Senior Correspondent, IndianRetailer.com & Retailer Magazine May 31, 2017 / 2 MIN READ
Even as it reaches the final stages of being acquired by its bigger rival Flipkart, e-commerce marketplace Snapdeal, has lost another member from top leadership with human resources chief Saurabh Nigam deciding to move on.
According to a spokesperson, "After spearheading Snapdeal's Human Capital function for more than three years, Saurabh Nigam has decided to move on to pursue further career interests in a field close to his heart."
Pravin Kutty, Associate Vice President - HR and Administration, will head the Human Capital function after Nigam's departure.
Snapdeal, over the past many quarters, has seen exit of senior executives like Tony Navin, Sandeep Komaravelly, Anand Chandrasekaran, Abhishek Kumar and Amit Maheshwari.
Nigam's exit comes at a time when Snapdeal's largest investor SoftBank has been proactively mediating a potential sale of Snapdeal to Flipkart for the last few weeks.
Compared to a valuation of about USD 6.5 billion in February 2016, the sale to Flipkart could see Snapdeal being valued at about USD 1 billion.
The deal between Snapdeal and Flipkart, if completed, would mark the biggest acquisition in the Indian e-commerce space.
Recognizing the surge in preference for brand-centric, value-driven retail, Snapdeal has strategically added various lifestyle brands, catering to consumers seeking both quality and affordability.
The synergy between Agoda and Snapdeal capitalizes on the strengths of two industry giants, aiming to address the dynamic requirements of the Indian market.
ONDC’s focus on expanding the online opportunity in India and creating a more inclusive e-commerce ecosystem is well matched with Snapdeal’s focus on growing e-commerce beyond just brands and urban users.
Snapdeal was reportedly looking to raise $152 million at a valuation of about $1 billion.
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