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OLX India drives growth in pre-owned goods market: CEO Amit Kumar
Livemint
·
1y ago
Medial
Indian online auto classifieds platform CarTrade Tech acquired OLX India operations last year, leading to a significant increase in its user base. With over 70 million active users, CarTrade Tech's acquisition of OLX contributed more than 35 million unique users. OLX is expanding its focus across various categories, including real estate, jobs, cars, consumer durables, and smartphones. The pre-owned goods market in India is expected to grow rapidly, driven by factors such as increasing internet penetration and consumer awareness around the circular economy. Online marketplaces are also incorporating advanced payment and logistics solutions to enhance user experiences.
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OLX India CEO Amit Kumar Resigns
Inc42
·
9m ago
Medial
CarTrade Tech Limited announced the resignation of Amit Kumar as Managing Director and CEO of Sobek Auto India Private Limited, which operates as OLX India. His resignation will take effect on January 31, 2025, as he seeks new career opportunities. CarTrade informed the BSE and NSE about the change, highlighting that Vinay Sanghi, OLX India's Chairman, and the executive team will ensure a smooth leadership transition.
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CarTrade to buy OLX Autos' India business for ₹537 crore
Inshorts
·
2y ago
Medial
CarTrade Tech has revealed its purchase of Sobek Auto India, the entity that encompasses OLX India's automotive sales section, in a deal valued at ₹537 crore. The agreement will be conducted entirely in cash, and the acquisition is expected to conclude within a month. OLX, owned by Prosus, had previously chosen to withdraw from the OLX Autos sector in various countries, including India, in March of this year.
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Wipro hires Accenture executive Amit Kumar as global head for Consulting
Economic Times
·
5m ago
Medial
Wipro has appointed Amit Kumar, a former Accenture executive, as its new Managing Partner and Global Head of Wipro Consulting. Based in New York, Kumar will report to CEO Srini Pallia and join Wipro's Executive Board. He will focus on driving consulting-led, AI-powered growth. Kumar brings over 24 years of experience across regions and various industries. This appointment is part of Wipro's strategy to stabilize leadership after several senior-level departures and elevate internal talent.
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Amazon appoints Samir Kumar as head of India operations
Entrackr
·
10m ago
Medial
E-commerce major Amazon has appointed Samir Kumar as the country head for India. Kumar will continue to lead Amazon’s consumer businesses in the Middle East, South Africa, and Turkey. Kumar will replace Manish Tiwary, the head of Amazon’s India operations, who left the firm to pursue an opportunity outside of the company in August this year. Amit Agarwal, who is the vice president of Amazon India, will now oversee India operations alongwith Kumar. It’s worth noting that the duo had already worked together in the past. The appointment coincides with Amazon India’s plan to foray into quick commerce market. The e-commerce giant plans to enter the space, currently dominated by the likes of BlinkIt, Zepto and Instamart, in the first quarter of 2025.
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Paytm appoints gulf fintech veteran to run middle east biz
YourStory
·
2m ago
Medial
Paytm's parent company, One97 Communications Ltd, has appointed Ramana Kumar as CEO for its Middle East operations to drive international expansion amidst heightened competition in India. With over 20 years in the Gulf banking and fintech sectors, Kumar will lead Paytm’s growth in the UAE and the broader Middle East. The company aims to leverage its India-refined technology to cater to increasing digital payment demands and achieve international scaling beyond its home market.
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CarTrade completes acquisition of 100% stake in OLX India's Sobek Auto
Startup News FYI
·
1y ago
Medial
In a significant move within India's used cars industry, CarTrade has successfully acquired a 100% stake in Sobek Auto India Private Limited, which encompasses the OLX classifieds platform and OLX Autos C2B transaction businesses. The deal, announced a month ago, marks the culmination of an extensive process involving Prosus, the owner of a 99% stake in OLX, engaging with multiple parties for the sale of its India operations.
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Everstone-backed Translumina hires former Medanta exec as CFO
VCCircle
·
6m ago
Medial
Integris Health Pvt Ltd, backed by Everstone Capital, has appointed Sanjeev Kumar as the group CFO. Kumar, previously with Medanta, brings over 30 years of finance experience, including leading India’s largest hospital sector IPO. He will report to CEO Probir Das and be based in New Delhi. Integris, which manufactures cardiac stents and medical devices under Translumina Therapeutics, operates across India and internationally, and recently raised Rs 375 crore for pre-IPO funding.
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EXCLUSIVE | Amit Jain's investment strategy in Shark Tank India
Livemint
·
1y ago
Medial
Amit Jain, co-founder and CEO of CarDekho, discusses his role as a judge on Shark Tank India Season 3 and his motivation to nurture young talent and promote entrepreneurship in India. He advises aspiring entrepreneurs to focus on customer-centric solutions, adapt to market challenges, and maintain their original purpose and vision. Jain evaluates startups based on the entrepreneur's journey and passion, as well as the market opportunity and sustainability of the business idea. He also emphasizes the importance of guiding and mentoring startups beyond financial investment to support their growth and success.
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India fastest-growing office for Palo Alto in last five years: CEO Nikesh Arora
Economic Times
·
1y ago
Medial
Palo Alto Networks, a leading cybersecurity provider, has experienced significant growth in its stock and revenues due to the increasing demand for cybersecurity products globally. CEO Nikesh Arora highlights India as the company's fastest-growing office, with a highly qualified talent pool and a booming technology market. Arora also emphasizes the expanding attack surface, which drives the need for cybersecurity, and the continuous arms race between cybercriminals and the defenders. Cybersecurity remains a prioritized investment for companies, even in challenging economic times.
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Kumar Venkatasubramanian appointed new CEO of P&G India
Thehindubusinessline
·
1y ago
Medial
Kumar Venkatasubramanian has been appointed as the CEO of P&G India, starting from May 1, 2024. With nearly 24 years of experience, Kumar has previously served in various roles within P&G, including leading the sales team in India until 2020. Currently, he is the CEO of P&G Australia and New Zealand. The outgoing CEO, LV Vaidyanathan, will be leaving the company after 28 years of service. Kumar's goal is to continue P&G India's growth momentum by focusing on daily use products and enhancing the brand's overall strategy.
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