Earlier this month, Zomato owned Blinkit announced a revised pay structure for it’s delivery executives. Previously, they were being paid a fixed Rs 25 per delivery and peak-hour incentive of Rs 7 per trip It has now been revised to a minimum of Rs 15 per trip with a distance-based component This led to the … Read more
Reliance is unstoppable for now. It’s launching/ acquiring/ partnering businesses across segments and industries. As part of it’s retail expansion strategy, the subsidiary Reliance Retail Ventures Limited (RRVL) has now entered into the beauty segment. Launched with an Omnichannel strategy combining both the online and offline route Tira website and app for ecommerce 1st physical … Read more
Few months back, Nykaa’s CFO had resigned. Now 5 more senior executives of the Company have resigned. Chief Commercial Operations Officer, Manoj Gandhi Chief Business Officer of fashion division, Gopal Asthana Chief Executive Officer of wholesale business, Vikas Gupta Vice President of Nykaa fashion division’s Owned Brands business, Shuchi Pandya Vice President of Finance at … Read more
Walmart-owned e-commerce giant Flipkart is among SoftBank’s list of portfolio companies which are poised to go public. Other such portfolio companies of the Japanese investor which are expected to list publicly include the British chip designer arm, TikTok parent ByteDance, mobile payment system PayPay, Mexican online used-car dealership Kavak and Brazilian real estate startup QuintoAndar. … Read more
Zomato Gold is a periodic subscription based membership, whereby the subscribing customers get significant discounts and free deliveries from the member restaurants. Initially, it was mainly available on offline eating. However, later Zomato extended it to deliveries and that’s when member restaurants put up a significant protest because of which the scheme was altogether stopped … Read more
Released by the US Trade Representative (USTR) on January 31, 2023, the 2022 Notorious Markets List identifies 39 online and 33 physical markets globally that are reported to engage in or facilitate substantial trademark counterfeiting or copyright piracy. In India, IndiaMart is the only ‘online’ marketplace named in the list. Rest 4 are all offline … Read more
Trend of Co-founders and Key Employee resignations continue at Zomato. Mr. Gunjan Patidar, Co-founder and Chief Technology Officer (CTO) at the Company has now tendered his resignation. Gunjan was one of the initial employees of the Company. He had joined in 2008 and built the core tech system of Zomato. Despite being the CTO, he … Read more
In a surprise announcement, Nykaa announced the resignation of it’s CFO Mr Arvind Agarwal. Arvind had joined Nykaa in July 2020. Reason for his resignation – “to pursue other opportunities in the digital economy & start-up space” Who is replacing him – no one has been announced yet. It seems that his resignation has come … Read more
Mohit Gupta, the co-founder at Zomato for last 4 and half years has resigned. Reason for Mohit’s exit – no clarity Where is he going – no one knows Is Zomato concerned – atleast not publicly. They didn’t even designate him as a Key Managerial Person (check the company disclosure in the source link). This … Read more