Brief

Indian E-Commerce Company Flipkart to Set Up Tel Aviv Research Center, Report Says

Indian daily newspaper The Economic Times reported Tuesday that Flipkart is setting up an Israeli center focused on cybersecurity and cloud technology

Indian e-commerce company Flipkart Internet Private Ltd. is setting up a Tel Aviv research and development center to focus on cybersecurity, data protection, and cloud technologies, Indian daily newspaper The Economic Times reported Tuesday, citing sources. Flipkart is hiring for a local management team and actively scouting Israeli startups for potential acquisitions, the report said.

Flipkart founders Binny Bansal (left) and Sachin Bansal. Photo: Flipkart

 

Headquartered in Bangaluru, Flipkart is India’s leading e-commerce company with over 100 million registered users, more than 100,000 sellers, and over 80 million products on offer, according to the company’s website. In August 2018, American retail giant Walmart paid $16 billion for a 77% stake in Flipkart.

 

In September 2018, Flipkart bought Israeli retail analytics provider Upstream Commerce Inc. in a deal valued at $40 million to $50 million, according to one person familiar with the matter.