Southeast Asia is a region in Southeast Asia.
Indonesia
Singapore\sMalaysia
Vietnam\sThailand
Philippines
Myanmar
India
Greater China is a term used to describe a
Asia’s rest
World
Internet Economy & E-Commerce
Technology
Infrastructure and Real Estate
Services in the Financial Sector
Infrastructure for Social Development
Vivek Sundar, the COO of India’s foodtech startup Swiggy, has resigned. Photo: Livemint
Tarush Bhalla contributed to this article.
1st of July, 2021
According to an internal note written to workers by co-founder Sriharsha Majety, after three years at foodtech unicorn Swiggy, Vivek Sunder, the company’s chief operational officer, will be leaving by the end of October.
Majety will take over and handle the marketplace business immediately following Sunder’s departure.
Majety thanked Sunder for playing a critical role in Swiggy’s growth story in an internal memo.
“On the organizational side, Vivek has been instrumental in instilling large-organization thinking and a consistent focus on scalability in the company. He’s also played a key role in sowing the seeds of profound consumer empathy in the way we think about our products and services, and using it to come up with simple moves that can generate huge changes in consumer perception rather than technically sophisticated solutions […] Vivek will be remembered for his energy, for constantly pushing the envelope in consumer thinking, and for the functional mastery he brought to the table,” Majety added.
Sunder also played a crucial part in increasing Swiggy’s geographical presence, moving the company beyond 500 cities, and in holding down the fort for Swiggy’s on-ground operations during the covid-lockdown, according to Majety.
A copy of Majety’s internal memo delivered to workers on Wednesday was obtained by Mint.
Sunder held the role of managing director for P&G’s East Africa business before joining Swiggy. He has over 20 years of expertise in the fast-moving consumer goods category (FMCG).
Sunder holds a master’s degree in marketing, finance, and economics from the Indian Institute of Management (IIM) in Calcutta.
Rahul Jaimini, Swiggy’s co-founder and former chief technology officer (CTO), departed from the online delivery unicorn in May of last year to co-found Pesto Tech, a career accelerator firm.
Swiggy continues to have Jaimini as a shareholder and board member.
Sunder’s departure comes at a time when the foodtech unicorn’s Instamart service has proven to be a successful incursion into the e-grocery sector.
The foodtech giant raised $800 million in its second Series J round of funding earlier this year, with new investors including Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac, and Goldman Sachs.
The startup was valued at over $5 billion in the financing. It is also in the process of raising $450 million from Softbank, a Japanese conglomerate, which is projected to value the company at $5.5 billion.
The original version of this article appeared on livemint.com.
Swiggy
Every day, you’ll receive articles like these in your email.
Sign up for The Daily Brief, our daily newsletter.
Register for the Newsletter
Related Articles
Food delivery services from Zomato and Swiggy have resumed in Hyderabad.
On the basis of DGP directives, the startups would be operational with restricted food alternatives.
Deals
SoftBank is expected to spend $450 million in a food-tech unicorn in India. Swiggy
The deal will be Masayoshi Son’s first direct investment in India’s foodtech industry.
To continue reading our free content, create an account.
If you don’t want to get The Daily Brief in your inbox every day, unsubscribe.
REGISTER
Do you already have a login? Here is where you may log in./n
Read More
