Flipkart Unit Losses Increase 40% to 1,624 Crores

Flipkart Internet, the unit that manages the online platform, has announced a 40% increase in its losses, which amounted to 1,624 million rupees for the year ended March 31, 2019, after being able to reduce them by almost 30% in the previous financial year. This means that the company has begun investing for expansion under the new owner, Walmart.

The unit's revenue increased by 51 percent to Rs 4,234 crore during the year compared with the previous year, according to information from the Ministry of General Affairs. The US retail giant, Walmart, acquired 77% of Flipkart's capital for $ 16 billion in August 2018.

After that, the two co-founders of the Indian giant e-tails - Sachin and Binny Bansal - have left their operating duties. Flipkart's costs have mostly increased in personnel costs, which have almost doubled, even though advertising and marketing expenses have increased in addition to legal costs.

"The company's goal is to pursue continued revenue growth while minimizing losses incurred as a result of increased exposure to credit risk. The company trades only with recognized and solvent third parties, "says the document.

The services of the marketplace - commissions it charges the sellers - amounted to 1,983 crores of rupees. Logistics costs amounted to 996 million rupees while advertising revenue doubled to 576 billion rupees.

Wage costs, including wages and ESOP, increased by 91 percent to 1,889 crores of rupees, while advertising and promotional expenses increased by 56 percent to 1,141 crore. Legal fees rose 68 percent to 377 million rupees.

In the announcement of the Flipkart case, Walmart said it expected losses of $ 1.5 billion in 2019 for the company. Flipkart's parent company is registered in Singapore and operates in India through several units. Its main online retail business is Flipkart Internet and Flipkart India, the wholesale unit that has been used to purchase exclusive merchandise.

It has other payment units, logistics and recently set up Flipkart FarmerMart for its foray into retail food products.

Instagram, against bullying comes the Silence button, here's how it works

It is essentially a function to block another user in complete safety and anonymity. It is now active also in Italy.

Instagram has announced two new features against bullying

The first is called Silenzia and is already available. If it is selected by a user in relation to someone, his comments on his posts will only be visible to the profile holder. You can choose to make the comments of a silenced person visible to others by approving them. The silenced person will not be able to see when the user is active on Instagram or when he has read his direct messages.

How does it work. It is essentially a function to block another user in complete safety and anonymity. Users can silence someone by scrolling to the left a comment, through the Privacy section in Settings or directly on the profile of the account that you intend to silence. Once activated, comments on one's silenced person's posts will be visible only to the latter. You can choose to view the comment by clicking on "View comment" and approve it, so as to make it visible, delete it or ignore it. If you silence someone you will not receive any notification regarding the comments made by the silenced account. Direct messages will be automatically moved to message requests without receiving notification. The messages will remain visible, but the silenced person will not be able to see if the user has read his direct messages or if he is active on Instagram.


Removing the "Silence" option, future messages of the previously silenced person will be visible again in the inbox.

The other feature is based on artificial intelligence that notifies people when their comment can be considered offensive before it is published. "It gives people the opportunity to reflect and cancel their comment and prevents the recipient from receiving notification of the comment. From the first tests performed on this feature, it was discovered that it encourages some people to cancel their comment and share something less offensive after they have had a chance to think about it, "explains Adam Mosseri, head of Instagram.