Narayanan said while there would be some redundancies as a result of integration of the back-end functions of Myntra and Jabong, it will, however, be less than 10 per cent of the overall headcount
The Dabangg actor gets candid about her fashion choices.
Myntra CEO Ananth Narayanan, who was earlier against the merger of the two fashion e-tail companies, is learnt to be meeting each Jabong employee one-to-one.
E-commerce major Flipkart has burnt cash of $3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had $1 billion in cash in July 2021, which came down to $887 million by September 2022. The company, in July 2021, raised $3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according to regulatory filings of Flipkart and Walmart.
Walmart is rumoured to be looking to listing Flipkart in a few years. At that stage, we'll get a better sense of what's going on in retail, says Devangshu Datta.
With this round of funding, Flipkart's valuation has reached USD 11.6 billion, and US IT major Microsoft joins the marketplace as a strategic investor.
There are several discussions going around in the e-health sector for consolidation with key players being PharmEasy, 1mg, Medlife and Netmeds. According to reports, Reliance Jio is in talks with Netmeds to acquire the latter.
The Walmart chief stated that the values of the two companies were "very much aligned"
These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
Paytm's secondary share sale gave an opportunity to its employees - both former and current - to liquidate their vested Esops and earn around Rs 500 crore in total.
Flipkart has long been under the ED scanner for alleged violation of FDI rules.
The People's Choice Survey is an annual report by CashKaro.com, which identifies key trends in online shopping in India.
What sold the most this year? Beauty, toys and baby care, sports and fitness, television and large appliances, followed by fashion, says T E Narasimhan.
With over 200 brands and websites as participants this year, the Google Online Shopping Festival is turning bigger.
Consumers are opening up their wallets for intangible promises.
'Shape up or ship out' message has been loud and clear across the new-age companies in the stressed market conditions
Another point of contention is the invoice issued by the e-companies.
Brazilian model Bruna Bernandes -- who wants to become a cardiologist -- is in India to try her luck. She's already worked with SRK and Salman and finds India safer than Brazil.
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