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Flipkart – Walmart Deal: All The Latest Information

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Flipkart Walmart Deal,Flipkart Latest Information,Startup Stories,2018 Latest Business News,Startup News India,Entrepreneur Stories 2018,Ecommerce Startup Flipkart,Indian Startup Ecosystem,Walmart Buys Stake in Flipkart,Flipkart Business News,Flipkart Walmart Business

Three months ago reports surfaced the international retail giant Walmart was looking to invest in homegrown ecommerce startup Flipkart. While sources suggested the deal may close as soon as March, but new reports hinted Seattle based ecommerce giant Amazon.com was also looking to make a bid for a potential investment in the company. Since then, there has been a continuous back and forth between Walmart and Amazon to finalize a record breaking deal.

Recently, a number of key Flipkart shareholders agreed to sell their stakes in the company to Walmart. However, sources close to the development said SoftBank, which is the largest shareholder in Flipkart, is holding out for a better price. In order to become the largest investor in the Bengaluru based company, Walmart Inc., has already reached an agreement with the New York based investment firm Tiger Global Management, the South African media conglomerate Naspers, the venture capital firm Accel and China’s Tencent Holdings. According to The Economic Times, Sachin Bansal and Binny Bansal may sell a part of their stake in the company as well. However, a new hurdle in the form of the ecommerce firm eBay, may hamper the deal.

Recode reported, Walmart may have to first work out a deal with eBay, a Flipkart investor and partner, in order to buy a majority stake in India’s online shopping site. eBay, which invested close to $ 500 million in Flipkart last year, has a 5% stake in the business and handed over its eBay India operation as a part of the deal. Along with the investment, the San Jose based firm also signed a four year exclusive commercial arrangement to partner with Flipkart. The four year exclusive commercial arrangement gave the merchants who sell on Flipkart access to more than 150 million new customers from eBay, while eBay sellers outside of India got access to a new group of consumers inside the country. In accordance with this agreement, Walmart may not be able to seal merchandise based deals with Flipkart, unless Walmart and eBay come to some agreement. Recode further added, according to one person familiar with the arrangement eBay can also take back control of the eBay India brand name if Flipkart is acquired.

On the other hand, SoftBank has reportedly remained relatively cold to overtures made by Walmart. The Japan based venture firm invested close to $ 2.5 billion in Flipkart last year after the failed merger deal between Flipkart and Snapdeal. According to a report by The Economic Times, SoftBank was offered a $ 10-12 billion valuation to purchase its shares in Flipkart. One of the sources also said, “Discussions with SoftBank are still ongoing. Most of the others have come aboard. In a deal like this, there are always ebbs and flows, but there is a time factor to consider as well.

Flipkart has slowly grown to become one of the most valued company in the Indian startup ecosystem. With close to 8,000 permanent employees, the company has made at least 10 acquisitions in the 10 years of its existence. The firm managed to establish itself in the ecommerce industry by introducing the “cash on delivery” payment method, one of the biggest factors for its success.

 

Note: This article will be updated as and when we get further information.

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Wipro Appoints Insider Omkar Nisal as Europe CEO!

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Wipro Appoints Insider Omkar Nisal as Europe CEO!

Wipro has announced the appointment of Omkar Nisal as the Chief Executive Officer for its Europe Strategic Market Unit (SMU), effective immediately. Nisal, who has been with Wipro since 2012, will be based in London and will report directly to CEO and Managing Director Srini Pallia. He will also join Wipro’s executive board.

Nisal succeeds Pierre Bruno, who is stepping down after a four-year tenure leading Wipro’s European operations. Bruno will continue to work with Nisal during the transition period to ensure a smooth handover of responsibilities.

Omkar Nisal’s Role

In his new role, Nisal will be responsible for leading Wipro’s growth and expansion in Europe. He brings a wealth of experience and a deep understanding of the European market. Prior to this appointment, he served as Senior Vice President and Managing Director for the UK and Ireland, overseeing a significant portion of Wipro’s European business with a regional profit and loss (P&L) exceeding $1 billion.

 

Nisal has established himself as a trusted advisor to clients, particularly in the banking and finance sectors. He has played a key role in enabling digital transformation for numerous financial institutions across the UK, Europe, the Middle East, and Africa, focusing on customer journey redesign, enterprise engineering, and AI-led automation.

A Focus on Digital Transformation

Nisal is recognized for his expertise in digital transformation and his ability to build strong client relationships. Under his leadership, Wipro aims to strengthen its position in the European market by leveraging innovative technologies and enhancing service delivery. His strategic vision is expected to play a pivotal role in driving future growth and improving operational efficiency within the region.

Context of the Appointment

Nisal’s promotion reflects Wipro’s ongoing strategy to promote internal talent to key leadership positions amidst significant changes within the company. In recent months, Wipro has experienced several high-profile departures, including former CEO Thierry Delaporte and other senior executives. This shift in leadership is part of a broader effort by Srini Pallia to revitalize Wipro’s operations and improve performance in key markets.

Wipro views Europe as a crucial growth market and is prioritizing strategic investments to solidify its foothold. The company has faced challenges in this region, with reports indicating that its European operations accounted for 27.9% ($742 million) of its total revenue for the quarter ending September 2024, down from previous periods. This underperformance highlights the importance of effective leadership in revitalizing growth.

Conclusion

The appointment of Omkar Nisal as CEO of Wipro’s Europe SMU marks a strategic move aimed at enhancing the company’s competitive edge in a rapidly evolving technological landscape. With his extensive experience and proven track record in digital transformation, Nisal is well-positioned to lead Wipro’s efforts in expanding its presence and delivering exceptional results for clients across Europe.

 

As Wipro navigates these changes, stakeholders will be closely watching how Nisal’s leadership influences the company’s trajectory in one of its key markets. His focus on innovation and customer-centric strategies is expected to play a vital role in shaping Wipro’s future success in Europe.

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Swiggy Takes on Zomato with New ‘Scenes’ App for Live Events!

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Swiggy Takes on Zomato with New ‘Scenes’ App for Live Events!

In a direct challenge to Zomato’s recent foray into the events and experiences market, Swiggy has launched its own dedicated app, ‘Scenes.’ This new platform aims to curate and offer a diverse range of live events, including music concerts, stand-up comedy shows, and exclusive dining experiences. The launch of Scenes marks an important strategic move for Swiggy as it seeks to expand its service offerings beyond food delivery.

A Focus on Live Events

Unlike Zomato’s District app, which covers a broader spectrum of experiences, Swiggy’s Scenes is specifically tailored to live events. Users can browse through a curated list of events, purchase tickets directly within the app, and avail themselves of exclusive offers and discounts. The app currently features events such as New Year’s Eve parties, live music performances, and DJ nights at partner restaurants, enhancing the social dining experience for users.

Expanding the Swiggy Ecosystem

The introduction of Scenes is part of Swiggy’s ongoing strategy to diversify its offerings and strengthen its position as a comprehensive lifestyle platform. The company has been aggressively expanding its services beyond food delivery into areas such as quick commerce and grocery delivery. By venturing into live events, Swiggy aims to capture a share of the growing market for entertainment and experiences.

One BLCK: A Premium Membership

To further enhance user experience, Swiggy has introduced ‘One BLCK,’ an exclusive membership program designed for premium users. This membership offers a range of benefits, including:

  • Priority Delivery: Users receive faster delivery times with an on-time guarantee.
  • Exclusive Perks: Members enjoy complimentary drinks and desserts at partner restaurants.
  • Concierge Services: Personalized customer support enhances the overall service experience.

The membership is priced at INR 299 for three months, targeting users who are willing to pay a premium for enhanced convenience and service.

The Battle Heats Up

With both Swiggy and Zomato vying for dominance in the Indian foodtech market, competition is intensifying. The launch of Scenes represents another chapter in this rivalry as both companies strive to capture a larger share of the burgeoning events and experiences market. Zomato has been proactive in this space, having acquired Paytm’s events and ticketing business earlier this year and launching District as a standalone app for experiences.

As the online entertainment ticketing space continues to grow—projected to reach $7.80 billion by 2029—Swiggy’s entry into this arena positions it well against established players like BookMyShow and TicketNew. The Indian Event and Exhibition Market is expected to see significant growth, driven by rising consumer demand for live experiences.

Conclusion

The launch of the Scenes app underscores Swiggy’s commitment to innovation and its strategy to diversify revenue streams beyond food delivery. As the company continues to expand its ecosystem with new offerings like One BLCK and live event ticketing, it aims to enhance customer engagement and loyalty. With both Swiggy and Zomato competing aggressively in multiple domains—including food delivery, quick commerce, dining out, and now event ticketing—the battle for supremacy in India’s foodtech landscape is set to intensify in the coming months.

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Google and NCERT Partner to Revolutionize Education in India!

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Google and NCERT Partner to Revolutionize Education in India!

Google has announced a strategic partnership with the National Council of Educational Research and Training (NCERT) to enhance access to quality education across India. This collaboration aims to empower students, parents, and teachers by providing engaging, multilingual educational content through YouTube, thereby addressing the diverse learning needs of the Indian population.

Key Highlights of the Partnership

  • YouTube Channels in 29 Indian Languages: NCERT will launch dedicated YouTube channels in 29 Indian languages, including Indian Sign Language, making educational resources accessible to a wide range of learners. This initiative is designed to cater to the linguistic diversity of India and ensure that students from various backgrounds can benefit from quality educational materials.
  • NPTEL Courses on YouTube: In collaboration with the National Programme on Technology Enhanced Learning (NPTEL), Google will offer a variety of credentialed courses on YouTube. These courses will cover subjects such as pure sciences, sports psychology, literature, and rocket propulsion. Learners who complete these courses can obtain certifications through the NPTEL-SWAYAM portal, providing them with valuable credentials recognized by India’s prestigious IITs.
  • AI-Powered Learning: Google will leverage its AI technology to enhance learning experiences by providing contextual information, definitions, and images alongside video content. This feature will help students grasp complex concepts more effectively by offering immediate access to supplementary information relevant to the topics being discussed in the videos.

Impact on Education

This initiative marks a significant step toward bridging the digital divide and empowering learners across India. By providing free, high-quality educational content, Google and NCERT are helping to create a brighter future for the next generation. The partnership not only aims to improve educational outcomes but also seeks to foster digital literacy among students and educators alike.

Jonathan Katzman, Director of Product Management at YouTube Learning, emphasized the importance of this collaboration: “Learning has always been at the heart of YouTube. In India, where accessible education is crucial for unlocking the nation’s potential, YouTube can help make learning content more accessible through innovative partnerships, tools, and resources.”

Conclusion

As Google and NCERT work together to roll out this initiative, they are poised to make a substantial impact on education in India. By harnessing technology and focusing on multilingual content delivery, this partnership aims to empower thousands of students and educators across the country. As educational needs continue to evolve, such collaborations will play a vital role in shaping a more inclusive and effective learning environment for all.

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