Walmart may see discount for Flipkart acquisition with rupee fall; GetMyParking acquires Constapark


The depreciation of the rupee may come as a boon for Walmart for its proposed deal to acquire a significant stake in Flipkart, as it would have to shell out a lot lesser. With the rupee value falling, and experts saying the worst is yet to come with several predicting a breach of the 68 mark against the dollar, Walmart will look to take advantage of the situation and cut down its Flipkart’s acquisition cost. The rupee has already depreciated five percent so far this year, and is currently quoted between 66.5 and 66.9 against the dollar.

The rupee depreciation is an acquirer’s discount for entities like Walmart and Amazon looking at India acquisitions

Delhi-based startup GetMyParking, which enables vehicle parking through an app, has acquired Bengaluru-based startup Constapark for an undisclosed amount. The founders and team of Constapark, which offers parking solutions in Bengaluru, will now join the Bengaluru office of GetMyParking. Functional only in Bengaluru, Constapark is an on-demand valet parking service. It aims to ease the process of parking cars by optimising the limited parking space available in the city.

L to R: Rasik Pansare and Chirag Jain (Co-founders of GetMyParking), and Mehul Pangtey and Chetan Chauhan (Co-founders of Constapark)

There is an imperative need for organisations to secure their systems in an increasingly “vulnerable” world, where hack codes are being used, reused and injected into the “supply chain” in no time. Even small and medium enterprises aren’t spared from malware attacks, data theft, privacy invasion, etc. But, cybersecurity as a concept continues to be alien to most organisations. According to a study conducted by Cisco, as many as 71 percent of executives believe that cybersecurity hinders innovation.

Now get the Daily Capsule in your inbox. Subscribe to our newsletter today! 


Updates from around the world