Ola Electric CMO Varun Dubey latest to quit, days after CTO exit
- ByStartupStory | May 12, 2022
Varun Dubey, Chief Marketing Officer of Ola Electric, resigned for personal reasons a few days after CTO Dinesh Radhakrishnan departed on a series of top-level departures.
Last week, Moneycontrol reported that Arun Sirdeshmukh, CEO of SoftBankbacked Ola’s car trading, and Amit Anchal, head of corporate strategy, have left the company and have marked an important exit as they suffer from delays in listing plans. Electric scooter.
An Ora spokesman confirmed that he was leaving for personal reasons. Until a few months ago, Duby was the face of the company, answering media inquiries and criticisms about vehicle delivery and quality. However, sources say he hasn’t been to work for the past few weeks.
These departures also occur when Ola’s security guards change significantly as founder and CEO Bhavish Aggarwal retires from day-to-day operations and focuses on technical functions, team building, and products. Occurs. -Long-term strategic projects such as motorcycles, automobiles, rapid trade and innovation in international expansion. GR Arun Kumar, who joined us within a year and is now the Group CFO of Ora and the CFO of Ora Electric, is currently overseeing the day-to-day operations of the entire group.
Moneycontrol also reported recently that Ola, which was planning to list on the public markets this year, now plans to raise a new round of funding at a lower valuation, signifying a sharp reversal in fortune for startups, after a record 2021 that saw skyhigh valuations in the public and private markets.
We haven’t received a $ 500 million loan from investors late last year, awaiting RBI approval. The Ola was finally valued at $ 7.3 billion when it raised $ 139 million in a Series J round led by Edelweiss PE, IIFL and Sunil Munjalled Hero Enterprises. This seems to be the last round of funding before the release. Prior to $ 139 million, it raised $ 500 million from Warburg Pincus and Temasek, giving early supporters Tiger and The Matrix a partial withdrawal from the company. Founder and CEO Bhavish Aggarwal previously stated that Ola will be available in the first half of 2022.
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