The development comes as the acquisition talks between Snapdeal and Flipkart is expected to have fallen flat
In a move signalling beginning of the implementation of Plan B, Kunal Bahl announced the appointment of Kapil Makhija as the chief executive of its e-commerce management unit Unicommerce and Ankit Khandelwal as the chief operating officer.
The development comes as the acquisition talks between Snapdeal and Flipkart is expected to have fallen flat as Moneycontrol reported earlier.
In an email sent to the employees, post midnight, Bahl said that both Makhija and Khandelwal have been "key to the company making great progress over the last few years."
Moneycontrol has seen the mail.
Makhija who has been with Snapdeal since the last two years headed strategy and operations. Khandelwal, on the other hand, served as the vice president for the unit.
According to their Linkedin profiles, Makhija has pursued management from Indian Institute of Management, Bangalore. Khandelwal, on the other hand, is a BTech from Indian Institute of Technology, Delhi.
Unicommerce is an e-commerce management software and fulfilment solution provider. The company was acquired by Snapdeal in 2015.
Nexus Venture Partners, besides being one of the early investors in Snapdeal, had also invested in Unicommerce, before the acquisition took place.
In May, the founders Kunal Bahl and Rohit Bansal and Nexus were found to have pumped in Rs 113 crore into the company, according to documents available with the registrar of companies.
While there was no official confirmation on this, according to multiple people privy to it, this money had been put back into the company in lieu of Snapdeal's acquisition of Unicommerce.
Moneycontrol first reported that Snapdeal is mulling a Plan B in case the deal with Flipkart falls flat.As per the Plan B, the 1000-employee strong firm will also consider laying off of 600-800 employees with an aim to have a lean structure in place.The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .