Rahul Yadav’s behaviour towards investors, ecosystem and the media has been called the basis of this decision of firing him from the board. Company said in an official statement, “The Board believed that his behavior is not befitting of a CEO and is detrimental to the company.”
Lets have a look at the important developments of the week:
Amazon became the most visited ecommerce site in India
According to data collected by Internet analytics firm comScore Data, Amazon India had 23.6 Mn unique visitors, followed by Flipkart with 23.5 Mn visitors and Snapdeal, which had 17.9 Mn visitors in the month of May.
Narendra Modi Launched Digital India Project
Digital India is government’s initiative to connect the entire country through broadband by 2019. Project will bring 2.5 lakh villages under broadband connectivity, promote e-governance, realize universal phone connectivity to make India a global leader of IT in services like health, education and banking. PM has also announced various schemes including Digital Locker, e-education, e-health and National Scholarships Portal.
FabFurnish Co-founders, Vikram Chopra and Mehul Agrawal quit the company
Paytm Launched A Bus Ticket Marketplace
The company forays into travel segment with four travel aggregators on board to incorporate all bus routes on its system.This launch is a part of Paytm’s strategy to enter as many new segments, to grow its gross merchandise value ( GMV) to $3-4 Bn by the year end.
Uber Pulls Off A Simultaneous Launch In Seven Cities
The launch took place in Bhubaneswar, Coimbatore, Indore, Mysore, Nagpur, Surat and Visakhapatnam. With this, now Uber has it services in 18 Indian cities.