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Billionaire Flipkart Founder Ready to Launch Stealth AI Startup

Leave a Comment / Founder, News, start-up, Tech News / By Sandhya Gupta

Former Flipkart co-founder, Binny Bansal, is embarking on a new entrepreneurial journey, this time in the field of artificial intelligence.

According to sources cited by Bloomberg, Bansal’s latest venture is set to make a significant impact on the AI landscape, with a focus on serving corporate clients worldwide. The startup, currently shrouded in secrecy, plans to provide AI expertise, products, and services, following a model reminiscent of IT giants like TCS and Infosys.

Image Source: bnn.network

Bansal, a 40-year-old billionaire who co-founded the e-commerce behemoth Flipkart and realized substantial gains from selling his stake to Walmart Inc., is now setting his sights on India’s vast English-speaking youth population. His goal is to nurture the next generation of AI professionals and offer innovative AI services. This ambitious project revolves around talent development and service offerings, with a particular emphasis on smaller Indian cities that are often overlooked by tech giants.

Although the startup is keeping product details under wraps, it is believed to be targeting the e-commerce and legal sectors in its initial stages. Future expansions are anticipated in the realms of analytics, data science, and financial services. The official product launch is scheduled for the second half of 2024.

From Bengaluru to Singapore: A Global Vision Takes Shape

While the startup is headquartered in Bengaluru, it is officially headquartered in Singapore, a city where Binny Bansal has made his home since his tenure at Flipkart. The project is currently in stealth mode for product development in Singapore, with strategic plans for expanding into the lucrative US market in the future.

Binny Bansal and Sanchin Bansal, both alumni of the prestigious Indian Institute of Technology, Delhi, co-founded Flipkart, which eventually evolved into a local e-commerce giant competing with Amazon. Notably, Binny Bansal served as the CEO of Flipkart when he orchestrated the high-profile sale to Walmart for a staggering $16 billion in 2018. Despite relinquishing his executive role, he maintains a presence on the Flipkart board and retains shares in PhonePe, Flipkart’s digital payment service. Furthermore, Binny Bansal has actively been investing in technology startups, displaying a keen interest in fostering India’s burgeoning tech ecosystem.

Also Read: E-Commerce Startup Udaan to Trim Costs Ahead of 2025 IPO

As Binny Bansal’s stealth AI startup takes shape in the heart of India’s tech hub, it has the potential to become a formidable player in the global AI landscape. With a visionary founder, a focus on talent development, and a commitment to innovative service offerings, the startup is poised to make waves in the industry, much like Bansal’s previous endeavors. As the countdown begins for the official product launch in 2024, the tech world eagerly anticipates the unveiling of this intriguing venture and its potential to redefine the AI landscape.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Moto G72 India to Launch on October 3, 2022: Check Specs and other features

Leave a Comment / News, Tech News / By Sandhya Gupta

Recently, Motorola unveiled numerous smartphones all over the world. Despite this, the company doesn’t intend to stop releasing new smartphones. The company will reportedly announce yet another phone next week, according to the most recent source. Under its G series, Motorola is introducing a brand-new smartphone in India. The Moto G72 is scheduled to go on sale in the country on 3rd October. On its official Twitter account, Motorola shared the new smartphone and provided the launch date.

The
smartphone is also featured on Flipkart, confirming its
characteristic features. With multiple launches planned, the upcoming
month is going to be busy for smartphone manufacturers and
enthusiasts. Google has also declared that the Pixel 7 series will
debut in India.

In advance of the Moto G72’s debut, the company has now disclosed some of the most important details, including availability. As with other Motorola smartphones, the forthcoming smartphone will be offered via Flipkart. The smartphone will be available in two colors: Meteorite Grey and Polar Blue.

It
has been announced that the smartphone would have a punch-hole pOLED
display with a center alignment and a refresh rate of 120Hz. The
phone will feature HDR10 support, DCI-P3 color gamut, 10-bit color,
and 1,300 nits of brightness. The manufacturer affirmed that the
phone will support IP52-rated water-repellent and include an
in-screen fingerprint scanner.

The
Moto G72 will have a triple camera system with a 108-megapixel
primary camera, an ultra-wide camera that also functions as a depth
sensor, and a third camera. In this model, there will also be a
specialized macro camera. The manufacturer has also hinted that the
phone will have twin Dolby Atmos-tuned speakers. The forthcoming
Motorola smartphone will be driven by a MediaTek Helio G99 SoC along
with 6GB of LPDDR4X RAM and 128GB of internal storage, providing
strong performance.

The
phone will come pre-installed with the stock Android 12 operating
system. A 5,000mAh battery that supports 33W rapid charging will
power the phone out of the box.

According
to Motorola, the new smartphone will resemble the Edge 30 Fusion
quite a bit, but unlike the G71, it won’t support when it debuts.
However, Motorola hopes to make up for that by introducing the G72 to
its sector of the Indian smartphone market for the first time with a
1,300-nit, 120Hz pOLED display with a 10-bit color rated to mimic a
billion colors. The smartphone will come pre-installed with Android
12 and Motorola India’s steadfast ThinkShield security protections.

Motorola
Mobility LLC, branded as Motorola, is an American consumer
electronics company, and a subsidiary of Lenovo. Motorola primarily
makes and sells Android smartphones. In 2011, the company was divided
into Motorola Mobility and Motorola Solutions, two independent public
businesses, following a $4.3 billion loss from 2007 to 2009.

Motorola
Mobility took ownership of the firm’s consumer-oriented product
offerings (such as its mobile phone market, TV set-top
boxes and cable modems) and Motorola Solutions took ownership of the
firm’s enterprise-oriented business units. Since Motorola Mobility
was spun out during the reorganization, Motorola Solutions is
typically seen as the immediate successor to Motorola, Inc. Motorola
Mobility( handset division) was purchased by Lenovo in 2014 from
Google.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

All You Need to Know About Flipkart Big Billion Day 2020

Leave a Comment / News, Tech News / By Athulya

India’s biggest online sale is back, and it’s here right in time for your Diwali Shopping. Over the last few years, Flipkart has been gaining a large following in India due to its mega shopping bonanza known as the Big Billion sale. This annual online shopping extravaganza features mind-blowing offers on a variety of products. Flipkart recently released updates regarding the dates of the sale, and what offers users can expect this time around. Here’s a look at everything you need to know about the Big Billion sale, and the deals that come with it.

When is Flipkart Big Billion Sale?

Flipkart finally published dates for its annual shopping bonanza – the Big Billion Sale. This year, the sale will go live between October 16th and 21st. During the course of these six days, the e-commerce giant will offer huge savings plans and deals to shoppers. The sale will feature massive price-cuts and savings schemes on a variety of products from different categories. While the sale officially starts on October 16th, Flipkart Plus members will receive early access. As per the announcement, Plus members can begin their shopping from 8 PM on October 15th, getting first preference on a slew of products. Since their sale goes live roughly four hours before it does for others, they will be able to make the most of the e-commerce sale. Furthermore, Flipkart Great Indian Festival sale will also kick off shortly, making this a great time for shoppers across the country.

What deals can users expect?

Flipkart live page suggests that users will receive an extra 10% instant discount if they leverage SBI debit and credit cards. Furthermore, shoppers will also be eligible for cashback on purchases made using Paytm. Users will also be able to access several no-cost EMI plans for those who use Bajaj Finserv. Several other deals will also be made available for shoppers who use ICICI, HDFC, and SBI banks. Electronic devices will see a maximum discount of 80%, whereas laptops will feature a 60% price-cut. Additionally, appliances such as TVs will have a 75% discount, along with several exchange offers and no-cost EMI options.

Clothes and other accessories will feature discounts between 60% and 80%, giving users a chance to update their wardrobe. Everything from men’s wear to women’s ethnic wear will be available on these discounts. Day one of the Big Billion sale will introduce an extra 10% discount, giving users an incentive to finish their shopping early. Another highlight of the sale will be the discounts that Flipkart provides on its own products. Various appliances, furniture, and other accessories will have 60% price-cuts. The e-commerce giant will introduce new deals every day, with home appliances having discounts between 50% and 80%.

Other Deals to Watch Out For

Flipkart also announced that new deals would be out every eight hours, much to the delight of online shoppers. The Walmart-owned e-commerce giant will be offering mind-blowing deals on everything from mobiles to sports shoes from October 16th. New deals will come out at 12 AM, 8 AM, and 4 PM during the days of the sale. Furthermore, Flipkart will offer even better deals through its SuperCoins. The e-commerce platform announced that it would be offering over 2000 SuperCoins as a part of several riveting and exciting deals.

Flipkart Big Billion Days 2020 Schedule

Offer Period October 16th – 21st October 2020
Plus Members October 15th, 8.00 PM
Other users October 16th, 12.00 AM (Midnight)
Mobile Offers for Plus Members October 17th, 8.00 PM
Mobile Offers Others October 18th, 12.00 AM (Midnight)

Flipkart Big Billion Sale Deals

Fashion 60%-80%
Home and Kitchen 50%-90%
Televisions and Appliances Up to 80%
Beauty and Baby care Starting at INR 79
Mobiles Up to 90%
Electronics Sale Up to 80%
Gaming Laptops 40% Off
High-Performance Laptops 20%-30%
Trimmers and Personal Care Up to 80%
Power Banks 50% to 80%
Headphones Up to 50%
Bluetooth Speakers Up to 50%
Pen drives Up to 80%
Data Storage Device Up to 80%

Everyone planning to upgrade their laptop or smartphone should mark their calendar for the Big Billion sale. Every product, from mobiles to apparels, will be available at never-before-seen prices and will be up for grabs for all users. So, are you ready for Flipkart’s Big Billion Sale? Let us know what category of products you are most excited to see on sale in the comments below!

Athulya

Being a cinephile with a love for all things outdoorsy, Athulya never misses a chance to chase inspiring stories or poke fun at things, even when the subject is herself. Currently pursuing a degree in mechanical engineering, she is someone innately interested in technical and scientific research. Music reviews and op-eds define her as they allow her to explore different perspectives. Though sometimes she thinks she makes more sense playing the guitar than she does while writing.

Government Denies Flipkart Permission to Enter the Food Retail Space

Leave a Comment / Tech News / By Athulya

The world knew that something big was in motion when Walmart bought a majority stake in Flipkart. The major e-commerce platform had become extremely popular in India in recent years. Since India has a large population in need of household supplies and other goods, Flipkart was booming. Walmart, a major wholesale and retail player in the US with thousands of stores, wanted to become a part of this massive industry. However, a recent landmark decision by the Indian government has made things difficult for them. Here’s a look at what the decision and what it means for the retail giant.

India Says No

The Indian government dismissed Flipkart’s plan to make its entry into the retail food business. This move will serve as a considerable setback for Walmart, which was planning on expanding into this space in India. The American retain giant owns the majority of the e-commerce firm and was hoping to use this plan to get back on its feet. Due to the unprecedented COVID-19 pandemic, the e-commerce platform was facing a massive downturn. The company recently released a statement that Asia, which was the world’s third-largest market, had been one of the worst-hit by the pandemic.

Laying Down the Law

The Ministry of Commerce and Industry, through its wing, the Department for Promotion of Industry and Internal Trade rejected Flipkart’s proposal. Flipkart competes directly with Amazon India and wanted to enter the retail food space to make up for their losses and gain a better foothold in the Indian market. The government body turned down this proposal by stating that it violated regulatory guidelines. The proposed new business, titled Flipkart FarmerMart, cannot be accepted as it is structured on 100% FDI funding. The Chief Corporate Affairs Officer of Flipkart, Rajneesh Kumar, said they would re-evaluate their proposal and reapply soon.

Flipkart’s Response

Rajneesh also said that Flipkart focuses on building an innovation-driven platform and marketplace. He also said that the company believes it can significantly help India’s farmers and even its food processing sector through this initiative. The proposed plan would help boost the retail food chain supply and make the entire process more transparent and credible. Furthermore, Flipkart also believes that the scheme would help Indian farmers improve their income, and therefore, support the Indian agricultural sector.

Flipkart’s Plan

The e-commerce giant had come out with such a plan last October. Flipkart’s CEO, Kalyan Krishnamurthy, had said that the company would invest over $258 million in this new venture. The investment would majorly go into supporting and improving the local agriculture-ecosystem. The company would also help develop the supply chain by working with thousands of farmers, farmers’ associations, and the food processing industry. The plan was to help improve the agricultural sector while also making high-quality food available to millions of Indians across the nation.

Indian Government’s Stand

Other e-commerce platforms, such as Zomato, Grofers, and Amazon, had entered this space and gotten approval for the same. Up until recently, the government had permitted 100% foreign direct investment in this sector. However, it has since reevaluated those guidelines and made changes. As per the new decision, food retail functions as any other marketplace that bridges the gap between third-party sellers and buyers. Therefore, such agencies can only provide a platform for business to occur. They cannot offer their own products or have equity in any firm that sells on its platform.

Most of these e-commerce platforms want to enter the food and grocery sector as it enables them to engage with customers frequently. As per studies, this sector remains relatively untouched, as it accounts for only 1% of total online sales. Walmart recently stated that the government’s strict lockdown measures and the overall effect of the pandemic had affected global growth. Most states in India had restricted e-commerce platforms from delivering in a bid to stop the spread of the novel coronavirus. It will be interesting to see how the international retail giant will bounce back from this setback.

Athulya

Flipkart has Temporarily Shut down its Services Responding To The 21 Days Lockdown

Leave a Comment / News, Tech News / By Annasha

The victims of COVID-19 are rising at an alarming rate throughout the world. The Indian government is taking many steps to put an end to this outbreak. And, responding to the emergency lockdown of 21 days, Flipkart has temporarily put an end to its services. Though the demand for online services has recently increased, in the need of utter crisis it has come to a pause. Flipkart has never stopped its services before. But, now distancing is the best solution. In this journey of thirteen years, Flipkart has always given its best to give its customers the priority. Even a few days back also, Flipkart was taking orders and the delivery staff was working. But, after yesterday, everything has come to a sudden halt. It is expected to get over after 21 days. But, this is a vulnerable point where saving lives is more important in online shopping.

What has been shut down?

One of the biggest e-commerce platforms of India, Flipkart has announced the deactivation of its services. In response to the lockdown for 21 days, Flipkart has informed on its website and mobile phone’s application as well. It will be shutting down the online ordering, buying and selling of goods. Because home delivery is a huge risk both for the customers and the delivery men as well. And, the risk of spreading the virus grows exponentially if either of has it. Many people were relying on the services of Flipkart for daily basic needs. But, for the time being, the alternate way should be considered.

The Other Services of Flipkart

Though the company has shut down the delivery services, other activities are still online. Flipkart has not closed other services like video streaming, playing online games, online payment transactions, etc. They can be accessed online. Paying bills are also very crucial. So, Flipkart has still kept online the platform of bill payment so the users can pay their electric, phone, water bills, etc.

The social distancing has also gathered numerous audiences for the Flipkart Video Streaming platform. The Game Zone is also active as it is one of the most preferred things to do during this quarantine. The company has also come into a joint partnership with Give India to donate health kits to those who are in need.

Reassurance to resume

Flipkart will not be receiving orders anymore. And, the company has also reassured that it will be back as soon as possible. Customers should cooperate with them to fight off COVID-19 and they will resume at the earliest. On the other hand, Amazon has declared that it will be providing the services. But, the company in this crisis will only prioritize the basic needs of the people. Ordering anything except the essential products won’t be entertained for the time being.

Some of the important highlights

Here are some important details about the sudden shutdown of services. Flipkart has around 30,000 delivery staff who will stop working temporarily. The crisis has affected every sector of our nation both economically and socially. Survival has become questionable, but somewhere down the line fear of unemployment is growing roots.

Delivery of extreme necessities like food essentials, pharmaceuticals, and medical types of equipment is the only exception. Apart from these, the lockdown applies for anything and everything and from anyone and everyone. It is not only Flipkart shutting down its services, but e-commerce platforms like Grofers and BigBasket are facing the same problems. After the analysis of the financial year 2018-2019, it is noted that the worth of the Indian e-commerce market sums up to $38.5 billion. And, the sudden destruction of this supply-chain market will bring one big loss for the business. The online grocery store of India, BigBasket has also declared about shutting down its services. Though they are receiving a tremendous amount of orders, they are helpless right now. Millions of customers rely on Flipkart, Amazon for their daily essentials. So, this 21-day lockdown will have a major effect on their lives. But, if doing this gives some positive feedback by eradicating COVID-19, then everyone should cooperate. Every big e-commerce companies in India are taking necessary actions in response to yesterday’s speech of our Prime Minister.

Annasha

Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more

Flipkart Tops the List of Best Company for Employees in India Third Time in a Row; Beats Amazon and Oyo

News, Tech News / By Yashica Vashishtha

LinkedIn has released the 4th edition of the ‘2019 Top Companies in India’, and Flipkart is the one that topped the list of the most preferred workplace for Indians. The Walmart acquired company Flipkart is a home for over 14000 employees and is one of the fastest growing companies in India.

The list from LinkedIn has ranked Amazon and OYO at the second and the third places, and the parent company of PayTm, One97, got shifted to fourth place from the third place which it held in the last year’s list.

LinkedIn, with the help of its 54 million users in India, shortlists the companies for ranking in the list and take four major criteria into account – interest in the company, engagement with employees, job demand and employee retention. Also, another requirement for the companies to get ranked into the list was to have employed over 500 employees as of February 1, 2018.

The evaluation of the best company was among the private companies operating in India, and any non-profit firm, government institutions and the recruiting companies were excluded from the competition. Also, LinkedIn and its parent company, Microsoft, were also not included in the contest to keep it fair.

Though Flipkart has been winning this race for the past three years, consecutively, as it has made to the top of the same list in 2016 and 2017, it is a great achievement for any company to be in a list of the most loved company by the employees.

Flipkart is one of the most successful startups in India and houses major e-commerce service providers including Myntra, Jabong and PhonePe, in India. It was also credited for having the fairest in working conditions and wages for ‘gig economy’ workers by an Oxford Internet Institute study.

This annual survey of the companies is done globally to determine the top companies to work for in India, Australia, Brazil, China, France, Germany, the U.K, and the U.S., among others. Following is the list of top 25 companies to work with according to LinkedIn:

Flipkart (Walmart) – Internet
Amazon – Internet
Oyo – Hospitality
One97 Communications (Paytm) – Internet
Uber – Internet
Swiggy – Internet
Tata Consultancy Services – Information technology and services
Zomato – Consumer services
Alphabet – Internet
Reliance Industries – Oil and energy
EY – Accounting
Adobe – Computer software
Boston Consulting Group – Management consulting
Yes Bank – Banking
IBM – Information
Daimler AG – Automotive technology and services
Freshworks – Information technology and services
Accenture – Information technology and services
Ola – Internet
ICICI Bank – Banking
PwC India – Management consulting
KPMG India – Management consulting
Larsen & Toubro – Construction
Oracle – Information technology and services
Qualcomm – Wireless

Yashica Vashishtha

Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.

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