Udaan's FMCG business head, Vinay Shrivastava, has resigned amid a series of senior exits at the B2B e-commerce firm. Shrivastava, with nearly four years at Udaan, contributed to significant growth in market share and business. Udaan is restructuring its teams and business verticals, merging essentials with discretionary business. Shrivastava's departure follows the exits of the group CFO and other senior executives since September 2023. The company recently raised $340 million in Series E, but its valuation reportedly fell to around $1.8 billion in a down round.
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