Flipkart to Close ANS Commerce: A Significant Move in E-commerce
Flipkart has announced the closure of ANS Commerce, its full-stack e-commerce enabler, three years after its acquisition of the Gurugram-based company, as per sources familiar with the situation told Startup Superb. A source, who chose to remain anonymous, stated that “Flipkart has made the decision to shut down ANS Commerce and has laid off a number of employees associated with it.”
In a confirmation to Startup Superb, a spokesperson for Flipkart remarked, “After thorough evaluation, it has been decided that ANS Commerce, a full-stack e-commerce enabler acquired in 2022, will cease its operations. As we gradually wind down, our commitment remains strong towards ensuring a smooth transition for all stakeholders, which includes employees and clients.”
The spokesperson further added, “To reduce the impact on employees during this transition, we intend to provide internal job opportunities at Flipkart, options for outplacement services, and severance packages.”
About ANS Commerce
Founded by Amit Monga, Vibhor Sahare, Sushant Puri, and Nakul Singh, ANS Commerce operates as a complete e-commerce enabler offering services that include store technology, performance marketing, marketplace management, e-commerce warehousing, and fulfillment. The organisation has collaborated with over 100 brands, including names such as Jack & Jones, Vero Moda, HUL, Piramal, Lakme, Nivea, Oziva, CEAT, and Bikanervala.
ANS Commerce secured $2.2 million during its pre-Series A funding round, led by Gokul Rajaram and Venture Catalysts back in October 2021. Sources indicated that the acquisition of ANS Commerce occurred in a deal valued between Rs 250-300 crore ($35-40 million) three years prior. Startup Superb was the first to report on this acquisition at that time.
Current Status
This story is still developing…