A year after Flipkart hired txtweb co-founder Manish Maheshwari as VP and Head of its Seller ecosystem, Maheshwari has quit the company, reports Business Standard. At Flipkart, Maheswari looked after seller acquisition, enablement and growth and strengthening the seller ecosystem team.
Maheshwari has joined Network18 as the CEO of Web18, where he will lead digital and ecommerce assets, audience growth, content monetisation, business development, inorganic growth, mergers & acquisitions and product management, according to his LinkedIn profile. Maheshwari is an alumnus of Intuit, McKinsey & Company and Procter & Gamble other than being a mentor and investor with Ivy League Alumni Angel Network.
Web18 overlooks sites like Moneycontrol, IBNLive, In.com, News18 and Firstpost, BookMyShow, HomeShop18 and Burrp.
Flipkart’s recent reshuffle and exits: A month after a top deck reshuffle at Flipkart, Mukesh Bansal, the head of commerce division and Myntra chairman quit the company last month. Chief business officer Ankit Nagori too put his papers down. Bansal would be an advisor to the company, while Nagori had plans to go the entrepreneur way. In January, Flipkart named named Binny Bansal as the new chief executive officer while Sachin Bansal took on the role of executive chairman. At the time Mukesh Bansal was also given the added responsibility of Flipkart’s ads business.
75 million users: Earlier this month, Flipkart claimed to have crossed 75 million registered customers since its launch. The company also said that its Android app recently hit the 50 million installs landmark. Over 50% of its traffic comes from non-metro cities, with Tier II and Tier III towns showing a greater rate of adoption than larger cities.
Network18’s CEO moves to advisory role: In September 2015, AP Parigi, Network18 Group CEO moved to an advisory role in the group. Parigi moved to the advisory role from October 2015. He was appointed Group CEO of Network18 in January 2015 – so this was a rather quick move for him. Network18 claims to see 225 million TV viewers and 25 million unique digital visitors monthly.
Network18 financials: In January, we reported that Network18’s web business had revenues of Rs 14.46 crore, a decline of 4.49% from Rs 15.13 crore in the same quarter last year, but increase of 9.96% from Rs 13.15 crore in the preceding quarter. The segment reported a loss of Rs 4.20 crore compared to the loss of Rs 11.68 lakhs in the same period last year. In the preceding quarter, the segment reported a loss Rs 3.36 crore.