Nearly after two years when Paytm, India’s largest digital payment platform, acquired Nearby, a deals marketplace, Ankur Warikoo, CEO at Nearbuy announced that he will step down from the role in November this year, and will continue with Nearbuy as a shareholder and board member, reported Yourstory.
In the post, Warikoo said that the co-founder of Nearbuy will take over the management of the company as the CEO and COO, respectively.
“It’s been such a pleasure and honour leading the company for all these years. I am so proud of the team we have built, the culture we have established, and the relationships we have formed in the ecosystem,” Warikoo said.
In December 2017, Paytm acquired Nearbuy and Little, and invested in the merged entity.
Nearbuy was founded by Ankur Warikoo, Ravi Shankar, and Snehesh Mitra in 2015. The platform enables customers and local merchants to discover and engage with each other, claims to be present in more than 35 cities across 18+ categories.
Vijay Shekhar Sharma, Founder & CEO of Paytm, said, “This combination of Nearbuy and Little marks a great opportunity for us to reinforce our commitment to support small and large retailers in the new-age of mobile commerce and payments.
Currently, Nearbuy claims to have over 50,000 merchants across more than 100,000 unique locations.