MyGate Appoints Abhishek Kumar as CEO Amid Top Deck Rejig
- ByStartupStory | April 3, 2024
In a strategic move to fortify its leadership structure, MyGate, the pioneering community management app, has announced the appointment of Abhishek Kumar as its new Chief Executive Officer (CEO). Co-founder and former CEO Vijay Arisetty will transition to the role of Chairman of the company’s board. The reshuffle also sees co-founder and Chief Technology Officer Shreyans Daga undertaking additional responsibilities spanning product development, technology, and spearheading new business initiatives.
Reflecting on the transition, Vijay Arisetty remarked, “As I transition into the role of Chairman, I reflect with immense pride on the journey of MyGate thus far. Abhishek’s pivotal role in fostering a culture centered on people-first principles and driving efficient, scalable execution has been instrumental to our success.”
The changes within the top leadership team come in response to recent departures of core employees, including Suraj HS, former manager of new initiatives, who left to embark on a new venture, Aurm, focusing on bank locker security.
Commenting on the future trajectory, Arisetty expressed confidence in the leadership team, stating, “With Abhishek, Shreyans, and our dedicated leadership team at the helm, I am confident that MyGate is primed to expand our current business ventures and explore new verticals in the years ahead.”
The elevation of Rohit Jindal to the position of Chief Business Officer (CBO) in October underscores the company’s commitment to nurturing internal talent. Jindal, previously serving as the business head, brings a wealth of experience to his new role.
On the financial front, MyGate revealed robust performance, boasting a revenue exceeding Rs 100 crore in FY24, marking a growth of approximately 30 percent from the previous fiscal year. The company attributes this growth to subscriptions from Resident Welfare Associations (RWAs) and strategic advertising partnerships. However, detailed financial results for FY24 are pending submission to the Ministry of Corporate Affairs.
With a solid foundation and ample capitalization, MyGate asserts its readiness for the next phase of growth. The company’s statement indicates its service now caters to over 4 million families, facilitated through its extensive network of RWAs and advertising collaborations.
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