Flipkart delivers $100M Esops to select employees
What's the news?
Flipkart has disbursed a fresh set of employee stock ownership plan (Esops) to its senior and middle-level staff as part of the e-commerce major’s efforts to retain key talent
How much is the stock grant?
The overall stock grants are expected to be in the range of $100 million and were issued to select employees across Flipkart and Myntra-Jabong. Employees who have been allotted these new shares at a price of $125-130 per unit, will see 25% of their stock vest after a year following which, monthly vesting will continue for three years. Read more.
Google Pay to go beyond UPI
What's the news?
Google Pay, which offers UPI payments in India, is expected to soon offer Indian consumers the option to pay through debit or credit cards saved on the platform.
What are they doing?
Google is bringing in a single software development kit (SDK) for merchants and developers, so that consumers can make payments across platforms through the Google Pay application. Hence, going forward, they will be able to use Google Pay to make payments via their credit cards, gift cards or other instruments. Read more.
Upstox in talks for $25M funding
What's the news?
Mumbai-based stock broking company Upstox is in talks with investment firm Tiger Global Management for a $25-million funding round
What does it do?
Upstox is a discount broking firm which leverages technology to allow innovative investment options for its users. It is backed by Ratan Tata and Kalaari Capital. Read more.
Uber prices its IPO offering
What's the news?
Uber has priced its public offering at $45 per share, valuing the ride-hailing giant at about $82.4 billion. It has raised $8.1 billion from the IPO.
What's the significance?
It is an underwhelming result for the most anticipated IPO since Facebook’s market debut seven years ago. This IPO comes against a backdrop of turbulent financial markets, fueled by the trade dispute between the United States and China, as well as the plunging share price of rival Lyft. Read more.
New Shopfloors, driven by technology
What's the news?
Indian shop floors are going smart. Manufacturing, a typically labour-intensive process, is adopting technology to boost productivity and save costs
What are others doing?
Consumer goods makers have adopted Internet of Things to track processes and deployed robots on the shop floor. Automakers are using augmented reality or virtual reality to train employees, especially those working on complex processes. Read more.