News @9: Flipkart CFO Sanjay Baweja Quits, Tea Startup Kettlery Raises $1 Million From Abhinav Bindra’s Fund


Flipkart CFO Sanjay Baweja resigns

In continuation of the exodus the homegrown e-commerce giant has experienced in recent past, another high-profile executive has put his papers. Flipkart’s chief financial officer (CFO) Sanjay Baweja, who was a former CFO at Tata Communications has resigned, just under two years after joining the company.

It’s still not clear, why Baweja quit, and who will fill in his role, but the year has been a tumultuous one for the company in terms of exits. In January, the company replaced Sachin Bansal with Binny Bansal as its chief executive officer. The next month, two of its other seniormost leaders, Mukesh Bansal and Ankit Nagori left, to start their own startups. (Source)

Speciality tea startup The Kettlery raises $1 million in funding

Ahmedabad-based The Kettlery, has received $1 million funding from Abhinav Bindra’s Shooting Starts Sports LLP & Franchise India Brands.

The Kattlery which was founded in 2015, offers premium loose leaf teas, tisanes (herbal teas), tea infused beverages, tea brewing accessories, and complementary foods that elevate the loose leaf tea drinking experience to a gourmet affair.

The investment raised will be used to set up over 100 tea boutique outlets in next five years, the company said. (Source)

Price comparison platform Scandid, acquires e-commerce platform Snabar

Pune-based shopping and savings discovery platform Scandid has acquired a local e-commerce startup Snabar for an undisclosed amount.

As part of the deal, Onkar Bhagwat, CEO of Snabar, will join Scandid as a product manager.

Apple Q4 Revenue Down

Apple reports Q4 2016 results with $46.9B revenue, down from $51.5B YoY. Quarterly service revenues stood at $6.3Bn

iPhone sales has dropped to 45.5M from 48M. The company sold 4.9M Macs and 9.3M iPads. Apple Pay transactions are up by 500%. (source).

Google Announces Jamboard, digital whiteboard for collaboration

Jamboard is a 55-inch 4K display that you can use like a typical digital whiteboard. You can sketch out your ideas with a stylus for a small conference room full of coworkers. But what makes it quintessentially a Google product is its cloud connectivity

Google plans to release Jamboard for less than $6,000 in the first half of 2017 for G Suite customers (more).

Next news update: 3 PM.

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