Walmart

Representative image Walmart Inc-owned payments unicorn PhonePe's consolidated net loss for 2020-21 (FY21) remained largely unchanged, even as the company reported a sharp rise in revenues, as its employee costs surged over two times during the period. PhonePe reported a consolidated net loss of Rs 1,728 crore for FY21, against a consolidated net loss of Rs 1,771 crore a year earlier, according to financial data accessed by the business intelligence platform, Tofler. During the year, the company reported an 85 percent rise in its revenue from operations to Rs 690 crore, the data showed. PhonePe's employee benefit costs for the year jumped to Rs 1,235 crore from Rs 480 crore a year earlier, the data showed. According to Tofler, the share-based remuneration to the key management personnel for FY21 was Rs 608 Crore. However, the company halved its advertising and promotional expenses to Rs 535 crore from Rs 1,017 crore a year earlier. The payments company, in April, had said … [Read more...] about PhonePe’s FY21 loss little changed even as revenues soar 85%

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

Razorpay plans to raise its workforce to 5,200 by December and fill the remaining 200 positions in a year’s time from now Bengaluru-based digital payments platform PhonePe plans to double its employee strength by the end of December as it taps a boom in online transactions, the company said on April 5. The company , the market leader in transactions on the Unified Payments Interface (UPI), has 2,600 employees and 2,800 open job positions across cities such as Bengaluru, Pune, Mumbai, and Delhi it is seeking to fill. It plans to raise its workforce to 5,200 by December and fill the remaining 200 positions in a year’s time from now. PhonePe, owned by Flipkart and Walmart, plans to hire employees across engineering, products, analytics, business development, and sales. Also Read: PhonePe Pulse Q4 2021 Report: Maharashtra crosses 1 billion transactions, merchants drive highest payments Close “We are building a long-term sustainable organisation, anchored on … [Read more...] about PhonePe to double employee count by December

Pharmapacks co-founder Andrew Vagenas knows a thing or two about risk. The Bronx, New York-based entrepreneur took a leap on e-commerce only five years ago--while industry stalwarts Amazon and eBay long had a presence online. Fortunately, he's also familiar with reward. Thanks to a clutch addition to his team, the health and beauty products retailer now has Walmart knocking at its door. Plus, the company landed at No. 115 on the 2015 Inc. 5000 , with $32 million in 2014 revenue and a three-year revenue growth rate of 3,035 percent. --As told to Anna Hensel. In 2010, one of my partners and I owned a retail pharmacy in the Bronx. We were a pretty successful mom-and-pop shop, until one day everything changed: We thought we'd try selling our products online. We had access to merchandise, and I just wanted to see how well we could do. Our test went pretty well, so I reached out to family and friends--raising $750,000. I bought a little warehouse in New York City. It took us … [Read more...] about How This Entrepreneur Turned E-Commerce Giants Into Customers

Heads of Korea's top companies are making overseas trips to promote Busan's bid to host the 2030 World Expo and deal with other challenges like supply chain disruptions and rising raw material prices and interest rates. Chey Tae-won, chairman of SK Group, embarked on a business trip to Tokyo Thursday. This followed a trip to Paris from Sunday to Wednesday. Chey is also the chairman of the Korea Chamber of Commerce and Industry (KCCI). Chey’s visit to Tokyo was mainly to support the bid for the 2030 Busan World Expo. He will meet with the chairman of the Japan Chamber of Commerce and Industry while also carrying out meetings related to SK’s businesses. Prime Minister Han Duck-soo and Korean Chamber of Commerce and Industry Chairman Chey Tae-won have an interview with Robert Clark, chairman of the 2027 Minnesota Recognition Expo Bidding Committee, at the Intercontinental Hotel in Paris on Monday. [YONHAP] In Paris, where meetings of the Bureau International des … [Read more...] about Business titans go on world tours for Busan, their companies

Share to Twitter Share to Linkedin After the victims have been recovered. After power has been restored and roads cleared. After The New York Times and “Good Morning America” move on to other stories. After visits from the governor and First Lady, towns recovering from a natural disaster face a grueling, monotonous, years-long effort of cleanup, recovery and rebuilding outside the spotlight. There are, after all, no shortage of immediate crises to draw the country’s attention. Bowling Green, Kentucky is past its “attention” phase following a pair of tornados which hit the area on December 11, 2021, resulting in 16 deaths. One other Warren County resident would die shortly after from a heart attack suffered during initial cleanup efforts. The historic storms resulted in 77 deaths statewide and 90 across multiple states during a terrifying outbreak which led national news broadcasts for days. “We have transitioned out of that emergency response … [Read more...] about How Visitors To Bowling Green, Kentucky Can Help Community Still Recovering From Deadly Tornados