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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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For-Axis-Bank-Story_Shah-Junaid_tc_feAxis Bank has withdrawn its credit limit to some sellers on e-commerce firm Snapdeal’s platform over falling sale numbers, a report by a financial daily stated.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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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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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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Snapdeal to lay off 600; founders forego salary

Jasper Infotech Pvt. Ltd, which runs Snapdeal, has decided to lay off 500-600 employees across the e-commerce marketplace and its subsidiaries, mobile wallet Freecharge and logistics wing Vulcan Express, a person aware of the development told Techcircle. The person added that the process of lay-offs has already started and will continue for “the next few […]

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Why a potential Snapdeal-Paytm merger makes perfect sense

For-MoEngage-Story-TC_ThinkstockPhotos-497374711_feWill they? Won’t they? Rumours come and go, but those around India’s third-largest e-commerce company Snapdeal’s merger refuse to die down, even though the suitors keep changing. For instance, not too long ago, the Jasper Infotech Pvt. Ltd-run company was in the news for exploring a potential merger with India’s biggest e-commerce player Flipkart. This […]

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