<ul><li>Recruiters across sectors — automobile, banking and finance, and telecom — are banking on internships to assess potential candidates. </li><li>Management has been the hottest sector to enroll in, for internships, at nearly 47%, according to online training and internship platform Internshala. </li><li>Top business schools such as <keyword id="481185" type="COMPANY" weightage="20" keywordseo="Management-Development-Institute">Management Development Institute</keyword>, Gurgaon, Tata Institute of Social Sciences (TISS), Mumbai, Indian Institute of Management (IIM), Kozhikode have seen a rise in the number of internships and average stipend. </li><li>Only 60% of students of a total of 360,000 who enroll in post-graduate courses land a management job, according to the All India Management Association (AIMA).</li></ul>Recruiters across sectors — automobile, banking and finance, and telecom — are depending on internships to assess potential candidates, to hire for full-time roles later on. E-commerce startups such as Grofers and Flipkart are leading the market for summer internships. Management has been the hottest sector to enroll for internships, at nearly 47%. This is more relevant than ever as companies seek people with real-time experience, according to <a href="https://www.businessinsider.in/internships-in-india-on-the-rise-with-startups-leading-the-way/articleshow/67655265.cms">online training and internship platform Internshala.</a> Management graduates from top business schools such as Management Development Institute, Gurgaon, Tata Institute of Social Sciences (TISS), Mumbai, Indian Institute of Management (IIM), Kozhikode saw a rise in the number of internships and average stipend as compared to last year. Management Development Institute, Gurgaon saw a 10% rise in average stipend at ₹231,000 for two-months. “Summers are important opportunities to spot future talent, so companies don’t risk missing out even if the overall sentiment is sluggish,” Kanwal Kapil, dean of placements at MDI Gurgaon <a href="https://economictimes.indiatimes.com/jobs/ecommerce-is-coolest-place-for-summer-internship/articleshow/71485727.cms?from=mdr">told </a>ET. According to the ET report, the average stipend for two-month summer internship increased from ₹204,000 to ₹208,000 at TISS, Mumbai while it decreased to ₹168,000 compared to 171,000 last year at IIM, Kozikhode. Highest paymasters FMCG (Fast Moving Consumer Goods) and e-commerce companies are the top paying sectors for internships. While L’Oreal was the highest paying employer at ₹ 320,000 at MDI, e-commerce companies like Amazon, Flipkart, and Grofers rolled out the maximum internship offers across these management schools. “The focus is to bring the best talent. We see any softening of hiring by our traditional on-campus competitors as an opportunity to further strengthen our talent pool,” said Rahul Guha, Managing Director of the <keyword id="136162" type="COMPANY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword>, which plans to hire over 100 interns across locations in India. According to the All India Management Association (AIMA), only 60% of students of a total of 360,000 who enroll in post-graduate courses land a <a href="https://www.businessinsider.in/warning-do-not-apply-to-b-schools-that-dont-offer-access-to-internships/articleshow/70476474.cms">management job</a>. See also: <a href="https://www.businessinsider.in/warning-do-not-apply-to-b-schools-that-dont-offer-access-to-internships/articleshow/70476474.cms">Warning! Do not apply to B-schools that don't offer access to internships</a> <a href="https://www.businessinsider.in/aicte-awards-for-top-colleges-and-organisations-with-best-internships/articleshow/70834885.cms">The top Indian colleges and organisations for internships, awarded by AICTE</a> <a href="https://www.businessinsider.in/education/news/coursera-launches-campus-product-to-integrate-online-learning-with-university-lessons/articleshow/71433652.cms">Coursera launches campus product to integrate online learning with university lessons</a>

India’s top b-school graduates are being paid over ₹2 lakh for summer internships

2015 has been an eventful year for <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> biggies. They’ve made billions (as VC investment), they’ve lost Crores (in discount wars), and they’ve hired big. Debated GMVs and tax disputes aside, Indian <keyword id="35621" type="UNKNOWN" weightage="80" keywordseo="e-commerce">e-commerce</keyword> companies could call it a day (or year?). 
 
As 2016 rolls in, the cash only seems greener on the other side with more money, innovation and definitely more bling coming their way. 
I chatted up with <a href="http://www.businessinsider.in/searchresult.cms?query=Mausam+Bhatt">Mausam Bhatt</a>, <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>’s Head for Growth (Sales, Online Marketing and Alliances) and Senior Director, Mobile Commerce and Online Marketing to take a sneak peek into what the coming year might mean for this <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> giant. 
 
· You’ve said browsers are slow and the experience couldn’t be personalized. However, Flipkart Lite was released on the mobile web instead of the app. Why? 
Even 6 months ago this was not feasibility. That’s because we’ve changed the paradigm completely. We’re very much on the cutting edge of what a light weight mobile site would look like. We worked closely together with the guys from<a href="http://www.businessinsider.in/searchresult.cms?query=+Google"> Google</a> to figure out a way to offer a native experience on a browser. Let’s see how far we can tread. 
 
· When you did launch the mobile website again, why not offer a full fledged website them? 
This is a fully fledged mobile site in the sense that everything that could have been bought earlier on our site could be bought now. It will just get better in time with notifications and personalization. Load times are also so much lesser. 
 
· Flipkart Lite comes on Opera and Google Chrome. Any plans to extend it to other browsers? 
Our team is working to standardize the interface. In the next couple of quarters we could have this across all browsers. 
 
· What are you focus areas in 2016? 
Our primary focus is to ensure the app remains light on the system. It shouldn’t bloat with the added functionalities. We are also looking to leverage the fundamental features that a mobile device offers. Search is a major focus area. Last but not the least are ratings and reviews. We can leverage gestures for reviews, enable Vine videos, audio bytes and so on. Social and location proof could also be added. 
 
· Flipkart recently picked up over 34% stake in digital mapping firm MapmyIndia. What are you planning to do with that? 
Location and logistics are a big problem in India. We’re working closely to solve issues like longer delivery times, repeat deliveries and unnecessary phone conversations. 
 
· Where are you pouring most of your marketing budget as 2016 rolls in? 
Increasingly we’re committed digital and online more and more. The people we are trying to attract are online anyway. If you look at the hierarchy of online needs, it starts out with <a href="http://www.businessinsider.in/searchresult.cms?query=online+messaging">online messaging</a>, photo sharing, content, and then <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a>. The opportunities for us are online, and get them to shopping. It’s a matter of being closer to where the users are, and it is online. 
 
Few years ago mass media was more important because as a country we were running campaign posts to advertise the benefits of online shopping. Now awareness levels around <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> are fairly high. 
 
· Flipkart bled close to Rs 2,000 Crores in the year ending March. Most of that was in discounting war. Do think you guys overdid it a bit? 
Over a period of time product differentiation will become more important than the prices. Companies will then differentiate on overall end-to-end customer experience and trust. 
 
· There has been a firm push to encourage prepaid payment. How is it picking up? 
Cash on Delivery continues to be important in the country. Wallet and credit card adoption are rising for repeat consumers. As brand loyalty kicks in, people seem OK with saving money in a wallet. 
 
· Flipkart has introduced native advertising for companies to engage better with customers on its mobile platform. Tell me more about this. 
We have collected a lot of consumer-based data over the last 8 years. This can be great for brands to leverage. This can drive a lot of traffic for intent-based purchases to brands. 
 
· What’s Flipkart’s primary focus for the app in the coming year? 
A lot of effort will go into making the experience more personalized. That will make sure it is a one-of-a-kind experience. 
 
· You are hiring big this placement season. What are your plans with the fresh talent you’re getting? 
Seeing companies express appetite for more engineering talent is really heart-warming. We are planning to build our own data platform. It is a high priority for us now. Once more engineering talent comes in we’re also planning to do more on Engineering and Vision. We’ll balance expertise in these areas with raw talent from the universities. 
 
All I can say is exciting times are ahead! 
 
Image credit: Indiatimes

Exclusive: Flipkart 2016 - The Way Forward

KOLKATA/MUMBAI: Where is the country’s top engineering talent heading to in a year of subdued hiring? <keyword id="10591" type="CITY" weightage="40" keywordseo="Samsung">Samsung</keyword>, <keyword id="6355199" type="CITY" weightage="40" keywordseo="Reliance-Industries">Reliance Industries</keyword> (RIL), <keyword id="43340" type="CITY" weightage="80" keywordseo="Oracle">Oracle</keyword> and <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> topped the hiring charts for the class of 2014, according to data from the top <keyword id="49737" type="COMPANY" weightage="80" keywordseo="IITs">IITs</keyword> at the end of the first phase of this placement season. 
 With 271 offers, almost a 100 more than the second-largest <keyword id="41007" type="POSITION" weightage="80" keywordseo="recruiter">recruiter</keyword>, Samsung is the clear winner so far. This number includes 69 pre-placement offers (PPOs) and 28 postings in <keyword id="43918" type="COUNTRY" weightage="40" keywordseo="Korea">Korea</keyword>. 
 
The South Korean conglomerate has ramped up hiring numbers by as much as 71% from 158 last year, emerging as the biggest recruiter at the IITs so far. It had made 23 international offers last year. 
 
“We focused on campus hiring for multiple reasons — strengthening our core competency in embedded computing and building new skills/capabilities in UX design, enterprise software and data analysis,” said a Samsung spokesperson in a written response to ET. Out of 243 candidates selected for India, 211 are <keyword id="821920" type="UNKNOWN" weightage="40" keywordseo="from-software">from software</keyword> engineering and 19 from UX design. 
 RIL, another regular recruiter, made 177 offers, lower than last year’s 202. Students have been taken on in the roles of graduate <keyword id="6369183" type="POSITION" weightage="40" keywordseo="Engineer">engineer</keyword> trainees (GETs). 
 
“Other than some 45 PPOs, RIL has hired 132 students from 8 IITs – Delhi, Bombay, Roorkee, Kharagpur, Guwahati, Madras, Kanpur and IITBHU. In addition to this, Reliance Jio hired 5 GETs, one from IIT-Hyderabad and 4 from IIT-Indore,” said a Reliance Industries spokesperson in a written response. 
 
These numbers reflect hiring at the end of the first phase of the placement season in which roughly 50-60% of the batches have been placed across IITs. The second phase will start in the first week of January and will cover the remaining students. 
 
Tech major Oracle was another big recruiter, taking on close to 135 students across almost all IITs. While its overall campus hiring numbers remained fairly consistent over the last three years, it made a few US-based offers for the first time this year. 
 
“Oracle has a number of different business groups internally and we hire students across a variety of positions. 
 Many students will join Oracle, working in product development roles across our hardware, software or industry-specific based groups,” said a <keyword id="154054" type="POSITION" weightage="40" keywordseo="company-spokesperson">company spokesperson</keyword>. 
 E-commerce major Flipkart, as reported earlier by ET, has been a big draw at the IITs during the first phase of placements. The company increased hiring from around 100 last year to 118. “Campus hiring is strategic for us. It helps us identify and bring new talent,” <keyword id="225032" type="PERSON" weightage="40" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, co-founder, Flipkart, told ET. 
 
“Past experience has shown us that talent from tier-I colleges like the IITs and IIMs and the way they meet the challenges posed by a high-growth environment like ours has been remarkable -- and a great fit for an organisation like Flipkart that stresses on ownership and innovation,” added Bansal. 
 
Several other companies emerged as strong recruiters, according to hiring data from six of the older IITs at Bombay, Kharagpur, Madras, Roorkee, Kanpur and Guwahati. 
 Business process outsourcing company <keyword id="369930" type="COMPANY" weightage="40" keywordseo="EXL-Service">EXL Service</keyword>, for instance, made 97 offers across 7 IITs this year compared to just 46 across 5 IITs last placements. The increase in the number of campus hires in the roles of consultants and analysts is to power the company’s analytics business, which has been growing at more than 30% for the last few years.

Samsung, RIL, Oracle and Flipkart top employers of IIT graduates this year

MUMBAI: Flush with funds and hungry for growth, a bunch of startups is gearing up to stake claim on talent at India’s top campuses. 
 
As placements unfold over the next few months at the IITs, IIMs and other institutes, these startups look on track to give traditional heavyweights a run for their money in the battle for talent. 
 
Ten startups that ET spoke to are collectively looking to hire more than 850 graduates across leading business schools, engineering colleges and graduate schools this fiscal. 
 From established names such as <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, TaxiForSure and <keyword id="1006428" type="COMPANY" weightage="20" keywordseo="Olacabs">Olacabs</keyword> to campus newbies like Vizury and <keyword id="2463175" type="UNKNOWN" weightage="20" keywordseo="CodeNation">CodeNation</keyword>, almost all are hiring in greater numbers than before, armed with attractive pay packages and the promise of greater responsibilities and faster growth for potential hires. 
 
Barely six months after being registered as a company, enterprise software developer CodeNation is already one of the most coveted recruiters at engineering campuses such as National Institutes of Technology (NITs), offering salaries of Rs 24 lakh. One of the last to go to the campuses last season, it hired 12 engineering graduates in March 2014. 
 
This time, it plans to net the best early on from the IITs, NITs, IIITs (Indian Institutes of Information Technology), DTU (Delhi Technological University) and PESIT (PES Institute of Technology). "We went to campuses very late (last time), but do not want to do the same this time. We plan to hire 50 students from the best colleges," said Anuja Sivaram, head of operations at CodeNation. 
 Another relatively new name is Bangalore-based big data analytics startup Vizury. Last year, it went to two <keyword id="2470783" type="UNKNOWN" weightage="20" keywordseo="BITS-Pilani-University">BITS Pilani University</keyword> campuses with seven offers. The startup, which in June saw a third round of <keyword id="6357455" type="EVENT" weightage="20" keywordseo="Funding">funding</keyword> totaling $16 million from new and existing investors, is planning to recruit more this year. "We plan to hire 25-30 engineers from IITs, BITS Pilani University, NITs and IIIT campuses for our product engineering team. Students will be working on cuttingedge analytics and advertising technology platforms," said Subra Krishnan, vice-president in charge of products. 
 
Taxi-service startup Olacabs, fresh after raising Rs 250 crore last month, is on an expansion mode. 
 
To drive its growth plans, the company is in the market for 100 new hires from IITs and IIMs, compared with 40 it recruited last year, said co-founder and Chief Executive Bhavish Aggarwal. 
 
Rival TaxiForSure, on its part, is heading to engineering campuses for the first time this year. Until now the company hired engineers laterally. "We will head to IIT-Madras and IIT-Bombay for the first time. Now we have five engineering managers who can train the new recruits and therefore there is sufficient leadership to hire from engineering campuses," said human resources head TN Hari. 
 While it hasn’t decided on the number of engineering students to be recruited, the startup will hire 25 from IIMs in Bangalore, <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword>, Ahmedabad and Lucknow as well as the <keyword id="6357275" type="ORGANIZATION" weightage="20" keywordseo="Indian-School-of-Business">Indian School of Business</keyword>. 
 Online retailer Flipkart, last year’s biggest <keyword id="41007" type="POSITION" weightage="20" keywordseo="recruiter">recruiter</keyword> in the startup space, declined to share numbers for this year but is expected to at least match last year’s hiring tally. 
The Bangalore-based company, which made an entry into the ET Top Recruiters at B-schools survey for the first time this year, hired more than 275 students from across campuses, including 90 management trainees, 115 graduate trainees and 70 software development engineers last season. 
 
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What helps these startups attract talent other than strong hiring numbers is a vibrant work environment, and salaries that are as competitive as many established organisations. TaxiForSure, for instance, will be offering packages ofRs 8-10 lakh at IITs. At IIMs, salaries will range between Rs 12 lakh and Rs 25 lakh, compared with Rs 12-18 lakh last year. 
 Mobile marketing and communications startup <keyword id="416397" type="UNKNOWN" weightage="20" keywordseo="ZipDial">ZipDial</keyword>, which intends to hire around 20 students this year, says while its fixed salaries may be slightly lower than market rates, top performers stand to make much more in terms of variable bonuses and employee equity grants. LimeRoad.com, which operates an online shopping platform for women, will offer employee stock option programmes. 
 Restaurant-guide startup <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> is offering around Rs 15 lakh a year while property listings portal <keyword id="1960231" type="UNKNOWN" weightage="20" keywordseo="Housing-com">Housing.com</keyword> will be shelling out anywhere between Rs 12 lakh and Rs 18 lakh. 
 Mumbai-based Housing.com, which raised Rs 115 crore in a new round of funding in June, was in fact, a <keyword id="2470782" type="UNKNOWN" weightage="20" keywordseo="first-day-recruiter">first-day recruiter</keyword> at <keyword id="2470784" type="UNKNOWN" weightage="20" keywordseo="IITKharagpur">IITKharagpur</keyword> placement rounds last December, sharing space with the likes of <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword> and <keyword id="43340" type="CITY" weightage="20" keywordseo="Oracle">Oracle</keyword>. 
 
This year, as well, several startups are likely to be among the first and second day recruiters at prestigious campuses, a privilege usually reserved for big-ticket recruiters. 
 
"The culture of entrepreneurship that startups provide, the growth opportunities and the challenging work environment are all very attractive to a number of students," said Punj Rajan, a student placement committee member at IIT-Kharagpur. "They actually want several startups to be among the companies slotted in the first few days of placements." Rajan had interned with Jabong.com during summer. Even B-schools are ready to make extra efforts to attract more startups. 
 
IIM-Bangalore last year organised a separate day for startups to come and hire from the executive MBA batch. "Startups often offer senior positions and if they need more time and rounds, we are ready to stretch for them. In the near future, we may have separate startup fairs for our flagship PGP batch too," said Sapna Agarwal, head of career development services at IIM-Bangalore. 
 
Not surprisingly, Advitiya Sharma, co-founder of Housing.com, says he has been flooded by invitations from top colleges. His plans are not firmed up as yet, but he intends to hire around 25 people from IITs and a similar number from IIMs across software, analytics, operations and tech roles. 
 
Another startup, Wooqer, has already made three pre-placement offers at Malaviya National Institute of Technology, Jaipur. It plans to hire 25 students across IITs and a couple of NITs, and intends to reach out to IIM-Indore, IIM-Bangalore, SP Jain Institute of Management &amp; Research and NMIMS soon. 
 
Salaries will range from Rs 13 lakh toRs 17 lakh. Other institutes including graduate and design schools are also being targeted by these startups. 
 
Upasana Nath, chief recruitment officer at Zomato, said besides the 40 students it will be hiring from engineering colleges like the IITs and senior leadership profiles from IIMs and ISB, it will be taking on board 200 for front line sales and content operations from graduate colleges in Delhi, Mumbai and Bangalore. Suchi Mukherjee, CEO &amp; co-founder of LimeRoad.com, said the startup intends to get 30-50 people from campuses alone. IITs in Delhi, Kanpur, Mumbai and Chennai will be the focus for technology and IIMs in Ahmedabad, Bangalore and Kolkata for product managers, marketing and category managers.

Indian Startups Compete With Bigger Firms For Campus Recruits

<ul><li><keyword id="19903330" type="General" weightage="100" keywordseo="Nykaa" source="keywords" meta.keywordsubtype="org" meta.entityname="Nykaa" meta.hostid="261" meta.entityid="Nykaa">Nykaa</keyword> has sued its former Chief Business Officer</li><li>Nykaa accuses him of breach of contract</li><li><keyword id="20209792" type="General" weightage="20" keywordseo="Gopal-Asthana" source="keywords">Gopal Asthana</keyword> currently heads <keyword id="20050933" type="General" weightage="20" keywordseo="Tata-Cliq" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Cliq" meta.hostid="261" meta.entityid="Tata Cliq">Tata Cliq</keyword></li></ul> In a legal battle between two major players in the fashion and beauty industry, Nykaa has taken action against its former Chief Business Officer, Gopal Asthana, who is now leading Tata Cliq. The company has accused Asthana of "breaching confidentiality, misappropriation of proprietary data and seeking to harm its business," an Economic Times report says. Additionally, Nykaa says that Asthana approached the company's employees (who were earlier reporting to him) to join Tata Cliq, a direct competitor. Nykaa, led by <keyword id="20875531" type="General" weightage="20" keywordseo="falguni-nayar" source="keywords">Falguni Nayar</keyword>, filed a petition in the Bombay High Court, claiming that Asthana used his previous position at Nykaa to persuade staff members he once supervised to move over to Tata Cliq. Some of these employees, the company stated, had already made the switch in the past year. Nykaa believes this has harmed its business and seeks to protect its proprietary data. Asthana had been a key executive at Nykaa for four years before moving to Tata Cliq in June 2023. Despite a non-compete agreement, Nykaa allowed him to join Tata Cliq after a three-month break, known as garden leave. However, the company now claims he misused confidential business information to benefit his new employer. <div type="Article" hostid="261" msid="113021204" title="70-hour work week to sleeping in offices: Golden words on hustle culture from NR Narayana Murthy, Elon Musk, and other billionaires" mstype="2" mssubtype="0"></div> In response, Nykaa is demanding a refund of Rs 19 crore in employee stock options that Asthana received during his time at the company. Additionally, the company is seeking Rs 5 crore in damages, citing loss of goodwill and business impact. The court has temporarily barred Asthana from recruiting Nykaa employees for Tata Cliq, though <keyword id="20037043" type="General" weightage="20" keywordseo="Tata-Digital" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Digital" meta.hostid="261" meta.entityid="Tata Digital">Tata Digital</keyword> itself has not been named in the case. Asthana, now the CEO of Tata Cliq, has denied the allegations, saying they are “incorrect” and will be addressed during arbitration. While he acknowledged the dispute, he stressed that it is strictly between him and his former employer, with Tata Cliq not being directly involved in the legal proceedings. He was quoted by ET, “However, since the matter is sub-judice, I can’t comment on the same. The matter is between my former employer and me, and my current employer is not a party in the matter and therefore best left out in the discussion." Both Nykaa and Tata Cliq are fierce competitors in the beauty and fashion space, going head-to-head with other major players like Reliance’s Ajio, Flipkart’s Myntra, and Amazon Fashion. Nykaa is counting on significant growth in its fashion business, expecting a 20% year-on-year revenue increase, making this legal conflict a high-stakes issue for the company. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/iit-bombay-2024-placements-lowest-salary-drops-to-rs-4-lpa-22-students-get-rs-1-crore-package/articleshow/113015190.cms" data-type="tilCustomLink" target="_blank">IIT Bombay 2024 placements: Lowest salary drops to Rs 4 LPA, 22 students get Rs 1 crore package</a> <a href="https://www.businessinsider.in/tech/news/ai-generated-content-on-the-internet-today-is-more-than-human-generated-study/articleshow/113079845.cms" data-type="tilCustomLink" target="_blank">The internet has more AI-generated content today than human-created and this could mean trouble</a>

Nykaa sues Tata Cliq CEO Gopal Asthana for contract breach, says he approached employees to join rival company

The founders of Swiggy <keyword id="254527" type="PERSON" weightage="20" keywordseo="Sriharsha-Majety">Sriharsha Majety</keyword> and Nandan Reddy have something magical about them. Coming from the background of entrepreneurs, they always said entrepreneurship was always in their blood. Here are a few interesting facts about the founders of Swiggy that you might not have known but will inspire you. Harsha believes in being stubborn Stubbornness is one personality trait that Harsha believed to have shaped him. He says, “I was really stubborn about doing things that excited me and was ready to commit myself to it.” Inspired by this belief, he turned his back to the campus placement and enjoyed a year of gap before he joined IIM Calcutta. Harsha was inspired by Phanindra Sama, Founder of RedBus The amazing growth of Phanindra Sama’s concern RedBus inspired Harsha and gave him the idea that he can take a plunge into the ecommerce arena. Initially they set up a logistics company Harsha and Nandan Reddy initially founded a logistics company known as Bundle in August 2013. This is because they discovered a huge potential in the logistics and shipping sector within the ecommerce industry. They wanted to democratize shipping and intended to provide the fastest way for people to make shipments across the country. Their crucial need was to find a technology co-founder They needed a technology co-founder to make their vision into a reality. Saying that the need to find a technology co-founder is crucial for every start-up, Harsha said, “It wasn’t easy (to find a technology partner) as none of my friends were ready to take the risk and finally I had to resign to reality and got a contractor to build the product.” Their first venture could not succeed By the time they got ready with the business model of Bundl, they found that the way the ecommerce market worked had changed dramatically. Ecommerce sellers like Flipkart and eBay wanted to handle the shipping of their products themselves and this trend led to the shrinking of the market. They had to shut down their first venture within a year saying, “That’s when we knew that we had to change our focus and it wasn’t worth the opportunity cost. Thankfully, we didn’t have any employees, investors and liabilities at that time.” They learnt from failures Their failure for the first time did not put them down. Harsha wanted to turn their learning into something more fruitful. Contemplating on filling a gap they found in the market, they observed that the rationale behind founding Swiggy was, “There was no large company with ideas similar to ours and hence we saw a competitive advantage of building a hyperlocal delivery platform that moved things fast in the city.” The unique merits of Swiggy In most ways, they invented a food delivery platform that was original and incomparable with the existing ones. Establishing itself very soon as the largest online food ordering platform in the country, some of the unique merits of Swiggy include lightning fast deliveries, live order, no restrictions on order amount, and providing the comfort of giving them their most favorite food to the customers wherever they are. Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a> <a href="https://www.businessinsider.in/unknown-facts-about-flipkart-founder-sachin-bansal/articleshow/70494717.cms">Flipkart founder Sachin Bansal</a>

You Searched For "flipkart IIM A placement dispute" and got 6 results

India’s top b-school graduates are being paid over ₹2 lakh for summer internships

Prerna Sindwani

Exclusive: Flipkart 2016 - The Way Forward

Saikat Pyne

Samsung, RIL, Oracle and Flipkart top employers of IIT graduates this year

Economic Times

Indian Startups Compete With Bigger Firms For Campus Recruits

Economic Times

Nykaa sues Tata Cliq CEO Gopal Asthana for contract breach, says he approached employees to join rival company

Divyanshi Sharma

Fact of Swiggy founders Sriharsha Majety & Nandan Reddy

BI India Bureau