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JustDial’s CFO Ramkumar Krishnamachari Steps Down

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JustDial CFO Ramkumar Krishnamachari Steps Down,#StartupStories,Startup Stories,2017 most Read Startup Stories,JustDial CFO Ramkumar Krishnamachari,chief financial officer Ramkumar Krishnamachari,JustDial CFO Ramkumar Krishnamachari resigns,Ramkumar Krishnamachari resigns as Justdial CFO,JustDial CFO Resigns,JustDial Services

The chief financial officer of the online local business search engine JustDial, Ramkumar Krishnamachari has announced his resignation from the firm. In a stock exchange filing, JustDial announced the CFO will be relieved of his duties with effect from 30 September 2017.

This is the second high profile exit of a JustDial executive following which there was a 5% dip in their shares. Krishnamachari joined JustDail in 2010 led the firm’s finance, legal, taxation and secretarial functions. He laid the foundations for the firm’s initial public offering (IPO) in 2013 and was responsible for investor relations and stakeholder management.

The company posted a net profit of Rs. 25.3 crore for the fourth quarter and recorded a 37.2% dip in their net profit for the quarter ended 31 March 2017. The stock of the company ended at Rs. 363.15, down 4.90% on NSE and reached an intra day low of Rs. 360.60. Their market valuation also saw a decline of Rs. 129.13 crore to Rs. 2,525.15 crore. Global investment banking and diversified financial services group Macquarie said that CFO’s exit comes at a difficult time given that the company continues to grapple with execution issues.

JustDial’s database consists of approximately 17.9 million listings and their app is available on Android, iOS, Blackberry and Windows platforms. Founded by V.S.S. Mani, JustDial provides search services aimed at making several day to day tasks conveniently actionable and accessible to the users. SAIF Partners, Sequoia Capital, Tiger Global, EGCS and SAP Ventures have invested in this company. Amitabh Bachchan also made an investment of Rs. 6.27 lakh in the company by buying 62,794 shares at Rs. 10 per share in 2013.

The company has conducted around 435,360 campaigns for paid advertisers as of March 2017, compared to the 368,800 campaigns as of March 2016, thereby representing a growth of 18% year on year. The company’s database also represented a year on year growth of 9.5%.

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PayU Gets Final RBI Nod to Operate as Payment Aggregator Ahead of 2025 IPO

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PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.

The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.

PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.

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Google’s Iconic ‘G’ Logo Gets First Update in 10 Years

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Google has refreshed its iconic ‘G’ logo for the first time in nearly 10 years, replacing the familiar solid blocks of red, yellow, green, and blue with a smooth, vibrant gradient that blends these colors seamlessly. This subtle update gives the logo a softer, more fluid, and modern appearance, aligning with Google’s evolving digital identity and current design trends.

The new gradient transitions smoothly from red to yellow, yellow to green, and green to blue, making the logo more visually appealing and adaptable across various devices, especially on mobile platforms. This redesign also reflects Google’s growing emphasis on artificial intelligence, echoing the gradient style used in the branding of Google Gemini, the company’s AI-generative assistant.

The updated ‘G’ logo has started rolling out on iOS through the Google Search app and on some Android devices, particularly Pixel phones running the Google app beta version 16.18. However, most other platforms, including the web and non-Pixel Android devices, still display the classic solid-color logo. A wider rollout is expected in the coming weeks.

So far, Google’s main wordmark and other product logos like Chrome, Maps, and Gmail remain unchanged. Given the shift toward gradient designs and AI-inspired visuals, similar updates to other Google icons may follow in the future.

In summary, this first major update to the ‘G’ logo since 2015 signals a subtle but meaningful shift in Google’s branding strategy, blending tradition with innovation as the company deepens its focus on AI and modern design aesthetics.

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Ixigo Halts Bookings for Flights and Hotels to Turkey, China

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Indian online travel platform ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan in response to these countries expressing support for Pakistan after India’s military strikes-dubbed ‘Operation Sindoor’-against terror bases in Pakistan and Pakistan-Occupied Kashmir. The move, announced by CEO Aloke Bajpai on X, was described as an act of solidarity with India during heightened diplomatic tensions following the Pahalgam terror attack.

ixigo’s decision aligns with similar actions by other Indian travel companies, including EaseMyTrip and Cox & Kings, which have also restricted travel services to Turkey, China, and Azerbaijan. The suspensions come amid widespread calls for boycotts after these countries condemned India’s military response and backed Pakistan.

The travel industry’s collective response underscores how geopolitical developments are influencing business decisions, with Indian companies emphasizing national interests and unity in the face of international criticism

 

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