Exclusive: Tiger Global may be part-exiting Flipkart with 3x return

EXIT_FREE2Tiger Global, the biggest investor in Flipkart, may have struck a deal with Microsoft and other new investors to sell a part of its stake in the e-commerce company in the latest fund-raising round that valued it at $9.3 billion pre-money, a person familiar with the conversations told VCCircle. While US online retailer eBay, Chinese […]

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ShopClues investors rally behind Radhika and Sanjay in battle against Sandeep Aggarwal

Sanjay Sethi and Radhika AggarwalShopClues investors have rallied behind the firm’s management led by Radhika Aggarwal and Sanjay Sethi in their showdown with founder and CEO Sandeep Aggarwal—the estranged husband of Radhika—who went public about their marital discord and accused her of stalling his re-entry into the company. The firm’s board has rejected Sandeep’s claims and termed his public […]

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Exclusive: Flipkart appoints commerce platform finance head as CFO

For-Sriram-Venkataraman-Flipkart-Hiring-Story-TC_ThinkstockPhotos-51559605211Homegrown e-commerce major Flipkart has elevated Sriram Venkataraman, the chief financial officer of its commerce platform as the company’s finance chief. Venkataraman took over as CFO in January, a spokesperson told VCCircle, adding that this was part of the organisational changes made that month. “We are in the process of hiring a group CFO,” the […]

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After TVF trashes charges, more women allege sexual harassment by founder

A former employee’s post alleging sexual harassment against The Viral Fever (TVF) Media Labs founder and CEO Arunabh Kumar has prompted other women to come forward with similar accounts. Operated by Contagious Online Media Network Pvt. Ltd, TVF is an online digital entertainment channel. On March 12, a woman calling herself ‘Indian Fowler’ published an […]

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Flipkart to add 30% workforce in 2017

FlipkartAmid massive job cuts in India’s fast-growing e-commerce industry, home-grown online marketplace Flipkart is planning to ramp up its hiring efforts, a media report said. The Times of India reported, citing unnamed sources, that the company will hire 20-30% additional workforce in 2017. It said that the company is looking to expand its key teams, […]

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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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Sands Capital, IFC & others to invest $30 mn in logistics startup BlackBuck

funding-investment4Tiger Global-backed logistics startup BlackBuck has received an investment commitment of $30 million (around Rs 200 crore) in its Series C funding round from a group of new and existing investors, including Sands Capital and World Bank’s arm International Finance Corporation (IFC). Citing two unnamed persons close to the matter, Mint reported that both Sands […]

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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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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 […]

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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 […]

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