IIT Madras Alumnus Suresh Kumar Appointed CTO Of Walmart

IIT Madras Alumnus Suresh Kumar Appointed CTO Of Walmart

Yet another multinational giant is now powered by an Indian CTO. Walmart has appointed Suresh Kumar as its Chief Technology Officer. Kumar will join Walmart on 8th July, and report directly to Walmart CEO Doug McMillon. He’ll step into the shoes of longtime Walmart CTO Jeremy King, who left the company in March. Suresh Kumar had graduated from IIT Madras in 1987 with a Bachelor’s degree in Aeronautical Engineering, before treading a path that was familiar…

Naukri.com Has Acquired IIMJobs.com’s Parent Company For Rs. 81 Crore

Naukri.com Has Acquired IIMJobs.com’s Parent Company For Rs. 81 Crore

After providing jobs for thousands, iimjobs has now found a taker for itself. Naurki.com has acquired iimjobs’ parent company Highorbit Careers for Rs. 80.81 crore. Highorbit Careers was founded in 2010 and operates job portals iimjobs.com and Hirist.com. Post the acquisition,  iimjobs will become a wholly-owned subsidiary of InfoEdge, Naukri.com’s parent company. “iimjobs has managed to carve a niche for itself and has built a great brand in the premium jobseeker community,” said Hitesh Oberoi, the CEO…

Google Pay Is Now India’s Largest UPI Platform By Value Of Transactions: Report

Google Pay Is Now India’s Largest UPI Platform By Value Of Transactions: Report

Paytm and PhonePe had spent much of last year quibbling over which one was India’s largest UPI platform, but it appears that a foreign player has quietly stolen their lunch. Google Pay has become India’s largest UPI platform by transaction value, Bloomberg Quint reports. Quoting industry sources, the report said that Google Pay reported Rs. 49,700 crore of transactions in April, leading PhonePe, which accounted for Rs. 42,610 crore of transactions, and Paytm, which had…

Watch Jeff Bezos Masterfully Handle A Customer Who Wants To Return An Order To Him In Person

Watch Jeff Bezos Masterfully Handle A Customer Who Wants To Return An Order To Him In Person

E-commerce sites have pretty much streamlined how they handle product returns — there’s usually a form to fill, a valid reason to give, and someone comes over to your house and picks up whatever you’ve chosen to have returned. But things must’ve come to a pretty pass if you’re forced to return your product directly to the company’s CEO — at a public event no less. At Amazon’s annual stockholder meeting, Jeff Bezos was faced…

Paytm Payments Bank Turns Profitable In Its Second Year Of Operations

Paytm Payments Bank Turns Profitable In Its Second Year Of Operations

Paytm Payments Bank might have got off to a rocky start, but it appears to be finally hitting its groove. Paytm Payments Bank has registered a profit of Rs. 19 crore in FY19, the company has said in a statement. This is the first time the bank, which was launched in 2017, has been profitable. In FY 18, the bank had registered a loss of Rs. 20 crore. “Our bank has performed exceptionally well in…

Ola Has Severely Curtailed Foodpanda’s Operations And Terminated Contracts Of 1500 Delivery Executives

Ola Has Severely Curtailed Foodpanda’s Operations And Terminated Contracts Of 1500 Delivery Executives

India’s food delivery space might’ve just lost one of its biggest players. Ola-owned Foodpanda has severely curtailed its operations. As of writing, all restaurants, apart from Dominos and Pizza Hut, are listed as “unavailable” on its app. Mint is reporting that the company has terminated its food delivery business, and laid off 40 mid to entry level employees. It has also reportedly terminated the contracts of 1500 delivery executives. “They (Ola) have realized they can’t…

Reliance Is Now India’s Most Profitable Company

Reliance Is Now India’s Most Profitable Company

Reliance was already India’s most valuable company — now it’s also its most profitable. Mukesh Ambani’s Reliance Industries has become India’s most profitable company, registering a net profit of Rs. 39,588 crore in FY19. Reliance has made another record for itself — until last year, it was the second largest Indian company by revenue, but in FY19 it toppled Indian Oil Corporation Limited to become India’s biggest company by revenue. Reliance already was India’s most valuable company,…

Amazon Launches Flight Bookings In India As It Looks To Become A Super App

Amazon Launches Flight Bookings In India As It Looks To Become A Super App

India’s already-crowded air ticket booking space has a new — and massive — addition. Amazon has launched its flight booking service in India as it looks to become a super app. Amazon’s app and website now has a flights icon on the Amazon Pay page, and customers can book flights much as they’d book one on a dedicated travel portal . Amazon has partnered with Cleartrip to launch the service. “We are excited to partner with Cleartrip and…

Paytm, Ola Launch Credit Cards As Indian Tech Unicorns Make Big Fintech Push

Paytm, Ola Launch Credit Cards As Indian Tech Unicorns Make Big Fintech Push

Indian unicorns, no matter which sector they operate in, are making a beeline for fintech. Paytm and Ola have both launched their own credit cards this week, marking their formal entry into the lending and credit space. Paytm’s card, called Paytm First, has been launched in partnership with Citi, while Ola has launched a card in partnership with Visa and SBI. Last October, Amazon had launched a co-branded card in association with ICICI. Flipkart too…

Paytm Mall Investigating Fraud Around Its Cashback Schemes, Several Employees Fired

Paytm Mall Investigating Fraud Around Its Cashback Schemes, Several Employees Fired

Over the years, Paytm has been fighting to prevent cashback fraud perpetrated by its customers. Now it seems to have had to fight cashback fraud perpetrated by its own employees. Paytm Mall is investigating a cashback fraud involving some of its employees and merchants, Mint reports. Some Paytm Mall employees allegedly worked with third-party vendors and created fake orders to siphon off cashback offers. Paytm has engaged consulting major EY to audit the fraud. The…

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