Cautious Flipkart continues to hire
The Walmart-backed ecommerce platform will continue to hire for roles across engineering, supply chain, Shopsy, and grocery business functions for CY 2023.
Wednesday April 26, 2023,
5 min Read
Guess what? Parrots are video calling each other… and loving it.
Scientists from Scotland and America helped pet parrots make video calls to each other and the birds actually ended up making new feathered friends over the internet.
Talk about the rise of the animal-internet!
In other news, Serum Institute has doubled its investment in Biologics to $300 million as the two companies restructured their deal that was inked in September 2021. As per the new arrangement, Biocon will have access to 100 million doses of vaccines annually together with the distribution rights to Serum's vaccine portfolio.
Meanwhile, Sequoia Capital-backed reported a higher loss of Rs 216.6 crore for FY22, from Rs 130.7 crore in the previous fiscal year. The edtech startup’s overall expenditure rose by 39% while its revenue increased 38%.
Cuemath, like other edtech firms, is slowing its expansion plans, and trying to burn as little cash as possible as the sector faces an existential crisis in a post-pandemic world.
Last but not least, take this [digital] elevator if you want to explore space [online].
But did you know that there are scientists working on building an actual space elevator? It has been in the works for over 120 years and may become a reality in a decade or so.
The one problem to solve: Making a strong enough cable.
In today’s newsletter, we will talk about
- Cautious Flipkart continues to hire
- Next steps to expand EV adoption
- Register on ONDC, says Piyush Goyal
Here’s your trivia for today: When was the first edition of the Indian National Film Awards held?
Cautious Flipkart continues to hire
Despite macroeconomic uncertainties,will continue to hire engineering talent apart from filling roles for supply chain vertical Ekart, value commerce platform Shopsy, and its grocery division. CPO Krishna Raghavan tells YourStory that the company expects attrition and plans on continuing bonus programmes, increments and promotions for non-senior employees.
- Flipkart has already mapped its annual hiring expectations and will continue to hire senior talent, including vice presidents and senior vice presidents.
- The company continues to hire through programmes including case-study competitions such as GRiD and WiRED, post-internship offers, and campus placements.
- It has decided to continue ESOP-related benefits for the current year, including refresher grants as part of the appraisal cycle.
Amount: Rs 2.35 Cr
Next steps to expand EV adoption
More Indians are adopting electric vehicles than ever before, thanks to central and state government subsidies. But Sudhendu Sinha, NITI Aayog's adviser on infrastructure connectivity, transport, and e-mobility, stresses that localisation of the EV supply chain is quintessential to growing the industry.
Areas of work:
- Sinha believes instead of giving subsidies on two-wheelers, public transportation and large commercial fleets should be incentivised to go electric.
- He notes giving out loans for EVs is quite a challenge owing to the inability of financing agencies to adequately underwrite the market.
- Schools and universities should also actively encourage students to work on solving both small and large-scale issues of electric mobility.
Register on ONDC, says Piyush Goyal
Commerce and Industry Minister Piyush Goyal has asserted that companies should register their main platforms onand allow customers to access other products on the network instead of building a separate app.
- Goyal also suggested identifying and onboarding companies with large retail networks through the company’s platform or other smaller platforms.
- ONDC is working with ITC and other large companies to bring their retail networks to its platform.
- It is also working with organisations like NABARD to create digital education for smaller retailers to use technologies like QR codes and barcodes.
News & updates
- Call to comply: The EU said 19 major online platforms and search engines would be subject to extra scrutiny under its new content moderation rules, including the likes of Twitter, Apple App Store, YouTube, Google Search, Facebook, Instagram, TikTok, and Snapchat.
- Playing it right: Spotify has crossed the half-billion mark for monthly active users for the first time, helped by its expansion into more markets, sending its shares up 5%. The number of MAUs rose to 515 million in the first quarter, beating Spotify's guidance and analysts' forecast of 500 million.
- Alliance for good: The Venture Capital Alliance (VCA), a coalition of more than 20 VC firms, was launched on Tuesday with the goal of getting the VC industry to increase its commitments to climate tech. Its members include some of the world’s largest VC funds, including Tiger Global.
When was the first edition of the Indian National Film Awards held?
Answer: October 1954. The awards were given in three different categories—feature films, documentaries, and children's films.
We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected].
If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.