Oyo's Rohit Kapoor is expected to lead the food delivery company Swiggy. Kapoor, the global chief marketing officer of OYO, is currently completing his notice term with the company and is reportedly planning to join Swiggy as the CEO of its food delivery division, reporting to Swiggy co-founder Sriharsha Majety.
Kapoor has been employed by the hotel chain for roughly four years. Prior to becoming the global CMO of the Gurugram-based company, he joined as the CEO of new real estate businesses, then rose to become the CEO of India and South Asia.
Kapoor is now serving his notice term, but will join Swiggy in the upcoming weeks. Swiggy aims to have many business leaders who ultimately answer to Sriharsha, the company's co-founder. The company previously lacked a CEO for the food delivery sector, according to sources.
His departure will probably occur at a time when OYO, along with a number of other late-stage businesses, has been preparing for its initial public offering (IPO), but has seen its preparations be delayed as a result of shifting investor attitude and correcting values.
Kapoor spent more than ten years working for consultancy company Mckinsey&Co. before joining SoftBank-backed OYO. Additionally, he briefly worked for Max India Limited and its affiliated companies. Swiggy has been going beyond just being a meal delivery service. Along with other businesses, it also runs the local delivery service company Swiggy Genie and its quick grocery division Instamart.
Swiggy, a decacorn firm with a value of at least $10 billion and SoftBank as a backer, is preparing for an IPO as well.