Snapdeal chief financial officer Aakash Moondhra has quit the company, the second top-level exit from the Delhi-based ecommerce portal in the last two months, reports the Economic Times. Moondhra was instrumental in Snapdeal raising about $1 billion in funding, across rounds, from a clutch of marquee investors, led by Japanese telecom, media and Internet investor giant SoftBank, Singapore’s Temasek and PremjiInvest, the private investment arm of Wipro Chairman Azim Premji. According to a statement released by Snapdeal, Moondhra has resigned to “to pursue his other interests and passions” and he will, however, remain with the company in an advisory role, according to a statement shared with ET.
Earlier in February, Snapdeal Chief Technology Officer (CTO) and Senior Vice President-Engineering Amitabh Misra resigned after about 3.5 years with the e-commerce marketplace. Snapdeal also roped in former Yahoo India R&D Division and Amazon India executive Jeyandran Venugopal in the same month. Venugopal is expected to initially serve an advisory role with Snapdeal’s technology leadership team.
Mobile wallet MobiKwik has announced the appointment of Saurabh Srivastava as Chief Marketing Officer. Saurabh was previously VP – Marketing& Product Strategy at ixigo.com and has extensive experience in media, marketing, retail and branding. In his position as CMO, he will be a part of MobiKwik’s core leadership team. Srivastava brings with him over 13 years of rich experience in consumer centric businesses and has worked with leading consumer and media brands like Goodyear, Maruti Suzuki, Dainik Jagran, GroupM and DDB in the past. Saurabh’s understanding of offline retail will be useful for the company in its bid to get more and more offline retailers to adopt mobile wallets, the company added in its statement.
MobiKwik said that it is making a big offline push this year and recently entered into a partnership with Café Coffee Day to enable customers make payments through the MobiKwik wallet across all outlets in India. It also raised ~$25 million in Series B funding led by Tree Line Asia, existing investor Sequoia Capital along with Cisco Investments and American Express last week.