Mukesh Bansal Resigns From Daily Operations At Tata Neu: Report
- ByStartupStory | January 3, 2023
According to reports, Tata Digital president Mukesh Bansal has opted to move aside from day-to-day operations at Tata Neu, the super-app under Tata’s digital division.
Bansal, co-founder of fashion e-tailer Myntra, joined Tata Digital in June 2021.
According to the sources, he will no longer be involved in Tata Neu’s core activities, but he may continue to serve as an advisor. Tata Neu is attempting to develop itself in the e-commerce industry, competing against more established firms such as Amazon India and Walmart-owned Flipkart.
All of Tata Digital’s e-commerce products may be found in one place on the super-app, according to critics. Other Tata-affiliated businesses including Titan, Tanishq, Tata Cliq, Croma, AirAsia, and 1mg are represented by their products.
According to those who are currently or have previously worked for the company, Prateek Pal, CEO of Tata Digital, oversees all significant decisions at the company.
According to a person working directly, the corporation aims to manage unit economics and expansion at the same time.
“The difference in approach on how to scale a new internet business played a role in these internal changes,” Economic Times was told.
Tata Digital is still primarily funded by Tata Sons, despite having started discussions with notable investors. Bansal was anticipated to be a key player in the acquisition of new funding.
In 2016, Bansal and former Flipkart executive Ankit Nagori established Cultfit. It was once known as Curefit, and the Tatas owned a small portion of it. The majority of Cultfit is currently run by Naresh Krishnaswamy, who was formerly affiliated with Myntra.
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