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Journalism of Courage
Online grocery quick delivery platform Instamart’s head Karthik Gurumurthy Friday announced that he is stepping down from the position and going on a sabbatical. He will be replaced by Phani Kishan Addepalli, the co-founder of online food delivery platform Swiggy, the parent company of Instamart.
In a post on LinkedIn, Gurumurthy, Senior Vice President at Instamart, wrote, “I plan to take a sabbatical now to come back afresh and build something (0-1), something which I have loved… Live back and play back that memories of 2020 and 2021.”
“The business will be spearheaded by Phani Kishan Addepalli, a great leader and our co-founder who will take this to next orbit,” he added.
An IIM-Bangalore alumnus, Gurumurthy said his journey at Instamart began with three stores in Gurgaon, in 2020 during the Covid pandemic, which later expanded to multiple stores in several cities within six months.
“The business scaled, stores scaled, fruits & vegetables collection centers (the insane obsession that farmer produce must be provided to customers by 6 am next day)… we built all this. Today its a large business, almost a billion dollar business and am just humbled to see how big the business has grown to,” he said.
Gurumurthy said he will take a new role in Swiggy once he returns from the leaves. Before joining Instamart in 2020, Gurumuthy was associated with Cipla Health Ltd as Chief Sales Officer.
Phani Kishan Addepalli, who is also the CEO of Supr Daily, has been associated with Swiggy for eight years. Prior to Swiggy, he was working as a senior associate at Boston Consultancy Group.
Instamart competes with online food ordering platforms such as Zomato’s Blinkit, Zepto, and more.
Instamart parent firm Swiggy has recently laid off 380 employees as a part of a measure to cut down the expenditure.
