Udaan assigns cofounder Vaibhav Gupta as CEO, aiming for an IPO in 18-24 months
By MYBRANDBOOK
Udaan, the B2B e-commerce platform, has assigned its co-founder Vaibhav Gupta as Chief Executive Officer under its plans to become a CEO-led and board driven organisation.
"The plan, that involves a CEO-led and board driven organisation, envisages building Udaan as a future-ready organisation with an aim to capitalise on the enormous growth opportunity that the Indian e-commerce market offers," Udaan said in a statement said.
As per the company, Amod Malviya and Sujeet Kumar, the other two board members, will work with Gupta to make sure that the organization is successfully transitioning to a CEO-led structure for continued success and achieve their shared vision for the organisation
The changes come into effect from September 10, Friday, Udaan added.
The changes are in line with the company's plans to float an IPO within 18-24 months.
According to co-founder and CEO Vaibhav Gupta, in last five years Udaan has come a long way. It has created not only the B2B e-commerce industry in India but also a playbook that is now being emulated in other developing economies.
"As we embark on the next phase of our growth journey, it is important to lay the right foundations for that. It is with this objective that this structure has been created that will help in the evolution of the organisation, enhance agility and efficiency, drive innovation and bring us closer to the customer," he added.
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