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Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The board of food delivery company Zomato on June 24 approved the acquisition of quick commerce company Blinkit for Rs 4,447 crore in an all-stock deal. Also, Zomato ’s restaurant supplies subsidiary Hyperpure will acquire the warehousing and ancillary services business of Hands on Trade Private Limited for Rs 60.7 crore. While the Blinkit deal value was earlier estimated to be upwards of $700 million, the drop in Zomato’s stock price has reduced it to $568 million at current exchange rates. “Quick commerce has been our stated strategic priority since the last one year. We have seen this industry grow rapidly both in India and globally, as customers have found great value in quick delivery of groceries and other essentials,” said Zomato CEO Deepinder Goyal. “This business is also … [Read more...] about Zomato board approves deal to acquire Blinkit for Rs 4,447 crore

The larger job market in India remains buoyant across sectors – even amid layoffs by a clutch of startups in recent months – and employees will generally continue to call the shots through FY23. “We see FY23 to remain an employees’ market with some amount of adjustments. Employees still have the bargaining power, opportunities and enjoy the benefit of demand,” said RP Yadav, chairman of Genius Consultants, a staffing and human resource company. While information technology and IT-enabled services will continue recruiting, e-commerce, logistics and export-oriented sectors including textiles and leather goods are doing well in terms of hiring. The consumer goods sector will increasingly do well, as will the retail and hospitality segment, according to staffing firms, HR experts and talent managers. The near-normal level of economic activity in retail and hospitality is indicative of a revival in these sectors after a prolonged phase of weakness due to the pandemic and offers a … [Read more...] about Amid startup layoffs, larger job market remains buoyant across sectors

PhonePe CEO Sameer Nigam (Image credit: Photo tweeted by @_sameernigam) Payments and financial services company PhonePe has clear plans to list on the stock exchanges some day and when ready the company will launch an initial public offering (IPO) in India, founder and CEO Sameer Nigam said. Speaking in an episode of CNN News18 ’s Bits to Billions, Nigam said that the company is also in the process of moving its registered entity from Singapore to India. Missed Bits to Billions? Watch it here: PhonePe Is Made In India, Will List In India: How Sameer Nigam & Rahul Chari Built A Unique Unicorn "We are moving our holding company to India, and we will list here. Our board has already signed off on it, it's just a matter of time now," he said. "We are a made in India company. Every office, data centre, and employee of ours is here. There is no reason why we should not contribute to wealth creation in this market." Close PhonePe's move to bring back its … [Read more...] about PhonePe is made in India and will list in India, says CEO Sameer Nigam

Deepinder Goyal. Zomato announced on June 24 that its board had approved the acquisition of quick commerce company Blinkit for Rs 4,447 crore. According to the terms of the agreement, Blinkit shareholders will get a cumulative stake of 6.88 percent in Zomato and the target company’s leadership team, including co-founder and CEO Albinder Dhindsa, will stay on to run the ship. But, questions still remain about how Zomato, a company that registered losses of Rs 1,223 crore in FY22, plans to derive value from acquiring another loss-making delivery startup. The food delivery major’s top executives put out a ready reckoner laying out the rationale behind the deal. From having a Blinkit tab on the Zomato app to sharing delivery fleets to cut costs, here are some of the important reasons that came through from what they said: Increased customer wallet share Close “Quick commerce will help us increase the customer wallet share spent on our platform and … [Read more...] about Seven reasons for Zomato’s Rs 4,447-crore Blinkit buyout deal

Apple’s product release events are famous for providing the stage where innovative products and services are introduced to the world for the first time. From Steve Jobs pulling the iPod out of his pocket to the iPhone’s debut, the event’s reputation is well established as a must-see reveal. advertisement advertisement In 2017, Apple’s flagship event was defined not by a groundbreaking new product but by a significant hardware shift. Instead of using a person’s fingerprint or passcode for authentication, the iPhone would use the face as a credential. The tech was called FaceID, and it revolutionized access control for our devices by introducing a secure and passive authentication experience for everyone, becoming second nature, many not realizing what’s going on behind the scenes. The technology was reported to be 20 times more secure than fingerprint readers, and it was one of the projects at Apple that I worked on as an engineer in the new product … [Read more...] about We could be using facial authentication for a whole lot more than unlocking our phones

Representative image Some corporate leaders are grasping at whatever they can to get back to the way things were. But they might find themselves fighting a culture shift beyond their control. As long as work has existed, employers have tried to size up their employees’ commitment to their jobs. Are you on the fast track? The mommy track? The leadership track? Now, if some corporate leaders have their way, there will be a new test for workplace devotion — and anyone who opts for remote work gets a failing grade. But can C.E.O.s really claw their way back to 2019? This past week, Elon Musk issued an ultimatum to Tesla and SpaceX employees requiring them to return to the office for at least 40 hours per week — or lose their jobs. Mr. Musk, who is known for having camped out for weeks at Tesla factories, thinks remote work is an affront to productivity and personal commitment. Last month, he praised Chinese workers for “burning the 3 a.m. oil,” comparing them with … [Read more...] about The Office Monsters Are Trying to Claw Their Way Back to 2019

Share to Twitter Share to Linkedin The compensation of Family Office CEOs has jumped by a huge 133% in the last six years. In 2016, as part of the first Agreus Compensation Benchmark Report, we revealed that the most common salary belonging to CEOs sat between £150,001 and £200,000. By 2017 this had increased to £300,000 and now, the most common basic salary achieved by Family Office CEOs stands at £300,001 - £350,000. An increase of as much as £200,000 in just six years. In 2016, the average CEO salary stood at £165,000. Fast-forward to today and this average sits around the £200,001 to £250,000 mark. When considering the fact that just 6% of CEOs today are paid less than £100,000 and and a further 13% less than £150,000, you can imagine this figure is much higher in practice with 49% achieving way over £200,000 a year. This is particularly interesting when looking at national salary increases for the same time period. While Family Office CEO … [Read more...] about Family Office CEO Compensation Jumps By More Than 100%