Swiggy Instamart Appoints Amitesh Jha as CEO

Amitesh Jha was appointed as the Chief Executive Officer of Instamart, Swiggy's quick commerce operation.

Phani Kishan, the current CEO of Swiggy Instamart and co-founder of Swiggy, will assume a wider organizational-wide role. Kishan will be responsible for the company's central growth unit and will work closely with and report to Swiggy Group CEO Sriharsha Majety.

Jha has accumulated more than twenty years of experience in product development, strategy, and operations for several of India's most renowned organizations. Before joining Swiggy Instamart, Amitesh Jha was employed by Flipkart, where he played a critical role in the mainstreaming of e-commerce and Flipkart in India.

This is the second high-level appointment made by Swiggy Instamart in August. Sairam Krishnamurthy was appointed as the firm's Senior Vice President (SVP) and Chief Operating Officer (COO) earlier this month.

Amazon is purportedly in negotiations with Swiggy to acquire the latter's fast commerce business at the time of the appointment. Amazon is also considering entering the fast commerce sector in India in the near future.

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Instamart occupies the second position among quick commerce companies, with a market share of 20-25% as of July. Currently, Blinkit, which is owned by Zomato, holds a 40-45% stake of the sector. Zepto and BigBasket have shares of 15-20% and 10-15%, respectively.

Swiggy, which is preparing to submit its IPO papers to SEBI in the first week of September, was recently appraised at $14.74 billion by its U.S. investor, Baron Capital.

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