E-commerce major Meesho’s CXO of monetisation, Harsh Chaudhary, has quit the firm to join Flipkart.
Chaudhary exited the firm after a stint of two years, where he led the advertising and financial services verticals. At Flipkart, Chaudhary is the Vice-President (VP) of Customer where he will lead customer growth including acquisition and retention of users. Chaudhary will also run Flipkart’s video commerce unit, as per his LinkedIn profile.
He joins the growing list of top management employees quitting the e-commerce major. Recently, Utkrishta Kumar, chief experience officer at Meesho’s business division, stepped down after a five-year tenure. The e-commerce unicorn appointed Megha Agarwal as the new CXO for the business division. Meesho’s chief product officer (CPO) Kirti Varun Avasarala also quit after a four-year stint.
Chaudhary, who is moving to Flipkart, a competitor to Meesho, has earlier worked with Myntra. He also worked at companies like McKinsey and Disney+Hotstar.
Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho claims to have over 15 lakh sellers on its platform and more than 140 million annual transacting users.
Recently, Meesho announced an employee stock option (ESOP) buyback programme worth ₹200 crore. The buyback programme, its largest to date, would be open to 1,700 current and former employees, the firm said. Eligible current and ex-employees across the spectrum, from junior-level executives to senior leadership, can voluntarily participate in this programme, it added.
Cash-flow positive
The announcement comes months after Meesho turned profitable in July 2023. While its profit after tax has been in the single digits, the company says it has been profitable since then and is cash-flow positive.
Meesho’s revenue from operations grew to ₹5,735 crore in FY23 from ₹3,232 crore in FY22. Its losses halved from ₹3,251 crore in FY22 to ₹1,675 crore in FY23. Meesho is yet to file its final results with the Ministry of Corporate.