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Snapdeal-founders-Kunal-Bahl-&-Rohit-Bansal_fe

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...

22 February, 2017 | More »

Flipkart

Flipkart in talks to raise $1.5 bn from Microsoft, eBay and others

Home-grown ecommerce major Flipkart is in talks with a bunch of investors to raise a significantly large round of investment as the company has started seeing a renewed growth momentum under the new leadership of CEO Kalyan Krishnamurthy. The firm is in discussions with global tech giant Microsoft C...

22 February, 2017 | More »

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Can fintech startups replace stereotyped financial advisors?

I remember speaking to an investment advisor who told me about someone he was assisting on personal finances. At every meeting, the advisor repeatedly told the gentleman to appoint nominees for his investments, but he kept delaying it for some reason. The advisor only found out why after three years...

22 February, 2017 | More »

Yepme

Exclusive: Massive job cuts loom large at Yepme as funds dry up

Delhi-based VAS Data Services Pvt. Ltd, which operates fashion e-commerce firm Yepme.com, is going through trying times with the company looking to reduce headcount by 80-90% and forcing entire teams to resign. Several people that Techcircle has been speaking to for the past few months said on the c...

21 February, 2017 | More »

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Former Fidelity India executive Pratul Chopra joins Flipkart

The founder of carpooling app iRideShare and former head of marketing analytics at Fidelity India Pratul Chopra has joined Flipkart’s senior leadership team. At Fidelity, Chopra had worked under Nitin Seth, former country head of Fidelity in India and currently Flipkart’s chief operating officer...

21 February, 2017 | More »

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Three senior execs step down from Urban Ladder

Three senior employees have resigned from furniture e-tailer Urban Ladder since October last year, marking yet another episode of top-level attrition at the country’s e-commerce firms. Vice president of products and design Kartikeya Misra, director of brand management Vishwanath V, and directo...

21 February, 2017 | More »

IDG, Accion to invest more in CreditMantri

IDG, Accion invest more in CreditMantri

Chennai-based online credit management startup CreditMantri Finserve Pvt. Ltd has raised Rs 51.4 crore ($7.6 million) in Series B funding from new and existing investors, it said in a statement. Existing investors IDG Ventures India, Accion Venture Lab and Elevar Equity, and new investors Newid Capi...

20 February, 2017 | More »

Snapdeal&paytm_re

Why a potential Snapdeal-Paytm merger makes perfect sense

Will 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 ...

18 February, 2017 | More »

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Flipkart has no plans to cut jobs, says COO Nitin Seth

Flipkart’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 ...

17 February, 2017 | More »

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Urban Ladder raises $15 mn from Kalaari, SAIF and others

Bangalore-based Urban Ladder Home Décor Solutions Pvt. Ltd, which runs online furniture store Urban Ladder, has raised close to Rs 102 crore (around $15 million) in a fresh round of funding from existing investors. The investors who participated in the round are Kalaari Capital, SAIF Partners, Stea...

17 February, 2017 | More »