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Flipkart’s chief product, technology officer Jeyandran Venugopal to exit

Flipkart’s chief product, technology officer Jeyandran Venugopal to exit


E-commerce major Flipkart’s chief product and technology officer Jeyandran Venugopal is set to depart from his position due to personal reasons, according to sources.

Venugopal, who has spent eight years in the group, has overseen multiple positions including product management, design, user research and others. Apart from that, he also led several business and P&L functions in the company including the overall platform growth and revenue function, customer and traffic program, including the Performance Marketing function, Loyalty Program P&L and the company’s Ads Business.

He will transition out of his role over the next three months, during which Flipkart will identify the right candidate for the job, sources added. The company is evaluating senior executives internally to fill the vacancy.

This comes at a time when the company has been streamlining operations. Last year, Flipkart’s VP and Fashion head Arief Mohamad quit and Myntra’s CEO Nandita Sinha took over operations.

Last year, Flipkart raised around $350 million from tech giant Google in its $950 million round, at a valuation of $36 billion, reported businessline.

The company is preparing to shift its domicile back to India from Singapore ahead of a planned domestic IPO.

Walmart owns 80.5 per cent in Flipkart following the exits of early investors like Tiger Global and Accel, with Flipkart co-founder Binny Bansal also fully exiting the firm by selling his remaining shares to Walmart. Walmart paid $3.5 billion to acquire stakes from non-controlling minority shareholders.

Sachin Bansal divested his entire 5 per cent holding in Flipkart to Walmart for about $1 billion in 2018 at the time of its acquisition by the US retail giant.

Canada Pension Plan Investment Board (CPP Investments), the Singapore government’s sovereign wealth fund GIC, Japan’s SoftBank Vision Fund 2, and Qatar Investment Authority (QIA) are among Flipkart’s other existing investors.





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