Online Marketplace, Flipkart has put the record straight by stating that it is currently not in talks with anyone to raise funds. This comes after the recent news that Alibaba was planning to invest in the Indian ecommerce leader.
“We are not in talks with anyone to raise funds. We are well-capitalised for the long term. We believe in raising funds when they are available and always at the right valuation,” stated a Flipkart spokesperson.
Mystery shopper initiative clamps down on sellers
In October, IOS reported on Flipkart’s initiative to catch fraudulent sellers on its platform by using in-house Flipkart employees, deployed as spies. This programme seems to be growing from strength to strength as Flipkart has already caught and penalised 500 sellers for selling sub-standard products.
Alleged seller offences include:
- Selling poor quality items
- Not fulfilling deliveries
- Wrong packaging & price labels used
- Selling fake goods
“We have received feedback of over 600 sellers. We took necessary action against 500 and blacklisted 40-50% of them,” said Sachin Kotangale, senior director at Flipkart.
Binny’s email spoofed
Just as Flipkart’s mystery shoppers started to clamp down on fraudulent sellers, Flipkart became a victim of a different crime.
It has now come to light that nearly a fortnight back, Flipkart’s CEO Binny Bansal had his email spoofed. Fraudsters sitting in Canada and Hong Kong reportedly requested CFO Sanjay Baweja to transfer a whopping $80,000. The incident was reported to the police, after Sanjay checked with Binny.
“We would like to clarify it is not a case of hacking. Flipkart’s corporate email system leverages the highest standards of security including but not limited to two factor authentication. We have filed a case of email spoofing which involves use of a forged email header to make it look like a legitimate email. This case of email spoofing was immediately detected and a report was filed with the police,” read a Flipkart statement.