Flipkart, one of India’s leading online marketplaces which has revolutionized the concept of shopping in India has fallen in trouble again. With two more top executives Lalit Sarna and Sunil Gpinath waving final bye to the company last week, it has added more pain to the etailer’s agony.
Both the executives are considered as the most valuable assets to the company with Sarna leading the payments product design and Gopinath handling the technology segment. According to experts, this can prove a big setback to the company with its competitors such as Amazon and Snapdeal ramping up their operations for the upcoming festive season. Gopinath, as the technology lead for the marketplace business, was in charge of initiatives such as building products for the marketplace division, including helping merchants list on the platform and monitoring their performance.
Recently, the company has reorganized its top-positions to reduce its expanses and to increase its profit slab. Its decision of revamping its top positions was not welcomed by some of the senior executives, resulting the exit of chief product officer Punit Soni in April. Currently, the company is headed by Binny Bansal.
One of the sources revealed that the initiatives that are product-driven like image search are being scrapped and business-led launches including exchange days and advertisements have been given priority. As a result, senior managers once hired to lead new product development are choosing to leave the company.
Sarna, hired last year by Soni, a former Google executive, was an entrepreneur who sold his luxury home decor company Style Ashram to join Flipkart as head of the payments and transactions business.