Aditya | Pixr8 News

Azim Premji Salary Package Received 63% Cut, No Commission Paid This Year

5Jun By AdityaNo Comments

News

Azim Premji Salary Package Received 63% Cut, No Commission Paid This Year

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 salary and allowances and USD 41,742 (others) and USD 13,647 in long-term compensation (deferred benefit - companys contribution to the Provident Fund and Pension Fund), totalling to USD 121,853 for the year 2016-17, as per documents with the US SEC. "Azim H Premji is entitled to a commission at the rate of 0.5 per cent on incremental net profits of Wipro for the fiscal 2017 over the previous year. For the year ended March 31, 2017, commission paid to Azim H Premji is INR Nil,"...

Lenskart to Open 400 Stores in 2 Years; Invest Rs 100 Crore

4Jun By AdityaNo Comments

News

Lenskart to Open 400 Stores in 2 Years; Invest Rs 100 Crore

Ratan Tata-backed eyeware retailer Lenskart plans to invest over Rs 100 crore on business expansion, including opening of 400 stores, in the next two years. The company, which has a strong online presence, is eyeing a total of 700 stores by March 2019 by targeting small towns, tier II and III cities. "As of now we have 300 stores across India and in the next two years we plan to open another 400 stores," Lenskart CEO Peyush Bansal told Pixr8. The current Lenskart stores in over 80 cities are based on franchise model, he added. When asked about investment for the expansion, Bansal said the company will be putting in capital primarily around building back-end supply chain, while franchises would invest in opening stores. "For us the total investment would run to around Rs 100 ...

Infosys Will Hire 20,000 People, Fired Only 400 People This Year

2Jun By AdityaNo Comments

News

Infosys Will Hire 20,000 People, Fired Only 400 People This Year

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 talks of layoffs, it's regular performance based things that we do every year. The number is really 300-400, which is consistent with what we have seen every year," Rao told reporters after a 30-minute meeting with IT Minister Ravi Shankar Prasad. He said the country's second largest software exporter is "creating more jobs, adding more people and letting go of only minuscule number of people, purely from performance related perspec...

NIIT Techs Arm Acquires 55% Interest in US Firm RuleTek

1Jun By AdityaNo Comments

ACQUISITION

NIIT Techs Arm Acquires 55% Interest in US Firm RuleTek

Incessant Technologies, an arm of NIIT Technologies, today announced it will acquire 55 per cent interest in US-based RuleTek, in a bid to boost its digital integration capabilities and expand North America footprint. Incessant Technologies has "signed a definitive agreement to acquire 55 per cent interest in RuleTek", NIIT Tech said in a regulatory filing without disclosing the deal size. "The transaction will enable Incessant to strengthen its digital integration capabilities and expand its footprint in the high-opportunity North American market and near-shore capabilities to its existing delivery model," the statement said. RuleTek, headquartered in Meridian, Idaho (US), is a business process management architecture services company that has done implementations for Fortune 500...

Vivo Becomes Official Sponsor of the 2018 and 2022 FIFA World Cup

1Jun By AdityaNo Comments

CHINA

Vivo Becomes Official Sponsor of the 2018 and 2022 FIFA World Cup

BEIJING - Football is one of the most fascinating sports, and the FIFA World Cup, as one of the top sporting competitions in the world, always captures the attention of global audiences. The global smartphone brand Vivo announced its agreement with International Federation of Association Football (FIFA) to sponsor the FIFA World Cup for six years, covering two tournament cycles. This means Vivo will become the official sponsor of the 2018 and 2022 FIFA World Cups. Consecutive Sponsorship of Two FIFA World Cups As the official smartphone brand to sponsor the FIFA World Cup, Vivo will consecutively sponsor the FIFA Confederations Cup 2017, 2018 FIFA World Cup hosted by Russia, FIFA Confederations Cup 2021, and 2022 FIFA World Cup in Qatar. Through the tremendous global influence, this si...

DigitalF5 Acquires Delhi Based Digital Marketing Company AdClear

31May By AdityaNo Comments

ACQUISITION

DigitalF5 Acquires Delhi Based Digital Marketing Company AdClear

DigitalF5, the leading digital innovator with vast expertise in the domains of Design & Content, Marketing and Technology, has recently acquired AdClear, a Google Partner Company specializing in the domain of performance digital marketing. Incepted in February 2017, AdClear, despite being a new entrant, has equipped itself with an emphatic understanding of the performance marketing domain and has established a strong foothold in the market of New Delhi. AdClear founder member Ajay Anand’s 14+ years of industry experience and the organization’s domain specific expertise will definitely help to widen the reach of DigitalF5 in New Delhi, where it aims to augment its market share. Ajay Anand, a Google certified professional, GNIIT and an M.B.A from Sikkim Manipal University, has utilize...

Online Petition Platform Change.org Raises $30 Million From Linkedin Co-founder, Bill gates & Others

28May By AdityaNo Comments

FUNDING

Online Petition Platform Change.org Raises $30 Million From Linkedin Co-founder, Bill gates & Others

Linkedin Co-founder Reid Hoffman along with Bill Gates & others lead latest funding round of more than $30 million in change.org. The news was first disclosed by Reid Hoffman on his Linkedin account. Other existing Change.org investors include Richard Branson, Ashton Kutcher, and the rapper Nas. Change.org performs functions that are key to a healthy democracy functions that were once mostly the domain of daily newspapers and other traditional news outlets. It informs its users about issues and developments that are of local, national, and even global relevance. It gives a megaphone to marginalized and disenfranchised communities. Its users and petition starters hold powerful interests accountable. Founded by Ben Rattray in 2007, the platform has attracted nearly 200 million u...

Ola and Mahindra Collaborated For EV Mass Mobility Ecosystem in Nagpur

26May By AdityaNo Comments

News

Ola and Mahindra Collaborated For EV Mass Mobility Ecosystem in Nagpur

On Friday, Ola along with Mahindra announced a joint venture programme to build an electric mass mobility ecosystem in Nagpur. Devendra Fadnavis, Chief Minister of Maharashtra, and Nitin Gadkari, Minister of Road Transport, Highways and Shipping, inaugurated the multi-modal electric vehicle project and Ola Electric charging station. This project brings vehicles across different segments and will include – e-cabs, e-buses, e-rickshaws, and e-autos on one platform. A press note sent by the company states that they already have over 100 of Mahindra’s e20 plus vehicles and the rest of the fleet will consist of vehicles sources from other OEMs including Tata Motors, Kinetic, BYD, and TVS amongst others. The electric charging station was unveiled within Nagpur’s airport complex. Ola has al...

Sad over recent IT layoffs: Narayana Murthy

26May By AdityaNo Comments

Entrepreneurs Talk

Sad over recent IT layoffs: Narayana Murthy

Founder Chairman of Infosys N R Narayana Murthy today expressed sadness over the IT companies laying off their employees as part of their cost cutting strategy. "...It is sad...," Murthy told in an email reply to a Pixr8 query about recent IT layoffs. Murthy, however, did not elaborate on the matter. Infosys had announced that it could hand out pink slips to hundreds of mid and senior-level employees as it carries out bi-annual performance review amid a challenging business environment. The development comes at a time when its peers Wipro and Cognizant are taking similar measures to control costs. The US-based Cognizant had rolled out a voluntary separation programme for directors, associate VPs and senior VPs, offering them 6-9 months of salary. Wipro, too, is learnt to hav...

25May By AdityaNo Comments

FUNDING

Genext Students Raises $5,80,000 in Series A Funding

Tutoring platform Genext Students today said it has raised USD 5,80,000 (around Rs 3.75 crore) in its pre-Series A funding round from undisclosed investors. The fresh capital would primarily be used to expand presence to new cities. Genext Students aims to leverage the freshly raised capital to strengthen its tech backbone and expand the services to new cities such as Bengaluru, Lucknow, Jaipur, Hyderabad and Chennai, it said in a statement. Launched in February 2013, the platform provides private tutoring with technology-enabled learning for CBSE, ICSE and state boards. Ali Asgar Kagzi, co-founder and director of Genext Students said, "With our fresh round of funds, we aim to expand our services to more cities across a greater number of geographies and make use of technology i...

US Based Ebix Acquire 80% Stake in India Based Digital Payment Startup Itzcash For 800 Crores

25May By AdityaNo Comments

ACQUISITION

US Based Ebix Acquire 80% Stake in India Based Digital Payment Startup Itzcash For 800 Crores

US headquartered Ebix today said it has invested about Rs 800 crore to acquire 80 per cent stake in payment solutions exchange ItzCash. Ebix is an international supplier of on-demand software and e-commerce services to the insurance, financial, e- governance and healthcare industries. Founded in 2006, ItzCash is Indias leading digital payments firm, the company has since expanded verticals such as remittances, financial services, corporate solutions, PoS and payment gateway. With the new investment by Ebix, the company is looking to foray into areas such as credit, insurance, healthcare and investments to accelerate growth momentum going forward, a release said. "We are big believers in the power of exchanges and thus have been keen to take an early position in India in terms o...

Paytm Starts Payments Bank, Will Offer 4% Interest Rate

23May By AdityaNo Comments

News

Paytm Starts Payments Bank, Will Offer 4% Interest Rate

New Delhi, May 23- Targeting 500 million customers by 2020, digital payments firm Paytm today launched its payments bank with 4 per cent interest rate and cashbacks on deposits, zero fees on online transactions and no minimum balance requirement. Backed by Chinese firm Alibaba and Japanese conglomerate SoftBank, the company has earmarked initial investment of Rs 400 crore to build its banking network over two years. Paytm is the third entity in the country to launch a payments bank after Airtel and India Post. "RBI has given us an opportunity to create a new kind of banking model in the world. We are proud that our customer deposits will be safely invested in government bonds, and be used for nation building. None of our deposits will be converted into risky assets," Paytm Payments Bank...