Eternal CEO transition: Zomato founder Deepinder Goyal gives up Rs 1,000 crore in stock options; what it means for shareholders

Eternal CEO transition: Zomato founder Deepinder Goyal gives up Rs 1,000 crore in stock options; what it means for shareholders

Billionaire founder Deepinder Goyal has relinquished over Rs 1,000 crore worth of unvested employee stock options (ESOPs) at Eternal, marking one of the most significant founder-led governance moves seen in India’s listed internet sector in recent years.The decision comes alongside a leadership transition at the food delivery and quick-commerce major, with Goyal stepping down as…

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Reliance says JioMart is on track to be No. 2 in quick commerce

Reliance says JioMart is on track to be No. 2 in quick commerce

BENGALURU: Reliance Industries on Thursday said JioMart is on track to become India’s second-largest quick commerce player, underscoring intensifying competition among rapid-delivery platforms even as rivals await their latest quarterly results.In its earnings presentation, Reliance said JioMart’s hyperlocal commerce business recorded a daily run-rate of about 1.6 million orders during the December quarter. Online average…

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Quick commerce branding reset: Flipkart, Swiggy, Zepto stop using ‘10-minute delivery’ tagline; govt order cited

Quick commerce branding reset: Flipkart, Swiggy, Zepto stop using ‘10-minute delivery’ tagline; govt order cited

Walmart-owned Flipkart, Swiggy and IPO-bound Zepto have stopped promoting their grocery businesses as “10-minute” delivery services following a government intervention prompted by road safety concerns, according to a Reuters report.The move comes after the labour ministry, at a private meeting on Saturday, asked some companies to discontinue the “10-minute” branding amid concerns over rash driving…

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