Since the last one year leading E commerce giants like Flipkart, Snapdeal , Zomato searched for tech talents in the Sillicon Valley and lured them to India with huge pay cheques. Peeyush Ranjan, head of engineering and Punit Soni came to limelight after joining online store Flipkart while Zomato offered the position of Chief Product Officer (CPO) to Namita Gupta, a Facebook employee. But Gupta left Zomato within a year and she succeeded by Tanmay Saxena again he left the online chain of restaurant and discovery platform to join a health care startup.
CRB Tech has learn that the latest in the tribe is Anand Chandrasekaran, Snapdeal’s Chief Product Officer. He joined the growing league of prized Silicon Valley hires to quit job iat the Indian unicorns within a year of signing up. Anand had joined Snapdeal after quiting Airtel but it was his run at Yahoo, US that attracted Delhi-based online markets when he was on board.
Hiring Chandrasekaran was also viewed as Snapdeal’s answer to Flipkart’s hiring ex-Googler Punit Soni as CPO in June last year. Soni recently left Flipkart after the company could not assign with a clear role after some senior level reshuffling in management.
Anand decided to move out of Snapdeal and pursue his entrepreneurial interests. Anand has done some remarkable work on the product side at Snapdeal. A Snapdeal spokesperson said that Anand’s insights and attention in detailing helped them move quickly towards the launch and improvement of Snapdeal products. He said that Flipkart wishes Anand a success, for his entrepreneurial journey.
But why are these talents from the Valley resigning after such short stints? As per sources, there are two key reasons:
Firstly both the work environments are very different in many aspects including cultural.
Secondly they felt being overpriced for their role hired for. The scenario was different during their entry and now the companies are tightening their expanses due to fund crunching.
Chandrasekaran was heading the product division for Snapdeal, Freecharge, Exclusively, among others. His exit added to the continuous churn at Snapdeal, which witnessed many top-level exits over the past year including senior VP marketing, Srinivas Murthy, strategy head Rajan Kant, CFO Aakash Moondhra, chief technology officer Amitabh Misra; among others. In fact, in the early part of this month, vice-president Rahul Taneja who was also head of category management at Snapdeal, resigned to join their rival Jabong.
Meanwhile, Freecharge promoted its COO Govind Rajan as CEO while Kunal Shah, will take over the role of the chairman.
Another news making rounds is that Apple has rehired a mobile encryption pioneer as a result of continuous pressure from governments wanting access to user data stored on iPhones.
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