Ola, Snapdeal, Paytm, Flipkart top brass quit. Is it plain ambition?
It seems recently-launched startups may face a leadership crisis soon as top executives of these companies have started moving out.
The employees of Snapdeal, Paytm, Ola, Flipkart-like top notch start-ups have started quitting their present companies, to join hands with new companies which could be more profitable in a shorter time span, an ET report said.
In the last 11 months, at least 17 senior level executives have left the country's top start-ups. Some of them are already associated with fast-growing ventures.
Ambitious move
"I think time has now come for more bootstrapped, more cash-flow friendly models," Srinivas Murthy, a former vice president of Snapdeal, who resigned in January, told ET.
Murthy is now working on a new idea to set up tech-enabled offline stores.
Bhuvan Gupta resigned as vice president-engineering of Snapdeal, in November, to form his own marketplace. His start-up is now doing business across 10 Indian states with a strength of over 100 employees.
Fear of job cut
However, reports indicate something different. A release of KPMG and CB Insights has already shown the plunge in the venture capital investment in the fourth quarter of 2015. The trend also shows a fear of job cuts in start-ups.
The tech start-ups are now hiring newcomers at a comparatively lower remuneration. Senior executives are now under the scanner due to hefty salary packages.
First published: 20 April 2016, 12:20 IST
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