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Now Infosys Will Lay Off Around 100+ Employees

10May By AdityaNo Comments

News

Now Infosys Will Lay Off Around 100+ Employees

Infosys 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. Interestingly, Infosys has said it will hire 10,000 Americans in the next two years and open four centres in the US as it seeks to counter moves by the US to tighten visa norms. "Our performance management process provides for a bi- annual assessment of performance... A continued low feedback on performance could lead to certain performance actions, including separation of an individual and this is done only after feedback," Infosys spokesperson said in an emailed statement. The spokesperson did not di...

Snapdeal Sale: Softbank a Step Closer to Bring Nexus on Board

10May By Press Trust of IndiaNo Comments

News

Snapdeal Sale: Softbank a Step Closer to Bring Nexus on Board

Japans SoftBank is believed to have moved a step closer to securing the consent of co- investor Nexus Venture Partners (NVP) for selling Snapdeal to Indias largest e-commerce firm Flipkart. A meeting was held today and the impasse over the sale could end soon, people familiar with the matter said. SoftBank the largest shareholder in Snapdeal has been making all efforts to get NVP on board for the sale of Snapdeal, and a breakthrough could come as early as this week. They added that while attempts have been going on for the past few weeks, NVP finally seems to be warming up to the idea. A board meeting is expected to take place tomorrow to deliberate upon the issue. E-mails sent to Snapdeal, SoftBank and NVP did not elicit any response. An yes from NVP is crucial for the deal to...

Chaayos Will Open 20-30 Outlets in Few Months

9May By AnkitaNo Comments

News

Chaayos Will Open 20-30 Outlets in Few Months

Homegrown tea cafe chain Chaayos is looking to scale up its presence in Mumbai and Delhi, and plans to open about 20-30 outlets in the next few months. "We are looking at expanding in and around our current hubs Delhi and Mumbai. We are looking to open about 20-30 outlets in the next few months," Chaayos co-founder Raghav Verma told Pixr8. Chaayos currently runs 31 outlets across Delhi-NCR and Mumbai. "We can open another 15-20 outlets in Mumbai itself going forward, as it is under-penetrated. We are looking to open outlets in Pune, Gujarat, Goa, Chandigarh, Jaipur, and highways around NCR this year," he added. The Tiger Global-backed company is also betting big on the deliveries business, Verma said. "Our deliveries business is growing rapidly at almost 20 per cent mo...

Indians Make 50 Million Per Minute Whatsapp Video Calls Daily

8May By AdityaNo Comments

News

Indians Make 50 Million Per Minute Whatsapp Video Calls Daily

Indians make 50 million minutes of video calls daily via WhatsApp, the highest compared to users in any other part of the globe. WhatsApp, a popular messaging app that competes with the likes of Hike, Googles Allo and Viber in India, started offering video calling feature in November last year. The video calling feature also pitched WhatsApp against popular video calling apps like Microsoft Skype, Apples FaceTime and Google Duo. Since then, it has seen a steady growth in usage. One of the driving factors has been falling data prices and free promotional data by new comer, Reliance Jio. As per data shared by WhatsApp, India is the top country for video calling minutes with over 50 million video calling minutes per day. Globally, users make over 55 million video calls per day,...

Urban Ladder Launches First Exclusive Sofa Lounge

7May By AnkitaNo Comments

News

Urban Ladder Launches First Exclusive Sofa Lounge

Urban Ladder, a leading consumer brand in the home furnishing space, today launched another unique offline store format. Exclusively designed for Sofas, Urban Ladder’s first sofa lounge is located in HSR Layout, Bangalore, the heart of the city’s largest new home belt. Redefining the sofa buying process, the 600 sq. ft. store has been innovatively designed to showcase 60% of Urban Ladder’s highest selling category. The store is supported with a strong digital interface providing customers a cumulative Urban Ladder experience. The physical experience of buying a sofa involves various ergonomic factors such as overall comfort, cushion density, fabric quality, colour etc. Customers can now physically experience the quality and comfort of the range, assess dimensions and fabric preferences....

7May By reutersNo Comments

News

Japan’s SoftBank Takes Driving Seat in Indian Online Shake-Up

After ploughing about $2 billion into minority stakes in Indian e-commerce businesses over the past few years, Japan's SoftBank is upping the stakes, looking to play consolidator and take a more active role at a trio of leading start-ups. According to sources with direct knowledge of the matter, the solar-to-tech conglomerate is seeking to secure a piece of India's industry leaders in everything from payment systems to online shopping and groceries, in a series of deals that would shake up the $65 billion sector. Among the most high-profile plans is SoftBank's push to engineer a merger between Snapdeal, the No. 3 player in one of the world's most competitive online markets and one of its biggest Indian investments to date, and market leader Flipkart. The deal could be finalised as...

Russia Blocks Chinese Social Media App WeChat

6May By PriyankaNo Comments

CHINA, News

Russia Blocks Chinese Social Media App WeChat

Russias telecoms watchdog has blocked Chinas popular messaging app WeChat for failing to fulfil the countrys Internet regulations. Watchdog Roskomnadzor has listed WeChat, developed by Tencent Technology, on the register of prohibited websites, South China Morning Post reported today. "Tencent is aware of the move and communicating with Russian authorities over the matter," a brief statement from the Shenzhen-based company said. Russia requires Internet service providers to register with related government bodies, but Tencent ?had a different understanding? on this issue, the company said. Access to the app was restricted on the basis of Article 15.4 of the law on information, information technologies and information security, according to Roskomnadzor, officially known as the ...

Uber Faces Criminal Probe Over Software Used to Evade Authorities

5May By reutersNo Comments

News

Uber Faces Criminal Probe Over Software Used to Evade Authorities

The U.S. Department of Justice has begun a criminal investigation into Uber Technologies Inc's use of a software tool that helped its drivers evade local transportation regulators, two sources familiar with the situation said. Uber has acknowledged the software, known as "Greyball," helped it identify and circumvent government officials who were trying to clamp down on Uber in areas where its service had not yet been approved, such as Portland, Oregon. The company prohibited the use of Greyball for this purpose shortly after the New York Times revealed its existence in March, saying the program was created to check ride requests to prevent fraud and safeguard drivers. The Times report triggered a barrage of negative publicity for the company. The criminal probe could become a sign...

After Backlash on Internet.org, Facebook Launched Another Wi-fi Service Program in India

4May By PriyankaNo Comments

News

After Backlash on Internet.org, Facebook Launched Another Wi-fi Service Program in India

Social networking giant Facebook has rolled out in India, its Express Wi-Fi service that offers Internet facility through public hotspots to users in rural parts of the country. The commercial roll out of the project comes a year after Facebook pulled the plug on the controversial Free Basics programme that drew severe criticism from advocates of net neutrality. Unlike Free Basics that provided access to selected websites for free, Express Wi-Fi works on a "paid" model and the access will not be restricted to any particular websites. Users can log onto public wi-fi hotspots made available through partner telecom operators and buy daily, weekly or monthly data packs being sold through local entrepreneurs. Facebook has also onboarded as a partner, telecom giant Bharti Airtel, whi...

Amazon to Add 7 New Warehouses in India, Hire 4,000 people

3May By Press Trust of IndiaNo Comments

BUSINESS, News

Amazon to Add 7 New Warehouses in India, Hire 4,000 people

E-commerce giant Amazon continues to aggressively expand its operations in the country with the addition of seven new warehouses, a move that will provide employment to about 4,000 people. The US-based company, which has committed an investment of USD 5 billion in the Indian market, will have 41 warehouses or Fulfilment Centres (FCs) by the end of June this year. Amazon, which is locked in an intense battle with local rival, Flipkart, has been pumping in funds to expand infrastructure and technology platform in the country. "This (new FCs) will double our storage capacity this year as compared to last year. We continue to invest in strengthening our infrastructure to match our pace of business expansion in India," Amazon India Customer Fulfilment Vice President Akhil Saxena told P...

Bengaluru Based Apparel Seller Files Case Against Snapdeal

3May By AnkitaNo Comments

News

Bengaluru Based Apparel Seller Files Case Against Snapdeal

City based apparel seller Rajdhani Cotton has filed a complaint with Delhi Police against Jasper Infotech Private Limited, which runs e-commerce firm Snapdeal, and its founders Kunal Bahl and Rohit Bansal, for alleged non-payment of dues to them. Speaking to Pixr8 here, one of the promoters of Rajdhani Cotton, Rajat Gupta, said, "We have lodged a complaint with Delhi police to look into a matter of cheating and breach of trust. Snapdeal owes us Rs 67.6 lakh for business transactions between April 2014 and April 2016, but it has fraudulently withheld payments." Police has filed a case against Jasper and its founders Kunal Bahl and Rohit Bansal, under IPC sections 406 (breach of trust), 420 (cheating), 467 (forgery), 468 (forgery for purpose of cheating), 120B (criminal conspiracy), ...

3May By PriyankaNo Comments

News

Paytm Sold Over 30 kgs of Digital Gold

Alibaba-backed Paytm today said it has sold over 30 kgs of digital gold in six days of launching the service in partnership with gold refiner, MMTC- PAMP. Last week, the two companies had launched Digital Gold service that allowed customers to buy and sell gold through Paytms electronic platform. The facility allowed people to buy gold for as low as a Re. "We are registering high traction from smaller cities as well since consumers now have better access to high quality gold at small ticket prices," Paytm Senior Vice President Krishna Hegde said in a statement. Using their Paytm mobile wallets, consumers can purchase 24K 999.9 purity gold online and store it in MMTC-PAMPs secure vaults free of charge. They can also request for their gold to be delivered at their homes in the...