The siren of entrepreneurship in eCommerce space is pacing up sturdily these days. Many C level executives from a lot of these online firms are quitting their jobs to start their own venture. Be it Rahul Yadav from Housing, Amitabh Misra from Snapdeal or Swaminathan Seetharaman from Ola, all of these executive believes that they too can make big returns from India’s exceptional startup boom.
Recently the homegrown eCommerce major Flipkart on Wednesday came up with an important announcement saying one of the three Bansals (Mukesh), who was the head of commerce and advertising business, along with its chief business officer Ankit Nagori have put down their papers. These departures at Flipkart, comes weeks after a massive organizational restructuring that made Binny Bansal (co-founder), the CEO of the company.
However, Mukesh will continue with Flipkart for 2 more months and have planned to take a break for a while before launching his startup. He has resigned from Myntra too, the company that he founded in 2007.
Commenting on the same, Binny Bansal, CEO, Flipkart, said, “Mukesh will continue to be an adviser to Flipkart and Myntra, besides me and Sachin (Bansal) personally. He has been one of the best leaders that I have had the privilege to work with."
When asked about what his new venture is going to be, Mukesh, the fitness enthusiast, said he has not decided on what segment of business he is going to focus on, but it could be in technology space. As of now, he wants to spend time with his family, catch up on reading and travelling for the new few months.
Anil Nagori is venturing into a sport talent development firm and Flipkart founders, Sachin and Binny Bansal are likely to be the first investors in the company. Anil will stay till the first quarter and the hunt of his replacement, internally & externally, is on.
“Ankit joined us six years back as a 24-year-old. He has been our go-to guy for all our biggest new initiatives. He is an entrepreneur at heart. He is also passionate about public service. His new venture is at the crossroads of entrepreneurship and public service in the sports talent development space,” said Binny.
These high-profile exoduses in the company is surely a big reason to worry as it competes directly from the likes of Snapdeal, Amazon, Paytm and others for supremacy in India’s eRetail space. Despite claiming a pole position in the market, Flipkart has definitely lost some of its gleam in the recent past.
The company is under sheer pressure of growing eCommerce challenges, discount disdaining, investor’s pressure to cut down losses and many others. Even the Chinese conglomerate, Alibaba is looking to buy Flipkart stake (Indianretailer reported earlier). With so much happening here, it will be interesting to see how Flipkart manages to take on the risk of too much too soon.
Indianretailer wishes good luck to both Mukesh and Anil for their upcoming ventures and a smooth voyage ahead.