Wondering, why top executives are leaving established organisations to join new age start-ups? It would be surprising to know that as many as 50 top notch employees have taken this step in the last one year.
It might come as a shock that according to a number of reports, approximately, 543,000 start-ups are born every day across the globe. Indian internet companies like Flipkart, Snapdeal, Zomato, Paytm, Housing.com and Ola have seen a lot many ‘voluntarily exits’, only for them to kick start their own little baby ventures.
Here are some of the top executives who have knocked the EXIT door in the last one year and what they are doing now.
- Srinivas Murthy, the former senior VP for marketing left Delhi based e-commerce major Snapdeal in January 2016 to set up his own tech-enabled offline store, with a very little investment.
- The ex-VP of engineering at Snapdeal, Bhuuvan Gupta had quit in November 2015 to start his online marketplace of Business. He revealed to the media that his start-up already has over 100 employees doing business across 10 states currently.
- Flipkart has recorded some of the most unexpected ‘voluntarily exits’, where senior executives including former commerce and advertising business head Mukesh Bansal, former chief business officer Ankit Nagori, former senior director for retail Manish Kumar, and former chief people officer Mekin Maheshwari has left the online marketplace to start something of their own.
- Out of the lot, Bansal and Nagorihad teamed up to launch a healthcare and fitness start-up with $5 million of their own cash.
- The payments business head Rushil Goel and head of design Sunit Singh of OLA had left the taxi aggregator to launch a design startup.
- SwaminathanSeetharaman, ex-VP-engineering atOLA, left to cofound a startup with former colleagues Ganesh Subramanian and NitinAgarwalcalled Pianta.com.
- Zomato has seen their marketing heads Alok Jain and RameetArora quit within 10 months. Jain has started an on demand food venture Yumist. The Gurgaon-based company's (Zomato) Chief Product Officer left within a year of joining the firm to launch Ariveda- a manufacturing unit that makes personalised air quality monitors.
A combination of factors behind this move
When unicorns decide to take the bold step of quitting well established organisations to venture into their own startups, it clearly becomes an alarming situation for the company’s investors. Industry’s investors and head hunters have attributed this to a combination of factors- value proposition from the CEOs, high aspiration levels of individuals and the desire of the person to fully utilise its underused talents and skills. Start-ups are not only offering recognition but also the freedom and open culture to pursue goals in a non-traditional way.
Here are some of the WARNING SIGNS which may give you a heads-up to see your employees taking the exit door soon.