While Rao “stepped down” from his role of chief executive in July and was supposed to work with the board for hiring a new CEO, he has now left Dealshare even as the company has yet to name his successor, several people aware of the matter said. Bora, who was chief operating officer, has also moved on from the company which is now shifting its non-tech functions to Gurgaon.
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The layoffs come roughly one-and-a-half months after Vineet Rao stepped down as Dealshare’s chief executive. The company had earlier decided to shift its headquarters North, which is where most of its business comes from.
Ecommerce platform Dealshare has sacked 130 employees and shut down its business-to-business vertical, just over a month after Vineet Rao stepped down as chief executive.