Flipkart’s valuation has been cut by Morgan Stanley for the 2nd time this year. After it had marked down the value of its shares in Flipkart by 27% in March, the firm has again marked down its shares by 15.5%, valuing Flipkart at $9.39 billion.
2016 might’ve been a seminal year for Zomato as it entered the food ordering business, but the move has come with a price. The company’s losses have more than trebled to Rs. 492 crore for the year ending March 2016.
Flipkart’s proposed plan to delay the joining dates of its fresh graduates hasn’t gone down well with India’s top B-school. IIM Ahmedabad has sent a strongly worded email to Flipkart CEO Binny Bansal asking him to guarantee that their graduates will have a job when the date of joining is finalized.
FreeCharge COO Govind Rajan has been named the CEO of the company. Kunal Shah, who had founded FreeCharge in 2010 and had been the CEO since then, will now serve as the Chairman.
According to a report by Bloomberg, India’s Foreign Investment Promotion Board has ruled Apple can’t set up its own retail stores in India.
Snapdeal Chief Product Officer Anand Chandasekharan has quit the company. This was announced by Snapdeal co-founder Rohit Bansal on Twitter.
In a surprise move, Flipkart has delayed the joining dates of its batch of incoming graduates by upto 6 months. This means that the campus hires that Flipkart had made last year who were supposed to join in June this year will have to wait till December before they can join the company.
A simple variable name change can often be the difference between a successful new code deployment and things going horribly, horribly wrong. Myntra’s CTO has detailed what went down when the app bombarded its surprised users with thousands of notifications for products that they’d never bought.
Vijay Mallya’s flee to England has hurt big banks as they’re saddled with loans than they possibly will never recover. It’s made lots of common Indians very angry. But the whole sorry saga has claimed an unexpected victim – Manmohan Singh from Khajuria Naviram village in Uttar Pradesh.