This Article is From Jan 11, 2017

Snapdeal Appoints Former CEO Jason Kothari To Head Strategy

Snapdeal Appoints Former CEO Jason Kothari To Head Strategy
New Delhi: Former CEO Jason Kothari has been roped in by Snapdeal to head the e-commerce company's strategy and investment operations, a day after the merger of the realty portal with PropTiger.

As Snapdeal's Chief Strategy and Investment Officer, Kothari will work alongside co-founders, Kunal Bahl and Rohit Bansal, in this key leadership role, Snapdeal said in a statement.

He will be joining Snapdeal on January 16, 2017, it added.

Interestingly, Snapdeal and are both backed by Japanese conglomerate SoftBank.

"Jason is a strong business leader & entrepreneur who has already been the CEO of two successful companies. Rohit and I warmly welcome Jason to the Snapdeal family and believe we will achieve even greater heights with his addition," Snapdeal co-founder and CEO Kunal Bahl said.

Kothari's responsibilities will include leading strategy, corporate development, including all investments and strategic partnerships; raising new capital for the company and portfolio management, overseeing companies that Snapdeal wholly owns or has invested in.

Kothari, on his appointment said: "Snapdeal is on its way to building one of India's best companies, and I look forward to helping in making that potential a reality."

Yesterday, announced merger with News Corp-backed real estate brokerage firm PropTiger and the joint entity raised $55 million from Real Estate Australia (REA) Group and Softbank.

Under Kothari's stewardship, had changed its business strategy and plan, hired a new experienced management team, restructured and reduced operating costs by 70 per cent going from 2,500 to 900 employees.

Prior to joining, Kothari was CEO and Vice Chairman of character-based entertainment company Valiant Entertainment.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)