The e-commerce fashion players Myntra and Jabing that have played a major role in the industry are reportedly merging and this has come days after Walmart put the two fashion businesses of the Flipkart Group under direct control of CEO Kalyan Krishnamurthy. “Since Myntra’s purchase of Jabong in mid-2016, the two brands have been steadily integrating key […]
Acko Technology, an online insurance startup raised $12 million in a fresh round led by e-commerce giant Amazon India as informed by the company on Sunday. The funding round witnessed participation from new investor Ashish Dhawan and existing investor Catamaran Ventures (Owned by Narayana Murthy). The new infusion has taken Acko’s total equity funding to […]
Shekhar Gupta, the editor who turned entrepreneur, received an investment of INR 3.49 Cr for his digital media platform, The Print, from existing investors Ratan Naval Tata in what seems to be an extended seed round. The parent company, Printline Media Private Limited prearranged 343 Seed debentures each worth INR 102,000 on March 12, 2018. […]
Infosys, India’s No.2 IT services company, named Salil S Parekh as chief executive on Saturday, picking an outsider for the job a second time and handing him the twin challenges of reviving growth and making peace between its founders and board. Parekh, who will join from consultancy firm Capgemini where he is currently an executive, […]
IT major Infosys today said the feedback from its clients and stakeholders, despite weeks of acrimony between the founders and former board members, has been “positive and reassuring” and it is now focusing on executing its strategy. The Bengaluru-based firm has been in the eye of a storm over the past few months, with the […]
Infosys founders are likely to sell some of their stake in the company’s under Rs 13,000-crore share buyback programme, the company said today. The promoters keenness to participate in the buyback comes within days of a silent coup by founders led by N R Narayana Murthy to seize control of Indias second-biggest software services firm. […]
Managing Director and CEO of Infosys, Vishal Sikka has resigned from his post this Friday morning and the Board has accepted his resignation with immediate effect. This move of Vishal was under the growing acrimony between the board and its founders led by NR Narayana Murthy. UB Pravin Rao, the Chief Operating Officer will be […]
Prime Minister Narendra Modi is set to meet 200 startup entrepreneurs and CEOs who have set up successful business right from the scratch; today to discuss on a range of issues including job creation, income growth and innovation at a session organized by federal policy think tank NITI Aayog.
Printline Media Pvt Ltd., a venture founded by Shekhar Gupta, has recently announced the conclusion of its first round of funding with a stellar list of investors. N.R. Narayana Murthy, Ratan Tata, Nandan Nilekani, Uday Kotak Family, Kiran Mazumdar Shaw, Bangalore-based tech entrepreneur Rajiv C. Mody, Paytm founder Vijay Shekhar Sharma, Chairman, LVMH Asia Ravi […]
IT major Infosys today denied media reports suggesting that its co-founders, including N R Narayana Murthy, were planning to sell their entire stake in the company. “We would like to clarify reports in media speculating on plans of stake sale by the promoters. This speculation has already been denied categorically by the promoters,” the company […]
Wipro Chairman Azim Premji’s pay package saw a huge 63 per cent fall at USD 1,21,853 (about Rs 79 lakh) last fiscal, with no commission being paid during the year. The IT czar had drawn a larger compensation of USD 3,27,993 (about Rs 2.17 crore) in the previous fiscal. Premjis package included USD 66,464 in […]
IT services major Infosys today said it will hire 20,000 people this year as against only 400 people being asked to leave on performance grounds and termed reports of large-scale job losses as “overstated”. Infosys COO UB Pravin Rao said the technology-driven transformation presents new opportunities for companies like Infosys. “With respect to all the […]