Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Three top level executives resigned from top management level in <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a>, day after the e-commerce giant named new CEO Kalyan Krishnamurthy, who is building his team of top executives primarily consisting of company veterans. 
 
The executives leaving the company are <a href="http://www.businessinsider.in/searchresult.cms?query=Saikiran+Krishnamurthy&amp;sortorder=effectivedate">Saikiran Krishnamurthy</a>, who headed the e-tailer supply chain unit Ekart; senior vice president <keyword id="373799" type="PERSON" weightage="20" keywordseo="Surojit-Chatterjee">Surojit Chatterjee</keyword>, who headed product and chief marketing officer <keyword id="2327848" type="UNKNOWN" weightage="20" keywordseo="Samardeep-Subandh">Samardeep Subandh</keyword>. 
 Reportedly, the three of them had joined <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> in 2015 when Flipkart was aggressively hiring top talent from outside after raising over $2.6 billion in funding between 2014 and 2015. 
 
The reason for the departure of three executives could not be immediately ascertained. 
 The exit of these executives comes after Flipkart announced that Kalyan Krishnamurthy will be the CEO of the main horizontal commerce unit and also oversee <keyword id="2057197" type="UNKNOWN" weightage="20" keywordseo="eKart">Ekart</keyword>. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Binny+Bansal&amp;sortorder=effectivedate">Binny Bansal</a> was elevated to Group CEO and will oversee other businesses, including payments (PhonePe) and fashion (Myntra, Jabong), in addition to finding new growth drivers for the group. 
 
As a part of this reorganisation Nitin Seth, current chief administrative officer at Flipkart, was made the COO for Flipkart with additional responsibility for Ekart and customer experience besides HR, strategy and corporate functions. 
 Seth was directly reporting to Kalyan Krishnamurthy under the new structure. <keyword id="2748488" type="UNKNOWN" weightage="20" keywordseo="Saikiran-Krishnamurthy">Saikiran Krishnamurthy</keyword>, a strategy expert from <keyword id="6372399" type="COMPANY" weightage="20" keywordseo="McKinsey">McKinsey</keyword>, was initially roped in as COO of Flipkart's commerce unit and later went onto lead Ekart. 
 Other two executives - chief product officer <keyword id="278552" type="PERSON" weightage="20" keywordseo="Punit-Soni">Punit Soni</keyword> and chief technology officer <keyword id="4052975" type="UNKNOWN" weightage="20" keywordseo="peeyush-ranjan-">Peeyush Ranjan -</keyword> left the company last year.

Top 3 executives leave Flipkart, restructuring continues

Eyeware retailer <keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> has raised Rs 135 crore in fresh capital in its third round of funding. The company has in its Series C (final rounding of early funding cycle) raised the funds as co-investment from <keyword id="141646" type="COMPANY" weightage="20" keywordseo="TPG-Growth">TPG Growth</keyword> along with Hong Kong-based TR Capital and its existing investor IDF Ventures. 
	 Interestingly, the company has raised a total of Rs 200 crore in three rounds of funding that has happened so far. In February 2013, the company had received an investment of Rs 53 crore from <keyword id="25725" type="PERSON" weightage="20" keywordseo="Ronnie-Screwvala">Ronnie Screwvala</keyword>’s Unilazer Ventures along with IDG Ventures India. 
	 
	“In TPG, we found strategic partners and advisors with proven capability to build a large consumer-centric enterprise. The TPG brand is another feather in our cap. With this new investment, we will be hiring the best talent and give them a world-class environment to innovate and solve India’s eyewear problems at a very large scale,” said Peyush Bansal, CEO &amp; Founder of Lenskart. 
	 
	Commenting on the same, Manas Tandon, Director, TPG Growth said, “TPG globally is an active investor in the Internet sector. We are excited about the evolution of Internet in India and are delighted to partner with Lenskart as our first investment in this space. The Lenskart team brings to the table an impressive focus on customer service and keen commercial instincts, thereby building a dominant position in the eyewear space, while maintaining attractive unit economics.” 
	 Currently, the company clocked in revenues of nearly Rs 100 crore and has been growing at 15% every month. Lenskart was founded in 2010 by <keyword id="2674246" type="UNKNOWN" weightage="20" keywordseo="Peeyush-Bansal">Peeyush Bansal</keyword> along with Amit Chaudhary and Sumeet Kapahi. The company claims to have grown by over 200% year on year.

Lenskart
Raises Rs 135 Crore As Fresh Capital

<ul><li>SpotDraft recently raised $1.5 million in a pre-series A from Binny Bansal’s 021 Capital, Freshworks CEO Girish Mathrubootham, among others. </li><li>The legal tech startup offers contract creation, management and analysis. </li><li>Indian unicorn entrepreneurs are turning into investors with a purpose – to help startups scale. </li></ul>A small Indian legal tech startup has been able to do what many early-stage entrepreneurs only dream of. SpotDraft has recently raised $1.5 million in a pre-series A round from Binny Bansal’s 021 Capital and several marquee investors like Girish Mathrubootham (Freshworks), Peeyush Ranjan (VP Engineering, Google Inc – former CTO Flipkart) and Indus Khaitan (Chief of Growth, Chargebee) among others. SpotDraft, which started off as an online platform to help people create contracts and automate their invoices, has evolved to offer contract creation, contract management and contract analysis. For example, it claims it helps businesses create a solid legally-binding contract, which they can negotiate and explore online. Its Machine Learning and Artificial Intelligence-enabled services allow them to share with entrepreneurs the good, bad and ugly aspects about the contract. It can quickly help identify compliant and non-compliant clauses of a contract. Shashank Bijapur, CEO and co-founder, SpotDraft spoke to Business Insider to spill the secrets on how they convinced the marquee investors to place their bets on a startup which is just about two years old. According to Bijapur, what worked for them was the value proposition of the business. “At a high level, the problem statement and solution were very clear. Legal as a problem is ripe for disruption making way for complete automation of legal processes that a business has to undergo,” he said. Legal paperwork is one of the many hurdles that businesses and entrepreneurs face, especially in a market like India where these tend to be time-consuming. Compliance is also increasingly becoming an important exercise, as regulations become more complex. It also helped that Bijapur, a Harvard law grad and Wall Street lawyer and his co-founder Madhav Bhagat, a Carnegie Mellon graduate and Google, New York employee, had their background to vouch for them as well. With the funds raised from this round, it is looking to focus on growth in terms of team, sales and development. In the near future, it plans to expand geographies to Europe, US and Middle East, while also looking to grow revenue 10X over the next 12-14 months. The investment is also the latest example of Indian unicorn founders turning into evangelists for startups in the country, through mentoring and investments. Many aren’t just looking at being moneybags but also contribute to the success of other startups. “As founders, the access to capital may not have been as difficult as finding the right people for your business – people who can take us from 0 to 1. The value that these investors brought on board is immense and even before we were given the term sheet, we were introduced to half a dozen clients,” said Bijapur. Currently, the startup has over a dozen multi-national corporations as well as 1,000 SMEs as customers. Among its customers include Wipro, Goodtimes and The Circle, according to the company’s web site. See Also: <a href="https://www.businessinsider.in/indias-two-startup-icons-switch-to-the-other-side-as-venture-capitalists/articleshow/67420444.cms">India’s two startup icons switch to the other side — as venture capitalists</a> <a href="https://www.businessinsider.in/angel-tax-startup-definition-changed-exemption-up-to-25-crore/articleshow/68063050.cms">Indian government finally comes to a decision on Angel Tax, changes definition of startups</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a>

Why India’s Unicorn founders backed this barely two-year-old legal tech startup

Technology is emerging as the biggest battlefront for Indian eCommerce and software firms. With leading companies as Infosys and <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> hiring engineers groomed in toptier US companies to acquire the domain edge they need to dominate rivals, the need for efficient employee seems to have peaked up. No wonder they are poaching talent from the competition—even from <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword>. A news report by the Economic Times has confirmed thatBengaluru-based eCommerce giant Flipkart is hiring another top engineer from Google, highlighting a trend among the country's fast-growing companies to tap into <keyword id="6357722" type="COMPANY" weightage="60" keywordseo="silicon-valley">Silicon Valley</keyword> for talent to bolster their technology fronts. 
 Sources have informed the financial daily that Peeyush Ranjan, a senior engineering director at Google, will join Flipkart's commerce division led by <keyword id="705865" type="PERSON" weightage="80" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword> in a key role. 
 This is nothing new, since the company had hired another Google <keyword id="2796851" type="UNKNOWN" weightage="60" keywordseo="engineering-leader">engineering leader</keyword>, <keyword id="278552" type="PERSON" weightage="60" keywordseo="Punit-Soni">Punit Soni</keyword> as a <keyword id="2796852" type="UNKNOWN" weightage="80" keywordseo="chief-product-officer-in-the-same-division">chief product officer in the same division</keyword> last month. Soni will join Flipkart this month and Ranjan likely in May. As per the news report, Mukesh along with Flipkart co-founder <keyword id="225032" type="PERSON" weightage="80" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> had met around three-dozen potential hires in the Valley last month. 
 
(Image: India Times)

Flipkart goes shopping in Google!

Newly appointed Chief Product Officer of <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="278552" type="PERSON" weightage="60" keywordseo="Punit-Soni">Punit Soni</keyword>, is on a mission. He wants India’s largest e-Commerce player to become global tech powerhouse and also a company to have the best talent from across the globe in coming years. 
 
Soni, who launched various products for Google during his eight-year stint and helped Motorola Mobility turnaround, is back in India after spending his entire professional career in the US and is on the job. 
 
While talking to Times of India, Soni said he is coming to the future with a focus on enhancing Flipkart’s mobile Commerce experience, adding consumers should expect changes on mobile front soon. 
 For this, he is scanning the world for talent. 
 
"We are focusing on getting amazing talent which is global in nature. Now we are at an inflection point and the world is looking at India as the big opportunity. Just like younger start-ups look up to Flipkart as a role model, now I want Flipkart to do the next thing — bring large number of people from across the globe to work here and live happily, both professionally and personally. This should then seep into the rest of the ecosystem. I think it will happen, it's just about us evolving ourselves into a more thoughtful international employer than an Indian employer," Soni told TOI. 
 
Soni along with another Google veteran Peeyush Ranjan would tap into talent from Silicon Valley’s tech giants like Google. 
 
Flipkart is now focussing on mobile, as outlined by co-owner Sachin Bansal, and seeks to downsize its legacy as a desktop-driven player. 
 
"The conversation is what truly a true mobile commerce experience is— no one has really cracked it yet," Soni said. "Today any mobile app is basically a website condensed into a small little phone with some ability to tap and swipe. Now compare that to the idea of shopping. I'm trying to build what is a true mobile commerce experience. If I can build that up in any geography, it is here in India," he told the news daily. 
 
The e-Commerce company also sees mobile start-ups as a huge challenge. 
 
“We are watchful of these younger start-ups. It is a challenge. I understand that disruption most likely comes from a smaller start-up. Their ability to do things is phenomenal and that is what makes them the prime disruptor of large companies,” Soni added. 
 
Flipkart and fashion online retailer Myntra, which it acquired last year, have been pushing their mobile applications as smartphone penetration in India skyrockets. TOI reported that Myntra planned to its website with Flipkart following the same as the online retailers morph into pure-play mobile outfits.

You Searched For "Peeyush Bansal" and got 5 results

Top 3 executives leave Flipkart, restructuring continues

BI India Bureau

Lenskart Raises Rs 135 Crore As Fresh Capital

Purba Das

Why India’s Unicorn founders backed this barely two-year-old legal tech startup

Sanchita Dash

Flipkart goes shopping in Google!

BI India Bureau

Techies, this is your chance. Flipkart is looking for talent across the globe

BI India Bureau

Popular Keywords

Buying Guides