, president and chief executive of Walmart International, said that even after Flipkart being shut for 53 days in 2020 due to the COVID-19 pandemic, the e-commerce business closed the year stronger than it started.
Chains prepare pharmacies and staff nationwide for vaccine delivery
Leading pharmacy retailers Walmart and Albertsons Cos. have administered their first coronavirus shots as they ramp up preparation and delivery of COVID-19 vaccinations across the country.
Walmart has begun giving the recently approved Moderna vaccine to health care workers at selected Walmart stores and Sam’s Clubs in New Mexico, Dr. Tom Van Gilder, chief medical officer at Walmart, said in a blog post on Wednesday. According to guidance from the Centers for Disease Control and Prevention (CDC), Walmart is prioritizing health care personnel, including pharmacy staff, for administration of COVID-19 immunizations in Phase 1a of the national vaccine allocation.
The social network favored by young audiences is used by more than 100 million Americans.
Walmart and Oracle are in the process of purchasing TikTok s U.S. operations. On Dec. 7, a federal judge blocked President Donald Trump s attempts to ban TikTok. Both Walmart and Oracle would have a financial stake in the platform.
In late October, TikTok created a channel for Shopify merchants to help them connect with new audiences through the video-sharing app s business functions.
Blake Chandlee, TikTok s vice president of global business solutions, said in a statement that creators and brands have found a creative outlet to connect with audiences through TikTok LIVE.