Updated: Jabong has informed us that it recently appointed Sumit Jain as its CTO to replace Sachin Sinha who had joined only in March this year. Additionally the company has appointed Saurabh Goel as the chief product officer.
Earlier today: Jabong has appointed Saurabh Srivastava as the chief marketing officer, reports afaqs. In his new role, Srivastava will work based out of Delhi, and will replace Praveen Sinha, founder and MD of Jabong. Prior to Jabong, Srivastava held the same role at Mobikwik.
Srivastava brings with him over 13 years of 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. Prior to Mobikwik, he was the VP – Marketing & Product Strategy at ixigo.com and has experience in media, marketing, retail and branding.
In March, Jabong appointed Sachin Sinha as its chief technology officer. Sinha was to replace former CTO Harsh Kundra, who had left the company in January this year to join Tolexo Online. In his new role, Sinha would be heading Jabong’s new technology initiatives and be based out of Bangalore.
In June, the company appointed Jai Vohra to head women’s fashion at the platform, replacing Manjula Tiwari. Vohra is also the director and business head for Jabong’s marketplace, before which he was the director of projects for two years.
Jabong financials : Jabong reported revenues of Rs 410.69 crore in the first half of the year ended June 30, showing a growth of 26.5% from Rs 324.65 crore in the same period last year. The company also reported a gross merchandise value of Rs 719.69 crore a growth of 41.3% y-o-y from Rs 509.48 crore.
Acquisition by Paytm : It was reported last month that Global Fashion Group (GFG) which owns fashion etailer Jabong, was in talks with Paytm to sell the company. AB Kinnevik was also reportedly holding negotiations on behalf of Rocket Internet and the talks were in initial stages with the company being valued at around $500- 800 million.