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With a mounting number of consumer Internet companies in India, the latest hold-up, which is keeping the firms on their toes, is attrition. The top-most Internet firms are in a scuffle with the management executives who were recently hired from the <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword>. 
 Top <keyword id="436047" type="UNKNOWN" weightage="20" keywordseo="Ecommerce">eCommerce</keyword> firms, including <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, Zomato and <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>, recently made headlines for their hiring spree and splurging millions of dollars on their executives, are now troubled due to heavy migration of skilled professionals. 
 Sunit Mehra, managing partner at <keyword id="3077520" type="COMPANY" weightage="20" keywordseo="Hunt-Partners-India">Hunt Partners India</keyword>, which is an executive recruitment company, says, Consumer Internet companies in India "are growing so rapidly that they haven't built the fundamental concept of retaining people, especially at the top-level." 
 Flipkart, one of India’s largest eCommerce firms, recently lost Srivals Kumar after he resigned as general counsel and legal head due to organisational restructuring. The firm, then, immediately hired Rajinder Sharma, former director and general counsel – South and West Asia, at <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword>. 
 Not just this, but around four other senior executives have quit Flipkart this year including Mekin Maheshwari (chief people officer), Ravi Vora (chief executive of strategic brands group), <keyword id="1937803" type="UNKNOWN" weightage="20" keywordseo="Amod-Malviya">Amod Malviya</keyword> (chief technology officer) and <keyword id="6518849" type="PERSON" weightage="20" keywordseo="Sameer-Nigam">Sameer Nigam</keyword> (engineering head). 
 Flipkart, the firm which is valued at $15 billion, however, have been hiring a number of skilled professionals like it recently hires former <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword> executive Punit Soni as chief product officer, as reported by The Economic Times. 
 
In a similar episode, Zomato’s Durga Raghunath too left the firm as senior vice-president after after a six-month stint to find an online publishing company. Hence, he also joined a list of senior executives who have quit the venture this year. 
 The former chief product officer <keyword id="513563" type="PERSON" weightage="20" keywordseo="Namita-Gupta">Namita Gupta</keyword> and former chief marketing officer <keyword id="3077519" type="UNKNOWN" weightage="20" keywordseo="Ramneet-Arora">Ramneet Arora</keyword> also quit the firm in less than a year’s time. 
 
Prateek Srivastava, founder and CEO of talent acquisition firm Basil Advisors, says, "A lot of the hiring (at Indian internet companies) is pushed by the investors, and while the companies have hired top-notch people from the Valley, the culture here is very different." 
 
Arvind Singhal, the former CEO of Ola’s TaxiForSure unit, also joined the listings along with Swaminathan Seetharaman, who resigned as vice-president for engineering. 
 
"(The resignations have) less to do with compensation. You can attract the best talent with money, but you're not going to always retain them with money," Srivastava added.

How eCommerce will retain the talent it is importing from Silicon Valley?

Senior managers, working at startups like <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart%2C+Snapdeal+and+Amazon">Flipkart, Snapdeal</a> and Ola, are no more interested in these top consumer Internet companies in India. They are heading for the exit door, with many citing a mixture of low job satisfaction and poor work-life balance. 
 
This change is seen at a time when <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+startups">Indian startups</a>, boosted by soaring valuations, are on an aggressive spree to hire new talents. So are these mangers hungry to start their own companies? Lets’ read and know! 
 <keyword id="3019928" type="UNKNOWN" weightage="60" keywordseo="Swaminathan-Seetharaman">Swaminathan Seetharaman</keyword>, who earlier worked as the vice-president for engineering at taxi app firm <a href="http://www.businessinsider.in/searchresult.cms?query=Ola+">Ola</a> and quit after about a year at the company, said: "There are multiple levels of decision-making as an organisation grows and individual contributions to make impact get diluted." 
 The 41-year-old Seetharaman, who led the development of consumer mobile interfaces while at Ola, teamed up with former colleagues <keyword id="2047443" type="UNKNOWN" weightage="60" keywordseo="Ganesh-Subramanian">Ganesh Subramanian</keyword> and <keyword id="576027" type="PERSON" weightage="60" keywordseo="Nitin-Agarwal">Nitin Agarwal</keyword> to launch an on-demand services marketplace Pianta. 
 
Termed unicorns — or companies valued upwards of a billion dollars — Flipkart, Snapdeal and Ola have all witnessed exits of senior managers in recent months. 
 The latest exit was of <keyword id="843670" type="PERSON" weightage="60" keywordseo="Ravi-Vora">Ravi Vora</keyword>, the head of strategic initiatives at Flipkart, who quit this week. Others to have quit the country's largest <a href="http://www.businessinsider.in/searchresult.cms?query=online+retailer+">online retailer</a> include engineering head <keyword id="6518849" type="PERSON" weightage="60" keywordseo="Sameer-Nigam">Sameer Nigam</keyword>, who left in July. 
 Chief Technology Officer <keyword id="1937803" type="UNKNOWN" weightage="60" keywordseo="Amod-Malviya">Amod Malviya</keyword> transited to an advisory role in July. In February, Delhi-based Snapdeal saw its then CTO <keyword id="2049459" type="UNKNOWN" weightage="60" keywordseo="Amitabh-Misra">Amitabh Misra</keyword> leave to start his own firm. 
 
Restaurant listing guide <a href="http://www.businessinsider.in/searchresult.cms?query=Zomato+">Zomato</a> has seen the exits of marketing heads <keyword id="499896" type="PERSON" weightage="60" keywordseo="Alok-Jain">Alok Jain</keyword>, and subsequently <keyword id="584823" type="PERSON" weightage="60" keywordseo="Rameet-Arora">Rameet Arora</keyword>, who quit within 10 months. Jain has started an ondemand food venture Yumist. 
 The Gurgaon-based company's chief product officer <keyword id="3019927" type="UNKNOWN" weightage="60" keywordseo="Namita-Arora">Namita Arora</keyword> left within a year of joining the firm. 
 
Let’s know the reasons behind leaving the billion dollars companies. 
 
Seniors being relegated: Experts tasked with finding fresh talent for these high-growth startups say several exits stem from seniors being relegated when hierarchies alter. "Shrinking interactions with the founders coupled with decreased influence on impactful decisions are two most frequently cited reasons for individuals to move out of startups," Harish Kumar, founder of headhunting firm Wenger &amp; Watson, told ET. 
 
Volatile work environment, long working hours, and high levels of stress are also wearing out several senior executives at startups. "The culture of having beds for technology teams in offices can backfire and hurt emotional health," said a senior technology executive who quit a Delhi-based startup. 
 
Bid to lock in talent: Dissatisfaction with compensation is also leading to exits in several cases. Startups typically offer employee stock options aimed at locking in talent from a year to four years. Often, employees can cash in about a quarter of their holding after a year. "After that, shares can be redeemed on a pro rata basis every month or quarter, depending on the contract," said Seetharaman. 
 
However, this is only at an ideal startup. At several others, founders allow only a tenth of promised stock to be sold at the end of a year, with vesting periods rising incrementally to 40% at the end of four years. "There can be additional harsh lock-ins, which make the packages unfair," said the Delhi-based founder of an executive search firm who works with companies such as Flipkart, Zomato and Snapdeal. 
 
Senior employees are realising that they too have a chance of making big returns from India's unprecedented startup boom where the top Internet companies have between themselves soaked up some $6 bn of funding so far. 
 
(Image: Indiatimes)

Top executives are leaving startups like Flipkart and Ola. Are they hungry to start their own ventures?

The eCommerce biggie <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, which is in full swing to surprise us more often, has now up with another acquisition. As per an Economic Times report, Flipkart has now hired two top technology experts - Yahoo VP for analytics <keyword id="2459636" type="UNKNOWN" weightage="20" keywordseo="Eric-Lange">Eric Lange</keyword> and <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>'s <keyword id="2950432" type="UNKNOWN" weightage="20" keywordseo="Dan-Rawson">Dan Rawson</keyword> from its fulfillment business. 
 Officials, on condition of anonymity, confirmed that both Lange and Dan could move to Bengaluru and would report to Flipkart's chief product officer <keyword id="278552" type="PERSON" weightage="20" keywordseo="Punit-Soni">Punit Soni</keyword>. The official also said, "Soni is building his team A, there will be more talent coming from the Valley." 
 
Top eCommerce firms including Flipkart, Paytm, Amazon and Snapdeal are in a tug of war to obtain not just the market share but skilled experts from the industry as well. Morgan and Stanley, however, have confirmed growth of the Indian Internet market. The report has said that Indian Internet market is expected to grow to $137 billion by 2020, from $11 billion in 2013. 
 Punit Soni, one of Flipkart’s most expensive and striving hires so far, belongs to <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword>’s choicest of technologists. Soni, as chief product officer in Flipkart is undertaking the innovation for Flipkart’s consumer products, marketplace and transaction platform. 
 The new hires are expected to bring changes among old cadre at Flipkart as the firm’s Chief Technology Officer <keyword id="1937803" type="UNKNOWN" weightage="20" keywordseo="Amod-Malviya">Amod Malviya</keyword> has moved to an advisory role while <keyword id="6518849" type="PERSON" weightage="20" keywordseo="Sameer-Nigam">Sameer Nigam</keyword>, who headed engineering for the company has quit. 
 
In an e-mail to employees, Mukesh Bansal said that Amod Malviya, Chief Technology Officer at Flipkart and Sameer Nigam, Senior vice-president of Engineering are leaving the company. 
 
<a href="http://www.businessinsider.in/Amazon-doesnt-understand-mobile-which-is-why-it-will-lose-in-India-says-former-Google-executive-who-now-works-at-Flipkart-Amazons-biggest-rival-in-India/articleshow/46529685.cms">Image Source</a>

Flipkart fetching tech talent from Silicon Valley

<ul><li>Indian <keyword id="2526464" type="PERSON" weightage="20" keywordseo="B2B-e-commerce">B2B e-commerce</keyword> platform <keyword id="6357316" type="UNKNOWN" weightage="20" keywordseo="Udaan">udaan</keyword> has raised $280 million in additional financing.</li><li>The startup’s valuation has soared to $3.1 billion, from its last reported valuation of $2.8 billion in 2019.</li><li>udaan claims to have over 3 million users across 900 cities and 25,000 sellers across the country.</li></ul>Indian B2B e-commerce platform udaan has raised $280 million. The additional financing was led by the startup’s existing investors Lightspeed, DST Global, GGV Capital, Altimeter, and Tencent, while two new investors Octahedron Capital and Moonstone Capital too participated. The latest round takes udaan’s overall funds raised to $1.15 billion. According to <a href="https://techcrunch.com/2021/01/06/indian-b2b-e-commerce-startup-udaan-raises-280-million/">reports</a>, the startup’s valuation has soared to $3.1 billion, from its last reported valuation of $2.8 billion in 2019. udaan works as a marketplace for products across lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, toys and general merchandise. Its clients are manufacturers and business owners like shopkeepers. The startup’s co-founder Amod Malviya said that COVID-19 accelerated the already fast digital-led evolution of India’s trade and retail industry, which has led to udaan’s growth. “udaan is at the forefront of this uniquely Indian <keyword id="436047" type="COMPANY" weightage="20" keywordseo="Ecommerce">eCommerce</keyword> opportunity, emerging in the last 4 years as one of the largest eCommerce platforms in India, while taking an India-first mobile-first approach to e-commerce. This financing enables us to further our journey of taking eCommerce to the depth and breadth of the country, with udaan’s unique low-cost model for core middle India,” said Malviya. udaan claims to have over 3 million users across 900 cities and 25,000 sellers across the country. With the latest funding, the startup aims to expand its product categories, enhancing its technology platform and supply chain infrastructure, among other things. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a>

Indian B2B e-commerce startup udaan raises $280 million, valuation jumps to over $3 billion

<ul><li>According to the IIFL Wealth Hurun India Rich List 2020, here are the billionaire entrepreneurs of India.</li><li><keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword> lead the list of <keyword id="3145860" type="PERSON" weightage="20" keywordseo="richest-entrepreneurs">richest entrepreneurs</keyword> in India with a massive increase in their wealth over the last year. </li><li>The Kamath brothers too secured their place on the list. </li><li><keyword id="10020513" type="UNKNOWN" weightage="20" keywordseo="udaan-co-founders">Udaan co-founders</keyword> saw their wealth grow 274% in the last one year.</li></ul>India is the third-largest startup ecosystem in the world and is also home to some of the most valuable startups in the world. So naturally, this also meant that the young Indian startup founders have seen their wealth rise over the years and have found their place amidst India’s richest. According to the IIFL Wealth Hurun India Rich List 2020, here are the billionaire entrepreneurs of India <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Entrepreneur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wealth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vijay Shekhar Sharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Byju Raveendran &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Byju’s </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,400 crore ` </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">52 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nithin Kamath &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹16,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanjeev Bikhchandani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Info Edge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,200 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">74 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divyank Turakhia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Media.net </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">78 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amod Malviya </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Udaan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,100 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">88 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sujeet Kumar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Udaan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,100 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">88 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vaibhav Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Udaan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,100 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">88 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radha Vembu </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zoho </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">99 </td></tr></tbody></table> Paytm founder Vijay Shekhar Sharma’s wealth has grown massively over the last five years, rising from 171st rank in 2016 to the 44th rank this year. In the last one year, his net wealth has grown by ₹2,600 crore. A big gainer has been <keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword> Raveendran, co-founder, and CEO of BYJU’S – the world’s most valued edtech startup. Byju and his family saw their wealth grow by 115% – from ₹7,700 crore last year to ₹20,400 crore in this year’s list. This wealth increase comes at a time when BYJU’s doubled its revenue in FY20 to ₹2800 crore and has been growing massively with the shift to online learning. Meanwhile, Nikhil Kamath and family have also seen a 156% increase in their wealth. “With a wealth of ₹16,900 crore, <keyword id="1430802" type="COMPANY" weightage="20" keywordseo="Nithin-Kamath">Nithin Kamath</keyword>, 40, stormed into Top 100 in IIFL Wealth Hurun India Rich List 2020 and Nikhil Kamath, 34, registered a wealth of ₹7,100 crore,” said the report. Their stockbroking platform accounts for 15% of the retail trade in the country, and Zerodha also recently turned into a unicorn, according to their own estimates. It is worthy to note that Zerodha hasn’t raised any external funding to date. The surprise entrants in the list are Udaan co-founders Amod, Sujeet, and Vaibhav. Udaan has seen its business grow through the lockdown and is one of the most valued Indian startups with a <a href="https://entrackr.com/2020/02/udaan-valued-at-7-5-bn/">valuation </a>of $7.5 billion. SEE ALSO: <a href="https://www.businessinsider.in/india/news/list-of-top-ten-richest-people-in-india-according-to-hurun-rich-list-2020/slidelist/78380656.cms">These are the top ten billionaires in India, according to Hurun Rich List 2020</a>

From Byju Raveendran, Vijay Shekhar Sharma to Nithin Kamath and Udaan co-founders – Here are the richest entrepreneurs of India

<ul><li><keyword id="263867" type="PERSON" weightage="20" keywordseo="Pravin-Jadhav">Pravin Jadhav</keyword>, the former managing director and chief executive officer of Paytm Money, has launched his own financial services platform – <keyword id="10825312" type="UNKNOWN" weightage="20" keywordseo="raise-financial-services">Raise Financial Services</keyword>.</li><li>Raise will offer financial services across financing, insurance, investments, payments and wealth.</li><li>The startup’s seed funding round is led by <keyword id="110875" type="COMPANY" weightage="20" keywordseo="Mirae-Asset">Mirae Asset</keyword> Venture Investments, which is an India-focussed fund launched by South Korean firm Mirae in January 2021.</li></ul>Pravin Jadhav, the former managing director and chief executive officer of Paytm Money, has launched his own financial services platform – Raise Financial Services. Jadhav, who had <a href="https://www.newindianexpress.com/business/2020/apr/02/paytm-money-founder-md-pravin-jadhav-quits-due-to-growing-differences-with-company-board-2124585.html#:~:text=BENGALURU%3A%20Founder%20MD%20and%20CEO,the%20company%20board%2C%20sources%20said.">reportedly</a> quit Paytm due to growing differences with the founder Vijay Shekhar Sharma, has found his way back into financial services. “This time I am not starting from scratch, I am starting from my experiences. I have done it before, and I aim to do it again – raise the bar! This time even higher with Raise Financial Services,” he wrote in a <a href="http://www.beingpractical.com/2021/02/24/raising-the-bar-with-raise-financial-services/">blog</a>. Jadhav wrote that Raise will offer ‘technology-led consumer products &amp; infrastructure services to serve Indians with financial services (across financing, insurance, investments, payments and wealth).’ The startup has raised investments from Mirae Asset Venture Investments, which is an India-focussed fund launched by South Korean firm Mirae in January 2021. Raise is their first investment through the fund. It has also raised investments from Multi-Act Private Equity, Blume Ventures and US based early-stage investor Social Leverage, among multiple other startup founders. Here are some of the founders and startup leaders who have pooled in to invest in Raise, and interestingly many operate in the financial services space themselves <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kunal Shah </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cred, Freecharge </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kalyan Krishnamurthy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amod Malviya &amp; Sujeet Kumar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Udaan </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sameer Nigam &amp; Rahul Chari </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PhonePe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Amrish Rau </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pine Labs, Citrus Pay </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sandeep Tandon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Freecharge </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anupam Mittal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shaadi.com </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jitendra Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jupiter, Citrus Pay </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Girish Mathrubootham </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Freshworks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nischal Shetty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">WazirX </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kuldeep Dhankar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Clevertap, Microsoft, Nokia </td></tr></tbody></table> The Mumbai-based startup is now hiring aggressively across leadership roles. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/a-candid-kavin-mittal-admits-his-mistakes-as-he-reinvents-hike-and-plans-fresh-fundraising-this-year/articleshow/81204449.cms">A candid Kavin Mittal admits his mistakes as he reinvents Hike and plans fresh fundraising this year</a> <a href="https://www.businessinsider.in/tech/apps/news/carbonwatch-indias-first-mobile-app-to-calculate-your-carbon-footprint-falls-short-of-what-it-is-promising/articleshow/81203364.cms">CarbonWatch — India’s first mobile app to calculate your carbon footprint falls short of its promises</a>

Former Paytm Money CEO launches his own financial services platform with an investment from Mirae, and several other major startup founders

<ul><li><keyword id="6357316" type="UNKNOWN" weightage="20" keywordseo="Udaan">udaan</keyword> has raised $585 million from investors like Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. </li><li> udaan’s valuation soars to $2.8 billion with a total <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword> of $870 million.</li><li>The <keyword id="2526464" type="PERSON" weightage="20" keywordseo="B2B-e-commerce">B2B e-commerce</keyword> startup is one of the fastest Indian <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> to reach unicorn status (have a valuation of $1 billion).</li></ul>Indian B2B e-commerce platform udaan has raised a whopping $585 million from Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. The startup’s existing investors Lightspeed Venture Partners and DST Global too participated in the series D round. With the latest funding, udaan’s valuation soars to $2.8 billion with a total funding of $870 million. In September 2018, udaan became one of the fastest Indian startups to reach unicorn status with a valuation of $1 billion. According to <a href="https://techcrunch.com/2019/10/02/udaan-series-d/">reports</a>, this is the biggest single funding round raised by a B2B platform in India. Udaan works as a marketplace for products across lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, toys and general merchandise. Its clients are manufacturers and business owners like shopkeepers. It has a network of 3 million retailers in 900 cities, who are connected to 20,000 sellers across the country. With the latest funding, udaan will invest in further building its platform. “We are building udaan as a trusted partner for small businesses across the country, to empower these entrepreneurs with technology, financial inclusivity, and supply chain capabilities to compete and win in an increasingly tech and digital world,” said a statement by its co-founders Amod-Malviya, Vaibhav Gupta and Sujeet Kumar.

Udaan raises a whopping $585 million to hit a valuation of $2.8 billion

<keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> is looking to revamp its tech team. The older ones are leaving as a result. This includes Chief Technology Officer Amod Malviya who has shifted to an advisory role, and Sameer Nigam who headed the engineering team who has quit altogether. 
 
"The advisory board has been created to help manage the direct fast paced growth at Flipkart with deep domain expertise in different areas," Mukesh Bansal said in an email to his employees. 
 
Nigam was the founder of Mime360 and joined Flipkart in 2011 after the company acquired his company. Until recently, he reported to Malviya at Flipkart. 
 
(Image credit: Indiatimes)

Flipkart CTO and engineering head quit

Microsoft CEO Satya <keyword id="2045946" type="PERSON" weightage="20" keywordseo="Nadella">Nadella</keyword> is on a three-day visit to India to share his vision of the <keyword id="2059551" type="PERSON" weightage="20" keywordseo="future-of-technology">future of technology</keyword>. Indian CEOs are Nadella’s primary audience and he has fireside chats lined up to deliberate on how technology will shape the world in the years to come. Nadella could also meet PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, and interestingly, his visit coincides with that of Trump, who <a href="https://www.businessinsider.in/india/news/day-one-of-donald-trumps-india-visit-these-are-all-the-highlights/articleshow/74277019.cms">arrived in India</a> just a few hours ago. During the opening keynote at the Future Decoded CEO Summit, 2020, Nadella listed out how Indian companies are using Microsoft products to streamline their businesses. Here’s a quick snapshot of what he said: Piramal Glass implements RTMI 
 <div type="image" title="Parimal Glass" msid="74282946" hostid="261"></div>



 Piramal Glass, one of the leading manufacturers of glass packaging for pharmaceuticals, cosmetics and the beverage industry started implementing Real Time Manufacturing Insights (RTMI). The company has used IoT sensors in its production line to get a feedback loop for quality control. IoT sensors are connected to the cloud; and alerts are sent via SMS, email, and push notifications when an anomaly is detected, or the production efficiency drops. Reliance Industries uses Microsoft products across industries 
 <div type="image" title="Reliance Industries" msid="74282940" hostid="261"></div>



 Reliance Industries is using Microsoft’s products to develop its platforms from diverse industries like network to retail. The company is using Azure Cloud in their own data centres for developing stack, LinkedIn for improving learning, hiring practices and more. Apollo Hospitals is using AI and ML develop a localised cardiac risk score 
 <div type="image" title="Apollo Hospitals" msid="74282933" hostid="261"></div>



 Apollo Hospitals has teamed up with Microsoft to use machine learning for developing artificial intelligence powered cardiovascular disease risk score. This has helped Apollo Hospitals develop a non-biased cardiac risk score for Indian population. Apollo Hospital’s senior consultant for interventional cardiology, Dr Shiv Kumar has said that this score is twice as accurate as the existing models. State Bank of India builds a frontline sales app 
 <div type="image" title="SBI" msid="74282932" hostid="261"></div>



 After two employees of SBI’s Trivandrum branch took the initiative to build a Power app to help their frontline salespeople, State Bank of India has rolled out this application to more than 200 branches. Myntra uses Azure for supply chain management 
 <div type="image" title="Myntra" msid="74282930" hostid="261"></div>



 Fashion and lifestyle portal Myntra has migrated to Azure for all its functions – from supply chain management to site capabilities. By centralizing its data platform, Myntra is applying advanced analytics and machine learning to understand customer preferences and provide personalized products and marketing. Myntra is also using Microsoft Power BI to allow its employees to act on real time feedback to provide a better customer experience. InMobi uses Azure to get a 360-degree view of customers 
 <div type="image" title="InMobi" msid="74282922" hostid="261"></div>



 Bengaluru based enterprise platform provider InMobi partnered with Microsoft to use Azure as the company’s preferred cloud provider. The company via its InMobi Marketing Cloud enables marketers get a 360-degree view of customers. The insights will help design customer journey; analyses and acts on customer feedback across channels. Udaan uses Azure for a lean engineering setup 
 <div type="image" title="Udaan" msid="74282915" hostid="261"></div>



 Udaan, which is one of India’s largest online B2B marketplace, has been running on the Azure platform since the beginning. The company’s co-founder, Amod Malviya, credits Azure for allowing the company to have an extremely lean engineering setup. Project HAMS uses camera sensors to ensure driver safety 
 <div type="image" title="Project HAMS" msid="74282905" hostid="261"></div>



 Indian cab aggregator is currently looking to implement Microsoft’s Project HAMS (Harnessing AutoMobiles for Safety). Project HAMS uses a smartphone’s rear camera, selfie camera and accelerometer to ensure that the driver is driving safely. The company may also use this to decide whether to lease a car to someone or not. Eros Now uses AI to learn how its users interact 
 <div type="image" title="Eros Now" msid="74282900" hostid="261"></div>



 Eros Now has built its media production facility on Azure. The company is also using AI to change how users interact and improve voice search for video content. Eros has also created an engine to offer personalized recommendations to users. Narayana Health uses Power BI to optimize its costs 
 <div type="image" title="Narayna Health" msid="74282884" hostid="261"></div>



 The Narayana Health group is using analytics tools like Power BI dashboards to get real-time financial information from its hospitals. It also uses these tools to monitor and analyse nurse hours, daily. Power BI tools have also helped in optimizing costs for reducing turn-around time for labs, monitoring costs of consumables, predicting blood requirement and overall reduction in costs to patients. Royal Enfield uses Dynamics 365 to maintain service histories and job cards 
 <div type="image" title="Royal Enfield" msid="74282876" hostid="261"></div>



 Royal Enfield has used Microsoft Dynamics 365 to implement a Dealer Management System that allows the salesmen to maintain a customer’s profile. A similar system is used at service centres to view service histories and create new job cards for vehicles. Eureka Forbes uses Dynamics 365 for marketing 
 <div type="image" title="Eureka Forbes" msid="74282870" hostid="261"></div>



 Water purifier Eureka Forbes implemented Dynamics 365 in the back end to provide digital leads and customer insights to salespeople. The company uses a cloud-based SaaS model for front-end apps that allow the salespeople to access the water quality of a particular area and select the right product to sell. Novartis India, Sterlite Power and Genpact have been using LinkedIn to improve learning, recruiting and marketing practices in the companies. Mindtree and Mahindra Group are using Microsoft Teams for communication and collaboration within the organisations. See also: <a href="https://www.businessinsider.in/business/corporates/news/microsoft-top-boss-satya-nadellas-conversation-with-mukesh-ambani-asias-richest-man/articleshow/74278962.cms">Microsoft top boss Satya Nadella's conversation with Mukesh Ambani, Asia's richest man</a> <a href="https://www.businessinsider.in/tech/enterprise/news/as-microsoft-makes-one-its-fastest-growing-cloud-software-businesses-available-for-government-it-will-ramp-up-pressure-on-rivals-like-salesforce-analysts-say/articleshow/74259902.cms">As Microsoft makes one its fastest-growing cloud software businesses available for government, it will ramp up pressure on rivals like Salesforce, analysts say</a>

From Royal Enfield to Reliance Industries – Nadella lists out how Indian companies are using Microsoft products

Indian e-commerce giant <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> has decided to revamp its tech leadership team once again, and has hired Micromax CTO and former Amazon exececutive <keyword id="70775" type="PERSON" weightage="100" keywordseo="Ashish-Agrawal">Ashish Agrawal</keyword> as its senior SVP of engineering. 
 Agrawal will be assuming his role from this month, as the engineering head of its consumer shopping experience and would be reporting to Flipkart CEO <keyword id="6364080" type="PERSON" weightage="100" keywordseo="Binny-Bansal">Binny Bansal</keyword>. 
 
Agrawal, who was leading Micromax's tech initiatives and formulating its software services, was also the technology &amp; development head for Amazon's payment service Amazon Payments for about five years. He was also actively involved in the development for Amazon Payments solutions, which was focused on monetization of Digital Goods and Media. At Amazon, he also led the development of the m-commerce apps for about 2.5 years, leading the development &amp; launch of its e-Commerce web services. 
 
Other changes to Flipkart's tech leadership team include engineering head Peeyush Ranjan moving on to the role of group CTO and engineering SVP Hari Vasudev moving to the tech function for its critical marketplace and e-kart businesses. 
 
These changes have come after Flipkart witnessed seven of its top executives quitting last year, including chief product officer Punit Soni, commerce platform head Mukesh Bansal, chief business officer Ankit Nagori, CTO Amod Malviya, and Chief People Officer Mekin Maheshwari. 
 
<a href="http://www.teleanalysis.com/wp-content/uploads/2015/02/Ashish-Agrawal-CTO-Micromax.jpg">Image source</a>

You Searched For "Amod Malviya" and got 10 results

How eCommerce will retain the talent it is importing from Silicon Valley?

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Indian B2B e-commerce startup udaan raises $280 million, valuation jumps to over $3 billion

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From Byju Raveendran, Vijay Shekhar Sharma to Nithin Kamath and Udaan co-founders – Here are the richest entrepreneurs of India

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Former Paytm Money CEO launches his own financial services platform with an investment from Mirae, and several other major startup founders

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Udaan raises a whopping $585 million to hit a valuation of $2.8 billion

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