Friday, March 29

Author: Ankita Singh

Mahindra Aviation Unit Bags Contract From Airbus
BUSINESS

Mahindra Aviation Unit Bags Contract From Airbus

European aviation major Airbus has awarded a long-term contract to Mahindra Aerostructures to manufacture and supply a set of components made of hard metals. These components aerospace steel, titanium and Inconel - will be used in manufacturing single aisle A320neo and wide-body A350XWB aircraft, a release said here today. This will be the first direct work package from Airbus to Mahindra Aerostructures, which will execute the work together with its sub-tier French firm Segnere SAS, it said. According to the release, the products will be delivered directly to Airbus facilities in Europe from India and France, thereby providing the leading aircraft maker an optimum mix of cost structures and logistics flexibility. Segnere has several years of experience working with hard metals ...
Flipkart-eBay India Deal Gets Indian Government Nod
BUSINESS

Flipkart-eBay India Deal Gets Indian Government Nod

E-commerce major Flipkarts proposed acquisition of eBay India has received approval from the Competition Commission. Besides, the fair trade regulator has given nod to eBay Singapores subscription of compulsorily convertible preference shares (CCPS) issued by Flipkart. In a tweet, the Competition Commission of India (CCI) said that it has approved "subscription by eBay Singapore of CCPS issued by Flipkart and acquisition of eBay India by Flipkart". As per the notice submitted to the regulator, the transaction relates to the acquisition of 100 per cent share capital of eBay India by Bangalore based e-commerce firm Flipkart. The transaction also involves the acquisition of certain compulsorily convertible preference shares of Flipkart by eBay Singapore, as per the notice. Earl...
News

Flipkart Announces Hackathon to Deal With Bengaluru Traffic Problem

E-commerce major Flipkart today announced a hackathon to crowdsource "innovative", "implementable" solutions from the tech community and concerned citizens, that could help ease the cities perennial  traffic problem. Termed "Gridlock Hackathon," the initiative marks the start of the "Month of Innovation" at Flipkart, a part of its  10th year anniversary celebrations, the company said. The contest will run from June 7, 2017 until June 21,  2017 and is open for technology-centric solutions, as well as  those that partially leverage technology through out-of-the-box thinking, it said in a release. "The idea is to give back in some way to the city we  all love, and ensure it retains the vibrant ecosystem that has been a major catalyst in the growth story of Flipkart and so many other ...
Google Linking Online and Offline Worlds in New Ad Challenge
News

Google Linking Online and Offline Worlds in New Ad Challenge

SAN FRANCISCO: Google is testing a way to tie online ads to brick-and-mortar store purchases, a move whetting marketing appetites while fueling privacy worries. A product called “Google Attribution” was unveiled at a marketing conference this month in San Francisco by the Internet giant. Google has long been able to determine when users click on an ads and make a purchase, but linking online and offline habits takes its analytics a step further. Google senior vice president Sridhar Ramaswamy, who announced that Attribution is in test mode with a limited number of partners and will be rolled out to more advertisers in coming weeks, touted the tool as being able to answer the long-challenging question of whether marketing campaigns are working. “Google Attribution makes it possible ...
Snapdeal HR Head Resigned
News

Snapdeal HR Head Resigned

Snapdeal continues to lose members from top leadership, the latest to join the list being its Human Resources Head Saurabh Nigam. Nigams exit comes amid talks of a potential sale of the e-commerce firm to larger rival Flipkart. A Snapdeal spokesperson confirmed the development. "After spearheading Snapdeals Human Capital function for more than three years, Saurabh Nigam has decided to move on to pursue further career interests in a field close to his heart," the spokesperson said in an e-mailed response. Post the transition, Pravin Kutty, Associate Vice President - HR and Administration, will head the Human Capital function, the spokesperson said. Snapdeal, over the past many quarters, has seen exit of senior executives like Tony Navin, Sandeep Komaravelly, Anand Chandrasekaran...
Snapdeal Board Will Discuss Sellout Possibility to Flipkart Tomorrow
News

Snapdeal Board Will Discuss Sellout Possibility to Flipkart Tomorrow

The board of e-commerce marketplace Snapdeal is expected to meet tomorrow to discuss the potential sale of India's third largest e-commerce firm to larger rival Flipkart. Also, on the agenda will be getting Nexus Venture Partners (NVP), an early investor in Snapdeal, to agree to the sale deal. The approval of Nexus Venture Partners will be crucial for the proposed transaction to proceed, according to sources close to the development. The seven-member board of Jasper Infotech, which operates Snapdeal, includes representation from investors SoftBank, Kalaari Capital and Nexus Venture Partners (NVP), as well as co-founders Kunal Bahl and Rohit Bansal. The valuation of Snapdeal is believed to be one of the hurdles to the deal, as Kalaari and NVP were not in agreement with the valuatio...
ShopClues Expanding its Fashion Business To Hit Profit Goal
News

ShopClues Expanding its Fashion Business To Hit Profit Goal

ShopClues is expanding its fashion business by bringing on board more local brands and enhancing product offerings, a move that will steer the e-commerce marketplace towards overall profitability. ShopClues, which focuses on value and mid-price segments, aims to hit overall profitability by the first half of 2018- 19. Talking about the lifestyle segment, ShopClues Co-Founder and Chief Business Officer Radhika Aggarwal said the current size of Indias apparel and lifestyle market is estimated to be over USD 90 billion but only 2 per cent of this is online. "However, this (lifestyle) is also the fastest growing category and reaches 24 per cent of online consumers in India," she told Pixr8. The lifestyle segment is fast growing with intense competition among not just fashio...
Big Economy Boost- Indian PM Flags Off First Flight Under UDAN Scheme
INDIA

Big Economy Boost- Indian PM Flags Off First Flight Under UDAN Scheme

Prime Minister Narendra Modi today inaugurated the maiden Shimla-New Delhi flight under a government scheme called UDAN or "Ude Desh Ka Aam Nagrik" to boost regional air connectivity. The flight is being operated by Alliance Air, a subsidiary of Air India. The airline has deployed its 42-seater ATR plane on this sector. The prime minister also simultaneously flagged off regional connectivity scheme (RCS) flights on the Kadapa, Hyderabad and Nanded-Hyderabad sectors through video- conferencing.     With the RCS scheme, the government aims at connecting 45 unserved and under-served airports and make flying affordable by capping fares at Rs 2500 per seat/ hour. Five airlines were awarded 128 routes under the scheme last month after a bidding process. Under t...
Has Demonetization Really Helped In Growth Of Paytm?
News

Has Demonetization Really Helped In Growth Of Paytm?

December 9, 2016- Now wherever we go, whether its small shops or a big store, we see a Scanning code on the wall with "Paytm logo" which says PAYTM KARO. Paytm is an online payment transaction company that has been highly popular after the "Demonetization". After the Demonetization news was announced, on the next morning Paytm ads were carried on the first page of major newspapers of India. So the common question arises "Does really Paytm have gained beneficiary after demonetization"? As per sources, Paytm was seeking to raise money in August at a valuation of $5 billion. After demonetization Paytm transaction touched 5 million in a day regularly. Paytm transaction total hit Rs 24,000 crore a day and the company registered a 700% increase in overall traffic and 1000%percent growth to Pa...
Biggest Shake for SAMSUNG In 47 Years..
News

Biggest Shake for SAMSUNG In 47 Years..

REUTERS- India has the highest level of collaboration globally between sales and marketing departments to strengthen their relationship to drive business success and achieve revenue growth, showed a research by network tech giant Samsung Electronics Co Ltd, under pressure from shareholders to improve investor returns, said on Tuesday it will consider creating a holding company in what would be the biggest shake-up in its 47-year history. The move and a plan to raise dividends come after U.S. hedge fund, Elliott Management in October called for the South Korean firm to split itself into a holding vehicle and an operating company. However, the world's top maker of smartphones, memory chips and televisions, said it was "absolutely neutral" about whether to proceed and provided little ...
Online Travel Portal IXIGO Raises $10 Million Funding From Sequoia Capital India
FUNDING

Online Travel Portal IXIGO Raises $10 Million Funding From Sequoia Capital India

Ixigo, a Gurugram-based online search marketplace portal has raised $10 million funding from Sequoia Capital India. Started in 2007, Ixigo started operation in flights, hotels, trips, trains, buses and cabs booking, where users can choose best options across multiple service providers. It has a separate mobile application for all of them. Ixigo is backed by Indian investors lyk India's largest online travel agency (OTA) MakeMyTrip and smartphone maker Micromax, besides venture capital firm SAIF Partners. In August 2011, SAIF Partners and Make MyTrip picked up 76.6% in ixigo for $18.5 million, valuing the company at about $25 million. SAIF bought 56.7% while MakeMyTrip picked up 19.9% then. In June 2015, Micromax picked up a stake in the company by investing about $4 million. The i...