Jason Kothari, who joined Infibeam as a president has called it quit just after five months. In the official filing with the Bombay Stock Exchange, the company said that Jason Kothari has stepped down to “spend more time abroad due to personal reasons.”
However, the company also clarified that he will continue at Infibeam as a Senior Advisor. Prior to joining Infibeam, he was with Snapdeal for a year and a half as Chief Strategy and Investment Officer. Jason Kothari was also the CEO of Housing.com from 2015 to 2017 and served as a board member.
Last year, he also served as the CEO and a board member of Freecharge. He also played an instrumental role in offloading all of Snapdeal’s major assets, including logistics unit Vulcan Express, digital payments platform FreeCharge and SaaS company Unicommerce.
Infibeam witnessed its shares plunging 73 percent after it was revealed that the company had given interest-free and unsecured loans to one of its subsidiary units.
Infibeam, founded in the year 2007 by Vishal Mehta, runs an e-commerce platform and has offices in Ahmedabad, Delhi, Mumbai, and Bangalore. It became India’s first e-commerce company to file an IPO in July 2015 and currently employs around 1,300 people.
It also runs CCAVenue, which is India’s largest payment gateway by transactions. Earlier this year, Infibeam acquired Snapdeal’s wholly owned subsidiary Unicommerce – a Cloud-Based E-Commerce Order Management Software for ₹ 120 crore.
