Former Housing.com CEO Jason Kothari has been roped in by Snapdeal to head the e-commerce company’s strategy and investment operations, a day after the merger of the realty portal with PropTiger. Also Read - E-commerce rules draft dos and dont’s: No more flash sales on phones, other goods and moreAlso Read - Facebook will now make money from WhatsApp's in-app purchases
As Snapdeal’s Chief Strategy and Investment Officer, Kothari will work alongside co-founders, Kunal Bahl and Rohit Bansal, in this key leadership role, Snapdeal said in a statement. He will be joining Snapdeal on January 16, 2017, it added. Interestingly, Snapdeal and Housing.com are both backed by Japanese conglomerate SoftBank.
“Jason is a strong business leader & entrepreneur who has already been the CEO of two successful companies. Rohit and I warmly welcome Jason to the Snapdeal family and believe we will achieve even greater heights with his addition,” Snapdeal co-founder and CEO Kunal Bahl said.
Kothari’s responsibilities will include leading strategy, corporate development, including all investments and strategic partnerships; raising new capital for the company and portfolio management, overseeing companies that Snapdeal wholly owns or has invested in.
Kothari, on his appointment said: “Snapdeal is on its way to building one of India’s best companies, and I look forward to helping in making that potential a reality.” Yesterday, Housing.com announced merger with News Corp-backed real estate brokerage firm PropTiger and the joint entity raised $55 million from Real Estate Australia (REA) Group and Softbank. Under Kothari’s stewardship, Housing.com had changed its business strategy and plan, hired a new experienced management team, restructured and reduced operating costs by 70 percent going from 2,500 to 900 employees. ALSO READ: Non-metro cities account for nearly 60% of online sales: Snapdeal
Prior to joining Housing.com, Kothari was CEO and Vice Chairman of character-based entertainment company Valiant Entertainment.