Unicommerce CTO Bhupinder Garg Resigns

Unicommerce’s chief technology officer Bhupinder Garg has stepped down from his role citing personal reasons.

In a letter to the company, Garg said, “I hereby tender my resignation as senior management personnel under the SEBI Regulation 2015, with effect from the close of business hours on Tuesday, April 15, for personal reasons.”

Unicommerce acknowledged his resignation today (April 16), the company said in an exchange filing. 

As per his LinkedIn profile, Garg joined Unicommerce in October 2017. Since then, he has been heading the engineering and product development functions. Further, he expanded the product portfolio to D2C, B2B, newer industry verticals, newer client profiles and newer geographies as well.

Prior to this, he also worked with brands such as Snapdeal, Amazon, D E Shaw & Co and Microsoft, holding almost two decades of experience in the engineering field.

However, Unicommerce has not yet announced Garg’s replacement.

Until then, the company’s engineering function will be led by Ankit Jain, who is currently the vice president of technology, while the product development will be headed by the director of product Rachit Srivastava.

Shares of the company were up marginally by 0.5% at INR 130.60 apiece on the BSE when it closed the day’s trade, compared to its last close of INR 130 per share.

On the financial front, the SaaS major’s consolidated net profit zoomed 62.1% to INR 6.29 Cr in the third quarter of FY25 from INR 3.88 Cr in the year-ago quarter. Meanwhile, it saw a 26% jump in revenue from contract with customers to INR 32.74 Cr from INR 25.96 Cr in Q3 FY24.

The development comes in the light of a mass top level exit observed across various sectors in the startup ecosystem today.

As per Inc42’s compilation of leadership exits in the past year, about 15 cofounders and chief executives have quit their positions for multiple reasons. 

Since the start of this year, Zomato’s food ordering and delivery business chief operating officer Rinshul Chandra, Flipkart’s chief product and technology officer Jeyandran Venugopal and Mamaearth chief business officer Zairus Master have resigned from their positions on grounds of personal reasons.

Most recently, T Koshy, the managing director and chief executive officer of the government-backed Open Network for Digital Commerce (ONDC) and Myntra’s chief product and technology officer Raghu Krishnananda quit their roles.