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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Ousted Yahoo CEO Scott Thompson leading new Amazon-like startup

Tuesday - Dec 18, 2012, 02:51pm (GMT+5.5)
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Ousted Yahoo CEO Scott Thompson leading new Amazon-like startupWashington -  Former Yahoo chief executive Scott Thompson, who lost his job earlier this year when it turned out he didn't earn the computer science degree on his resume, is now leading a new startup.

The San Jose Mercury News interviewed Thompson about his new role as the CEO of e-commerce startup ShopRunner.

The company offers Amazon-like shipping services and Thompson described it as "Amazon Prime for everybody else."

According to the Washington Post, ShopRunner is two years old firm and it has 60 employees.

Thompson told the Merc, he was fascinated at the challenge of growing the company into something big.

Online firm eBay, owner of PalPal, which Thompson used to run, owns a stake in ShopRunner, the paper said.

Thompson didn't receive severance from Yahoo, but he did get 7 million dollars in "walking-away money," according to the Merc.


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