Exclusive: Analytics startup IQLECT hires ex-Amazon & Flipkart exec Vaibhav Pandey

Vaibhav-Pandey_feAnalytics startup IQLECT Software Solutions Pvt. Ltd, founded by former Jabong CTO Sachin Sinha, has appointed former Flipkart and Amazon executive Vaibhav Pandey as head of solutions strategy. Pandey will lead the company’s efforts in creating strategic solutions for its real-time data analysis platform, Sinha said. “He will also identify the verticals to target and […]

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Snapdeal launches own cloud platform to enhance performance across applications

Snapdeal_005Snapdeal, India’s second-largest homegrown online retailer, has launched its own private cloud platform christened Snapdeal Cirrus which the firm hopes will help save costs and offer performance gains across its applications. Cirrus, built entirely on open source, will help Snapdeal handle its long-term growth in traffic and analyse big data to build personalised and relevant […]

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Snapdeal nudges buyers to pay before delivery with new service

Snapdeal_feE-commerce marketplace Snapdeal has introduced a new service that promises free next-day delivery and other benefits to buyers who pay at the time of purchase, in a tactic aimed at goading users to move away from the cash-on-delivery model that helped popularize e-tailing in India. Snapdeal Gold doesn’t need any registration, offers free shipping and […]

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Binny Bansal consolidates his team at newly christened Flipkart Group

Binny BansalIn order to manage it diverse businesses that include e-commerce, mobile payments, logistics and two fashion portals, Flipkart has restructured its management team with Binny Bansal spearheading various functions as Group CEO. According to people close to the development, a leadership team has been constituted at the country’s largest e-commerce company to lead the aforesaid […]

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Alibaba may pick majority stake in Paytm’s e-commerce biz

AlibabaOnline and mobile commerce giant Alibaba, which owns a significant stake in One97 Communications Pvt. Ltd that runs mobile payment and commerce platform Paytm, is likely to pick a majority stake in Paytm’s e-commerce business, a senior company executive said. Paytm has created a separate entity for its online retail business under Paytm E-Commerce Pvt. […]

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CULT raises $3 mn from Mukesh Bansal and Ankit Nagori’s CureFit

Mukesh Bansal and Ankit Nagori, co-founders of CurefitFormer Flipkart executives Ankit Nagori and Mukesh Bansal’s yet-to-be-launched online preventive healthcare platform CureFit has invested Rs 20 crore ($3 million) in Bangalore-based CULT Fitness Pvt. Ltd, a fitness startup that offers training programmes that do not require the use of equipment, it said in a statement. Rishabh Telang, founder of CULT, said funds will be […]

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How well are the founders of Indian tech unicorns paid?

Their corporate babies may have scaled the milestone of $1 billion valuation but founders of most tech ‘unicorns’ in India are modestly paid folks. However, thanks to some generous stock options, a few founders have made it to the list of the highest-paid executives in the country. TechCircle pieced together information from the balance sheets […]

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Ed-tech startup Unacademy gets funding from Flipkart, Paytm founders

Education3Sorting Hat Technologies Pvt. Ltd, which runs educational-technology platform Unacademy, has raised Rs 6.7 crore ($1 million) from a clutch of investors including Flipkart co-founders Sachin Bansal and Binny Bansal and Paytm founder Vijay Shekhar Sharma. The Economic Times, which first reported the development, said the round was led by Blume Ventures. Stanford Angels India, […]

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Myntra crosses $1 bn in annualised GMV run rate

Flipkart-backed owned Myntra claims to have crossed $1 billion run rate in annualised gross merchandise value (GMV) in July 2016, making it the biggest ever month by sales for the fashion e-tailer. In a media briefing, the company said the new milestone is propelled by the growth of its private labels, increased contribution of international […]

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Sachin Bansal had to step down as CEO after Flipkart missed targets

Sachin BansalFlipkart co-founder Sachin Bansal has revealed he had to step down as the company’s CEO and take up the chairman’s position after missing performance targets, a media report said. Bansal made this disclosure at a town hall meeting with Flipkart employees on 19 August, The Economic Times reported, citing two people present at the meeting […]

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