Top-Level Exits Continue At Meesho: Now, CXO Harsh Chaudhary Quits To Join Flipkart

Meesho To Increase Size Of Next Funding Round To $500-$650 Mn

SUMMARY

Harsh Chaudhary, who led the advertising and financial services verticals at Meesho, joined Flipkart as the VP of customer in February 2024

Chaudhary is among the several top executives who have left Meesho in the past few months

Earlier this month, Meesho launched an INR 200 Cr (about $25 Mn) ESOP buyback programme

Adding to the exits of top executives at ecommerce unicorn Meesho, its CXO of monetisation Harsh Chaudhary quit last month after a two-year tenure.

As per Chaudhary’s LinkedIn profile, he joined Flipkart as the VP of customer in February 2024 and is responsible for driving platform traffic and growing the transacting customer base.

The development was first reported by Moneycontrol.

At Meesho, Chaudhary led the advertising and financial services verticals. Prior to joining Meesho, he worked with Disney+ Hotstar and Myntra. He served as the senior vice president and CxO of business and strategy at Disney+ Hotstar. He led teams in categories such as growth partnerships, strategy, and analytics.

With this, Chaudhary has become the latest top-level executive to quit Meesho in the last few months. Last year, Utkrishta Kumar, chief experience officer at Meesho’s business division, stepped down from his role after a five-year tenure. The ecommerce unicorn appointed Megha Agarwal as the new CXO for the business division.

Shortly after that, Meesho’s chief product officer Kirti Varun Avasarala also resigned following a four-year tenure.

Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho claims to have over 15 Lakh sellers on its ecommerce platform from across India. The startup also claims to have more than 140 Mn annual transacting users.

Earlier this month, the ecommerce startup launched an INR 200 Cr (about $25 Mn) employee stock ownership plan (ESOP) buyback programme. The startup claimed it is the largest such ESOP buyback programme undertaken by it and would benefit around 1,700 past and current employees.

Meesho counts the likes of DST Partners, Elevation Capital, Facebook, and Prosus among its investors. Its parent Fashnear Technologies reported a 48% fall in its net loss to INR 1,675 Cr in FY23 from INR 3,248 Cr in the previous fiscal year.

In December last year, the ecommerce unicorn claimed that it turned profitable in the second quarter of FY24.