Razorpay acquires PoshVine💰; CSO is helping other startups🧑🏻💻; Reliance shelves marketplace plan🙅🏻♀️
Razorpay enters rewards management space, CSO is helping other startups to hire, Reliance shelves ecommerce marketplace plan, Funding Deals and more.
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Market Watch 📊:
US:
S&P 500 - 3,647.29 down 0.21%
Nasdaq - 10,829.50 down 0.25%
India:
Nifty 50 - 16,902.85 down 0.63%
Sensex - 56,763.61 down 0.60%
Razorpay enters rewards management space with PoshVine acquisition💰
Digital payments and financial services platform Razorpay has acquired loyalty management platform PoshVine for an undisclosed amount and forayed into the loyalty and rewards management space.
This is Razorpay’s fourth acquisition this year and the seventh overall. It comes close on the heels of its $200-million acquisition of offline point-of-sale (PoS) firm Ezetap in August this year.
Under the deal, PoshVine’s 36-member team will join Razorpay and operate its loyalty and rewards vertical. With this acquisition, Razorpay is expected to help banks increase customer retention for their credit offerings through new merchant offers.
Bootstrapped startup CSO is helping other startups to hire🧑🏻💻
CSO is a search firm focused on providing customized solutions to clients with hiring from entry-level to mid and senior segments. The CSO team comprises experienced search professionals with excellent business and search career credentials.
CSO is known for its superior domain knowledge, and deep entrenched networks and relationships. They have successfully served multiple clients with hiring across entry/mid/CXO/senior level, team build-outs, and specialized business leaders across domains.
CSO is an expert in finding appropriate talent according to client requirements from their talent pool within 24 hours of getting the requirement. They have completed the hiring process with onboarding for the position in the range of 24 hours to 1 week.
"Talent acquisition is critical to the growth and success of the organization, and the demand for tech talent in India has been increasing dramatically. There is a lot of potential and scope, especially given the new wave of startups and companies from around the world establishing delivery centers in India," says CSO Founder and CEO Sanjay Sinha.
Hot Shorts⚡
Biomedical molecular data company Elucidata has raised $16 million in a Series A funding round led by Eight Roads Ventures.
Pizza chain Cheelizza has raised Rs 4.11 crore in seed funding round led by Indian Angel Network (IAN) investors Hari Balasubramanian, Uday Chatterjee, Deval Tibrewal, and Rajeev Sarda.
Design focused retail brand, Chumbak has raised Rs 3 crore through revenue based financing platform Klub.
Reliance shelves ecommerce marketplace plan for third-party sellers🙅🏻♀️
Reliance Industries has shelved its plan to have a separate ecommerce marketplace for third-party sellers and, instead, integrated thousands of independent sellers into its existing platform JioMart.
The Mukesh Ambani-led company is now building JioMart as a full-fledged marketplace with a presence across categories to take on market leaders Amazon and Flipkart.
The company was building JioMarket as a separate entity for third-party sellers to comply with the draft ecommerce policy which prohibits marketplace operators from having related parties or associated enterprises as sellers on their platforms.
JioMarket was expected to go live before this Diwali.
Tweet of the day🐥
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"Be strong now, because things will get better. It might be stormy now, but it can't rain forever."
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