Flipkart Chief Operating Officer (COO) Nitin Seth has put down his papers, says a report. (Image: Reuters)
Flipkart Chief Operating Officer (COO) Nitin Seth has put down his papers, says a report.
Seth was at the helm of logistics unit Ekart and corporate functions such as human resources and strategy. He has quit citing personal reasons, adds the report. This comes at a time when Indian e-comerce major Flipkart is in talks to take over rival company Snapdeal in a major acquisition.
Nitin Seth had joined as chief people officer only in February 2016 and seen Flipkart witness multiple management restructurings. He was first promoted to the position of Chief Administrative Officer halfway through 2016 after which he began handling strategies and corporate functions for the firm.
Meanwhile, in a biggest round of funding by an Indian Internet company till date, Flipkart had raised USD 1.4 billion from blue-chip technology companies Microsoft, eBay and Tencent last month.
With this round of funding, Flipkart valuation has reached USD 11.6 billion and US IT major Microsoft joins Flipkart as a strategic investor.
Flipkart’s existing investors include Tiger Global Management, Naspers Group, Accel Partners and DST Global. “Flipkart Group has raised a total of USD 1.4 billion from Tencent, eBay and Microsoft – three of the world’s premier technology companies,” Flipkart said in a statement.