Snapdeal hires new IRO

Ashish Jain has been appointed as senior vice president of investor relations and M&A integrations at New-Delhi headquartered Snapdeal. He joins from McKinsey’s Singapore office where he was an associate partner responsible for ‘defining strategies and M&A for technology, media and telecom companies across Asia,’ according to a company release.

The electrical engineering graduate and INSEAD MBA alumnus, who started his career at integrated circuits manufacturer Altera, has worked in equity research and investment banking for the tech sector at UBS in London and Mumbai. Prior to joining McKinsey, he served as director for business development, M&A, strategy and performance management at Telenor’s Asia branch, based in Bangkok.

‘Ashish has built a successful career in developing intricate relationships with global investment hubs including Europe, America and Asia,’ says CFO Anup Vikal. ‘His experience and enthusiasm will be pivotal in driving a fulfilling business for Snapdeal’s investors and stakeholders.’

The as-yet unlisted Snapdeal recently secured $500 mn in funding from Alibaba, Foxconn Technology and SoftBank, which values the firm at $5 bn. Currently the market leader in India in terms of sellers, the e-commerce platform is pursuing an aggressive expansion with 10-12 strategic investments and acquisitions expected to take place this year.

‘In the last few years, Snapdeal has emerged as a leader within the e-commerce and tech space and I look forward to joining the young and energetic Snapdeal family,’ enthuses Jain. ‘Digital commerce is an exciting sector and I am keen to explore new avenues for long-term growth of the business and all stakeholders.’