 "Vipin Kapooria quits as Blinkit CFO over a year after joining firm")
Vipin Kapooria, the chief financial officer of Blinkit, has resigned from the company, according to sources familiar with the matter. The resignation of the company’s top executive comes a little over a year after he joined the quick commerce platform in September last year.
Who will replace Vipin Kapooria at Blinkit?
Details on whether someone from outside or an executive already working with the company will replace Kapooria remain unclear.
What was Kapooria’s role before joining Blinkit?
Prior to joining Blinkit, Kapooria was working with Flipkart as vice president of business finance. He is reportedly likely to join the e-commerce platform again.
Who handled Blinkit’s finance function earlier?
At Blinkit, before Kapooria was appointed as the first full-time chief financial officer, Amit Sachdeva was heading the division. In November last year, Sachdeva went on to join ed-tech platform PhysicsWallah ahead of its initial public offering.
Why is the exit significant for the quick commerce sector?
The development comes at a time when competition in the quick commerce space is heating up.
Zepto has filed its draft red herring prospectus through the confidential route and is looking to list on the bourses in the next calendar year.
Meanwhile, Swiggy has recently raised Rs 10,000 crore through a qualified institutional placement, and Eternal, the parent of Blinkit and Zomato, has infused Rs 600 crore into its quick commerce arm.