Shrivastava will be the fourth senior exit from the e-commerce major since September last year. Earlier this month, the company said that its group CFO Aditya Pande has decided to move on from the organisation. Last year, Udaan’s CTO Gaurav Bhalotia and Vivek Gupta, the head of essential categories transitioned from the company.
Udaan s FMCG business head, Vinay Shrivastava, has resigned amid a series of senior exits at the B2B e-commerce firm. Shrivastava, with nearly four years at Udaan, contributed to significant growth in market share and business. Udaan is restructuring its teams and business verticals, merging essentials with discretionary business. Shrivastava s departure follows the exits of the group CFO and other senior executives since September 2023. The company recently raised $340 million in Series E, but its valuation reportedly fell to around $1.8 billion in a down round.
Some of the world’s biggest private equity firms, asset managers, pension funds and sovereign wealth funds are now sitting on a steep loss on their ..