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<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

<ul><li>The <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> judge says gatekeepers of the app ecosystem – Apple and <keyword id="19902762" type="General" weightage="20" keywordseo="google" source="keywords">Google</keyword> – are the new East India Company and they operate with complete arrogance and impunity.</li><li>Just as startup founders are coming under pressure, venture capitalists and auditors too need to be held accountable for their behaviour.</li><li><keyword id="20225195" type="General" weightage="20" keywordseo="shark-tank" source="keywords">Shark Tank</keyword> India has become a catalyst for driving entrepreneurship and giving it legitimacy. </li></ul> <keyword id="127971" type="General" weightage="100" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> is India’s original internet entrepreneur, who is the founder and CEO of People Group. Way before platform economy became a buzzword, Mittal built a platform for Indians seeking life partners. And even today one million Indians find their partners on shaadi.com every year. Call him the OG of startups or a serial entrepreneur, he is a man who does not mince words. In a free wheeling chat with Business Insider’s Malini Bhupta, Mittal talks about unfair trade practices of Google, his investment in Ola’s Bhavish Aggarwal and what he thinks is the biggest achievement of Shark Tank India. Edited Excerpts: With some high profile startups like Paytm and Byju’s coming under lens, what do you think is wrong with the startup ecosystem? I think the Paytm issue is a little different. There are two issues there in my view – one is valuation. The company came out with its IPO at the height of the unicorn boom and as a result, their valuation was corrected when the pvt. market corrected. This is part of the pricing game and one can hardly blame them for it. Eventually, they would have grown into their valuation is what I believe. However, the second issue which is regulatory in nature is far more serious. Whether it is justified or not I don’t know. I think there is a little heavy-handedness here as what you are talking about is a payments bank KYC stuff being the reason to shut them down, which could be seen as over-reach since they are not a significantly important lending institution. Talking about what is wrong with India’s ecosystem and why founders are behaving badly is a common issue that occurs when there are high levels of greed. When there is massive liquidity in the system people think they can take advantage of the situation. In the US you have seen Theranos, crypto frauds and an industry that was created around SPACs. Billions of dollars have been lost on that. What is happening in India is a small reflection of that. Greed manifests in two ways – one is the founders who are ambitious who see the ecosystem celebrating unicorns and that gets weaponised. Over time a few start with minor refractions and very soon they start fabricating revenues and manipulating auditors to keep up with the image that has been created. They are riding tigers they can't get off. The venture capitalists too want to see their investments being marked up as their future fund raises depend on the portfolio's net asset value and so they play along and at times actually drive the founders at a velocity that is unsustainable. I think they need to be held accountable by their LPs. Auditors have a very important role here and are perhaps the ones who need to pay the highest price through government censures. They are market participants who have been entrusted with a certain job for which they get paid hefty fees. When they start looking the other way, the system breaks. You have been waging a pitched battle against the unfair trade practices of Big Tech companies in India. What, in your view, are the steps that need to be taken by the government to prevent such unfair practices by large global players? Fundamentally the experience of the internet is through apps – two companies control the entire app ecosystem Google and Apple. Both operate with complete impunity. Two years ago the CCI passed an order against Google around <keyword id="963171" type="General" weightage="20" keywordseo="google-play" source="Orion">Google Play</keyword> Billing System (GPBS). Now they have changed the name to User Choice Billing. If you look at the order CCI says there will be no discrimination at all. Being on the App Store means nothing unless you advertise on Play Store. Startups spend anywhere between 10-50% of revenue on advertising on these platforms already. Essentially, the app store is worth nothing if you don’t have content. What choice does a company have but to adhere to their unfair practices… Now they say that any transaction that happens on apps downloaded via the store will be subject to 15-30% tax/commissions. What this means is that they want 50% of the revenues of the startups. It is the new East India Company and they operate with complete arrogance and impunity. The problem is in getting these companies to comply. Their strategy is to stretch out the legal process and tire the system. Our government and regulators have the right intent but sometimes democracies are messy. As a government, we have to ensure that nobody becomes the gatekeeper to our economy which is what these companies are trying to do. There should be penal provisions for anybody who abuses the law or twists and turns it while violating the very spirit of it. Non-compliance with judicial orders is contempt of court and so there is an opportunity to send a very strong message. These bullies need one arm chopped off in the form of penalties, a rap on the knuckles will not work as they are too big to care about a couple of hundred million in penalties. What is the biggest achievement of Shark Tank, which has now become a huge hit in India? In life timing is everything. Shark Tank’s first season was in December 2021, which was the peak of the startup hype cycle, and it demystified the whole conversation around startups and funding. Shark Tank has become a catalyst for driving entrepreneurship and giving it legitimacy. India is a land of entrepreneurs with every second person running some small business, many from home. A decade ago, if you told someone you are an entrepreneur, you would be told to come back when you get serious. The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem. A lot of companies have done very well. About 8-10 companies that got funded in Shark Tank are doing very well out of 180 companies that came to the show. This is an early stage game and will play out the same way. When you invest in 100 early stage companies, 4-5 will do very well and help recover the investments and some will become very big. A majority will fail. What I found amazing was that the companies that came to the show were not the elites who came from IIT or IIM. These are small businesses founded by housewives and family members. Entrepreneurship is not the reserve of the few. The next decade will be defined by Indian entrepreneurs globally and so there is no better time to be an entrepreneur than now. Shark Tank has put belief in every Indian that they can do it and that changes the game. Many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM. I believe that these people understand commerce and ‘dhandha’. The elitist founders are used to being served everything on a platter. Many professionals who come out of large companies or consulting firms cannot start without large funding. Out of the 100 unicorns we have, many will spectacularly fail in 2024 as they were built on the wrong foundations. These companies were built on a template of Ivy League founders and old school networks and so they got funded. Of the businesses that come to Shark Tank, what sectors can do well and stand a better chance of being funded? Indians now have the same aspirations as people in other parts of the world. Anybody who comes in and can bridge the gap between aspiration and affordability will do well especially in lifestyle. For example - Companies in the clothing and jewellery space will do well if they can deliver high aspiration at a value pricing. Last year a company called Snitch came with a revenue of Rs 60 crore and is now doing Rs 250 crore in sales. A company called Skippy, which makes ice pops was funded on Shark Tank too and has a run rate of Rs 50 crore from a few lakhs before ST. I funded a company called Sharmaji Ka Atta which has a revenue run rate of Rs 20 lakh a month in less than 12 months from less than 1 lakh. Another one called Whatsapp Wellness just got funded by HUL. Fundamentally, companies that can build premium products but don’t break the bank on affordability in categories like fashion, lifestyle and food will do well. People read labels now and the young generation is focused on what they are eating. Beauty and wellness products will do well as a secular trend for most of our history Lakme meant beauty, that’s how unbranded we were. Do you feel Shaadi.com is still relevant after Tinder and other dating apps came about? Let’s understand why Tinder is used, it is for hookups and is struggling to grow its revenue in India. Shaadi.com is not an arranged marriage platform. Shaadi.com is a planned marriage platform. Indian culture has four stages of life and marriage is one of the life stages. When you are planning to marry you look for compatibility and it is not about a chemical reaction. On Shaadi.com the family and parents collaborate to find a partner. The old community networks are now dying and we replace those networks. We are bringing together people in the same life stage to find a like-minded partner. The hook-up sites don’t do that and don't understand the Indian ethos. They are applying the same global model to India which does not work beyond a certain point. You were the original internet entrepreneur with a disruptive product. Why did you not create a large business that went on to become a decacorn or a unicorn? It depends on how you define success. If the definition is labels such as decacorn and unicorn, then that's not the game we are playing. Those are vanity labels that I would rather not pursue. Our definition of success is value creation and we are long-term compounders, much like Berkshire &amp; LVMH, so in a sense our ‘overnight’ success story is still waiting to become obvious to the world. From that lens, our ROCE is perhaps the best in the industry we have only ever raised about $20 mn but created several billion in value between our operated and invested cos. Our investee companies employ thousands, have raised over $20 bn and will go on to create $100 bn in value over time, in the bargain generating tremendous wealth for the country and hopefully for us too. We boast an IRR of 52% consistently for more than a decade which is extraordinary by any standards and a testament to our approach and story. Many people build businesses but we were fortunate to create entire industries such as online matchmaking via Shaadi.com, which we still run; proptech company Makaan.com which we sold to NewsCorp very handsomely; India’s first &amp; still the largest digital ad agency, Interactive Avenues, which we sold to IPG at a benchmark price that is yet to be crossed; India’s first mobile gaming company, Mauj Mobile which spawned a massive industry. So, whether it is our customers, employees, shareholders, the country or society at large, I think we have already impacted 10s of millions and while we don’t have a market listed entity like Jio or TCS to show for it, we have delivered massive national and global level impact. Keep in mind that we are most often the first to check into investee cost and every company we have founded has been the first in its industry. Our innovations have generated billions of dollars in wealth and given rise to innumerable founders and entrepreneurs who have learnt at our companies and gone on to build massive companies of their own. Further, I am still very young and the Indian opportunity is only now unfolding. In the next couple of years, you will see some of our other bets in space exploration, mobility real edtech, &amp; sustainable fintech come into the limelight besides something very special we are building on our own. So, in short, I still remain the OG and if you force me to use your labels we have birthed not one or two but several Unicorns &amp; Decacorns and that too with very limited capital. It is perhaps one of the most spectacular untold stories of value creation in the digital economy. Ola is one company that is headed for an IPO and you own 2% in the company. How did that happen? When we invested in Ola, there was not much of a concept of venture funding and the company did not have any suitors so we were able to get in at a very attractive valuation and hold an extremely healthy minority stake which obviously has been diluted over time. I think the network effects are so large that it is hard for others to get into it. I am still a shareholder and looking forward to the initial public offering. I invested in 2012 and when I met Bhavish first, I did not understand the problem he was solving as I live in Mumbai where cabs are available. So I did not think there was a problem. A few days later when I was in Delhi and needed a cab, I was told that they would call a taxi stand. After I came back from Delhi, I realised there was a problem everywhere. And I used to call the call centre and Bhavish used to answer the call centre, which showed me his commitment and reminded me of myself when I had started and so I invested.

Anupam Mittal hits out at Google — 'Tech bullies need one arm chopped off in the form of penalties'

<ul class="summary-list"><li>Adam Neumann said Flow would either "compete or partner" with WeWork.</li><li>From what I could tell after visiting its first building, Flow doesn't need WeWork.</li></ul>When I walked into the lobby of Society Las Olas, an Adam Neumann-owned apartment building in Fort Lauderdale, Florida, I felt like I was entering a WeWork. There were playful neon signs on the wall ("Choose Happiness"), colorful midcentury-modern furniture, soft lighting, and lush greenery.I had come here to try to better understand Neumann's secretive new residential real estate startup, Flow.Last month, Neumann's people agreed to let me tour Society Las Olas, which will officially be Flow's first building come early next year. They also arranged interviews with staff and residents.<div type="image" title="The co-working space at Society Las Olas." height="3024" width="4032" msid="106137793" hostid="261" sizebytes="617740"></div>At a <a target="_blank" href="https://fortune.com/2023/07/11/adam-neumann-new-company-flow-compete-wework/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks">conference in July</a>, Neumann, who cofounded WeWork in 2010, said Flow would either "compete or partner" with his former company. Since WeWork last month filed for bankruptcy protection, there's been <a target="_blank" href="https://www.businessinsider.com/wework-bankruptcy-could-founder-adam-neumann-buy-company-speculation-2023-11">speculation Neumann could buy it back.</a>From what I could tell, Flow doesn't need WeWork. Firstly, Neumann's noncompete agreement expired at the end of October. Secondly, if you're using Flow's own coworking space, there'd be no reason to also pay hundreds of dollars a month for a WeWork subscription, especially when more people are working from home and <a target="_blank" href="https://www.cnn.com/2023/07/24/economy/gig-workers-economy-impact-explained/index.html">gig employment is increasingly popular</a>.And lastly, Flow is putting a huge emphasis on commerce and professional networking that residents I spoke to say has been helpful in growing their businesses."The ability to network with a lot of different people through the building has given me the opportunity to gain a lot more clients," said Matthew Sorrentino, a young life-insurance broker. "I'm in a relationship industry."There are regular "demo days" for residents and guests to showcase their businesses or anything else they want to present on, like financial wellness or the history of wine.On so-called Community Commerce digital message boards in the lobby, residents can advertise services such as car detailing or mental-health counseling.Tara Carter, who's a real-estate agent, says she's generated so much business from living in the building that she's "able to essentially almost live for free."Read more: <a target="_blank" href="https://www.businessinsider.com/adam-neumann-flow-apartment-startup-tour-florida-wework-2023-12">Adam Neumann created a secretive billion-dollar startup to turn apartment living into a utopian fantasy. I was the first reporter to set foot inside.</a><h2></h2>

Here's why Adam Neumann's mysterious billion dollar real estate startup will go head-to-head with WeWork

<keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>’s new initiative to entertain the passengers on board didn’t go down well with <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> police. The office of the cab aggregator has been searched and hard disks seized on allegations over Ola illegally downloading songs and playing it on Ola Play, an in-cab infotainment system. Police also raided a few vehicles, which were using that infotainment system and have seized them. According to <keyword id="6356641" type="CITY" weightage="20" keywordseo="times-of-india">Times of India</keyword> news report, a copyright infringement case has been filed against Ola CEO <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> and chief technical officer <keyword id="2412264" type="UNKNOWN" weightage="20" keywordseo="Ankit-Bhati">Ankit Bhati</keyword> on a complaint by <keyword id="4663939" type="UNKNOWN" weightage="20" keywordseo="lahari-recording-co">Lahari Recording Co</keyword>. "We have documented all the songs which were playing,” a police officer told media. "The notice has been issued to both the accused to show their copyrights on each song. Both accused didn't turn up on notice and we will wait for some more time. If they fail to appear, we will arrest them and produce before the court. Luthra &amp; Luthra, Ola's lawyers, said the company hadn't engaged in any wrongdoing. "It appears that the management of Ola has been dragged into this issue with a mala fide intention,, it said in a release. "We are confident that our client will stand vindicated of these allegations. Our client is sensitive to their rights as well as that of others. We have taken appropriate legal steps to protect our client's interests and the matter is now before the courts.” This incident came to light when Lahari had filed a complaint last month stating that the Ola Play feature launched by the company violated its copyrights.

Ola facing the music for illegal download of songs on Ola Play

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> is set to launch an Advanced Technology Center in the Bay Area of San Francisco. </li><li>The company will hire 150 engineers across Artificial Intelligence, Machine Learning, Data Sciences, Engineering and Product Development. </li><li>The centre will build solutions for electric mobility and connected vehicles, and lead futuristic experiments like autonomous vehicles.</li></ul>Indian ride-hailing unicorn Ola is headed to the centre of all innovation – the Bay Area in San Francisco, to set up an advanced technology center. The company is planning to hire over 150 engineers at the new centre, to develop next-generation technologies in mobility. These engineers will be hired across domains like Artificial Intelligence (AI), machine learning, data sciences, engineering and product development. “The Valley and the talent ecosystem here are very conducive to the development of next-generation mobility solutions. This is also a big step in our journey as a global mobility player, with a mission that talent from around the world are inspired to join us on,” said Ankit Bhati, Co-founder and CTO, Ola. In India, it launched Ola Electric, where it develops solutions to make electric mobility viable at scale. Now, the center in the US will build cutting-edge technology solutions in electric mobility and connected vehicles, and also lead futuristic experiments like autonomous vehicles. “The Advanced Technology Center will be the center-point of transformative mobility technology in the times to come,” said Bhati. Interestingly, Ola’s rival – the global ride-hailing giant Uber’s headquarters is situated in San Francisco too. See Also: <a href="https://www.businessinsider.in/uber-ola-to-have-electric-vehicles-in-india-by-2026/articleshow/69679364.cms">Uber, Ola might have to go electric by 2026 in India: Report</a> <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a>

Ola heads to Uber’s homeground to set up an advanced tech centre, will hire 150 engineers

Facing intense political heat in India, <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> on Monday announced the appointment of former <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Chief Operating Officer <keyword id="1385839" type="PERSON" weightage="20" keywordseo="arun-srinivas">Arun Srinivas</keyword> as director of its Global Business Group to lead the strategy and delivery of the India marketing solutions charter that is focused on large advertisers and agencies. Srinivas' appointment comes after a series of senior and leadership recruitments in recent months across marketing, partnerships, communications, and other key verticals in the country. "Large businesses and agencies play a crucial role in the country's digital economy and are critical to driving ecosystem standards for media," Sandeep Bhushan, Director and Head of Global Marketing Solutions, Facebook India, said in a statement. "I am thrilled to welcome Arun as he joins our team as Director GBG, and leads the mandate to shape the role the Facebook family apps can play in enabling businesses, supporting India's economic recovery, and building the digital advertising ecosystem of the country." As a part of his role, Srinivas will spearhead the company's strategic relationship with the country's leading brands, agencies, and partners to drive Facebook's revenue growth in key channels in India, and partner the media and creative ecosystems for accelerating adoption of digital tools by businesses. He will have the company's key business vertical teams, agency teams, and business solutions teams reporting into him. Srinivas comes with 24 years of experience in senior sales and marketing roles at companies such as Ola, Unilever, and Reebok. He also did a stint at investment firm WestBridge Capital Partners where he led the consumer vertical. The social networking giant recently courted controversy after a Wall Street Journal report on August 14 said that the top leadership at Facebook's India office refused to apply the company's own rules to politicians from the Bharatiya Janata Party (BJP), despite clear violations of Facebook's policies against incitement to violence, hate speech, and misinformation. Following this a coalition of 41 civil rights groups demanded that Facebook India should immediately place its public policy head Ankhi Das on a leave of absence pending a full audit of the company and an investigation into her statements as reported in WSJ.

Facebook brings on board Ola's former COO Arun Srinivas to lead India marketing solutions

<ul><li><keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> has partnered with <keyword id="6399726" type="ORGANIZATION" weightage="20" keywordseo="bses">BSES</keyword> Yamuna Power Limited (BYPL) and BSES Rajdhani Power Limited (BRPL). </li><li>Ola Electric will work with the power utility companies and set up charging stations and battery swapping stations. </li><li>In June, the Delhi government had said that it is running a pilot project testing the use of electric vehicles. </li></ul>Ola’s <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> subsidiary Ola Electric partnered with BSES Yamuna Power (BYPL) and BSES Rajdhani Power (BRPL) to set up charging stations in Delhi. BSES Rajdhani Power is a joint venture of Reliance Infrastructure and Delhi government. With this partnership, Ola Electric will work with utility companies and set up charging and battery swapping stations. “Ola Electric has been working closely with ecosystem partners across the country to facilitate mass adoption of EVs and create solutions to operate with minimal restrictions. This programme further augments our efforts to lay a strong foundation to enable the smooth functioning of EVs across the country by creating a widespread network of charging solutions that vehicle owners and operators can rely on,” said Ankit Jain, co-founder of Ola Electric. In July, Ola Electric became a unicorn after it raised $250 million from Softbank. In May, Ola Electric also raised funds from Arun Sarin, former Vodafone Group CEO and also from the Chairman Emeritus of Tata Group, Ratan Tata. In March, it raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Through Ola Electric, the company partnered with several equipment manufacturers and battery manufacturers, while looking to work with the automotive industry for solutions for electric vehicles. Delhi government has been trying to create awareness of EVs. In June, the Delhi government had said that it pilot project testing the use of electric vehicles. With the electric vehicle freight project called Deliver Electric Delhi, 1,000 EVs will be used by 30 players for deliveries over the next 12 months. Some of the high profile participants of this project include Flipkart, Amazon, Bigbasket, Grofers, Uber Eats, Zomato to Hero Electric, Mahindra Electric, Tata Motors and even logistics company Blue Dart Express.

Ola Electric partners with BSES to set up EV charging stations in Delhi

<ul><li><keyword id="408440" type="PERSON" weightage="20" keywordseo="BVR-Subbu">BVR Subbu</keyword> joins <keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> on its board of directors. </li><li>Subbu had held top positions at Hyundai and <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>. He currently heads a boutique strategy-consulting firm, Beyond Visual Range. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Electric turned a unicorn in July this year. </li></ul>Ola’s subsidiary Ola Electric brought B V R Subbu on board as a director. Subbu was the former president of Hyundai India and a general manager at Tata Motors earlier in his career. “Subbu has played a key role in building and establishing some of India’s iconic automotive products like the ubiquitous <keyword id="308405" type="COMPANY" weightage="20" keywordseo="Hyundai-Santro">Hyundai Santro</keyword> and Tata 2213. His deep understanding of the mobility space and consumers will be very valuable to us in our journey to build electric mobility for India and the world,” said Bhavish Aggarwal, Co-founder &amp; CEO, Ola. Subbu has been taking up various roles since he retired from Hyundai in 2006. He was also brought onto the board of Ampere Motors, the electric mobility arm of Greaves Cotton. Currently, Subbu heads a boutique strategy-consulting firm, Beyond Visual Range. “Ola Electric is the perfect amalgam of the passion and social consciousness of youth, an exceptional appreciation and understanding of technology, and a demonstrated ability to successfully build global scale and competitiveness, coming together to attain the national imperative of sustainable mobility,” said Subbu. In July 2019, Ola Electric turned a unicorn after it raised $250 million from Softbank. In May, Ola Electric raised funds from Arun Sarin, former Vodafone Group CEO and the Chairman Emeritus of Tata Group, Ratan Tata. In March, it raised ₹400 crores from Ola’s existing and early investors – Tiger Global and Matrix India. Interestingly, most of the investors in Ola Electric are its parent company’s investors – from Softbank to Arun Sarin, Ratan Tata and even Tiger Global and Matrix India.

The brains behind Hyundai Santro will now join the board of Ola Electric

<ul><li>The ride-hailing company’s subsidiary <keyword id="6602160" type="UNKNOWN" weightage="60" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised ₹400 crores from existing investors. </li><li>Ola has raised money 2 days after Mahindra and Mahindra launched its ride-hailing app Glyd which will use electric cars. </li><li>Ola had announced to bring 1 million EVs on Indian roads by 2022. </li></ul><keyword id="4393078" type="PERSON" weightage="40" keywordseo="Ola-Electric">Ola Electric</keyword> Mobility Ltd, a company backed by Ola – India’s unicorn ride hailing app – has raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. The news come just two days after Mahindra and Mahindra announced the launch of its ride hailing service Glyd which would be using only Electric Vehicles (EVs). The subsidiary company had come into being when Ola tried to push its electric mobility program in Nagpur in partnership with Mahindra. While the plan didn’t take off in Nagpur roads with drivers even reportedly returning the vehicles, Ola has stuck to its plan to bring 1 million Electric Vehicles on Indian roads by 2022. This venture seems to be a part of Ola’s bigger plans of doing more than just putting cabs on the roads. Through Ola Electric, the company has already partnered with several OEMs and battery manufacturers, while looking at working with the automotive industry for solutions for electric vehicles. According to the company’s official statement, they are currently running several pilots to deploy electric vehicles and charging solutions, including battery swapping stations, electric 2-wheeler and 3-wheeler services amongst others. “At Ola Electric, our mission is to enable sustainable mobility for everyone. India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” said Bhavish Aggarwal, Co-founder &amp; CEO, Ola in an official statement. Ola Electric is headed by Anand Shah, a former senior executive from the auto industry, and Ankit Jain, who headed Ola’s connected vehicle platform. While Ola has responded to the Mahindra challenge, it remains to be seen how fast Uber can react to the growing competition. See Also: <a href="https://www.businessinsider.in/uber-and-ola-have-a-new-challenger-in-india-and-its-a-large-car-maker/articleshow/68163955.cms">Uber and Ola have a new challenger in India – and it’s a large car maker</a> <a href="https://www.businessinsider.in/chairman-of-mahindra-group-that-makes-electric-cars-upsells-indias-performance-on-paris-pact-on-climate-change-at-wef-2019-davos/articleshow/67656856.cms">At Davos: India's pioneer electric car maker is pushing for action against climate change</a>

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Ola Electric partners with BSES to set up EV charging stations in Delhi

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The brains behind Hyundai Santro will now join the board of Ola Electric

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