Deferred by Flipkart, These IIM-Graduates Could Find Solace With Paytm, Amazon and Other Startups

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Will be used in accordance with our Privacy Policy
Deferred by Flipkart, These IIM-Graduates Could Find Solace With Paytm, Amazon and Other Startups
Image credit: Shutterstock
Entrepreneur Staff
Former Staff, Entrepreneur India
2 min read

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Students, whose placements have been deferred by Indian unicorn Flipkart, could be recruited by other e-commerce giants. According to a report by a leading English daily, Paytm and U.S. retail giant Amazon are keen on hiring the graduates who were earlier offered jobs by Flipkart, but were later asked to wait.

Amazon’s HR head told the English daily that the company is open to hiring those students as it also continues to have its own hiring process on schedule.

Flipkart, which has been one of the favourite recruiters at ivy-league colleges in India, had announced a compensation of 1.5 lakh for every deferred placement. The institute felt it was too little for a six-month delay in on boarding.

Startups have been approaching the institute on the lookout to hire those who have already been screened and filtered by Flipkart. It would be a matter of concern if Flipkart’s rivals and smaller peers will be able to match the pay and job-profiles offered by the unicorn.

Professor Asha Kaul of IIM Ahmedabad said that there are ongoing talks with startups regarding their placements, but declined to give out names as nothing has been officially materialized as of now.

“There were 18 students and the jobs offered by Flipkart were good positions that matched the expectations of the students,” Kaul said.

Markdowns, job cuts and more

The deferring of placements by the Indian unicorn came along with a second mark down in its valuation by Morgan Stanley last week, leaving the industry with speculations about the company losing its sheen to rival Amazon.  According to Fazal Ahad, Director at Merisis Advisors, the markdowns, which is regularly practiced by mutual fund investors, could hint at increasing competition from U.S. retail giant Amazon and subdued funding scenario.

The e-commerce space has been bitten by a string of markdowns and funding down rounds.  Rival Snapdeal is also looking to slash a couple of hundred jobs by putting their employees of the company’s “performance improvement plan,” thereby forcing them to quit.


More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur

Entrepreneur Media, Inc. values your privacy. In order to understand how people use our site generally, and to create more valuable experiences for you, we may collect data about your use of this site (both directly and through our partners). By continuing to use this site, you are agreeing to the use of that data. For more information on our data policies, please visit our Privacy Policy.