- ByStartupStory | March 19, 2024
Harsh Chaudhary, the Chief Experience Officer (CXO) of monetization at Meesho, has announced his departure from the company after a notable two-year tenure. Chaudhary’s exit marks the latest in a string of departures of top executives from the unicorn startup, raising questions about its leadership stability.
According to reports, Harsh Chaudhary has now joined Flipkart, a leading player in the Indian e-commerce market, as the Vice President of Customer. In his new role, he is tasked with driving platform traffic and expanding the customer base, a move that underscores Flipkart’s strategic focus on enhancing its customer experience and market reach.
Chaudhary’s transition from Meesho to Flipkart was confirmed through his LinkedIn profile and was first reported by Moneycontrol. Prior to his stint at Meesho, Chaudhary held prominent positions at renowned companies such as Disney+ Hotstar and Myntra. At Disney+ Hotstar, he served as the Senior Vice President and CXO of Business and Strategy, leading pivotal teams across growth partnerships, strategy, and analytics.
Meesho, founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, has witnessed a series of high-profile exits in recent months, signaling a period of transition for the unicorn startup. Last year saw the departure of Utkrishta Kumar, Chief Experience Officer of Meesho’s business division, after a commendable five-year tenure. Following Kumar’s exit, Megha Agarwal was appointed as the new CXO for the business division. Subsequently, Kirti Varun Avasarala, Meesho’s Chief Product Officer, also resigned, culminating his four-year tenure with the company.
Despite the leadership shakeup, Meesho continues to maintain its stature as an e-commerce powerhouse, boasting over 1.5 million sellers and more than 140 million annual transacting users across India. The startup’s resilience and growth trajectory were further underscored by its recent launch of a substantial INR 200 crore ($25 million) Employee Stock Ownership Plan (ESOP) buyback program, benefiting around 1,700 past and current employees.
Meesho’s robust investor backing, which includes prominent names such as DST Partners, Elevation Capital, Facebook, and Prosus, reflects confidence in its business model and market potential. Its parent company, Fashnear Technologies, reported a notable 48% decrease in net loss to INR 1,675 crore in FY23 from INR 3,248 crore in the previous fiscal year. Moreover, Meesho’s claim of turning profitable in the second quarter of FY24 underscores its strategic focus on sustainable growth and profitability in the fiercely competitive e-commerce landscape.
