Flipkart slashes office space deal in Bengaluru by over 70% Avik Das span John Sarkar Flipkart has substantially scaled down its need for a huge office space in Bengaluru, which it leased almost two years back, as e-commerce companies in the country struggle to find new avenues of growth and raise fresh funds amid sharp cuts in their valuations. India's biggest e-commerce company is now looking to lease just 0.83 million sqft office space. The initial agreement was for 3 million sqft from southern property developer Embassy Group, which was subsequently downsized to 2 million before the company finally decided on the current lease deal. The deal was originally struck when the funding boom was at its peak. At the time, it was the country's single largest office lease deal. Flipkart has not raised funds in the past 18 months, even as it defends its leadership position in a bruising marketplace war with Amazon. The lease, which is for 20 years, would see Flipkart pay Rs 50 per sqft, which translates into an annual rent of about Rs 50 crore.

It had initially planned to move all its operations from multiple offices to one location at Embassy Tech Village, which also houses companies such as US bank Wells Fargo. Embassy Office Parks chief executive Mike Holland confirmed the development, but denied there was a dispute between the two companies. “We have had conversations with them and see this as another normal part of any business, which provides opportunity for us to add some more space into the mar ket at a time when there is not so much available,“ Holland said. Nitin Seth, Flipkart's COO, said, “Our requirement for office space has naturally multiplied many folds over the years, in line with the company's growth. We believe the arrangement gives us ample room to expand in future, especially since it represents an expansion of 35% compared to the space we currently occupy across all our offices in Bengaluru.“ Flipkart, which is undergoing a restructuring drive, is looking to cut and trim losses. The rework in Flipkart's strategy comes as the startup environment in India is clouded with uncertainties.

Sources said Embassy threatened legal action against the company for wavering on its pre-commitments though the issue was resolved. A destination for all things startup & technology in India. Startup Fundings Editor's Picks › ISRO demonstrates solar hybrid electric car made of in-house resources Cognizant profit up 26% to $557M in Q1; Network18 joins Times Internet's Colombia Audience Network The big vision is to become an electric vehicle nation by 2030: Chetan Maini BitcoinGrowthFund raises over $2M through its first ICO CRON Systems driverless truck to help Indian army in hostile locations Sachin Tendulkar-backed Smartron to raise Rs 250 Cr for expansion Coursera appoints Raghav Gupta as India Country Director Apple India revenues grew by strong double digits: CEO Tim Cook Nasscom appoints Somdutta Singh as co-chair of its Product Council 2017 Other B2B News Sites › Retail News Marketing & Advertising News Used & new (3) from $514.23

Ships from and sold by OfficeDesigns. Zody Chair by Haworth: Highly Adjustable 4-D Arms - Lumbar Support - Back Stop - Forward Tilt - Pneumatic Lift - Black Fabric Seat/Back/Basehair salon chairs and basins Black Frame/Black Mesh Fabric Seathair salon chairs and basins Buy "Zody Chair by Haworth: Highly Adjustable 4-D Arms ...� from Amazon Open-Box & Used and save 65% off the $1,500.00 list price. wedding chair covers hessian Highly ergonomic and a sustainable design, Haworth Zody is the only chair to be endorsed by the American Physical Therapy Association for science-based comfort and the first task chair to be certified Cradle to Cradle™ Gold. chairs for hire worcester

Zody is extremely sitter-friendly and versatile in fulfilling numerous roles throughout the office. Engineered and manufactured in the U.S. to enhance a broad range of office environments, Zody's sleek profile complements a variety of furniture styles. tolix style chair cushionsFeatures: • Form Follows Science: A high-performing task chair, Zody blends science-based wellness and comfort with sustainability and international design. chairs to hire in johannesburgThe product of extensive research and development, only Zody offers asymmetrical lumbar adjustments, providing user-selected support on each side of the lower back. french script chair pads• Built with Sustainability in Mind: Designed using the MBDC Cradle to Cradle™ protocol, Zody is assembled using 100% renewable power, contains up to 51% recycled content and is up to 98% recyclable. rocking chair for sale oxfordshire

Zody is GREENGUARD® Children & Schools Certified and chrome and PVC free. • Design: Fully adaptable, Zody goes from task chair to conference room to CEO’s office. zero gravity chair for tall manAn engineering marvel, patents are pending for 16 new inventions that make Zody a remarkable investment in a mid-priced task chair. • 4-D Arms: Unique 4-D arms provide a four-way adjustment level for enhanced support — in/out, forward/backward, up/down and pivot left/right. • Control: Individual control is achieved through easy to reach, labeled adjustments including a threepoint tilt mechanism, multiple position back-stop and forward tilt. Zody is designed to accommodate 95% of the user population. 29 x 29 x 40 inches 3.0 out of 5 stars #895 in Office Products > Office Furniture & Accessories > Chairs & Sofas > Desk Chairs 58 pounds (View shipping rates and policies)