E-commerce major Flipkart has shut down its arm ANS Commerce and laid off its entire workforce, according to a source.
Founded in 2017, the firm was providing all support, including marketing tools, warehousing, etc to entities that wanted to sell their product online.
It was acquired by Flipkart in 2022.
- Also read: India’s quick commerce to grow 75-100% YoY, outpacing traditional retail: Bernstein Report
When contacted, Flipkart confirmed the development.
“After careful consideration, ANS Commerce, a full-stack e-commerce enabler that was acquired by Flipkart in 2022, has decided to close its operations. As we wind down operations, we stay committed to ensuring a smooth transition for all stakeholders, including employees and customers.
- Also read: Flipkart Ventures selects five startups for Leap Ahead cohort, offers up to $500K investment
“To minimize the impact on employees during this transition, we plan to offer internal opportunities at Flipkart, outplacement services, and severance packages,” Flipkart said.
The number of employees impacted by the closure could not be ascertained. ANS Commerce had 600 employees at the end of FY22.