As MakeMyTrip rakes in Rs 69 Cr, Indra Nooyi will step down as CEO of PepsiCoTeam YS
Growing up in Chennai (Madras back then), Indra Nooyi wanted to be the President of India. At the dinner table, her mom would often ask her to write a speech on what she would do if she became the President, Prime Minister or Chief Minister. Well, she didn't become any of that. But as PepsiCo's CEO, she added quite a bit of fizz to the company, during the 12 years that she held that position. She stepped down from the post on Monday, and ladies and gentlemen that indeed was a great innings! Back home Deep Kalra has found more ammunition to fight the battle. MakeMyTrip's parent company has added Rs 69 crore to its India kitty, boosting its financial reserves. Stories on exciting startups like the curiously named Lowfundwala and Open Innovations Lab round off the day. Read on.
MakeMyTrip's Mauritius-based parent MakeMyTrip Limited Mauritius (company) pumped in Rs 69 crore into the India subsidiary, recent filings with the Registrar of Companies (RoC) reveals. So far this calendar year, the Mauritius-based company has infused Rs 170 crore into its India subsidiary - MakeMyTrip India Private Limited.
Indra Nooyi will step down as the CEO of PepsiCo after occupying the post for 12 years. She will be succeeded by Ramon Laguarta on October 3, and will continue to be a part of the PepsiCo's board until 2019. Indra had joined Pepsico in 1994 and in 2006 took over as the CEO from Steven Reinemund. Under her leadership, PepsiCo grew from $35 billion in 2006 to $63.5 billion in 2017.
The market for language services is fast growing. According to market research firm Statista, the global language services industry was worth $43 billion in 2017. The report adds the revenue from translations and interpretation services was $3.61 billion as of 2016. YourStory lists some of the startups that are scaling high in the language translation segment.
Open Innovations Lab (OIL), the brainchild of IIT-Kharagpur alumnus Sanjay Jangid, endeavours to solve the problem of access to innovation. The two-year-old startup, based out of Jodhpur in Rajasthan, has created an ‘open innovation’ platform that brings together technical experts, co-creators, product developers, “implementation specialists”, mentors and strategists to craft innovative tech-enabled solutions for businesses.
Storytelling through short films is becoming a big part of the startup and corporate narrative. Mumbai-based Lowfundwala is a full-service video agency that aims to simplify startup storytelling. The company was started by Kashyap Swaroop and Harsh Desai in 2014. Lowfundwala was born as an ode to startups that, despite having a killer idea, never have money and always fall short on storytelling.