Future Group, the Kishore Biyani-led company, has decided to scale down its e-commerce venture Retail 3.0. In a bid to restructure its e-commerce business, the company has laid off about 400 people. According to a report by LiveMint, the layoffs are from roles in sales, product development, marketing, and ground operations. The company had recently…
Jeff Bezos, Founder, Amazon.com Inc., three-day visit to India has come to an end. In his visit, Bezos has promised to create a million jobs in India by 2025. “It’s still Day 1,” the American billionaire mentioned in a direct message to “customers, sellers and partners” that was posted on Amazon.in. A media statement was issued…
Alphabet, the parent company of Google on Friday crossed the $1bn valuation mark. With this Alphabet became the fourth tech company to cross $1trillion milestone. Alphabet joins Apple, Microsoft, and Amazon in the exclusive club. Amazon passed the $1trillion mark in September 2018 but its current value is estimated at $931bn. Apple was the first…
Airtel Broadband has announced the resignation of its chief executive officer (CEO) Sameer Batra. According to his LinkedIn profile, he will be joining the e-commerce major Amazon as director for mobile business development. One of the familiar people with the matter said, “Vir Inder Nath, who was the chief executive of retail business at Airtel,…
Rivian, an American automaker, and automotive technology company has closed an investment round of $1.3 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates Inc., Amazon, Ford Motor Company and funds managed by BlackRock also participated in the round. The company was founded by Robert “RJ” Scaringe in 2009.…
Amazon, the global e commerce giant, has made fresh investments of about ₹4500 Cr., into its Indian subsidiaries. These investments are directed at Amazon Seller Services, Amazon Pay and Amazon Retail. Amazon Seller Services, Amazon Pay (India) and Amazon Retail India has received ₹3,400 crore, ₹900 crore, ₹172.50 crore respectively from Amazon. Amazon competes with…
Amazon, the American e-commerce giant and cloud computing company has decided to open a new office in Manchester and will be creating more than 1000 jobs in the fields of research and development in the UK. The new Manchester office will be house at least 600 new employees working on software development, machine learning and research and…