As it is said every drop in the ocean counts. Our startup ecosystem is becoming that pool of ocean where in every drop of passionate, ambitious and zealous entrepreneurs counts. With innumerable investors, VCs ready to bathe in the startup sunshine it is becoming hard to keep a record of all what’s happening around.
So, here we bring forth our new section “Ecosystem Update” to ensure our readers that nothing is missed out and best is sourced to bring updates at one stop. Ecosystem Update will bring weekly updates on the related stories that matter the startup ecosystem.
Let us read the this week’s development:
Flipkart Hires Ex-McKinsey Director As COO & former Googler & Motorola VP As Chief Product Officer
Ecommerce giant, Flipkart has hired former McKinsey director Saikiran Krishnamurthy, a leading strategy expert, as chief operating officer of its commerce division which comes under a newly carved-out unit under Mukesh Bansal. The company has also hired former Googler and Motorola VP Punit Soni as its chief product officer. Soni had spent eight years at Google in the U.S., the latter part of which he was VP of Product Management for Motorola.
It is to be noted that Flipkart is on the task of strengthening its top executives team of various fields. The company set aside an additional 2.5% of its capital for expanding its employee stock ownership plan (ESOP) as it scouts for top executives to join its newly reorganised senior leadership team.
Askme hires Advertising Agency J Walter Thompson
Online search engine Askme.com, that provides information almost everything from restaurants to matrimony to jobs, has hired J Walter Thompson for an advertising budget of INR 350 Cr which could further make it the largest advertiser among Indian online companies, ahead of ecommerce biggies like Flipkart, Snapdeal and Amazon India. The JWT will help position Askme brand as a destination of choice across company’s target consumers in this category that full of clutter comprising competition with huge marketing budgets.