Swiggy's Senior VP of revenue & growth, Anuj Rathi quits
"When I started here, Swiggy was a 2-year-old startup - operating in a few cities and learning to deliver in a hockey-stick growth environment. Every month and every year has been a new challenge and a new learning opportunity for me professionally and personally," he posted.
)
The spate of senior-level exits continue at online food delivery platform Swiggy and now, Anuj Rathi who was senior vice president of revenue and growth, on Thursday announced he has quit the company after "a career-defining journey of 7 years". In a LinkedIn post, Rathi said he decided to hang up boots and it has been an amazing ride.
"When I started here, Swiggy was a 2-year-old startup - operating in a few cities and learning to deliver in a hockey-stick growth environment. Every month and every year has been a new challenge and a new learning opportunity for me professionally and personally," he posted.
In May, Ashish Lingamneni, VP, head, brand and product marketing, and Nishad Kenkre, VP, head, revenue and growth, Instamart, left Swiggy.
TRENDING NOW
In April, the online food delivery platform confirmed that its Chief Technology Officer Dale Vaz decided to move on to pursue his entrepreneurial venture. Madhusudan Rao, who has been with Swiggy for over four years, took over as CTO.
In the same month, Karthik Gurumurthy, SVP, Swiggy Instamart, decided to move on. According to the company, Gurumurthy went on a sabbatical and will "join us back in three months".
After a career-defining journey of 7 years with @Swiggy, I've decided to hang up my boots here. It’s been an amazing ride and I couldn't be luckier to work with some of the best individuals to deliver convenience to Indians
— Anuj Rathi (@anujrathi) September 7, 2023
In May, Swiggy CEO Sriharsha Majety said their food delivery business has turned profitable (as of March 2023), after factoring in all corporate costs, excluding employee stock option costs.
Without sharing any numbers, Majety said that this is a milestone for food delivery globally.
Swiggy experienced a significant increase in losses during the financial year 2023 (FY23), said tech investor Prosus in its annual report. Swiggy's losses for the entire FY23 amounted to approximately $545 million, representing an 80 per cent increase compared to around $300 million in FY22.
As a majority shareholder with 33 per cent in the online food delivery platform, Prosus reported that its share of loss in Swiggy surged to $180 million in FY23, up from $100 million in FY22. This increase was attributed to investments in Instamart, Swiggy's quick-commerce arm.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
08:51 pm
Swiggy's food delivery sales up 17% to $1.43 billion in H1FY24: Prosus
US-based Invesco raises Swiggy's valuation to $7.8 billion 
ONDC empowers 1 million marginalised sellers, weavers across 60 cities
Swiggy delivery workers in Mumbai remain on strike for 3rd day over change in pay
Zomato shares gain 4% after Swiggy executives go on indefinite strike