One of India’s leading online marketplaces, Snapdeal has hired Vijay Ghadge as its new COO of its captive logistics unit Vulcan Express. Ghadge was earlier working as chief operating officer of ecommerce logistics company Go-Javas. Though Ghadge has confirmed the appointment, but Snapdeal has kept its mum on the development.
Ghadge left GoJavas three months back and now will be a part of one of India's biggest shopping portals. Snapdeal owns 42 per cent stake in GoJavas and had already invested a whooping amount of Rs 240 crore in the firm till now. GoJavas, which was built as a logistics arm of Rocket Internet-backed fashion retailer, was spun off as a separate third-party logistics player in 2013. It continues to be the largest logistics partner for Snapdeal and close to 85 per cent of GoJavas' current shipment volumes come from Snapdeal and Jabong.
Elaborating on the company’s move, a sector analyst said that Snapdeal is unlikely to invest further in GoJavas. The logistics entity, however, has been trying to raise a round on their own where Snapdeal will be participating.
Jasper Infotech, the holding company that runs Snapdeal and Vulcan, has recently nominated its senior vice-president of business finance Vivek Patankar to the board of directors, says the filings of Vulcan Express with the Registrar of Companies (ROC).