It’s getting increasingly likely that Flipkart isn’t quite worth the $15 billion it was last year. After Morgan Stanley had marked down its shares by 27%, and T Howe had snipped its valuation by 15%, two mutual firm investors have now valued Flipkart at less than the $15 billion valuation it enjoyed in August last year.
Under the harsh scrutiny of the bourses, it was expected that Infibeam’s IPO would provide signs as to what the markets really thought of the Indian e-commerce sector.
In a move that could hit the Indian growth plan of Apple Inc. in a big way, the Indian government has disallowed the company to import or sell refurbished phones in India.
Frédéric Desnard, 44, from Paris, has accused his ex-employer of boring him with mind-numbingly dull tasks over a four-year period. And, believe it or not, demanded a compensation of € 360,000 ($ 416,380).
It had been one of the most debated topics in tech circles last year. It had stirred debate, drawn discussions and polarized people. But it looks like the subject has finally been put to rest. Myntra will relaunch its desktop site that it had shut down in May last year.
It’s a treat for women employees at Tata Sons. The company has announced paid maternity leave of seven months and 18 months of half pay-half working day post-maternity support for women staff.
Indian IT giant Wipro is all set to trigger and change the careers of women in Saudi Arabia, a country usually unknown for its women friendly practises and laws. The company in a partnership with local partners will build Saudi Arabia’s first women only tech park. Wipro that already has an outsourced facility in Saudi Arabia, has just inaugurated this initiative in a joint venture with Saudi Aramco as a strategic partner and Princes Nourah University (World’ largest university for women).
In a landmark move, the founder and MD of Future Retail, the retail arm of the Future Group, Kishore Biyani will be stepping down as the MD and from any other executive position from the company.
Uber and Ola had suspended surge pricing in Delhi after the Delhi government’s directive, but it looks like it’s back. On the first day of the diesel car ban in Delhi, both Uber and Ola have resumed surge prices to the capital.