Flipkart COO Nitin Seth looks to ‘bring back the DNA’ by rehiring old hands

Nitin SethE-commerce major Flipkart, which has seen continuous churn at the top level for the last few quarters, is quietly working to revamp its senior leadership team by bringing back old hands. At least half-a-dozen senior executives have returned to the company in the last few months. Flipkart COO Nitin Seth, who also oversees the human […]

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911—The number that spooked Snapdeal

Snapdeal-Boxes_feOn Wednesday, Snapdeal founders Kunal Bahl and Rohit Bansal said they will not take salaries for an undisclosed period as the company struggles to survive. Well, that makes financial and ethical sense. It’s ethically right because it takes a large heart to admit mistakes and share the pain of employees, many of whom are losing […]

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Snapdeal layoffs: In the works for months, but kept out of employees’ sight

Snapdeal_by-Junaid2For employees of India’s third-largest e-commerce firm Snapdeal, the last couple of weeks have been stressful, to put it mildly. The tension is palpable, with the HR calling everyone for a one-on-one session, a meeting that will decide whether they are headed towards the exit door or will manage to hold on to their job. […]

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Exclusive: Massive job cuts loom large at Yepme as funds dry up

YepmeDelhi-based VAS Data Services Pvt. Ltd, which operates fashion e-commerce firm Yepme.com, is going through trying times with the company looking to reduce headcount by 80-90% and forcing entire teams to resign. Several people that Techcircle has been speaking to for the past few months said on the condition of anonymity that both VAS Data […]

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Flipkart has no plans to cut jobs, says COO Nitin Seth

VCCircle_Flipkart8Flipkart’s chief operating officer Nitin Seth has allayed fears that employee rationalisation, which has been rearing its head in the country’s e-commerce sector, will engulf the company as well. “We had to go through that phase last year but with the growth we saw in the last quarter and January, and with February shaping up […]

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SAIF Partners checks out of MakeMyTrip with multi-bagger returns

MAKEMYTRIP-FEVenture capital and growth-equity investment firm SAIF Partners has fully exited MakeMyTrip Ltd, according to the Nasdaq-listed online travel services provider’s filings with the US Securities and Exchange Commission. The investment firm sold its remaining stake in MakeMyTrip in the October-December for about $150 million, according to VCCircle estimates. This takes the total amount that […]

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Delhi High Court orders probe into alleged fraud at AskMe

For-LawRato-Story-VC_Court_ThinkstockPhotos-509557490The Delhi High Court, while appointing a provisional liquidator for Getit Infoservices Pvt. Ltd earlier this month, also directed the Serious Fraud Investigation Office (SFIO) to probe allegations of misappropriation of funds and company assets. Getit, which ran e-commerce marketplace AskMe.com and a bunch of online retail ventures, became defunct in August last year when […]

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Two of three Indian startup founders say there is a ‘bubble’: InnoVen Report

report-tc-leadAlmost 65% founders and CXOs at Indian startups feel the ecosystem is in a bubble, and close to one in five among those (18%) feel the bubble is close to bursting, says India Startup Outlook Report 2017 released by venture debt firm InnoVen Capital. The report, which draws on startup leaders’ perspectives on matters such […]

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Ola shuts down Delhi offices as driver protests spiral out of control

OlaThe agitation by Ola and Uber drivers demanding better incentives got out of control in the national capital on Monday, with a group of protesters gathering around Ola’s offices in the city. People aware of the development told Techcircle that Ola was forced to shut down its all three offices following the protests and evacuate […]

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Two more senior execs leave Flipkart

flipkartIndia’s largest e-commerce marketplace Flipkart has suffered another bout of senior-level exits at its engineering team, a national daily reported on Friday. Citing unnamed people aware of the development, The Times of India reported that Ashish Gupta, vice president, engineering, and Ashish Vikram, vice president, engineering (ad and big data) are leaving the firm. Gupta, […]

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