Paytm accused Snapdeal-owned Unicommerce, an ecommerce management software and fulfilment solutions provider, for accessing confidential business data on its (Paytm’s) commerce platform via the sellers on this platform. Paytm filed a lawsuit against the company in the Delhi high court. Delhi High Court has put a stay order on Unicommerce from using any data or information derived from the sellers of Paytm.
Important Developments Of The Week
Hiree Lays Off 80% Of The Workforce
Online recruitment firm Hiree laid off 80% of the workforce. The company has retained only junior level staff and has fired the rest. The founding member commented that as part of the normal business growth, efficiency building and optimise costs, the step has been taken.
PepperTap To Shut Down Its Hyperlocal Delivery Operations
PepperTap announced the shutting down its customer centric grocery delivery app by the end of this month. Company’s founder confirmed that the company is pivoting to a full stack ecommerce logistics company.
Sequoia Capital’s Bangalore Office Raided By ED
The Enforcement Directorate (ED) searched Sequoia Capital’s Bangalore office. The search was done regarding the Aircel Maxis Scam. Sequoia Capital confirmed the reports in a series of tweets and said that it is fully complying with the investigation.
Softbank’s Nikesh Arora In Trouble
SoftBank Group Corp. has requested the board to investigate and possibly dismiss Nikesh Arora. In a complaint, the group has questioned his track record and qualifications as president and heir to billionaire founder Masayoshi Son.
Govt Launches Twitter Seva
The government launched its new initiative ‘Twitter Seva’, a helpline for entrepreneurs on micro-blogging site Twitter. ‘Twitter Seva’ is expected to work as a source of direct point of contact for entrepreneurs seeking funding, support or government assistance of any kind.