Foodpanda has reduced its workforce by 15%. As per the company, the move is aimed towards profitability combined with adjustments to its business model. It has reduced manual intervention and achieved about 98% automation rate in order processing. The company fired more than 300 people.
Flipkart Partners With Viacom 18
Ecommerce giant, Flipkart, partnered up with Viacom 18 for the licensing of three of their largest brands – Teenage Mutant Ninja Turtles, Spongebob Squarepants and Peanuts for sellers. With this, the company aims to ease the process for International brands entering India and to offer more authentic and branded merchandise to consumers. The tie up with Viacom 18 will license three of its largest brands – Teenage Mutant Ninja Turtles, Spongebob Squarepants and Peanuts for sellers.
Amazon India Reports Loss
Cloudtail India Pvt. Ltd, a JV between Amazon.com Inc. and N.R. Narayana Murthy’s Catamaran Ventures, generated a total loss of worth INR 31.7 Cr for the year ended March 31, 2015. The company’s current year’s loss was more than last year. It had incurred loss of INR 14 Cr. last year.
Startup Village To Nurture 10K Campus Startups
Kochi’s Startup Village entered in its second phase and has announced to support 10,000 startups in next five years. It completed its target to incubate 50 startups by 2015.
Salman Khan Launches KhanMarketOnline
Salman Khan launched an ecommerce website KhanMarketOnline.com. However, what exactly it will offer customers is still under curtains.
CCI Dismisses Meru’s Charges Against Uber
In its complaint to Competition Commission of India (CCI), Meru alleged that Uber was using predatory pricing to increase its market share. However, CCI dismissed the charges stating that the OP Group (Uber) does not hold a dominant position in the relevant market and since OP Group (Uber) does not seem to be dominant, there is no need to go into the examination of its conduct in such relevant market.