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The e-commerce giant <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>, which raised $200 million in funds in early 2016, is not looking to raise more funding any time in the near future. "At present, we are comfortably funded. In fact, we haven't even utilized the last funding received," <a href="http://www.businessinsider.in/Snapdeal-ups-its-game-AppointsJayant-Sood-as-Chief-of-customer-experience/articleshow/47108207.cms">Jayant Sood</a>, Chief Customer Experience Officer of Snapdeal, told <a href="http://economictimes.indiatimes.com/small-biz/money/no-need-for-fresh-funding-transition-in-softbank-wont-have-an-impact-on-us-snapdeal/articleshow/53148531.cms">ET</a>. 
 
As per Sood, there is no need for fresh funding even as <a href="http://www.businessinsider.in/Im-going-to-help-all-these-guys-Nikesh-Arora-on-SoftBanks-India-investments/articleshow/53001587.cms">Nikesh Arora</a> has <a href="http://www.businessinsider.in/Nikesh-Arora-explains-why-he-quit-his-Softbank-job/articleshow/52935433.cms">resigned </a>from <a href="http://www.businessinsider.in/SoftBank-Ken-Miyauchi/articleshow/52866992.cms">SoftBank</a>, the Japanese investor that is the largest shareholder in Snapdeal. 
 
"Nikesh has been a great supporter and mentor to our business and we look forward to the same in the future. SoftBank will continue to provide financial and strategic support to our company and the transition in the company will have no impact on our business," adds Sood. 
 
The <a href="http://www.businessinsider.in/Indian-e-commerce-market-is-slowing-down/articleshow/52940196.cms">Indian e-commerce space </a>has seen a lot of ups and downs in the recent past, ranging from protests from offline retailers against heavy online discounting to the government introducing new FDI policies for selling food products online. All these changes have definitely had their impact on Snapdeal, which has enjoyed a healthy run in the five years that it has existed in the market. 
 
"E-commerce in India has gone through a clear cycle of growth with consumer perception of what constitutes 'value' evolving beyond mere discounts, Today the parameter by which success can be measured in this sector is the delivery experience and frictionless engagement a customer gets," Sood said. To make sure this happens, Snapdeal has been moving its focus to these areas. 
 
Future Investment 
To be in line with what the industry demands, <a href="http://www.businessinsider.in/Snapdeal-may-be-trying-to-become-Indias-Dianping/articleshow/53057001.cms">Snapdeal </a>has invested worth about $300 million in its supply chain management alone over the past two years. 
 
"We have also invested heavily in infrastructure including building a two million sq ft warehousing space across 63 fulfilment centres in 25 cities," he says. In fact, a majority of orders are shipped through these centres. "This number has grown from just 7% in January 2015 to 80% today," adds Sood. 
 
"We are giving people products and brands that brick-and-mortar retail has failed to provide in all these years. Going by that logic, it won't be incorrect to say that e-commerce closes the gap between aspiration and access," says Sood. This statement is proven when one observes shopping patterns over a period of time. 
 
Cashless modes of payment are also adding a lot to the increasing fondness for online shopping. "This has been developing on the back of more seamless payment options as well as evolving consumption habits as people get more comfortable with online purchasing. In fact, e-payments have significantly increased since Freecharge wallet was integrated with our platform as it allows check-out processes to be completed in less than 10 seconds," said Sood. 
 
<a href="http://www.pitchonnet.com/wp-content/uploads/2015/04/Jayant.jpg">Image source</a>

Snapdeal has enough money for now, doesn’t need fresh funding, says Jayant Sood

Indian ecommerce undergoing an experimental phase is exploring new vistas to appeal to the floating clientele. No exception to this, major player <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> has found new ways to enhance its customer experience. To ensure its consumer loyalty in the cut throat ecommerce market in India, Snapdeal has appointed <keyword id="276976" type="PERSON" weightage="20" keywordseo="Jayant-Sood">Jayant Sood</keyword> as the <keyword id="2830937" type="POSITION" weightage="20" keywordseo="chief-customer-experience-officer">chief customer experience officer</keyword> (CCO). 
 
As reported by The Economic Times, Sood will be responsible for the customer service operations at Snapdeal. 
 For 20 years Sood worked with <keyword id="91294" type="CITY" weightage="20" keywordseo="American-Express">American Express</keyword> after, which he worked with Bharti Airtel Ltd as the <keyword id="2830678" type="POSITION" weightage="20" keywordseo="chief-service-officer">chief service officer</keyword>. He holds a Bachelor's degree in Economics (Honors) from the <keyword id="2830936" type="UNKNOWN" weightage="20" keywordseo="University-of-Delhi-and-Chartered-Accountancy">University of Delhi and Chartered Accountancy</keyword> certificate from "The <keyword id="22866" type="ORGANIZATION" weightage="20" keywordseo="Institute-of-Chartered-Accountants-of-India">Institute of Chartered Accountants of India</keyword>". 
 
Speaking about his appointment, Sood told the ET, "Snapdeal has seen unprecedented growth in the last three years and is undoubtedly the fastest growing e-commerce company in the country. We are on the road to build world class customer service operations at Snapdeal that will lay the foundation for best in class customer experience."

Snapdeal ups its game. Appoints
Jayant Sood as Chief of customer experience

<keyword id="2230975" type="UNKNOWN" weightage="100" keywordseo="Vijay-Ghadge">Vijay Ghadge</keyword>, who earlier served as the COO of <keyword id="2230197" type="UNKNOWN" weightage="100" keywordseo="GoJavas">GoJavas</keyword>, has now been appointed as the COO of <keyword id="3489561" type="UNKNOWN" weightage="100" keywordseo="vulcan-express">Vulcan Express</keyword>, <a href="http://www.businessinsider.in/This-tweak-in-policy-by-Snapdeal-is-a-win-for-sellers-but-will-hassle-online-buyers/articleshow/53169441.cms">Snapdeal</a>’s captive logistics unit. 
 It’s just been three months that Ghadge quit GoJavas, the e-commerce logistics company that has its 42% stake held by e-commerce giant <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>, which had also <a href="http://www.businessinsider.in/Snapdeal-invests-20-mn-in-gojavas-to-reach-100-more-Indian-cities-easily/articleshow/49258885.cms">invested </a>Rs 240 crore in the company in two subsequent rounds in 2015. 
 
Also read: <a href="http://www.businessinsider.in/no-fresh-funding-for-Snapdeal/articleshow/53154143.cms">Snapdeal has enough money for now, doesn’t need fresh funding, says Jayant Sood</a> 
 
GoJavas is the largest logistics partner for New Delhi-based Snapdeal, which makes for around 85% its business along with <a href="http://www.businessinsider.in/No-more-low-margin-products-on-Jabong-as-it-switches-focus-from-portfolio-to-profits/articleshow/52399169.cms">Jabong</a>. 
 
"Snapdeal is unlikely to invest further in GoJavas. The logistics entity, however, has been trying to raise a round on their own where Snapdeal will be participating," a sector analyst told <a href="http://economictimes.indiatimes.com/small-biz/startups/vijay-ghadge-joins-as-coo-of-snapdeals-captive-logistics-unit-vulcan-express/articleshow/53183297.cms">ET</a>. 
 
Also read: ​​<a href="http://www.businessinsider.in/Alibaba-India-logistics-companies/articleshow/52235513.cms">Indian logistic companies look forward to partnering with Alibaba for its India entry</a> 
 
<a href="http://d152j5tfobgaot.cloudfront.net/wp-content/uploads/2015/08/Vijay-Ghadge-yourstory.jpg">Image source</a>

Vijay Ghadge is the new COO of Snapdeal's Vulcan Express

The job market in India, in recent times, has become both dynamic and more competitive. With an influx of <keyword id="428085" type="UNKNOWN" weightage="20" keywordseo="start-ups">start-ups</keyword>, which have disrupted the traditional ways of doing business, large Indian corporate have been scouting for talented C-suite executives for their companies. 
 
“One of the trends that has clearly stood out in the last one year is hiring younger CEOs, typically lesser than the traditional average age of a CEO. In addition to this, unlike before when the CEOs position were open for a longer time, at times up to one year, organizations nowadays are demanding the positions to be closed within 3-4 months. This trend can be witnessed across industries and across organizations irrespective of their size,” said James Agrawal, managing director, India and Thailand at BTI Consultants. 
 Besides, younger CEOs, <keyword id="46431" type="CITY" weightage="20" keywordseo="India-Inc">India Inc</keyword> preferred cross-industry CEOs as they provided a different perspective on the future course of action in a particular industry. However, Agrawal noted that the rate of attrition has substantially increased in the top management, with CEOs having a shorter stint as compared to the average tenure a few years back. “Loyalty and stability at the top is surely reducing as compared to the last few years,” he added. 
 Last year, we saw a handful of veterans across industries flocking the eCommerce sector by taking up plump positions in online retail giants. For instance, former chief service officer of <keyword id="6354287" type="CITY" weightage="20" keywordseo="Bharti-Airtel">Bharti Airtel</keyword>, Jayant Sood joined etailer <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> as the chief customer Experience officer in March this year. Similarly, Idi Srinivas Murthy, who served Coca Cola as the marketing director, joined Snapdeal as senior vice-president, marketing this year itself. 
 
In April this year, used goods marketplace Quikr appointed former co-founder and CEO of real estate portal Favista as the head for new vertical QuikrHomes. In another such case of C-suite hiring, B2B online firm Tolexo.com, appointed former Jabong’s chief technology officer, Harsh Kundra as a co-founder and head of its Product and Technology vertical. 
 
Interestingly, in terms of sectors, IT/ITES and management Consulting, however, the top recruiters of CEOs with nearly 50% hiring in the space. Other sectors such as e-commerce, pharmaceuticals, manufacturing and financial services and insurance followed suit and made top level recruitment. 
 
It should be noted that C-suite executive hiring surged nearly 10% in 2014 over last year. And Agrawal has projected the hiring to go up by another 10% over FY15.

See more of
young C-suites everywhere? Here’s why India is hiring younger CEOs!

Experience counts. Indian start ups have realized the benefits of recruiting a seasoned executive in the team. The first three Indian startups with a valuation of $ 1 billion - Flipkart, Snapdeal and <a href="http://www.businessinsider.in/Uber-testing-cash-on-deliverymodel-in-Hyderabad-May-roll-out-in-other-cities-soon/articleshow/47245769.cms">Ola</a> having become giants in terms of revenue are relying largely on seasoned executives in key roles, as per a news report by The Economic Times. 
 
Having brought Krishnendu Chaudhury and Ravi Garikipati on board from the Silicon Valley, Flipkart is aiming high in terms of employee’s satisfaction and ambition. 
 
Meanwhile, Peeyush Ranjan, Flipkart's new head of engineering, has started a programme called <a href="http://www.businessinsider.in/This-is-where-Flipkart-is-transferring-hundreds-of-its-employees/articleshow/47655386.cms">F24 to fix any problem that engineers face within 24 hours</a>, be it malfunctioning laptops, access to libraries or whatever. "As the organisation gets bigger it has an inherent challenge to stay nimble, and not get bogged down," Ranjan who previously led the engineering group for Google's Android One project told ET. 
 
Aneesh Passi, cofounder of Basil Advisors, which hires for startups, said, "These people (seasoned executives) know massive distribution set ups. They have seen huge scale, managed huge turnovers... that's why companies want to hire them." 
 
Passi, added that the unicorn startups, which have joined $1 billion club, "have the funding now, so they have pressed the accelerator". Ola Cabs too is betting on experienced hands as it looks <a href="http://www.businessinsider.in/Uber-testing-cash-on-deliverymodel-in-Hyderabad-May-roll-out-in-other-cities-soon/articleshow/47245769.cms">to stay ahead of rival Uber that has started accepting cash payments</a> in certain cities and is making deeper forays into tier two cities, says the news report by the financial daily. 
 
To that end, Ola is relying on its head of new initiatives, Sundeep Sahni, to replicate his success in making Lazada the number one ecommerce portal in Indonesia in his previous stint. "Going deeper in existing markets and creating newer and wider use cases is going to be critical," said Sahni, who joined Ola in mid-July. 
 
"On the functional side, Ola has got its rough edges. Since we are in the business of on demand, if you can remove a fraction of the second, it makes a big difference," Singh, who joined the firm after his five-year-stint at travel portal Cleartrip.com told ET. 
Snapdeal has hired Jeyandran Venugopal, a former Yahoo India executive, to prepare its future technology roadmap and got on board experienced executives to head its strategy and product divisions. 
 
"In ecommerce, only small strides have been made. There is a lot that they can learn from other industries in terms of customer service," Jayant Sood of Snapdeal told the financial daily. "True focus is now coming into digital commerce. My mandate is to transform customer experience and aim to be the best in customer service across industries."

You Searched For "Jayant Sood" and got 5 results

Snapdeal has enough money for now, doesn’t need fresh funding, says Jayant Sood

BI India Bureau

Snapdeal ups its game. Appoints Jayant Sood as Chief of customer experience

BI India Bureau

Vijay Ghadge is the new COO of Snapdeal's Vulcan Express

BI India Bureau

See more of young C-suites everywhere? Here’s why India is hiring younger CEOs!

Purba Das

Flipkart, Snapdeal and Ola drive up demand for ‘experienced’ executives in startups

BI India Bureau

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