Quick commerce platform Instamart’s chief operating officer (COO) Ankit Jain and chief business officer (CBO) Hari Kumar have resigned from their positions, people in the know told ET.
Both Jain and Kumar, who joined Swiggy after their stint at Flipkart, have moved on from the firm citing personal reasons.
“The company has identified somebody, who is set to join soon. Swiggy is hiring for more management-level positions,” said a source.
Jain joined Instamart last May after spending over five years at Flipkart. At Instamart, he was overseeing the operations of the quick commerce business, including dark store operations, network design, and stock planning.
Kumar has been a part of Instamart since November 2024. Both worked closely with chief executive Amitesh Jha, who is also a former Flipkart executive.
Swiggy did not respond to ET’s queries till the publication of this story. Moneycontrol was the first to report this development.
In April, Swiggy announced that its cofounder and head of innovation, Nandan Reddy, would step down and vacate his board seat. The Bengaluru-based company’s cofounder and chief growth officer Phani Kishan Addepalli, and chief financial officer Rahul Bothra will join its board of directors, it said in a stock exchange filing.
Instamart currently ranks third in the quick commerce sector based on order volumes, right after Blinkit and Zepto. The space is currently seeing high competition as incumbents continue to engage in discounting to retain customers and market share. Meanwhile, players like Amazon Now and Flipkart Minutes are catching up by expanding aggressively.
