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.
Hiveloop Capital, the NBFC subsidiary of business-to-business e-commerce unicorn Udaan recorded a decline in its revenue for FY23, even as its operating metrics improved because ..
Swiggy s largest investor Prosus is likely to be tagged a promoter in the company as plans for trimming stake ahead of an IPO havent materialised. Details of this and more in today s ETtech Morning Dispatch.
Lightspeed Venture Partners, a venture capital firm that has backed Indian startups like Sharechat, Oyo, and Udaan, announced the appointment of Vivek Gambhir and Kevin Aluwi as venture partners. This move comes as Lightspeed strengthens its team in India and Southeast Asia, following the focus of other local and global peers on the region.