Amid talks of cash crunch at Snapdeal, two of the company’s top executives have quit the company on unmentioned grounds, reported Economic Times.
Abhishek Kumar served as the head of corporate development while Sandeep Komaravelly was the senior vice-president of Shopo, a C2C marketplace.
Kumar, who played a key role in multiple acquisitions for Snapdeal is quitting after almost three years, while Komaravelly, one of the oldest employees at Snapdeal, had a six-year stint with the firm.
Asked about the reasons for their departure, a Snapdeal spokesperson told ET, ”Abhishek Kumar has decided to take forward his entrepreneurial interest, which takes him outside Snapdeal. Sandeep has moved on to pursue other opportunities in the entrepreneurial space”.
There have been speculations that Snapdeal is struggling to raise fresh funds but the company denies anything of that sort. On Monday its co-founder Kunal Bahl told Reuters that the company is on the path to achieving profitability over the next two years.
The company has already roped in former Housing.com CEO Jason as Chief Strategy and Investment Officer, who will take over the responsibilities of Abhishek Kumar.