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  • How Flipkart is delivering vaccines in Telangana – Drone delivery of Vaccine by Flipkart

    India had been severely hit by the second wave of the coronavirus pandemic and the country saw a shortage in the availability of vaccines. Even though the country is slowly recovering from the second wave the vaccination in the country is still facing certain problems and the one of the most important problems is related to logistics and supply chain management.

    The e-commerce giant, Flipkart has announced that they would deliver the vaccines in Telangana through drones. Let’s look at the further details of the drone delivery by Flipkart.

    Flipkart Drone Delivery – Latest News
    Flipkart to join hands with Medicines from the sky project for Drone delivery of Vaccine
    Flipkart’s plan of Drone delivery of Vaccine
    Flipkart’s statement on Drone delivery of Vaccine
    Government of Telangana on Drone delivery of Vaccine
    FAQ

    Flipkart Drone Delivery – Latest News

    On 11 June 2021, the e-commerce giant of India, Flipkart had announced that it was going to test the drone delivery facility of the company by delivering vaccines in the state of Telangana. The company conveyed that it would use the learnings from its supply chain that is tech enabled in order to use drones for delivering vaccines and medical supplies in the state.

    The company announced that it had partnered with the Government of Telangana to form an association in order to run the task of delivering the medical supplies and vaccines to the remote areas of the state using the drone technology.

    Flipkart to join hands with Medicines from the sky project for Drone delivery of Vaccine

    Flipkart has conveyed that they will conduct the pilot drone delivery of medical supplies under the Medicines from the sky project. It is a project which outlines the requirement for drone delivery and to assess the proposals which are created under the Healthnet Global Limited and the World Economic Forum.

    The Government of Telangana has decided to work on this project and to implement it into the healthcare supply chain of the state in order to implement drones for reaching the most remote areas in Telangana.

    Flipkart’s plan of Drone delivery of Vaccine

    Flipkart had conveyed that it would use the knowledge that the company has gained from their tech enabled supply chain in order to deploy the drones and to provide health care supply chain support by delivering the medical supplies.

    These are going to be supported by the technologies which the company has developed over the years such as geo-mapping, track and trace of location and routing of shipments.

    Some of these technologies will also be used to deliver the vaccines and medical supplies to the most remote areas where the infrastructure of the road makes it impossible to deliver them. The company will use the technology to conduct Beyond Visual Line of Sight deliveries using the drone. It will make the deliveries really faster and will play a major role in vaccinating the remote areas.

    Number of Daily Vaccine doses in India
    Number of Daily Vaccine doses in India

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    Flipkart’s statement on Drone delivery of Vaccine

    Pranav Saxena who is the distinguished product manager of Flipkart conveyed that the Coronavirus pandemic and the situation has pushed the countries worldwide to adapt to rapid technologies and shift towards robust technologies by developing scalable products. The medicine of the sky project is considered to be a sign towards it.

    He added that the step taken by Flipkart is a quick decision in order to make use of the cutting edge technology for the safety and the wellbeing of the people.

    He also conveyed that the company was proud to partner with the Government of Telangana in leading the association by utilizing the companies subtle understanding of the supply chain and the technologies that are helping and supporting in the automated movement of the medical supplies in completing the emergency requirements of the citizens across the state.

    The company conveyed that even during the disasters or any natural calamities they would deliver the medical supplies and the required products using the drone technology and this will set a place in the industry for providing the necessary products in the time of need.

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    Government of Telangana on Drone delivery of Vaccine

    The Government of Telangana has always been a step ahead in utilizing the technology for improving the lives of citizens. The Telangana Government stated that introducing the drone technology for delivery of vaccines and medical supplies for the citizens in the remote areas is going to be the first ever introduction in the entire country and added that the Government is happy to have partnered with Flipkart towards this initiative.

    Jayesh Ranjan who is the Principal Secretary from the Government of Telangana has conveyed that this initiative will go a long way in testing the best in class technologies and solutions in order to solve the future crisis that will be faced by the society.

    Conclusion

    The drone delivery is considered to be the most effective way to deliver vaccines and to solve the supply chain related problems faced by the country. India is one of the most populated country having a lot of population concentrated in the remote areas, this technology can be a solution for the major crisis faced by the country regarding vaccines if worked effectively.

    FAQ

    Yes, Drone delivery is legal in India but the operations must be limited to visual line of sight and the drone must not carry any dangerous goods.

    Where is Flipkart planning to deliver vaccines?

    Flipkart is planning to conduct drone delivery of vaccines in Telangana and deliver medical supplies under the Medicines from the sky project.

    How many vaccines are there for Covid-19 in India?

    India has authorized three COVID-19 vaccines: Covaxin developed by Bharat Biotech, Covishield developed by Oxford/AstraZeneca, Sputnik V developed by the Gamaleya Research Institute of Epidemiology and Microbiology, Russia.

  • List of top Companies adopting Hybrid workplace model and Why your company should adopt it too

    The hybrid work model was first introduced into the market by Google and later on a lot of companies have been able to adapt to the model. The Hybrid model is considered to be more effective in regards to the output for a company and various other advantages added to it. In this article let’s look at the top companies that have adapted to the hybrid work model and also why your company would think of moving forward with a hybrid model.

    Google
    Amazon
    Atlassian
    American Express
    Coinbase
    Facebook
    Microsoft
    Infosys
    FAQ

    Google

    The CEO of Google and Alphabet, Sundar Pichai had announced that the company will adapt to a new working model where the employees can work from the office as well as from anywhere during a particular week. 60% of the employees are expected to report to the office occasionally and the rest will be given the freedom to work from home.

    Amazon

    Amazon which is one of the largest e-commerce firms in the United States has announced a remote working policy for its employees. The company has conveyed that the employees whose position allows them to work from home will be able to work remotely from June 2021.

    The company has around 92,000 employees around the globe. Some of the remote jobs in the company are Customer, Service associate, Economist-Advertisement Finance, Customer Support Associate.

    Atlassian

    Atlassian is an Australian based software company having its headquarters in Sydney. The company develops software products, software development teams and other project managers. It was founded in the year 2002 and is a public limited company.

    The company has around 6117 employees and has been informed that the employees will be able to work from home forever. The recent remote jobs of the company are Content Designer, Product Marketing Manager, GTM.

    American Express

    American Express is a multinational financial service company. It was founded in the year 1850 and has its headquarters located in New York. The company has a worldwide presence and provides services in the fields such as Finance, Insurance and Travel. Some of the products of the company include Charge Cards, Credit Cards, Corporate banking and Traveler’s cheque.

    The company has more than 63,000 employees and has announced that the employees would be able to continue their remote working model through the Labor Day -2021. Some of the recent jobs for work from home include Manager-corporate communications and Global Supply chain management, Real time analyst and Business analyst.

    Coinbase

    Coinbase is an American based company that operates a cryptocurrency exchange platform. The company is a remote first company and does not have an official headquarters. The company has allowed most of its employees to work remotely and has conveyed that after the pandemic those who wish to return to the office can and the rest of the employees can work from home.

    Some of the recent jobs for work from home include social media manager, Group product marketing manager, training lead, client service. The company has more than 1000 employees.

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    Facebook

    Facebook is an US based social media platform that was founded in the year 2004 and has daily active users of more than 2 billion. They have a worldwide service and the platform is available in around 11 languages. Facebook is one of the largest social media platforms.

    The company has conveyed that it would allow almost 50% of its employees to work remotely forever. Some of the recent remote jobs are Technical program manager, a Product designer.

    Microsoft

    Microsoft is an US based software company and also a multinational technology corporation. The company was founded in the year 1975 and has its headquarters located in New Mexico, United States. The company offers products which involve personal computers, computer software and consumer electronics.

    The company has conveyed that their employees are allowed to work from home for an approx. of 50% of their work week and even the managers are given the liberty to approve remote work for the employees.

    Infosys

    Infosys is an Indian based multinational tech company that was founded in the year 1981 and has its headquarters in Bangalore, India. The company is into the IT services and IT consulting industry and is the second largest IT consulting company in India. The company has more than 2 lakh employees.

    Infosys has conveyed that they would let around 33 % to 50 % of their workforce to continue work from home forever. Some of the recent remote jobs of the company include Underwriting Manager, Post Closer Process associate.

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    Why should your company choose the Hybrid work model?

    The hybrid work model provides a freedom of choice and flexibility to the employees. It is considered to be a more effective, sound and a realistic approach towards remote jobs. This reduces the control over an individual’s life by being able to avoid the day to day problems such as transportation of the employees, time to log off or log in, the collaboration of the employees, etc.

    This model also acts as an advantage for the working women as they will be able to continue their employment and their career and not to quit their careers in between.

    It was also found that in the long term the productivity will be much more higher for work from home model as the employees are given the freedom to choose the surroundings and the place which makes it more convenient and comfortable for them.

    Conclusion

    The hybrid work model has a lot of advantages and helps the company as well as the employees benefitting them equally. This model is expected to become much more common and to be an important part of the corporate world in the near future.

    FAQ

    What is hybrid workplace model?

    The hybrid workplace model is a type of model that combines remote working and in-office working where some or all employees have the freedom to choose where and when they work, dividing their time between working from home and working from a office.

    Is hybrid work the future of work?

    As per the executives of the top companies the hybrid model in which employees work both remotely and in the office will become far more common.

    Is it better to work at home or in an office?

    Studies have shown that Work from home has increased productivity of employees also it cuts down the time it takes to travel to the office.

  • What is G7 Corporate Tax Deal and How will it Benefit India?

    There were a lot of articles and discussions about the tax evasions done by the big tech companies, which include Amazon, Google, Facebook, Netflix, etc. The companies have said to be paid very little amount in tax as they use tax havens and shift their operational region to avoid huge tax which should be paid to certain countries. The G7 summit has introduced a new tax system. Let’s look at the new tax system and how it would benefit India

    Corporate Tax deal – Latest News
    Countries that have agreed to the Corporate Tax Deal
    G7 Corporate Tax Deal Proposal
    How will India benefit from the tax deal?
    FAQ

    Corporate Tax deal – Latest News

    The group of 7 countries that are commonly known as G7 countries has decided on implementing the historical tax system on the global tech and multinational companies which will be a global tax. This proposal and decision are made with the aim to reduce the tax evasions conducted by the companies where they generally shift their operation base to the regions with a lower tax rate.

    Countries that have agreed to the Corporate Tax Deal

    The deal is likely to be put forth in the G20 summit, which is going to be held in July 2021. As of now, a total of 7 countries agreed that includes Canada, Germany, France, Japan, Italy, the United Kingdom and the United States.

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    G7 Corporate Tax Deal Proposal

    The proposal contained of 3 major decisions that were taken during the meeting.

    1. The companies or the multinational corporations will be forced to pay taxes on the profit they earn overseas.
    2. A minimum corporate tax of around 15% will be imposed on the multinational corporations on a global basis.
    3. The countries can share taxes on the profit earned by the companies or multinational corporations in a specific country through digital sales where the company has not got a physical presence.

    The G7 finance ministers and the Central bank governors conveyed that they will be committed to reaching an equitable solution on the allocation of taxing rights, the market countries will have to agree to share at least a taxation of 20% on the profits earned by the multinational corporations.

    They also conveyed that they would provide a proper coordination in applying the new tax rules and to remove the digital service taxes and other similar taxes that are levied on the corporations. They further added that they were looking forward to getting into an agreement with regards to the corporate tax in the G20 summit held in July 2021.

    How will India benefit from the tax deal?

    In the year 2019 the Finance Minister of India, Nirmala Sitharaman had cut down the corporate tax rates for the Indian based companies to 22 % and for the new Indian based manufacturing companies to 15 %. This would add an advantage as the bilateral tax agreements between the countries are also around a similar range.

    Since the tax rate in India is around 15 %, which is similar to the tax rate announced in the G7 summit, the country will not have to increase its tax rates. This would be a positive approach as India will be able to attract a lot of investments into the country. Furthermore, the existing tax havens may become unattractive and we can see a lot of investments coming into India.

    The decision of the countries in taxing the multinational corporations that have a significant sale in the country without a physical presence will let India tax a lot of corporations that earn a huge amount of money through digital sales alone.

    Amit Maheshwari who is a Tax Partner at the consulting firm AKM Global has conveyed that India would be able to benefit a lot from the newly proposed corporate tax as they are a big market for the huge tech companies.

    However, it is to be noted that as part of the agreement India will have to stop collecting the Digital service tax that it has levied on the companies such as Amazon and Google. India levies a Digital Service Tax of around 2 % on the revenues generated in India through the digital services offered by these companies. This includes digital platform services, data-related services and digital sales.

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    Conclusion

    India is expected to gain a lot from the new corporate tax discussed and approved in the G7 summit but tax havens such as Ireland, Netherlands, Luxemburg, Hong Kong and the Cayman Islands are going to face the consequences of the deal.

    FAQ

    What is G7 tax deal?

    The Group of Seven or G7 countries have agreed on a tax deal to impose a global tax on multinational corporations. The proposal is aimed at reducing tax evasion committed by large multinational corporations that often shift their base of operations to regions with lower tax rates.

    Which countries come under G7?

    The seven G7 countries are Canada, France, Germany, Italy, Japan, the UK and the US.

    Why was G7 tax deal proposed?

    G7 corporate tax deal was proposed to reduce tax evasion committed by large multinational corporations that often shift their base of operations to regions with lower tax rates.

  • What caused the recent outages in Reddit, Twitch, Pinterest and other popular websites?

    An exhaustive list of websites, which include Reddit, Twitch, PayPal, Amazon, Github, Stack Overflow, HBO, Quora, Shopify, Vimeo, and several news outlets like CNN, The Guardian, New York Times, Bloomberg News faced an outage today. An outage of this stature occurs rarely, and has thus been a subject to news, views, discussions, and ridicules all around the world. Twitter being the receptor of such news has obviously been flooded ever since the outage was first discovered.

    What caused the outage?
    How long was the outage observed?
    What should you know about Fastly?
    Did it also affect India?
    FAQ

    What caused the outage?

    The recent outage that affected a massive number of popular apps and websites around the globe has supposedly occurred due to the technical glitches experienced by Fastly, a popular American cloud-computing and CDN service provider.

    Fastly has reported that it has been experiencing issues with the CDN services on Tuesday afternoon and has also informed the same on its Twitter. The firm announced, “We’re currently investigating potential impact to performance with our CDN services.”

    As soon as Fastly declared about the outage they were facing, the other websites started to experience similar problems. The users who tried to visit the above-mentioned websites during the outage seemed to be stuck with a screen that says “Error 503 Service Unavailable”.

    Fastly Outage
    Fastly Outage

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    How long was the outage observed?

    The outage was first reported at 3:28 pm, Tuesday, June 8, 2021, by the Fastly systems, and it continued to disrupt the services on some major platforms till 5:27 pm when Fastly applied a fix. So, it was an outage that lasted for 2 hours, according to Fastly.

    However, the cloud computing giant also informed that users around the world might continue to face difficulties in accessing several websites for some time after it has already been fixed by Fastly.

    What should you know about Fastly?

    Fastly is a popular CDN services platform that helps speed website loading times with the help of “edge cloud.” This technology boosts the loading time of the websites along with helping them to tackle denial-of-service attacks or the cyber-attacks that try to deliberately maim a particular machine or network resource.

    Fastly is one of the most popular service providers in North America and South America that powers some of the prominent online media websites. This is the reason why the majority of the complaints were discovered in the Northern and Southern regions of America.

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    Did it also affect India?

    The Fastly-induced downtime that was experienced extensively across North and South America also affected some parts of India. Fastly, which operates in the Indian cities of New Delhi, Mumbai and Chennai also experienced issues with its operations and has cited “Degraded Performance” in these regions.

    Conclusion

    Though the Fastly issue that the world experienced today was “global CDN disruption” and was not limited to a particular data center, the global cloud service provider acted swiftly and ended the outage faster than it was thought of!

    However, such continuing outages that had also earlier affected Amazon Web Services, raises questions on the evolving internet infrastructures and why they are limited to a countable list of companies.

    FAQ

    What is fastly used for?

    Fastly is a content delivery network (CDN) company that helps users view digital content more quickly.

    Which companies use fastly?

    A total of 812 companies reportedly use Fastly including tech giants like Netflix, HBO, PayPal etc.

    Who are fastly competitors?

    Cloudflare, Amazon Web Services (AWS), Akamai, Google, and Microsoft are competitors of fastly.

  • Top 16 Tools that every Amazon FBA Seller Needs in 2021

    E-commerce platforms have altered ways of doing business in a tremendous manner. They have rendered the impossible possible by making the market place accessible for all. Not just for customers but also for sellers.

    This also means an increase in competition. Gone are the days where you can go on with your business without any change. Today, you have to plan and bring in innovation in every step that you take or else you see your sales plummeting down. To ensure better sales, here are a few tools that every Amazon seller must have:

    Amazon Seller App
    AMZ Finder
    Facebook Advertising
    PPC Entourage
    Sellics
    Amazon FBA Calculator
    FBA Fox
    Kabbage
    Source Mogul
    Shipworks
    Refunds Manager
    Camelcamelcamel
    Amazon Sellers Lawyer
    Currencies Direct
    Profit Whales
    Helium 10
    FAQ

    Amazon Seller App

    Pricing – Free
    Review – 4.2

    Amazon Seller App
    Amazon Seller App

    This is a very basic app whose functions are way more than basic. They help you fix a retail price for your product. All you have to do is just scan and upload the picture of the product. The app suggests an apt selling price using various parameters. It is completely free and thus makes the process completely investment free. If you are planning to sell on Amazon here’s a complete guide to help you out.

    AMZ Finder

    Pricing – Prices vary from $49/month to $799/month
    Review – 4.3

    AMZ Finder Tool Website
    AMZ Finder Tool Website

    One cannot emphasise enough on the importance of reviews as far as firms like Amazon are concerned. A negative review can turn down many prospective customers apart from lowering product rank.

    This tool helps you improve your customer relations and product reviews in a variety of ways. Automatic emailing, requesting positive reviews, alerting at the sight of negative reviews are a few of them. The last one mentioned is all the more important since it helps you act faster and address the issue immediately.

    Facebook Advertising

    Pricing – Price depends on CPC
    Review – 4.3

    Long gone are the days when Facebook was just a social media platform. It has expanded to be a market place as well. Realising this potential, Facebook now allows sellers to advertise their products after choosing certain variables like location, target audience, budget etc.

    PPC Entourage

    Pricing – Price vary from $o / month per region to $200 / month per region
    Review – 4.3

    PPC Entourage Website
    PPC Entourage Website

    PPC Entourage is yet another advertising tool for Amazon sellers. It claims to kill competition by putting your Sponsored Amazon ads on auto-pilot. They significantly help in improving profit margins. They completely take care of the advertising part while you take care of the business.

    Sellics

    Pricing – Prices vary from $198/month to $599/month
    Review – 4.4

    Sellics Website
    Sellics Website

    It is yet another tool that you may want to use as a seller on Amazon. This tool tailor made for Amazon monitors many key areas of business like SEO, research, reviews, Pay-per-click, competitor management etc. It is a must add on if you aim at improving your business at an exponential rate. The app is suitable, not only for pros but also for newbies.

    Amazon FBA Calculator

    Pricing – Free
    Review – 4.4

    As the name suggests, this tool lets you view, calculate and realise sales and price ranks of the competitors. This is an added information which helps you assess where you stand amongst others. The different facilities available here can also be used to determine revenue, RoI, and Profit.

    FBA Fox

    Pricing – Prices vary from $30/month to $45/month
    Review – 4.5

    It is an amazing destination for those Amazon sellers looking for a wholesale distribution platform. They catalogue almost 5 lakh items and extends services upto delivering your product directly to the buyer.

    Kabbage

    Pricing – NA
    Review – 4.2

    Lack of operational capital is a big problem that most of the beginners face. Kabbage provides loans for such small and medium enterprises. They use data on merchant activity to understand details about business performances.

    Source Mogul

    Pricing – $67/month
    Review – 4.5

    Source Mogul Website
    Source Mogul Website

    This tool helps you to find the right product to sell. This being an important aspect of any seller it helps you in automating the process of searching. It gives you an option to customise your wholesale lists as well.

    Shipworks

    Pricing – Prices vary from $49/month to $799/month
    Review – 4.3

    Shipworks website
    Shipworks website

    As the names says it helps in optimising shipping of your orders. The orders will be directly downloaded from the website of the store. Apart from that, it also helps in procuring monthly reports, customer invoices etc.

    Refunds Manager

    Pricing – Prices vary from $690/Year to $1190/Year
    Review – 4.5

    Refunds Manager Website
    Refunds Manager Website

    It is a tool that helps you to get your money back from Amazon. This includes the refunds for damaged products, excessive commission fees and so on. By keeping track of the refunds initiated, this tool will help you monitor the over cash flow of the business with much less friction.

    Camelcamelcamel

    Pricing – Free
    Review – 4.3

    Camelcamelcamel Website
    Camelcamelcamel Website

    This tool is very popular among the Amazon sellers due to the service that it provides to them by monitoring the prices available on Amazon. It also sends you alerts if you feed in your requirements like a range of prices based on their availability. Camelizer is a browser add-on of the same tool which makes the job easier for the sellers. They let you see the price history with ease.

    Amazon Sellers Lawyer

    Pricing – You have to Contact the supplier for a quote
    Review – 4.4

    Business is never a cake walk. And doing business through Amazon is no different. Things like suspension can happen. The tool Amazon Sellers Lawyers deals with the legal side of doing business and helps you revert back the suspension or any other kind of legal punishments imposed by the app. It also helps you to go on to the listings back. This is a go to place in case of any legal hurdles.

    Currencies Direct

    Pricing – NA
    Review – 4.5

    If you are a seller who undertake transactions internationally, then this is a tool that you must use. It takes care of all money that comes through international marketplaces. And there is no need to worry about local bank accounts. Their clients can save 3% of the overall sales value when compared with other firms.

    Profit Whales

    Pricing – Prices vary from $69/month to $500/month (They also charge 2% to 3% monthly ad spend on some plans)
    Review – 5

    Profit Whales Website
    Profit Whales Website

    By using the potential of data science, Profit Whales automates pay-per-click nuances of Amazon for other brands and even third party sellers on Amazon. They do this through their completely automated custom-built algorithms. Hence it is safe to consider this tool as Amazon’s pay-per-click automation software

    Helium 10

    Pricing – Prices vary from $37 /month to $198/month
    Review – 4.5

    Helium10 Website
    Helium10 Website

    This website is extremely beneficial for sellers who are launching a new product. SEO is an unavoidable aspect as far as online businesses are concerned. This tool aids in boosting your sales by optimising keywords. It tracks and finds out the best keywords that can be used so that your products come in all related searches the customers do. These high volume keywords will help you outrun your competitors.

    Other tools that Amazon sellers can use

    • Salsify
    • Seller Repay
    • Codisto
    • Channergy
    • Billbee
    • AmazeOwl
    • Entriwise
    • SellerMobile
    • eComEngine
    • taxomate

    Conclusion

    There are a plethora of tools that you can use to improve your sales on Amazon. One thing that you need to keep in mind is that no tool can be used in all situations in the same manner.

    You need to constantly adapt and improvise on tools. It depends on how your business fares on the platform. In a way, it is a cycle which determines each other. The right use of tools will benefit your business, and the changes in business will demand a change in the usage of tools. So watch your business very closely and use the tools in the best way possible.

    FAQ

    Which is the best Amazon seller tool?

    Junglescout, Camelcamelcamel and AMZ finder are some of the top amazon seller tools you should consider.

    Is being an Amazon seller worth it?

    If you are serious about selling and growing your business on Amazon then selling on Amazon is quite profitable as it is one of the top ecommerce site.

    What tools do I need for Amazon FBA?

    Amazon Seller Central App, Amazon FBA calculator and Camelcamelcamel are some of the top tools you need for Amazon FBA.

  • Why Softbank is Investing 700 million in Flipkart after exiting the firm in 2018?

    SoftBank Vision Fund is a Japanese based company that had exited from its investments in Flipkart after selling them off to Walmart Inc during the year 2018. But the company has now held discussions in order to invest into the e-commerce giant, Flipkart. Let’s look at why SoftBank is trying to buy Flipkart again.

    Softbank Funding – Latest News
    Flipkart Plans for IPO in US
    Reason for SoftBank’s Investment in Flipkart
    Flipkart’s Investment
    FAQ

    Softbank Funding – Latest News

    SoftBank has held discussions with the e-commerce giant, Flipkart to invest an amount of around USD 600 – USD 700 million during the funding round. Certain sources have claimed that the funding which is being raised by Flipkart is much more larger which is expected to be around USD 2 billion.

    The funding rounds estimated to see the participation of a group of investors or wealth funds which include Canada’s CPPIB, Abu Dhabi’s ADQ as well as the existing investors of the company which includes GIC and Qatar Investment Authority.

    The sources have conveyed that the funding rounds would value the e-commerce giant to closely around USD 25 – USD 30 billion.

    Flipkart Plans for IPO in US

    Flipkart had plans to go for an Initial Public Offering in the United States and the investment from Soft Bank would lead the company to push aside its plans to go public. This would mean that the e-commerce giant would stay as a private company for longer than it was intended to.

    A person close to the developments has conveyed that the deal between SoftBank and Flipkart would be finalized up in the next few weeks of June 2021. As per earlier reports, the e-commerce giant had plans to go public during the year 2022.

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    Reason for SoftBank’s Investment in Flipkart

    If the deal to invest in Flipkart is finalized then it would be another big move from the Japanese based group, SoftBank in entering into the Indian e-commerce market. The company has already been part of the e-commerce market with huge cash investments.

    After the exit from the e-commerce firm Flipkart during the year 2018, the re-entry into the firm is at the right time when the large Indian groups such as TATA and Reliance have been entering into the market sector and is trying to catch the market share.

    Even the rival firm of Flipkart which is Amazon has increased its investment in the Indian market by more than USD 7 billion in diversified sectors which include retailing, online payments, food delivery, grocery delivery, etc.

    The investment from SoftBank will help the e-commerce giant to build an ecosystem in order to compete with the rivals such as Reliance, TATA and Amazon.

    Revenue growth of Flipkart
    Revenue growth of Flipkart

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    Flipkart’s Investment

    Flipkart under the leadership of Kalyan Krishnamurthy has grown significantly over the years. They have increased their investments and the acquisitions in order to bulk up their logistics and supply chain in order to increase the its brand and fashion portfolio.

    In the month of April 2021, the company had acquired Cleartrip in order to strengthen its presence in the hospitality sector. Flipkart had also acquired an 8% stake in the Aditya Birla Fashion and Retail Ltd and also a 27 % stake in the Arvind Fashions.

    Other recent investments of the company include a logistics startup and a supply chain startup. The company is also focusing to invest heavily into the online grocery platform as it has seen an increased demand due to the pandemic and the lockdown in the major cities.

    The company has announced that it has plans to build warehouses for scaling up its grocery business and hired employees for it. The Indian business of Flipkart is operated through multiple entities. The online business is run by Flipkart internet and Flipkart India.

    Conclusion

    The e-commerce giant has expected to raise funds from the Canada Pension Plan Investment Board and also from the existing investors. 76.9 % of the stake is owned by the Parent company Walmart INC. The other investors include UBS, GIC, Accel, Microsoft, Qatar Investment Authority, Tiger Global Management, Tencent, ESOP pool and the founder Binny Bansal.

    FAQ

    When did SoftBank Invest in Flipkart?

    SoftBank’s Vision Fund invested $2.5 billion in Flipkart in August 2017.

    When did Walmart invest in Flipkart?

    In 2018 Walmart bought a roughly 77% stake in Flipkart for $16 billion.

    Is Softbank investing in Flipkart again?

    Yes, Softbank is in talks with Flipkart to invest approximately $700 million in it.

  • Why Jeff Bezos is Stepping down as Amazon CEO on July 5?

    Amazon.com is one of the well-known e-commerce platforms based in the United States. It is one of the big five IT companies of the United States along with the tech giants Google, Facebook, Apple and Microsoft. The CEO and the founder of the company Jeff Bezos have announced that he would step down from his position of CEO on July 5. Let’s look at the reason, Why he decided to step down as CEO of the company.

    Amazon CEO – Latest News
    Reason Why Jeff Bezos is stepping down as Amazon’s CEO
    Who will be the New CEO of Amazon?
    Reason Why Jeff Bezos chose 5 July as the date to step down
    FAQ

    Amazon CEO – Latest News

    Amazon CEO and the founder Jeff Bezos had announced in the Annual Shareholder Meeting of the company that he would step down as the CEO of the company he had founded around 3 decades ago on 5 July 2021.

    The company had previously announced about the transition plan of the CEO and is also noted that Jeff Bezos would not stay away from the company and would remain close to the company taking the major decisions of the company staying as an executive chairman.

    Reason Why Jeff Bezos is stepping down as Amazon’s CEO

    Jeff Bezos has conveyed that moving to the executive role he would be closely connected to the company and the decision-making process as well as being able to focus on a lot of other works.

    Jeff Bezos had conveyed that he is very excited to move into the chief executive chairman position of the company where he would be able to focus his energy and attention on new initiatives and products.

    It is expected that Jeff Bezos is stepping down as the CEO in order to focus on his other initiatives such as Blue Origin Spaceship company, Bezos earth Fund, Amazon Day 1 Fund and The Washington Post.

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    Who will be the New CEO of Amazon?

    Jess Bezos had also conveyed that he would hand over the position of CEO to Andy Jassy who has been a part of Amazon from the year 1997. He was the one who launched Amazon’s most profitable segment which is the AWS cloud computing division in the year 2006.

    In the year 2020, the revenue generated from AWS was around USD 45.3 billion and delivered an operating margin of 30 %. One of the recent achievements by Andy Jassy before the official handing over of the CEO position is to bring back the former senior executive of the company Jeff Blackburn.

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    Reason Why Jeff Bezos chose 5 July as the date to step down

    Jeff Bezos during the Shareholder meeting conveyed that there was an emotion behind choosing the date 5 July as the day to hand over the CEO position. He added that he chose the date as it was sentimental for him. July 5 is when Amazon has incorporated 27 years ago exactly on the same date in the year 1994.

    Bezos had even spoke about Andy Jassy providing an assurance for the shareholders that he would never let the company down and has the highest standards and the energy that is required to keep the company alive and special. He also mentioned about the deal where Amazon had acquired MGM studios.

    Conclusion

    Amazon has always made sure to keep its succession plans quiet but however certain spectators have predicted the successor to be Andy Jassy. The contribution of Andy Jassy to the firm Amazon is innumerable and the same would be expected from the new position which he would undertake.

    FAQ

    How much Amazon stock does Andy Jassy own?

    Andy Jassy owns over 1,250 units of Amazon.com stock which is worth over $280,268,736.

    How much does Jeff Bezos make an hour?

    Jeff Bezos earned an average of $13.4 million per hour during the pandemic.

    Who will be the next CEO of Amazon?

    Andy Jassy will be the next CEO of Amazon, he has launched Amazon’s most profitable segment which is the AWS cloud computing.

  • How will Amazon leverage MGM Studios after the Acquisition?

    Amazon which is a multinational tech giant has been competing against the OTT platforms such as Netflix, HBO studios and Disney+Hotstar with their Amazon Prime App. The OTT platform of Amazon Prime has announced its recent acquisition of MGM studios. Let’s look at the deal and how it is going to help Amazon in the OTT field.

    Amazon MGM Acquisition – Latest News
    Amazon’s Future Plan with MGM Studios
    The main ideology behind the Acquisition of MGM and Amazon
    FAQ

    Amazon MGM Acquisition – Latest News

    Amazon has finally acquired the legendary MGM studios which is a significantly legendary media company. The deal is said to be around USD 8.45 billion. This is considered to be one of the boldest moves in the entertainment industry.

    The deal will help Amazon Prime to take a forward step in the streamlined business and is the second largest acquisition in the history of Amazon.

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    Amazon’s Future Plan with MGM Studios

    Mike Hopkins who is the senior vice president of Amazon Prime Video has conveyed that the real financial value of the acquisition is the collection of the treasure in the deep catalog which they are planning to reimagine and develop together with the talented team of MGM.

    He also added that they are very excited and are looking forward to working with the talented team for high quality story telling. The company is planning to leverage the legendary catalog of 4,000 films and 17,000 shows which will strengthen the platform of Amazon.

    Kevin Ulrich, the chairman of MGM has conveyed that the combination to align the opportunity of the history of MGM with Amazon is inspiring. But above all Amazon needs more content for Amazon Prime video to stay relevant against the competition.

    Buying MGM will provide Amazon Prime video with the access to favorites such as James Bond, Real Housewives and Survivors. It also will improve Amazon Prime’s odds in creating their own originals with a fully fledged studio that has created legendary shows and movies.

    Revenue of MGM Holdings worldwide
    Revenue of MGM Holdings worldwide

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    The main Ideology behind the Acquisition of MGM and Amazon

    The main idea behind the acquisition of MGM is considered not to be the legendary movies or shows or not just to create original shows but to increase the number of subscribers for the OTT platform of Amazon.

    Amazon earlier had a stronghold by offering shipping discounts to prime members and attracting more consumers but right now a lot of firms have been offering shipping discounts for its consumers. At the same time, we can’t predict what Amazon would do with MGM’s content and it remains unexpected.

    FAQ

    Who is the founder of MGM Studios?

    Louis B. Mayer and Marcus Loew are the founders of MGM studios who founded it on 17 April 1924.

    When was MGM founded?

    MGM studios was founded on 17 April 1924 and It is around 97 years old.

    Has Amazon bought MGM?

    Yes, Amazon has acquired MGM studios for 8.5 billion dollars to compete against other OTT platforms.

    Conclusion

    The deal proves the willingness of Amazon to spend more in order to remain competitive in the streaming industry. It is to be noted that the competitors are spending heavily on developing the libraries and producing original content committing billions. This will be a step for Amazon to emerge as a much stronger brand in the streaming market.

  • What is “Hire to Fire” Policy and why Amazon would do that?

    Amazon.com is an American based e-commerce and technology giant. It is one of the big 5 companies in the United States in the tech sector. Amazon is considered to be the world’s most valuable brand and the most influential economic and cultural force in the world.

    Recently Amazon’s managers have accused the company of hiring employees on the Hire to Fire Policy. Let’s look at what exactly is Hire to Fire policy and how Amazon is involved in it.

    What is Hire to Fire Policy?
    Amazon Managers about Hire to Fire policy
    What is URA Goals?
    Amazon Employees on Social Forums
    FAQ

    What is Hire to Fire Policy?

    Certain people who have been claiming to be working in Amazon have been posting allegations against the company on various social media forums conveying that the company is involved in a Hire to Fire policy.

    The company has been hiring employees just to fire them within a year. A recent report from several managers working with the e-commerce giant has conveyed that they have to do it in order to meet their annual targets.

    Here the managers hire people internally or externally whom they intend to fire within a year. These people are hired just to meet the annual turnover targets which are called Unregretted Attrition (URA).

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    Amazon Managers about Hire to Fire policy

    Amazon has a goal to fire a certain percentage of its employees on a yearly basis. Three Managers of the company had revealed that they were facing a lot of pressure to meet the goal that they had to hire the people just to fire them later.

    A manager had conveyed that they hire people in order to meet the goals and fire them later just to protect the rest of the team. This practice is informally been called as hire to fire.

    What is URA Goals?

    Every manager is said to have a URA target and a URA target is the % of employees which the company wouldn’t regret firing one way or the other. Even the most senior Amazon executives including the CEO Andy Jassy are said to closely maintain their URA target.

    There was an example quoted by the publication where Amazon Web Services teams which fell short to achieve their URA goals in 2020 and were forced to make up the difference in the year 2021. However, an Amazon spokesperson had denied that the company hires employees with the intention of firing them. He also added that the company does not use the phrase Hire to Fire.

    Number of Amazon.com employees
    Number of Amazon.com employees

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    Amazon Employees on Social Forums

    Since the report was published there has been a lot of discussion about these in social forums. The Amazon employees have started speaking about the practice on online forums.

    On the Hacker News Forum of Y Combinator, a person who claimed to be working as a principal software engineer at Amazon conveyed that the company’s weakest link was its managers. He added that there are very few managers who have the technical knowledge and a lot of them who lacked technical depth and also added that a lot of capable engineers are being fired due to these incompetent managers.

    Another user who claimed to be in the manager position had agreed that there is a lot of scope for them to mess up the careers of the people through incompetent practices.

    There was a discussion even on Redditt where some Amazon managers had said that they hire people to fire them later just to meet the internal turnover goal every year.

    FAQ

    How many employees does Amazon have?

    Amazon currently has 1,298,000 employees.

    Is Amazon the largest employer?

    Amazon is the one of the largest employer after Walmart.

    What company has the most employees 2020?

    TCS has most number of employees with 448,400 as of 2020.

    Conclusion

    However, this practice is not just seen in Amazon but in a lot of other companies. A user had conveyed that this had earlier happened in Microsoft. A user from a tech company had conveyed that his manager had casually told him that the last spot in a team was for the person they would hire and later fire.

  • Why did Amazon banned Chinese Sellers from its platform in USA?

    Amazon one of the largest based e-commerce giant has removed certain made in china, sold on amazon gadgets from its e-commerce platform. Gadgets of companies such as Aukey and Mpow has been disappeared from the digital platform. Let’s look at the reason for Amazon to ban Chinese gadgets from its platform.

    About the ban
    Chinese Sellers on Amazon
    The allegations
    The Finding
    Steps Taken by Amazon
    FAQ

    About the ban

    Amazon.com had recently blocked the vendors of several top Chinese merchants from its platform stating the reason of suspicious behaviour. The industry insiders have conveyed that this move from Amazon is part of a targeted crackdown based on certain business practices that are questionable to the sellers on the platform, including the sellers based in China.

    The most products of Mpow which is the main electronics store of Amazon has not been available for purchase from April 2021. The electronics store is run by ByteDance and Patozon which is backed by Xiaomi.

    There was no response from Aukey and Mpow on the queries put forward by the South China Morning Post. However, a spokesperson from Amazon has said that the company will not be able to give comments on individual cases. He added that Amazon has systems to detect suspicious behaviour and to take prompt actions. There were no allegations of conducting fraud by Aukey and Mpow.

    Chinese Sellers on Amazon

    The two banned companies are Chinese vendors who have turned to Amazon in order to enter the international market. According to a recent report by Marketplace pulse which is a consultancy firm, 75 % of all new sellers on Amazon was Chinese based company as of January 2021.

    The share of Chinese based sellers on the US site of Amazon had increased from 28 % in 2019 to 63 % in 2021. The most successful sellers on Amazon would generate a huge amount of profit.

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    The allegations

    It is seen that as these Chinese firms are moving towards Amazon, they are bringing in some shady practices which is much more common in Chinese marketplaces. According to certain Industry insiders, some of the practices include creating fake reviews for the products, increasing the sales numbers, etc.

    The recent actions of Amazon can be considered as a warning from the e-commerce platform which sends the message that the US based giant will not tolerate such activities on their platform.

    The Finding

    The recent removal of products from Amazon’s website has created a coincidence with the reports which were sent by the antivirus product review site called SafetyDetectives. The company had conducted a survey where they received links of around 75,000 which is directed towards Amazon’s accounts.

    The cybersecurity team of the company have found that the links led to the vendors of Amazon which asked for positive reviews for their products for exchange of free products which would be provided by the website.

    The owner of this website has not yet been detected but the researches could find some information written in Chinese which has led them to believe that the server is located in China.

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    Steps Taken by Amazon

    From past few years Amazon has been working towards fighting such problems on their digital marketplace. From the year 2016 the company has banned incentivized reviews.

    In the 2020 brand protection report which was released by Amazon has mentioned that the company has spent around USD 700 million and has provided new employment for more than 10,000 people to crackdown fraudulent cases and abuse.

    According to a report, In the year 2020 the company has blocked more than 10 million suspected bad listings and 6 million attempts to create a new account.

    Platonov has conveyed that the manipulation of review has become essential in competition between the vendors within a certain marketplace. They added saying that they are almost present everywhere with number of social media groups, websites and even a lot of companies that are specialized in techniques such as brushing and leveraging ample networks.

    FAQ

    What percentage of Amazon reviews are fake?

    61% of electronics reviews were reported to be fake on Amazon as of March 2019.

    Does Amazon allow fake products?

    The sale of counterfeit products is strictly prohibited on Amazon.

    How do I avoid Chinese sellers on Amazon?

    Avoid brand names that are weird combinations of consonants and vowels, Avoid products that are identical to one with different brand names, and Carefully inspect products that have generic product titles and do not list a brand name, these steps might help you to avoid Chinese sellers on Amazon.

    Conclusion

    The problems related to fake reviews still exist on the Amazon and other online retail platform even though there have been a lot of lawsuits filed against such companies and the individuals who have written the reviews. Platonov has said that the problem would increase as Chinese vendors expand overseas.