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 […]

Read more

Is Flipkart clawing back in the game against Amazon?

In early signs of a reversal in fortunes, Flipkart has outrun rival Amazon India in gross sales in two consecutive months, after trouncing the US-based ecommerce company with its Big Billion Day sales in October. The Indian ecommerce giant recently witnessed a top-level management rejig. Citing four unnamed people familiar with the numbers of the […]

Read more

Bluestone narrows revenue gap with Caratlane

For-Bluestone-CarrotLane-Results-Story-TC_ThinkstockPhotos-454983451The race for supremacy in the online jewellery retailing segment has tightened, with the gap in revenue of the top two players—Caratlane and Bluestone—halving in the last financial year. Carat Lane Trading Pvt Ltd, which runs Caratlane.com, posted a 9.5% increase in net sales to Rs 131.8 crore for 2015-16 from Rs 120.4 crore the […]

Read more

Exclusive: Management rejig at IGP as majority investor Tarun Joshi takes charge

Tarun JoshiClose on the heels of investor-led management changes at e-commerce major Flipkart and lingerie e-tailer Zivame, India’s largest multi-category gifting company IGP (earlier called Indian Gifts Portal) has initiated management restructuring wherein its majority investor, Tarun Joshi, has taken over as executive chairman to spearhead its international growth aspirations. Joshi is the India director of […]

Read more

B2B logistics startup BlackBuck to raise $10 mn from IFC

For-Blackbug-Story-TC_ThinkstockPhotos-500646181International Finance Corporation plans to make an equity investment of up to $10 million (Rs 68 crore) in logistics startup BlackBuck for a minority stake, the World Bank’s private-sector arm said. The investment will help BlackBuck, operated by Bangalore-based Zinka Logistics Solutions Pvt. Ltd, drive growth in contract and spot business and build ancillary services […]

Read more

Will a possible BigBasket-Grofers merger stave off competition from Amazon?

For-BigBasket-Merger-Story_ThinkstockPhotos-519469680_feOnline grocers BigBasket and Grofers have both rejected a media report of a possible merger. This has not prevented experts from speculating about what could probably be the biggest merger in the e-grocery segment. Such a consolidation would create an entity with a lion’s share of India’s expanding online grocery market, much like the Myntra-Jabong […]

Read more

CommonFloor founders quit a year after merger with Quikr

Just over a year after online classifieds portal Quikr announced the acquisition of realty portal CommonFloor, the latter’s three co-founders have quit the merged entity. Sumit Jain, co-founder and former CEO of CommonFloor, confirmed the development to Techcircle, adding the “reason of moving was to pursue other interests.” CommonFloor, run by maxHeap Technologies Pvt Ltd, […]

Read more

Reshuffle continues at Flipkart as 3 more top-level execs resign

FlipkartTwo days after Flipkart appointed investor Tiger Global’s former executive Kalyan Krishnamurthy as its new CEO, three top management executives are reportedly leaving the company. According to a report by The Economic Times on Wednesday, Flipkart’s supply chain arm Ekart’s head Saikiran Krishnamurthy, senior vice president and head of product Surojit Chatterjee and chief marketing […]

Read more

Will Tiger man Kalyan Krishnamurthy ride Flipkart out of trouble?

Kalyan-KrishnamurthyShedding whatever remaining trappings of an advisory role, venture capital investor Tiger Global has taken direct control of Flipkart with the appointment of its former executive Kalyan Krishnamurthy as CEO of the e-commerce firm. Krishnamurthy will be responsible for the company’s profit and loss, apart from “operationally driving it”, with the COO and heads of […]

Read more

Flipkart names Kalyan Krishnamurthy new CEO, Binny Bansal Group CEO

Binny-BansalE-commerce company Flipkart on Monday named Kalyan Krishnamurthy its new chief executive officer and made co-founder and current CEO Binny Bansal the group CEO in a major organisational restructuring. Krishnamurthy, a former Tiger Global executive, currently heads the design organisation category. Co-founder Sachin Bansal will continue to be the executive chairman, “providing strategic direction for […]

Read more