Sidharth Satpathy, Vice President at Swiggy-owned Instamart, is moving on, with this being yet another top-level departure from the food delivery giant.
Satpathy, who joined Swiggy as an AVP in June 2019 before being promoted to VP in July 2021, took to LinkedIn to inform about his exit.
“Around 5 years back, a conversation led me to take a leap into the startup ecosystem Swiggy and what a ride it has been. As I move on and reflect on how this phase of life has been, I am filled with nothing but gratitude,” he wrote, thanking everyone he worked with at the company.
At Instamart, his position will be taken over by Anirban Roy starting this week, Satpathy further stated, adding that in his next stint, he will back in the CPG industry from next Monday.
Roy arrives at Instamart from Amazon India, where his most recent position was as Head, Performance Marketing.
Recent top-level exits from Swiggy
In March last year, Kartik Gurumurthy, who built Instamart, moved on, and, in the following month, Dale Vaz, the Bengaluru-based firm’s then CTO, resigned. Other executives to leave were Ashish Lingamneni (VP, head of brand and product), Nishad Kenkre (VP, head of revenue and growth), and Anuj Rathi (SVP, revenue and growth).
Swiggy IPO
These developments come at a time when Swiggy is preparing for a $1 billion initial public offering (IPO). In this regard, the Softbank-backed firm is likely to have picked investment bankers including Kotak Mahindra Capital, Citi and JP Morgan, Bofa Securities, Jefferies, etc.
Also, recently, US-based asset management company (AMC) Invesco, which owns around 2% stake in the food major, raised its valuation of the latter to $8.3 billion.