Sidharth Sathpathy, Vice President at foodtech major Swiggy has announced his exit in a LinkedIn post. Food and quick commerce major Swiggy saw other employees parting with their leadership roles close to its announcement of an Initial Public Offering (IPO).

Sathpathy was the VP - of category and business head for private labels at Swiggy’s quick commerce arm Instamart. He joined the company in 2019 as the AVP - head of national and strategic partnerships and was promoted to VP in 2021.

In the LinkedIn post, he said, “As I move on from Swiggy and reflect on how this phase of life has been, I am filled with nothing but gratitude.” Paying acknowledgments to his colleagues, Sathpathy adds, “In my first stint in Food Delivery, I was fortunate enough to work with some fantastic partners who helped me learn the ropes of the restaurant business. In my next stint with Swiggy Instamart, (many colleagues) have not only influenced my team and me in operations but also have shaped the Quick Commerce industry”.

He will be replaced by Anirban Roy, the former head of performance marketing at Amazon. In the months preceding this, Karthik Gurumurthy, Senior Vice President of Instamart, Anuj Rathi, Senior Vice President of revenue and growth and Ashish Lingamneni, Vice President - of brand, product marketing and sustainability, all quit the food delivery giant.

This news came amidst reports indicating that Swiggy has picked investment banks for its planned IPO in 2024.

Recently, US asset manager Invesco marked up Swiggy’s valuation to $8.5 on October 31. The company holds a 2 per cent stake in Swiggy. Prosus, Swiggy’s largest shareholder, said the company’s loss narrowed 35 per cent from 2022 to $208 million. The company said Swiggy had accrued a loss of about $540 million between January and December 2022.

(BL intern: Sanjana B)