Friday, October 22, 2021

Swiggy elevates Phani Kishan as co-founder ahead of $800 million financing round

The announcement also comes amid growing rumours about the company’s future after the company's COO Vivek Sunder stepped down

Top food delivery app, Swiggy has announced to elevate company vice president strategy and investments, Phani Kishan as cofounder, the company CEO Sriharsha Majety announced in a blog post on Monday.

The new announcement comes at a time when Swiggy plans a new financing round of $800 million led by SoftBank Vision Fund even as its arch-rival Zomato is set to launch its IPO offering on July 14.

According to Majety, Kishan has been with the food and hyperlocal delivery platform for over six years and joined the company as a general manager of new initiatives. Last year, Swiggy’s co-founder and chief technology officer Rahul Jaimini exited to join Pesto Tech, a career accelerator startup. Swiggy at present has two cofounder’s — Majety and Nandan Reddy.

“Phani joined us very early on in 2015 and has been my fixer and go-to guy for many important problems for as long as I can remember. Over these 6 years, he’s probably had the record for setting up multiple high leverage functions from the ground up,” Majety said in an online company blogpost.

The announcement comes amid growing rumours about the company’s future after the company’s COO Vivek Sunder stepped down. Sunder oversaw the company’s food delivery business. Majety said that Kishan has played a key role in shaping the company’s value. “His energy, can-do attitude and founder mentality are all goal-worthy for any Swiggster to succeed here and make a huge impact in the company’s future,” Majety wrote.

Kishan will be part of the management team and will be involved in “helping shape the company’s future on our dream to build India’s most loved customer brand and an enduring institution.” Kishan joined Swiggy after spending over two years at the Boston Consulting Group. He has also served as assistant vice president, business strategy and growth, and chief of staff to CEO, according to his LinkedIn profile.

“His approach to building new and enduring organisational capabilities (read superpowers) has always been a force multiplier for us, and I can’t wait to see him go on and take new challenges to build even more superpowers in the years to come,” Majety said.


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