Flipkart appoints Prathyusha Agarwal as vice president of Shopsy

E-commerce

• ByStartup History | May 24, 2024

Walmart-backed e-commerce giant Flipkart has appointed former BYJU executive Prathyusha Agarwal as vice president of its value commerce platform Shopsy. This strategic move is part of a broader change in Flipkart’s senior management as the company prepares for its initial public offering (IPO).

Agarwal, an alumnus of IIT Madras and IIM Ahmedabad, brings a wealth of experience to her new role. From February 2022 to October 2023, she served as Business Director at BYJU’S, and then served as an advisor to the Venture Board at Zydus Digital Health Solutions. Initially, reports suggested she was hired as Shopsy’s CEO, but sources have now confirmed her position as vice president.

Launched in 2021, Shopsy started as a social commerce platform targeting sellers in smaller cities, allowing them to place orders on their network and earn commissions. Since then, the platform has focused on direct-to-consumer purchases, which has resulted in significant growth. Between January and March 2023, Shopsy served over 16 million customers. Operating on a commission-free marketplace model, Shopsy aims to democratize high-value commerce in India.

Flipkart’s leadership changes also saw Jupiter Money’s Anuj Rathi appointed as CEO of Cleartrip, another Flipkart subsidiary. These appointments are seen as key steps in Flipkart’s IPO preparations. While an IPO is not expected in 2024, the company is closely watching successful domestic consumer IPOs and is prioritizing profitability.

Walmart, which holds an 85% stake in Flipkart, has seen impressive advertising profits on the platform. Moreover, Flipkart’s contribution had a significant impact in increasing Walmart’s international sales.

In a related investment, Flipkart is reportedly considering moving its headquarters from Singapore to India as part of its IPO strategy, although no final plans have been announced yet.

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