In an attempt to prevent the transmission of the novel coronavirus among employees, e-commerce company Flipkart has offered its employees work from home option for three days. The offer is preferably made available to young employees whose children are studying up to fifth grade. A Flipkart spokesperson said, “In addition, we are checking system preparedness…
Bengaluru-based fintech startup PhonePe recently announced that it has raised fresh capital from its Singapore-based parent entity PhonePe Private Limited, Singapore. According to a company filing, PhonePe has received $60 million (Rs 427.25 crore) in fresh capital from its Singapore parent, PhonePe Pvt Ltd. PhonePe allotted 1mn equity shares at a value of ₹10 with…
Walmart Inc, the world’s largest retailer, has laid-off more than 50 of its India executives as part of its restructuring efforts in the country. According to a Reuters report, citing Krish Iyer, President and CEO of its India unit, about eight senior management executives were also fired. The move clearly signals the struggles Walmart is…
Walmart and Flipkart has announced a joint strategic investment in Ninjacart, the innovative startup disrupting India’s fresh produce market with its made-for-India business-to-business (B2B) supply chain infrastructure and technology solutions. The transaction is expected to close by this year-end. The company was founded in 2015. Partnering with Ninjacart will help Walmart and Flipkart strengthen direct…
Walmart Labs India, the local product development division of US retail giant Walmart has acqui-hired key tech team from Artificial Intelligence (AI) and data analytics start-up Int.AI, this is the second acqui-hire made by the retailer in India Acqui-hire refers to the buy out (a company) primarily for the skills and expertise of its staff, rather than for…
It is learnt that the board of Wal-Mart Stores Inc. has identified two internal candidates to succeed incumbent CEO Mike Duke. The contenders as per a reports by Bloomberg News, are Bill Simon and Doug McMillon. Though Duke isn’t expected to step down immediately, it is understood that Wal-Mart may name his successor soon.…