Just 5 days after putting his papers, Housing CEO Rahul Yadav withdrawn his resignation and even apologised for the comments he made about the board members. According to a source close to the development, the authority to take financial decisions have been taken away from Rahul. Softbank, which holds 32% stake in Housing, will form an executive committee that will control the finances and operations of the company on a weekly basis. Adding on, Rahul now can take decisions only with the executive committee’s approval and all top employees will report to Bullock.
Lets have a look at the important developments of the week:
PayU India rebrands PayU Enterprise as PayUbiz, Plans To Spend 60 Cr. In Branding & Marketing
Naspers subsidiary, PayU India has rebranded both its products PayU Enterprise and PayUmoney. The move was taken to establish the two as clear independent businesses with a strong social identity, distinguishable from its counterparts. PayU plans to spend about INR 60 Cr in a nine week branding and marketing campaign. That sums up to an expenditure of about INR 94 lakhs per day. Followed which will be the second phase of the campaign with a new budget later this year. Co-founded by Shailaz Nag and Nitin Gutta in 2011 PayU is a Gurgaon-based payment solution provider operating as a subsidiary of a multinational media company, Naspers.
MP Govt Orders FIR Against Paytm Directors
Paytm directors Vijay Shekar Sharma and Harendra Pal Singh have been booked by the Madhya Pradesh police on May 3, for allegedly aiding a fraud of INR 22 lakh in which over 313 people were duped using the Paytm service. An FIR for Forgery under the IT Act has been booked against the directors.
FirstCry to roll out same-day delivery across 18 cities
Baby care portal FirstCry is starting its same-day delivery proposition across 18 cities for no extra cost. They have roped in logistics player XpressBees to launch the service in metros and tier-2 cities, with an option of next-day delivery at 51 centres. The orders will be fulfilled from warehouses and stock points of FirstCry, which works on an omnichannel strategy with 100-plus physical stores. The parent company of FirstCry, Brainbees Solution, incorporated in 2010, has been simultaneously developing its logistics arm XpressBees since 2014. The logistics arm is headed by Harshal Bhoi, senior vice-president at XpressBees and former head of ecommerce solutions at logistics service, Gati.
The Price War Begins: Big Bazaar To Launch Price Comparison App Next Month
To combat the heavy discount offered by giant ecommerce firms, Kishore Biyani’s Big Bazaar takes one step further and announced the launch of a price-comparison app which will feature a price-match offer where if you shop from Big Bazaar and anybody else is selling cheaper than them at that moment, you will automatically get credits in your account – anything online or offline.Customers will have a week from the date of purchase to make the price comparison. The price comparison app is currently being tested by Future Group employees at the Food Bazaar store in Vikhroli in Mumbai. The app is expected to be launched in the next month.