1. Snapdeal overhauls management, moves key execs, restructures functions

Snapdeal overhauls management, moves key execs, restructures functions

Online marketplace Snapdeal has effected a management overhaul, by restructuring some of its functions with the organisation and making key executives move to larger roles.

By: | Bengaluru | Published: November 12, 2016 6:24 AM

Online marketplace Snapdeal has effected a management overhaul, by restructuring some of its functions with the organisation and making key executives move to larger roles.

In an e-mail addressed to employees to detail out the changes, which was reviewed by FE , Snapdeal co-founder and chief operating officer Rohit Bansal said, “It is imperative that we continue to build an organisation which helps in achieving higher synergies and even better business results.”

As part of the management changes, Vishal Chadha, senior vice-president at Snapdeal, will head consolidated teams of market development, category management and part of brand alliances. “Within Vishal’s team, we will move to a business unit structure where all category managers, key account managers, brand partnership managers, and most other functions pertaining to a category will become a part of the same business unit,” Bansal said.

According to the e-mail, each of the category business units will have four broad work streams: portfolio management, key accounts, brand alliances and products life-cycle management. The business unit of the online marketplace — Snapdeal Instant — will be headed by Saurabh Bansal, who was vice-president and head of category management. Snapdeal Instant, which was launched in July 2015, allows the delivery of goods within an hour of placing the order.

The pricing analytics team will come under Anubhav Goyal and Tony Navin will be heading strategic partnerships and new Initiatives for Snapdeal.

“The transition of team members into this new structure will be completed within the next one week,” Bansal said.

These changes at Snapdeal come after the recent festive season sale in October, during which the marketplace unleashed a new campaign called Unbox Diwali.

Snapdeal, founded by Kunal Bahl and Rohit Bansal in 2010, has till now raised around $1.65 billion in funding. Softbank, the Japanese internet and telecom conglomerate became the majority shareholder in Snapeal when it invested $627 million in 2014. In August last year, Snapdeal raised $500 million in fresh funds largely from Chinese e-commerce firm Alibaba Group, Foxconn Technology Group and existing investor Softbank Group. The other investors include Bessemer Venture Partners, Intel Capital, Iron Pillar, Kalaari Capital and Ratan Tata.

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