Connect with us

Latest News

New Uber CEO Meets Employees In An All Hands Meeting

Published

on

New Uber CEO Meets Employees,New Uber CEO,2017 Business Latest News,Dara Khosrowshahi as Uber New CEO,startup stories,Uber CEO Dara Khosrowshahi,uber latest news,Uber New CEO,Uber new CEO Salary,Uber News Today

The new Chief Executive Officer of Uber, Dara Khosrowshahi met all the employees in an ‘all hands’ meeting to discuss the future of the company and bid adieu to the former CEO and co founder Travis Kalanick. The incoming CEO made his intentions for the company clear and announced his plan to take the ride hailing startup public in the next 18 to 36 months.

Khosrowshahi, who will take up his post as the new CEO next Thursday, addressed a packed room regarding the need to address cultural issues within the organization and restore confidence in the startup currently valued at $ 69 billion. The former Expedia CEO who had to flee Iran at the age of 9 said he is a fighter and will fight with every bone in his body. “We’re in a battle here. I think everybody knows it. I’m here, I made the decision, I am all in, and I’m going to fight for you with every bone in my body,” he added.

 

Uber which is facing the most scandal ridden and tumultuous time will need major changes at the leadership level as well as a cultural shift to restore faith in its consumers and stakeholders. Khosrowshahi added his priorities were to meet with the leadership team and fill the many management holes such as the vacancies for several key positions and get together with employees around the world, in smaller groups, over the next few weeks. The company at the time does not have a CFO, a chief operating officer, a chief marketing officer, a general counsel and a senior vice president of engineering.

Khosrowshahi who will be taking the full charge of the company reiterated his plans to focus on “paying the bills” or the core business and regaining market share from its rivals. His vision for Uber 2.0 will focus on a cultural shift in the company and he added that culture needs to be written from the bottom up, rather than pushed down from the top.

Ousted CEO Travis Kalanick in an email to the employees said he couldn’t be happier “to pass the torch to such an inspiring leader,” who helped grow Expedia into one of the world’s most successful travel and technology platforms. Kalanick also bid a tearful farewell to the employees at the meeting who responded with a standing ovation for the co founder. An emotional Travis described the last six months as the hardest of his life and admitted to making many mistakes in his tenure as CEO.

Early shareholder Benchmark, who sued Travis Kalanick for misleading the board, also approved the appointment of Dara as the new chief executive officer.

Continue Reading
Advertisement
Click to comment

Leave a Reply

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

Latest News

Piyush Anchliya Joins Cashfree Payments as CFO Amid Expansion in India’s Fintech Sector

Published

on

Cashfree Payment - StartupStories

Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

Continue Reading

Latest News

Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

Published

on

Flipkart - StartupStories

Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

Continue Reading

Latest News

Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics

Published

on

Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics,Startup News,Startup Stories 2025,Startup Stories India,Startup Latest News,Startup Story,Delhivery,Delhivery’s Acquisition of Ecom Express,Indian Logistics,Stock Market News,Stock Market,Indian Stock Market,Ecom Express,Delhivery Acquires Controlling Stake In Ecom Express,Delhivery's ₹1407-crore Acquisition Of Ecom Express,Ecom Express Acquisition,Delhivery To Acquire Ecom Express,India's Logistics Landscape,Logistics Acquisition,E-commerce Logistics,Indian Logistics Market,Delivery Infrastructure,Logistics Technology,Supply Chain Consolidation,Acquisitions,Stock Market Updates,Business News,Business News Today,Share Market Today,Delhivery Share Price,Delhivery Share,Delhivery Share News,Delhivery IPO,Delhivery Stock News,Delhivery Stock Market,Delhivery New Acquistion

Delhivery, one of India’s leading logistics companies, has announced its acquisition of Ecom Express in an all-cash deal valued at ₹1,407 crore. This strategic move marks one of the largest consolidations in the logistics sector and is expected to enhance Delhivery’s scale, profitability, and operational efficiency.

Background

Ecom Express, founded in 2012 and headquartered in Gurugram, has faced significant financial challenges recently. The company canceled its IPO plans in 2024 and laid off hundreds of employees due to operational setbacks, including losing a major client, Meesho, which shifted to its in-house logistics service Valmo. These struggles led to a distressed sale, with private equity investors like Warburg Pincus and Partners Group exiting their stakes entirely.

Strategic Benefits for Delhivery

  1. Enhanced Scale: The acquisition will strengthen Delhivery’s network reach and infrastructure, enabling better service delivery across India.
  2. Operational Synergies: Combining operations with Ecom Express will improve efficiency and reduce costs through economies of scale.
  3. Competitive Edge: With Ecom Express as a subsidiary, Delhivery solidifies its leadership position in the logistics space by offering broader coverage and faster services.

Challenges Addressed

The acquisition mitigates risks from Ecom Express’ financial struggles while addressing past disputes between the two companies over inflated shipment volumes reported by Ecom Express during IPO filings.

Future Outlook

The deal is expected to close within six months after regulatory approval from the Competition Commission of India (CCI). Post-acquisition, Ecom Express will operate as a subsidiary of Delhivery, unlocking new growth opportunities such as advanced logistics technology integration and expanded customer reach.

With ₹5,488 crore in cash reserves as of September 2024, Delhivery is well-positioned to finance this acquisition without compromising financial stability. This move underscores Delhivery’s commitment to innovation and efficiency in India’s rapidly evolving logistics landscape.

Continue Reading
Advertisement

Recent Posts

Advertisement