Friday, March 29

Tag: Merge

Myntra & Jabong Merge, Lay off 150 Employees
BUSINESS

Myntra & Jabong Merge, Lay off 150 Employees

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 business functions and streamlining processes. This has resulted in revenue growth and a significant improvement in the customer experience.As the next step in this process, Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative teams," the company stated. As a part of the deal, Narayanan will continue to lead the team and also the company's independe...
SoftBank Encouraging Uber to Merge Operations with Ola
News

SoftBank Encouraging Uber to Merge Operations with Ola

Several news sources are reporting that Japanese giant investor SoftBank Group is putting pressure on Indian ride-hailing company Ola to merge with American rival Uber as part of a consolidation plan in India which represent the fastest growing market for ride hailing. SoftBank is currently the largest investor in both the companies and are reported to have been holding talks for over a year concerning the merge. The wish of Softbank to see the deal go through intensified after Uber decided to leave the ride-hailing market of Southeast Asia after admitting defeat to local competitor Grab last week. Reports suggest that the deal will be completed in the coming two months as both companies wish to have controlling stakes in the deal. This is the main reason why the deal is taking so long ...