CURRENT AFFAIRS

Detailed explanation-1: -Jabong.com was an Indian fashion and lifestyle e-commerce portal founded by Praveen Sinha, Lakshmi Potluri, Arun Chandra Mohan and Manu Kumar Jain. In July, 2016 Flipkart acquired Jabong through its unit Myntra for about $70 million.

Detailed explanation-2: -Myntra is a major Indian fashion e-commerce company headquartered in Bengaluru, Karnataka, India. The company was founded in 2007-2008 to sell personalized gift items. In May 2014, Myntra.com was acquired by Flipkart.

Detailed explanation-3: -Myntra Jabong India Private Limited is a 7 years 10 months old Private Company incorporated on 20 Mar 2015. Its registered office is in Bangalore, Karnataka, india. The Company’s status is Active, and it has filed its Annual Returns and Financial Statements up to 31 Mar 2022 (FY 2021-2022).

Detailed explanation-4: -Flipkart had acquired fashion e-commerce platform Myntra in May 2014. Soon after the Walmart acquisition in November 2018, Flipkart merged both Myntra and Jabong, which gave way to 150 employees being laid off.