Connect with us

Latest News

Flipkart Group Completes $ 100 Million Employee Stock Repurchase Plan

Published

on

Flipkart, India’s biggest ecommerce company, successfully completed the repurchase of employee stock options (ESOPs,) worth $100 million. More than 3,000 current and former employees of Flipkart, Myntra, Jabong and PhonePe took part in the stock repurchase program for the fourth time.

The ecommerce firm provided all the eligible, current and former employees of Flipkart and group companies an opportunity t0 sell a part of their vested ESOP units to the company. This is the fourth time in five years the company gave all the ESOP holders this opportunity to encash their vested stock options.

In an emailed statement, Flipkart said this repurchase program will heavily benefit the employees who have been with the company since 2010. The official statement further added, “Flipkart employees get a threshold period of one year, the stock options start vesting on monthly basis over a four year period after the first year of employment. The decision is welcomed by Flipkart employees across company’s locations in India.

Speaking about the buyback program, Sachin Bansal, the Chairman of Flipkart and Binny Bansal, Group CEO said, “Employees are our biggest source of strength, without whom Flipkart couldn’t have built the ecommerce industry in India. As an organization, we believe they should be equal partners in Flipkart’s success. This ESOP repurchase programme is an extension of that culture and a token of thanks for the dedication and hard work they have put in over the years. We’re delighted to be setting the benchmark on this important parameter, not only in the startup industry but the wider Indian private sector as well.”

Recently, in a deal valuing Flipkart at $ 10 billion, Japan based venture capital firm SoftBank offered to buy Flipkart stock from investors and former and existing employees of Flipkart. In December this year, the company reported a 43% rise in Gross Merchandise Value (GMV) for six months quarter that ended on 30 September 2017. The mutual fund investor Morgan Stanley also marked up the valuation of the ecommerce behemoth to $ 9.36 billion from $ 7 billion for the September quarter.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

CoRover Unveils BharatGPT Mini: India’s First Offline Multilingual AI

Published

on

BharatGPT

CoRover has launched BharatGPT Mini, India’s first offline multilingual AI model, at VivaTech 2025 in Paris, with the event officiated by Union Minister Jitin Prasada. This innovative Small Language Model (SLM), featuring around 534 million parameters, is specifically designed for edge devices and low-compute environments, enabling robust AI capabilities without the need for cloud connectivity. Its ability to function entirely offline and support 14 Indic languages makes it a powerful tool for digital inclusion, particularly in rural and remote regions where internet access is limited.

BharatGPT Mini’s architecture is optimized for deployment across various sectors, including healthcare, education, banking, and governance, allowing citizens to interact with essential services in their native languages. The model can be integrated into small businesses, government offices, and other organizations through the CoRover Builder platform, which offers a no-code solution for deploying AI assistants across web, telephony, and IoT systems. By processing data locally and encrypting it on-device, BharatGPT Mini ensures strong privacy and data sovereignty, aligning with India’s strategic goal of developing indigenous AI solutions. 

The launch has garnered strong support from both the Indian government and industry leaders, who see BharatGPT Mini as a catalyst for democratizing access to digital services. CoRover anticipates significant growth in the adoption of Small Language Models, with early feedback indicating a substantial increase in project demand. As CoRover looks to expand its expertise globally, BharatGPT Mini stands out as a scalable, multilingual, and privacy-centric solution, setting a new standard for inclusive and sovereign AI innovation in India’s diverse landscape.

Continue Reading

Latest News

Kerala Startup E-Quark Launches Innovative Mobile Holder with Built-In Charger

Published

on

Equark - StartupStories

Kerala-based startup E-Quark Molecule Innovations Pvt Ltd, headquartered in Thrissur, has introduced an innovative device called Keratin that combines a mobile phone holder with a built-in charger. This unique gadget is designed to offer users a convenient solution to hold and charge their smartphones simultaneously, addressing the common challenge of managing power supply while using mobile devices.

The device enhances user experience by integrating two essential functions into one compact design. It securely holds the phone while providing efficient charging, making it perfect for use on desks, bedside tables, or other personal spaces where easy access and power are needed. This innovation aligns with the growing trend of multifunctional mobile accessories that prioritize both convenience and practicality.

E-Quark Molecule Innovations is a key player in Kerala’s dynamic startup ecosystem, which has been rapidly expanding in tech-driven areas such as electric vehicle charging infrastructure. With the launch of this mobile holder-charger, the company is establishing itself as a leader in user-centric mobile accessories, further cementing Kerala’s position as a hub for cutting-edge technology development.

Continue Reading

Latest News

New Instagram Features Let Users Customize Profiles and Share Quietly

Published

on

Instagram Grid

Instagram is rolling out two major features in June 2025 that promise to give users unprecedented creative control and privacy: grid rearranging and silent posting. The long-awaited grid rearranging tool allows users to freely drag and drop posts anywhere on their profile grid, breaking away from the traditional chronological order. This means users can now curate their profiles for a more visually appealing or thematic presentation, without the hassle of deleting and reposting content—an update especially welcomed by brands, creators, and anyone meticulous about their digital aesthetic.


In tandem, Instagram is introducing the “Post quietly to profile” feature, which lets users add photos and videos to their grid without notifying followers or pushing the content to their feeds. This silent posting option is ideal for those who want to document moments privately, experiment with new content, or maintain a cohesive grid without spamming their audience. It’s designed to reduce the pressure of public sharing, making Instagram a more comfortable space for personal expression and experimentation.

 

These updates reflect Instagram’s commitment to user empowerment and flexibility, responding directly to years of feedback. As Instagram head Adam Mosseri stated, the goal is to help users “create and share without added pressure,” giving them more freedom over how their content appears and how they engage with their audience.

Continue Reading
Advertisement

Recent Posts

Advertisement