Top 10 Indian Tech news of the week
Here’s a recap of what made the Tech world tick during the week.
- 1 Microsoft unveils Microsoft Office 2013
- 2 Infosys in the news: New office for Apple outsourcing work, 8000 employees quit in April-June 2012
- 3 Microsoft posts loss for the first time since going public
- 4 Indian government sets aside Rs. 30,000 crore for start-ups in IT apps, hardware and electronic goods
- 5 Facebook makes yet another talent acquisition as it acquires Acrylic
- 6 Reliance Communication puts off IPO of Singapore arm Flag Telecom amidst adverse market conditions
- 7 Yahoo hires new CEO Marissa Mayer with a salary package of $70 million
- 8 Flipkart.com hikes minimum free delivery order amount by 50%
- 9 Google collaborates with NIIT to launch Google Web Academy in India
- 10 HCL clinches $200 million outsourcing deal for Citibank
Microsoft unveils Microsoft Office 2013
CEO Steve Ballmer unveiled Microsoft latest office package, Microsoft Office 2013. In a move that was eagerly awaited by industry experts and users alike. He described it as ‘beyond magical’. The new office suite features a revamped interface with touch features, seamless cloud access and many other changes that boost interactivity and user friendliness.
Infosys in the news: New office for Apple outsourcing work, 8000 employees quit in April-June 2012
Infosys was in the news for all the wrong and right reasons. ET reported that Infosys was setting up a 1.4 lakh sq ft office which will be dedicated to employees working for Apple. The office will reportedly house more than 1,400 employees. On the flip side, attrition rate jumped more than 30% as more than 8,000 employees quit in the 3 months up to June 2012.
Microsoft posts loss for the first time since going public
Driven by a failed online unit, Microsoft posted its first ever net loss as a public entity in 26 years. The announcement comes at the back of a $6.2 billion write-off seen in its online unit which included the acquisition of a digital ad agency a few years back.
Indian government sets aside Rs. 30,000 crore for start-ups in IT apps, hardware and electronic goods
Department of Electronics and IT announced that it has set aside Rs. 30,000 crore in subsidies and incentives for start-ups setting up manufacturing units for electronic goods and IT hardware. Additionally, the incentives could also be utilized for development of apps for mobile phones and tablets.
Facebook makes yet another talent acquisition as it acquires Acrylic
Facebook announced that it acquired the talent behind Canadian firm Acrylic. In this deal, the social networking giant only bought out the talent, Dustin MacDonald, the one man show behind Acrylic and not its popular apps. On working with Facebook, MacDonald said "I discovered that we shared many of the same core product design goals and principles."
Reliance Communication puts off IPO of Singapore arm Flag Telecom amidst adverse market conditions
Adverse market conditions were blamed as Reliance Communication delayed the IPO of Flag Telecom, its Singapore arm for undersea cabling. RCOM had aimed to raise in excess of $1 billion from the IPO which has now been put on indefinite hold until it sees ‘supportive market conditions and easing of prevailing global uncertainties’.
Yahoo hires new CEO Marissa Mayer with a salary package of $70 million
In an attempt to turn around its fate, Yahoo took the Tech world by storm this week as it announced hiring the youngest CEO a Fortune 500 company has at the moment, 37 year old Marissa Ann Mayer. ET reports that Mayer’s salary package will be in excess of $129 million if she is able to meet growth targets. This includes a $1 million annual base salary, $12 million in stock payment, $30 million in retention equity award over 5 years and potential yearly $4 million bonus amongst other variables.
Flipkart.com hikes minimum free delivery order amount by 50%
Flipkart announced a 50% hike in its minimum amount for free delivery from Rs. 200 to Rs. 300. VP Ankit Nagori said "This impacts less than 15% of our customers. However, it gives us much larger efficiencies in our supply chain and we will be to pass on more benefits to our customers after this change. The charge for shipping for orders below Rs 300 remains same as earlier at Rs 30" reported ET.
Google collaborates with NIIT to launch Google Web Academy in India
Google and NIIT have introduced the Google Web Academy in India. The main aim of this initiative is to provide digital training to young professionals and students in India due to the growing demands of the online industry. By offering specialized courses, this program aims to fill the gap in digital skills in the Indian workforce.
HCL clinches $200 million outsourcing deal for Citibank
The BPO section of HCL Technologies will service an outsourcing contract for Citibank which is said to be worth $200 million. This outsourcing contract for Citibank will require HCL to manage back end services for the bank’s financial products and customer service. 800 new employees are expected to be hired for the same.