Flipkart is reportedly shutting down ANS Commerce, its full-stack e-commerce enabler. According to a report in Entrackr, Flipkart has decided to shut down ANS Commerce, its full-stack e-commerce enabler, three years after acquiring the Gurugram-based company. “Flipkart has decided to shut down ANS Commerce and has also laid off several employees associated with it,” said the report quoting sources.
The decision comes despite a 39.4% increase in ANS Commerce’s operating revenue to Rs 54 crore in FY24, though its net loss widened to Rs 73.8 crore.
A Flipkart spokesperson confirmed the closure. “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,” the spokesperson said.
Sources familiar with the matter revealed the shutdown and layoffs to Entrackr, noting that ANS Commerce was acquired for Rs 250-300 crore ($35-40 million) three years ago.
The company, founded by Amit Monga, Vibhor Sahare, Sushant Puri, and Nakul Singh, provided services like store tech, performance marketing, and warehousing to over 100 brands. These brands include Jack & Jones, Vero Moda, HUL, and Lakme.
ANS Commerce had previously raised $2.2 million in a pre-Series A round in 2021.
