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Arvind Singhal appointed as BlueStone COO

Arvind Singhal

Arvind Singhal, who resigned as the CEO of TaxiForSure in July, has joined online jewellery retailer BlueStone as COO, reports VCCircle. Singhal was appointed CEO of TaxiForSure when it was acquired by Ola in March for $200 million, but worked as its COO before he was elevated as CEO. At BlueStone, Singhal will report to the company’s founder and CEO Gaurav Singh Kushwaha.

Prior to TaxiForSure, Singhal worked as the Director of Operations at McDonald’s India for the south region. He was also the director of marketing, public relations and corporate communications at McDonald’s India from March 2009 to April 2010. Before that, he has worked as a product manager at Nokia for a year, and at Asian Paints and Marico.

Previous BlueStone funding
Last month, BlueStone raised $16 million in a round of funding from Ivy Capital and Dragoneer with participation from existing investors Accel Partners, Kalaari Capital and Saama Capital. BlueStone would use the funding for marketing and expand its team of 150 to 250 staffers.

BlueStone had previously raised an undisclosed amount from Ratan Tata in September last year. It had also raised $10 million in investment in March, from Kalaari Capital, Accel Partners and Saama Capital. Prior to this, BlueStone had also raised $5 million from Accel Partners and Portea Medical CEO Meena Ganesh in January 2012.

BlueStone was founded by Vidya Nataraj and former Chakpak.com CEO Gaurav Kushwaha in mid 2011. It currently offers jewellery products like rings, earrings, pendants, bangles and necklaces among others, made from silver, gold, diamond and gemstones etc. Other than this users can order ‘collections’ or sets of jewellery, gifts and gold coins on the platform.

The platform also features a shopping assistant, an automated guide to pick jewellery based on occasion, personality or face shape. Interestingly, BlueStone offers a Home Try-On option, that lets users select the products they like, book an appointment for a visit, and try the jewellery at home. Currently, this feature is available in around 15 cities including Delhi, Mumbai, Bangalore, Hyderabad and Pune. As of now, the company claims to have a revenue run rate of Rs 80-100 crore per annum and to be operationally profitable.

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