Swiggy Instamart’s head Karthik Gurumurthy is stepping down from his role as he plans to take a sabbatical and come back afresh.

Instamart will now be headed by Swiggy’s co-founder Phani Kishan Addepalli. In a Linkedin note, Gurumurthy said, “I have loved being a part of this journey (building Instamart) but this journey has been arduous with lot of compromises on physical and mental wellbeing. I plan to take a sabbatical now to come back afresh and build something, something which I have loved... Live back and play back that memories of 2020 and 2021. The business will be spearheaded by Phani Kishan Addepalli, a great leader and our co-founder who will take this to next orbit.”

He added that the Instamart has today become almost a billion dollar business and some of Instamart’s dark stores have also turned profitable. Gurumurthy took over the role of Head of Instamart in 2020 and has been leading the function for the past three years. 

Market expansion

In his latest interaction with the media, Gurumurthy mentioned that Instamart is looking to add 100 million users on its platform in the next four-to-five years backed by increasing penetration in existing markets, addition of new markets and widening of its product offerings. The company had recorded close to 9 million transacting users as of October 2022.

India’s quick commerce market is expected to witness a 10-15x growth by 2025, reaching a market size of close to $5.5 billion, leading other markets (including China), according to Redseer Consulting report.