Snapdeal hires Ashish Jain as Sr VP of M&A

Snapdeal has roped in McKinsey and Company executive Ashish Jain as its Senior Vice President of investor relations and mergers and acquisitions integrations. Experts point out that this move comes at a time when most online majors are looking at acquiring companies to strengthen their talent, technology and backend services.

For instance, Snapdeal, in April acquired online recharge and payments platform Freecharge, for 400 dollars-450 million dollars (Rs 2,600 crores – Rs 2,933 crores). Other deals included acquisition of mobile commerce start-up Martmobi, Silicon Valley-based, programmatic display advertising platform Reduce Data, and mobility solutions start-up Letsgomo Labs.

Before joining Snapdeal, Jain served as associate partner with McKinsey, and was based out of Singapore, where he was responsible for defining strategies and M&A for technology, media and telecom companies across Asia, according to the press release. Before joining McKinsey, Jain was director, business development, M&A, strategy and performance management for Telenor's Asia operations based out of Bangkok.

Earlier this month, Snapdeal appointed Anup Vikal as its new Chief Financial Officer and in July, it brought Procter & Gamble (P&G) senior executive Amit Choudhari as its Senior Vice President - Corporate Finance, while in April, Unilever executive Vivek Patankar joined as Sr VP - Finance.