Quick commerce platform Instamart has seen a big change at the top level. According to the information, Instamart's Chief Operating Officer (COO) Ankit Jain and Chief Business Officer (CBO) Hari Kumar have resigned from their posts. According to people associated with the matter, both the executives have decided to leave the company citing personal reasons. Ankit Jain and Hari Kumar, both joined Swiggy after working in e-commerce company Flipkart.
According to sources, the company has started searching for new people for these posts and some senior level officers can be appointed soon. Swiggy is also currently recruiting for several management level roles.
Ankit Jain joined Instamart in May last year. Before this he had worked in Flipkart for more than five years. At Instamart, he was handling important responsibilities like quick commerce business operations, dark store operations, network design and stock planning. Hari Kumar became a part of Instamart in November 2024. Both the officials were working closely with Instamart Chief Executive Officer (CEO) Amitesh Jha, who is also a former Flipkart executive.
In April this year, Swiggy had announced that its co-founder and innovation head Nandan Reddy would step down from the company's board. After this, the company had decided to include its co-founder and Chief Growth Officer Phani Kishan Addepalli and Chief Financial Officer Rahul Bothra on the board.
On the basis of order volume, Instamart currently ranks third in the quick commerce sector. Beyond this are Blinkit and Zepto. At present, there is tremendous competition in the quick commerce market. Big companies are giving huge discounts to retain customers and market share. At the same time, services like Amazon India's Amazon Now and Flipkart's Minutes are also expanding rapidly, due to which the competition has become more intense.
