Former Housing CEO Jason Kothari takes the helm at FreeCharge

Jason-Kothari_CEO-Freecharge-01_feE-commerce firm Snapdeal, operated by Jasper Infotech Pvt Ltd, has appointed Jason Kothari as the new chief executive officer of mobile recharge platform FreeCharge. Kothari will also continue his key leadership role as chief strategy and investment officer at Snapdeal, the company said in its statement. He replaces Govind Rajan, who exactly a month ago […]

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Two senior executives resign from Snapdeal’s Bangalore centre

SnapdealE-commerce firm Snapdeal, owned by Jasper Infotech Pvt. Ltd, continues to see senior-level churn. This time, the company’s two associate vice presidents Balaji Hariharan and Hemanth Kota have resigned, a report in The Economic Times stated citing people aware of the development. Hariharan served as the head of growth and product management at Snapdeal Payments […]

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Why Inventus’ Kanwal Rekhi doesn’t regret giving Flipkart, Snapdeal a miss

Kanwal RekhiMany moons ago, Kanwal Rekhi and John Dougery, the founding partners of Inventus Capital, carefully examined two fledgling e-commerce ventures but passed up the investment opportunity. The two startups—Flipkart and Snapdeal—have eventually gone on to become unicorns valued several billion dollars. However, the Indian-American businessman and investor Rekhi has no regrets about not taking a […]

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Exclusive: Amazon elevates India head Amit Agarwal

For-Amazon-Amit-Agarwal-Story-TC_ThinkstockPhotos-1809439971US-based Amazon.com, Inc. has elevated India chief Amit Agarwal to senior vice president (SVP), making him one of the few SVPs at the e-tailing giant globally, a person familiar with the development told VCCircle. The meatier role is a likely reward for Agarwal’s successful efforts in building the India business organically despite the presence of […]

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Axis Bank limits support for Snapdeal’s seller financing programme

For-Axis-Bank-Story_Shah-Junaid_tc_feAxis Bank has withdrawn its credit limit to some sellers on e-commerce firm Snapdeal’s platform over falling sale numbers, a report by a financial daily stated. The private sector lender even asked sellers to repay outstanding loans, an Economic Times report stated. The merchants had availed loans through Snapdeal’s Capital Assist programme. “What we have […]

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Snapdeal’s potential fundraise from Softbank may cut its valuation in half

Snapdeal-by-Shah-Junaid_AE-commerce firm Snapdeal is in talks to raise funds from existing investor Softbank, which could see its valuation fall below $3 billion, a financial daily reported on Wednesday. Jasper Infotech Pvt. Ltd., which runs Snapdeal, is looking to raise approximately $300 million, of which $100-150 million could be from SoftBank, a report by The Economic […]

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Why high-paying Indian startups are cutting no ice with job-seekers

For-Startup-Cut-no-ice-Story-TC_ThinkstockPhotos-509872398For 31-year-old Puneet Parthasarthy (name changed), it was a dream job. His employer, a B2B tech startup, had deep-pocketed investors, and it was offering him a designation and compensation that could give many around him a strong bout of jealousy. It was a neat corporate job with “some hectic days” thrown in when new clients […]

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Forest fire blazing through Indian startup ecosystem: Inventus’ Kanwal Rekhi

Kanwal-Rekhi_feKanwal Rekhi, co-founder and managing director at VC firm Inventus Capital Partners, has been a known sceptic of the capital-intensive model of India’s e-commerce companies. At the News Corp VCCircle LP Summit 2017 in Mumbai, he was in sublime form, mincing no words when quizzed about issues plaguing the country’s leading consumer internet companies. Speaking […]

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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 sellers knock govt’s doors as e-tailer struggles

SnapdealA group of sellers on online marketplace Snapdeal has approached commerce minister Nirmala Sitharaman to protect their interests as the company’s troubles mount. The All India Online Vendor Association (AIOVA), an industry group set up to safeguard sellers’ welfare, said in a letter to Sitharaman it was afraid that Snapdeal may default on payments to […]

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