Swiggy Appoints Amitesh Jha as Instamart CEO, Phani Kishan Addepali Shifts to Strategic Role

IPO-bound Swiggy has reportedly appointed Flipkart's senior vice-president and head of grocery Amitesh Jha as the chief executive of Instamart. This is as per Moneycontrol.

The appointment was reportedly confirmed by an email sent by Swiggy co-founder and group CEO Sriharsha Majety.

Phani Kishan Addepali is set to make way for Amitesh Jha to head the company's quick commerce vertical.

Addepali will reportedly take up an organisation-wide role initiatives at the food start-up.

He (Phani) took on the IM CEO role (at Instamart) last year when I asked him to (as he always has for key challenges), and has over the last year steered Instamart from strength to strength by significantly improving the consumer experience and profitability…” Majety reportedly said in the email as per ET.

Amitesh Jha has been at Flipkart for about 14 years. He joined the e-commerce firm in 2010 taking various leadership roles by rising through the ranks, including the logistics division Ekart and the value-products-focused unit Shopsy.

He also had stints with three other companies in various sectors over six years.

Previously there were media reports that Instamart at this stage of its business was looking for someone who has in-depth experience in handling product categories and Jha was seen as one among the many few who fit the bill.

Recently, the grocery delivery firm was valued at $11.5 billion as of June by its investors 360 one WAM, formerly known as IIFL Wealth Management, as per the investor's presentation shown to ET.

Swiggy reportedly achieved Rs 7,474 crore in revenue in the first half of fiscal 2024, which equates to Rs 14,947 crore on an annualised basis for the year through March, as per the investor's presentation.

Swiggy raised funds at a valuation of $10.7 billion in January 2022. It had reportedly filed its documents with the Securities and Exchange Board of India (SEBI) for an IPO of Rs 10,400 crore confidentially.