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<a href="http://www.businessinsider.in/searchresult.cms?query=Punit+Soni&amp;sortorder=effectivedate">Punit Soni</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a>’s Chief Product Officer has quit, in about a year of joining. <a href="http://www.businessinsider.in/searchresult.cms?query=Punit+Soni&amp;sortorder=effectivedate">Soni</a> was responsible for significantly enhancing the product design capability and hiring a robust tech team. 
 
Before <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Punit+Soni&amp;sortorder=effectivedate">Soni</a> was a Google executive with expertise in mobile technology. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> and ex-CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Sachin+Bansal&amp;sortorder=effectivedate">Sachin Bansal</a> had been denying Soni's move for over three months. However, now the company has confirmed Soni’s departure. 
 
At Google, <a href="http://www.businessinsider.in/searchresult.cms?query=Punit+Soni&amp;sortorder=effectivedate">Soni</a> was responsible for managing and launching products such as mobile apps for the search giant and Moto G for Motorola Mobility. 
 Soni’s exit comes after <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword>'s commerce platform head <a href="http://www.businessinsider.in/searchresult.cms?query=Mukesh+Bansal&amp;sortorder=effectivedate">Mukesh Bansal</a> and Chief Business Officer <keyword id="2350508" type="COMPANY" weightage="100" keywordseo="Ankit-Nagori">Ankit Nagori</keyword> quit the company earlier this year. 
 
<a href="http://static4.businessinsider.com/image/550011f76bb3f7eb60215c96-960/punit-soni.jpg">Image source</a>

Another blow to Flipkart: Chief Product Officer Punit Soni bids adieu

An engineering graduate from NIT-Kurukshetra, masters in Electrical Engineering from University of Wyoming and MBA from Wharton, he was working with <a href="http://www.businessinsider.in/searchresult.cms?query=Google&amp;sortorder=effectivedate">Google</a> before <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> roped him in as the Product Head. He is widely believed to bring more focus on the <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> app. 
 
A year on, he’s stepped down from his role in <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a>, and is looking to start something of his own in the Valley, but it'll have some Indian connection, he promises. 
 
Business Insider sat down with this 38-year-old Valley veteran (wow, that rhymes) for a candid chat. 
 
Not every Indian kid gets to be at Wharton and Google. How did it happen for you? 
If you look at my career, it’s a classic <a href="http://www.businessinsider.in/searchresult.cms?query=Silicon+Valley&amp;sortorder=effectivedate">Silicon Valley</a> template. Undergrad here, grad school there, worked in a bunch of companies, a startup along the way, and so on. Many Indians are successful in the Valley and across the world with the same template. 
 
Much of my success is attributed to luck and chance. Everything doesn’t happen because you’re smart and accomplished. You take leaps of faith, and luck happens. You have to put yourself in that place to get lucky. A lot of people don’t try. 
 
I had a cushy job at Cadence. I earned well, and didn’t have to work too hard. I threw it all away, and decided to go to business school. Took a quarter million in loan and went to Wharton. 
 
I was lucky to get into Wharton. I was rejected for three years, but the act of trying to get in probably helped me grow more than what I learnt in business school itself. 
 
Google was also luck. I didn’t know what to do at that point, and knew somebody who was working there. Somehow got an interview, and got in. 
 
My job was to build apps, and I had to go to Canada to do that. Very few wanted to move there from Mountain View, and I put my hand up. I got the job and it turned out to be an important one for Google. 
 
What’s your take on the Indian media and how they’ve treated the Indian startup ecosystem vis-à-vis what you’ve seen in the Valley? 
To be honest, I think the Indian media is a bit of a circus. 
 
There are some good people, but way too much is written without any substantiation. Whenever you see an article in a leading daily with ‘unnamed sources’, you have to question how they put these things together. Nobody even has the courtesy to call and ask. 
 
Tabloid journalism happens in the US and UK too. But I expect mainstream media to be more ethical about what they write. 
 
Secondly, I think the Indian startup scene gets a lot of scrutiny, and rightfully so. India and Indians have realized this is going to be very incidental to their future. However, they should focus more on strategy than personality. 
 
Does this hero worship not happen in the Bay Area? 
This kind of conversation does not happen as much in the <a href="http://www.businessinsider.in/searchresult.cms?query=Bay+Area&amp;sortorder=effectivedate">Bay Area</a>. There are gossip columns however. 
 
I remember waking up one day after partying really hard, and went to a Burrito place, and <a href="http://www.businessinsider.in/searchresult.cms?query=Larry+Page&amp;sortorder=effectivedate">Larry Page</a>(Co-founder, Google) was behind me, having some Burritos. Nobody came up to him. They let him be. 
 
In general, the cult of personality is little less there. It maybe because there are too many that are successful, or because the media is more mature there. 
 
How long can it take for Bangalore to become like the Bay Area? 
It takes way less time to put together a company there. 
 
Bay Area is like a cookie cutter machine for startups. There are lawyers, startup consultants and office managers who know exactly what to do. There are places where you can start your office for free. 
 
If we decided to start something today, we’ll have a company, company name, incorporated, office, staff, healthcare and more in less than a week. 
 
In India, it’s a little bit harder. However, it’s become easier, and the government can always work to make it much easier. 
 
Your take on the Indian startup ecosystem 
India has the largest volume of young entrepreneurial people in the world today. The energy here far outstrips that of the Bay Area. However, this ecosystem can do with more role models and mentors. 
 
In the Bay Area, we always had somebody to handhold and teach us. Many people here who have that intense energy don’t have enough mentors who can help them transform that into great companies. 
 
It’s important to have an ecosystem of support and mentorship in the country. That’s what Valley already has. That’s why more billion dollars come out of there than here. 
 
I think in the next decade you’re going to see a Google-like company come out of India, and it’s dumb to not be a part of this. 
 
That’s why I do my office hours, play advisor to a few companies, and might invest a bit also.

Exclusive: Punit Soni’s amazing
career - From NIT Kurukshetra to Wharton, Google and Flipkart

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.

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

<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Flipkart" title_caption="Punit Soni was Motorola's VP of product management when Google owned the phone company" class="zoomin" href="https://static-ssl.businessinsider.com/image/54f723a26da811cb63502142-960/soni-punit.jpg"></a>FlipkartPunit Soni was Motorola's VP of product management when Google owned the phone company</div></div></div>Google product management exec Punit Soni is joining the Indian e-commerce company Flipkart as its chief product officer.Soni worked at Google for the past eight years, helping develop products like Google News, Books, Google Plus - and, as the VP of product management at Motorola while Google owned it, three phones: the MotoX, Moto G, and Moto E. Soni decided to join Flipkart after a trip to India - he felt the startup "stood out as the single biggest platform of change in the new internet economy," he <a href="https://plus.google.com/u/0/+PunitSoni/posts/WodTbmqkAno">said in a Google Plus post</a>. In his new role, he'll be spearheading Flipkart's product strategy, design, and marketing, and moving to India for the position. Flipkart currently has 33,000 employees and 10 million daily visits is one of Amazon's biggest competitors in India. The company's founders actually both worked at Amazon before ditching in 2007 to start their own new company with a very similar business model. The startup took off and Flipkart is now <a href="http://www.wsj.com/articles/indias-flipkart-raises-1-billion-in-fresh-funding-1406641579?mod=LS1">India's largest online marketplace in terms of sales</a>.Amazon, meanwhile, didn't enter India until 2012 when it acquired price-comparison site Junglee. It opened its official India website in June 2014. The next month, Flipkart <a href="http://www.businessinsider.com/former-amazon-executives-flipkart-2014-7" target="_blank">raised a mammoth $1 billion</a> funding round. Exactly one day later, Amazon said it planned to pour <a href="http://www.businessinsider.com/r-amazon-to-invest-2-billion-more-in-india-as-e-commerce-race-heats-up-2014-30">$2 billion into its Indian operations</a>.In Amazon's Q4 earnings call, CFO Tom Szkutak said the company was "very excited about India" and it will be one of its big focuses for international growth. Here's how Soni described his decision to go to Flipkart: Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

A longtime Google veteran decides to join one of Amazon's biggest competitors after a trip to India

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!

<ul><li><keyword id="3441386" type="General" weightage="20" keywordseo="sony-pictures-networks-india-private-limited" source="Orion">Sony Pictures Networks India Private Limited</keyword> (SPNI) and Zee Entertainment Enterprises Ltd have entered a definitive agreement to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries.</li><li><keyword id="599253" type="General" weightage="20" keywordseo="punit-goenka" source="Orion">Punit Goenka</keyword> will lead the combined company as its Managing Director &amp; CEO. </li><li>The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI Managing Director and CEO, NP Singh.</li></ul>Sony Pictures Networks India Private Limited (SPNI) and <keyword id="381258" type="General" weightage="20" keywordseo="zee-entertainment-enterprises-ltd-" source="Orion">Zee Entertainment Enterprises Ltd.</keyword> (ZEEL) today announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries. The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence. After closing, the new combined company will be publicly listed in India. The closing of the transaction is subject to certain customary closing conditions, including regulatory, shareholder, and third-party approvals. Under the terms of the definitive agreements, SPNI will have cash balance of USD $1.5 Bn (assuming an INR:USD exchange rate of 75:1) at closing, including through infusion by the current shareholders of SPNI and the promoters (founders) of ZEEL, to enable the combined company to drive sharper content creation across platforms, strengthen its footprint in the rapidly evolving digital ecosystem, bid for media rights in the fast-growing sports landscape and pursue other growth opportunities. SPNI is an indirect subsidiary of Sony Pictures Entertainment Inc. (SPE). Under the transactions contemplated by a non-compete agreement, SPE, through a subsidiary, will pay a non-compete fee to certain promoters (founders) of ZEEL, which will be used by such promoters (founders) to infuse primary equity capital into SPNI, entitling the promoters (founders) of ZEEL to acquire shares of SPNI, which would eventually equal approximately 2.11% of the shares of the combined company on a post-closing basis. After the closing, SPE will indirectly hold a majority 50.86% of the combined company, the promoters (founders) of ZEEL will hold 3.99%, and the other ZEEL shareholders will hold a 45.15% stake. Punit Goenka will lead the combined company as its Managing Director &amp; CEO. The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI Managing Director and CEO, NP Singh. On closing, Singh will assume a broader executive position at SPE as Chairman, <keyword id="833633" type="General" weightage="20" keywordseo="sony-pictures-india" source="Orion">Sony Pictures India</keyword> (a division of SPE) reporting to Mr. <keyword id="212528" type="General" weightage="20" keywordseo="ravi-ahuja" source="Orion">Ravi Ahuja</keyword>, SPE’s Chairman of Global Television Studios and SPE Corporate Development. The combination of ZEEL and SPNI is expected to achieve business synergies and given their relative strengths in scripted, factual and sports programming, respective distribution footprints across India and iconic entertainment brands, the combined company should be well-positioned to meet the growing consumer demand for premium content across entertainment touchpoints and platforms. The seamless blend of rich expertise in content creation, deep consumer insights and success across entertainment genres is expected to drive the combined company’s ability to accrue higher shareholder value. Under the stewardship of the Sony Group, a global leader in consumer technologies, gaming and entertainment, the combined company is expected to be able to better compete with the world’s largest streaming players. As part of the definitive agreements, the promoters (founders) of ZEEL have agreed to limit the equity that they may own in the combined company to 20% of its outstanding shares. This construct does not provide the promoters (founders) of ZEEL any pre-emptive or other rights to acquire equity of the combined company from the Sony Group, the combined company or any other party. Any shares purchased by the promoters (founders) of ZEEL, must be in compliance with all applicable laws including any pricing guidelines. Commenting on this development, Punit Goenka, MD &amp; CEO, ZEE Entertainment Enterprises Ltd. said, “It is a significant milestone for all of us, as two leading media &amp; entertainment companies join hands to drive the next era of entertainment filled with immense opportunities. The combined company will create a comprehensive entertainment business, enabling us to serve our consumers with wider content choices across platforms. I am immensely grateful to the teams at ZEEL, SPE and SPNI for their efforts, that swiftly led us to this point within the stipulated timelines. This <keyword id="42411" type="General" weightage="20" keywordseo="merger" source="Orion">merger</keyword> presents a significant opportunity to jointly take the businesses to the next level and drive substantial growth in the global arena. I look forward to working with the guidance of the esteemed members of the combined company’s board to unlock the potential of this merger, and I wish <keyword id="1436102" type="General" weightage="20" keywordseo="n-p-singh" source="Orion">N.P. Singh</keyword> all the best in his new role at SPE. His contribution to the Indian media &amp; entertainment industry has been invaluable. I am most certain that our collective wisdom, rich experience and expertise will lead to a more value accretive and exciting company for our shareholders and employees, and a more engaging one for our customers and partners.” “Today marks an important step in our efforts to bring together some of the strongest leadership teams, content creators, and film libraries in the media business to create extraordinary entertainment and value for Indian consumers,” said Ravi Ahuja, SPE’s Chairman of Global Television Studios and SPE Corporate Development. “I want to thank Punit and his team at ZEEL and the small army of people at SPE and SPNI who have worked so hard to get us to this point. I especially want to thank NP Singh, who presented us with the idea to explore this merger well over a year ago. N.P. has done extraordinary work building SPNI to what it is today, and we look forward to continuing our work with him in his new role after closing.” MD &amp; CEO, SPNI, N.P. Singh, added, “This merger will create a company that’s best in class and will redefine the contours of the media and entertainment industry. As a representative of SPE on the Board of the new merged company, it will be my endeavour to provide strategic guidance and support to the company’s operating team in achieving our vision. I am also excited at the opportunity of being appointed, Chairman, Sony Pictures India, to oversee SPE’s investments and craft a wider footprint for Sony in India.” SPE was advised on this transaction by Morgan Stanley, KPMG Corporate Finance, and Shardul Amarchand Mangaldas &amp; Co. ZEEL was advised by KPMG, JP Morgan, Trilegal and Boston Consulting Group.

Sony and Zee Entertainment sign definitive agreements to merge, Punit Goenka to lead combined company as MD & CEO

If everything goes as planned, soon you would have a real-time shopping experience on your smartphone. Yes, Flipkart is planning to develop a mobile application, which will also enable you to shop along with your friend. 
 
Chief Product Officer Punit Soni said Flipkart is focusing on delivering such an experience and for this the company will align its infrastructure and engineering resources. 
 
If Flipkart is able to do it, this will mark a change from its present mobile app and tech infrastructure, which is largely for desktop applications. 
 
"We haven't really figured out what mobile commerce really is. In real life, shopping is a very different experience," Soni told Economic Times in an interview. 
 
In an effort to give razor sharp competition to its rivals, like Amazon, Flipkart will have to be completely overhauled. 
 
"To do that, you have to reinvent your infrastructure so that it is truly mobile-oriented," said Soni. 
 
He is already planning to hire talent from across the globe for this. 
 
"If Flipkart has to be a global company, we should be able to hire the best people across the world," he said, hinting that Flipkart will hire more people from the Bay Area, where the density of such talent is higher. 
 
"Our ability to succeed in the next three to four years will depend on solving these problems," Soni told ET. 
 
One of the challenges for Soni would be to build this experience without hurting the eCommerce’s existing business. 
 
"If you come from a world of desktops, how do you reinvent your infrastructure without destroying what you already have," he said. 
 
(Image:Reuters)

Flipkart’s mobile App to be a game-changer in e-commerce. Know how

<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Flipkart " title_caption="Punit Soni " class="zoomin" href="https://static-ssl.businessinsider.com/image/550011f76bb3f7eb60215c96-960/punit-soni.jpg"></a>Flipkart Punit Soni </div></div></div>After eight years at Google developing products like Google News and launching new phones while an exec at Motorola, <a href="https://plus.google.com/u/0/+PunitSoni/posts/WodTbmqkAno">Punit Soni is moving to India</a> to be the chief product officer at e-commerce company Flipkart. As e-commerce explodes in India, Flipkart is its <a href="http://www.wsj.com/articles/indias-flipkart-raises-1-billion-in-fresh-funding-1406641579?mod=LS1">largest online marketplace in terms of sales</a>. It has 33,000 employees, and 10 million daily visits.But, it has some big competitors too. Local startup Snapdeal is close behind it, and another giant company is trying to move in fast, too: Amazon.Amazon and Flipkart have an <a href="http://www.businessinsider.com/amazon-and-its-biggest-competitor-in-india-got-into-a-funny-twitter-spat-2015-2">interesting history</a>: Flipkart's founders actually both worked at Amazon before leaving in 2007.Amazon opened its official India website in June 2014. The next month, Flipkart <a href="http://www.businessinsider.com/former-amazon-executives-flipkart-2014-7" target="_blank">raised a mammoth $1 billion</a> funding round. Exactly one day later, Amazon said it planned to pour <a href="http://www.businessinsider.com/r-amazon-to-invest-2-billion-more-in-india-as-e-commerce-race-heats-up-2014-30">$2 billion into its Indian operations</a>.So, surely Soni must be worried about the threat of this giant company, known for crushing competitors even if it takes hemorrhaging money to gain marketshare, trying to move fast into India?Nope."You can throw a lot of money at something - and in areas like e-commerce where on-the-ground infrastructure matters, throwing money is absolutely going to help," he says. "But I'd be more nervous if somebody had assembled a team of 100 world-class people who were building five or six new world-class ideas, that when I heard of, I thought, 'Oh my god, I've never thought of that. That's amazing.'"He's not worried about that from Amazon. "That's the kind of work that I think we do," he adds. Soni believes that one of Amazon's biggest disadvantages in India comes straight from its core. Amazon was built in a "desktop era" where people bought stuff online using their computers. In India, <a href="http://articles.economictimes.indiatimes.com/2013-10-25/news/43395431_1_jeff-bezos-india-business-amit-agarwal">70-80% of online transactions could come from mobile</a> by 2017. "The inherent being of the company can't just change - it's very hard for it just to suddenly become mobile-centric," he says. "Of course, I have to understand everything Amazon has done well and then make sure that we are always lapping them. But, more than that, we have to focus on things that Flipkart has that are unique to Flipkart, like understanding what the best mobile experience should be."He also believes that Flipkart has a unique view on ways to make shopping a more social experience and plans on building out new ways for buyers and sellers to communicate in real time (Flipkart only sells products through third-parties)."It's about understanding where the future is going to be," Soni says. Amazon didn't respond to Business Insider's request for comment. "The significance of mobile is much higher in India than anywhere else as most of first time internet users will come on the mobile," <a href="http://timesofindia.indiatimes.com/tech/tech-news/Mobile-commerce-comes-of-age-in-India/articleshow/44898756.cms">Agarwal told India Times last fall</a>. "The mobile will be the first point of contact for customers here."Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Amazon doesn't understand mobile, which is why it will lose in India, says former Google executive who now works at Flipkart, Amazon's biggest rival in India

<ul><li><keyword id="20068359" type="General" weightage="20" keywordseo="zee-entertainment" source="keywords">Zee Entertainment</keyword> has backed out from a $ 1.4 billion licensing agreement with <keyword id="19976118" type="General" weightage="20" keywordseo="disney-star" source="keywords">Disney Star</keyword> for the TV broadcast right for cricket matches.</li><li>This is reportedly a fallout of collapse of its merger deal with <keyword id="19914172" type="General" weightage="20" keywordseo="sony" source="keywords">Sony</keyword>.</li><li>Sony Corporation had on Monday announced the termination of the $ 10 billion merger.</li></ul> Zee Entertainment has backed out from a $ 1.4 billion licensing agreement with Disney Star for the TV broadcast right for cricket matches as a fallout of collapse of its merger deal with Sony, according to industry sources. Zee Entertainment Enterprises Ltd (<keyword id="20115912" type="General" weightage="20" keywordseo="zeel" source="keywords">ZEEL</keyword>), which has already missed the first instalment of around $ 200 million, will not move ahead, industry sources told PTI. The instalment to be paid to Disney Star was part of the $ 1.5 billion investment committed by Sony Group after its merger with ZEEL, said another industry source while confirming the development. Sony Corporation had on Monday announced the termination of the $ 10 billion merger agreement with ZEEL, while seeking $ 90 million for breach of conditions besides initiating arbitration. As per the merger agreement between ZEEL and Sony, the Japanese entity was supposed to invest $ 1.575 billion in the merged entity and have a majority stake. There were no immediate comments from ZEEL over the development. Three days after Sony called off the deal, ZEEL MD &amp; CEO <keyword id="20130441" type="General" weightage="20" keywordseo="punit-goenka" source="keywords">Punit Goenka</keyword> addressed a townhall meeting of around 3,000 employees across the globe, in which he asked them to move forward and chase new opportunities. "Our industry is witnessing rapid changes, and these winds of change are giving us a new shape. We have to mould ourselves to be well-positioned in order to capitalise on the opportunities coming our way. We have been leaders over the last 3 decades and have delivered value to our stakeholders, year on year," he said. On August 30, 2022, ZEEL had announced entering into a strategic licensing agreement with Disney Star for television broadcasting rights of the ICC Men's and Under-19 global events for a period of four years. Disney Star will continue to exclusively stream all ICC tournaments through its digital platform Disney+ Hotstar, a joint statement had said. This was done with the in-principle approval from the International Cricket Council (ICC). Disney Star bagged the broadcast rights of all ICC events for four years from 2024 to 2027 for the Indian market from the sport's global governing body. As per the agreement, ZEEL was supposed to have exclusive television rights for ICC men's events, including the ICC Men's T20 World Cup, which will be played in 2024 and 2026, ICC Men's Champions Trophy (2025), and the ICC Men's Cricket World Cup (2027), along with key ICC U-19 events, it said. ZEEL on Wednesday approached the National Company Law Tribunal (NCLT) to get Sony to honour a $ 10 billion merger deal. Sony had resisted the demand by Subhash Chandra's son Punit Goenka, who was investigated by Sebi over fraud allegations, to stay on after the merger. It has also initiated appropriate legal actions to contest the claims of $ 90 million (Rs 748.5 crore) filed by Sony Group before the Singapore International Arbitration Centre (SIAC). SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-12-vs-oneplus-12r-heres-whats-different-between-the-two-devices/slidelist/107138750.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-12-vs-oneplus-12r-heres-whats-different-between-the-two-devices/slidelist/107138750.cms" target="_blank">OnePlus 12 vs OnePlus 12R – What distinguishes the two new smartphones</a> <a href="https://www.businessinsider.in/business/auto/news/rolls-royce-spectre-rolls-out-as-indias-most-expensive-electric-car/articleshow/107051636.cms">Rolls Royce Spectre rolls out as India’s most expensive electric car</a> <a href="https://www.businessinsider.in/tech/news/global-pc-shipments-decline-for-the-eighth-straight-quarter-hopes-pinned-on-ai-to-drive-sales/articleshow/106981182.cms">Global PC shipments decline for the eighth straight quarter; hopes pinned on AI to drive sales</a>

You Searched For "Punit Soni" and got 9 results

Another blow to Flipkart: Chief Product Officer Punit Soni bids adieu

BI India Bureau

Exclusive: Punit Soni’s amazing career - From NIT Kurukshetra to Wharton, Google and Flipkart

Saikat Pyne

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

BI India Bureau

A longtime Google veteran decides to join one of Amazon's biggest competitors after a trip to India

JILLIAN D'ONFRO

Flipkart goes shopping in Google!

BI India Bureau

Sony and Zee Entertainment sign definitive agreements to merge, Punit Goenka to lead combined company as MD & CEO

BI India Partner

Flipkart’s mobile App to be a game-changer in e-commerce. Know how

Techradar

Amazon doesn't understand mobile, which is why it will lose in India, says former Google executive who now works at Flipkart, Amazon's biggest rival in India

JILLIAN D'ONFRO

Zee Entertainment backs out from $1.4 bn deal with Disney Star

PTI

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