Bureau:

B2B platform Udaan recently said it is moving to a CEO-led structure with co-founder Vaibhav Gupta assuming the role of chief executive as the B2B e-commerce platform looks at becoming a publicly listed entity in the next 18-24 months.

The other two co-founders, Amod Malviya and Sujeet Kumar, as board members will actively work with Gupta to “ensure that the organisation effectively transitions to a CEO-led structure for continued success”, a statement said.

“The plan, that involves a CEO-led and board driven organisation, envisages building Udaan as a future-ready organisation with an aim to capitalise on the enormous growth opportunity that the Indian e-commerce market offers,” the statement said.

As Udaan embarks on its next leg of growth, the company has decided to move to a CEO-led and board driven structure that will enable the organisation to evolve, scale-up and achieve its growth ambitions, it added. “This is also in line with the evolution needed for Udaan to become a publicly listed entity over the next 18-24 months,” it noted.

A stellar response to Zomato’s IPO, and a profitable listing in July has prompted a number of internet-led businesses to make a beeline for this route. A number of internet-led businesses, including Paytm, MobiKwik and PolicyBazaar have filed for IPOs while companies like Droom have stated their intent to get listed soon.

Udaan co-founder and CEO Vaibhav Gupta said Udaan has come a long way in the last five years, creating not only the B2B e-commerce industry in India but also a playbook that is now being emulated in other developing economies.

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