Unicorn startup Meesho's CXO Harsh Chaudhary quits to join rival Flipkart

Harsh Chaudhary, the Chief Experience Officer (CXO) of monetization at Meesho, has left the e-commerce unicorn after a two-year tenure. His departure adds to a growing list of top executives exiting the company in recent months.

Interestingly, Chaudhary has joined Walmart-owned Flipkart, a direct competitor of Amazon and Meesho, as the Vice President of Customer. He is tasked with driving customer growth through acquisition and retention and leading the video commerce unit.

The growing exodus

Chaudhary's exit follows closely on the heels of Utkrishta Kumar, Meesho's Chief Experience Officer, who left in January to start his own fintech venture, and Kirti Varun Avasarala, the Chief Product Officer, who also resigned after four years.

These departures highlight a significant reshuffling within Meesho's top management, all of whom reported directly to co-founder and CEO Vidit Aatrey.

Chaudhary's new role at Flipkart

In his new position at Flipkart, Chaudhary is responsible for driving platform traffic and growing the transacting customer base. Notably, This marks his second stint within the Flipkart group, having previously worked at Myntra.

His experience spans over 13 years, including roles at McKinsey and Disney+ Hotstar, where he led various teams in growth partnerships, strategy, and analytics.

Meesho's recent ESOP buyback

Founded in 2015, Meesho claims to have over 15 lakh sellers on its platform and more than 140 million annual transacting users. Despite the executive exits, the company recently launched its largest-ever ESOP buyback programme worth Rs 200 crore, benefiting around 1,700 past and current employees. 

The company has seen a significant reduction in net loss and claims to have turned profitable in the second quarter of FY24.

While ecommerce giants like Flipkart, Amazon, and Meesho are vying for a larger share of the market. Flipkart already holds a 48% market share and a gross merchandise value (GMV) of around $29 billion in FY23, significantly ahead of Meesho's GMV of over $5 billion. 

It's worth mentioning that Meesho's core focus is on Tier 2+ cities, and unlike other marketplaces, it operates on a zero-commission model. It makes money through ads and selling services, which has led to a rise in revenue and a reduction in losses.