In a significant leadership change within India's competitive quick commerce sector, Blinkit's Chief Financial Officer (CFO), Vipin Kapooria, has stepped down from his position. He is set to return to his former employer, Flipkart, to take up a senior role in its finance division, according to a report by the Economic Times.
A Career Path Between Giants
Kapooria's tenure at the Gurugram-based quick delivery company lasted just over a year, having joined in September 2024. His move marks a return to familiar grounds, as he originally joined Blinkit from Flipkart, where he served as a Vice President of Finance. This upcoming assignment will be his third stint at the Bengaluru-based e-commerce giant.
His career trajectory at Flipkart began in 2015. He left for hospitality startup Oyo in 2018, only to return to Flipkart in 2020. His subsequent move to Blinkit in September 2024 positioned him as the company's first full-time CFO in two years, filling a vacancy that existed since 2022 when former finance chief Amit Sachdeva departed following Zomato's (now Eternal) acquisition of the firm.
Strategic Moves in a Heated Market
Kapooria's departure and return to Flipkart occur against a backdrop of fierce rivalry in the 10-minute delivery space. Flipkart entered the quick commerce arena in mid-2024 with Flipkart Minutes, directly challenging established players like Blinkit, Zepto, Swiggy's Instamart, and Amazon Now. Flipkart is concurrently preparing for a public listing next year and is in the final stages of shifting its domicile from Singapore to India.
For Eternal-owned Blinkit, Kapooria joined shortly before its parent company raised a substantial Rs 8,500 crore through a qualified institutional placement (QIP) last year. During his time at Blinkit, he worked closely with CEO Albinder Dhindsa and Eternal CFO Akshant Goyal.
Leadership Reshuffle and Sector Dynamics
The quick commerce sector has witnessed a flurry of fundraising activity and leadership changes. Swiggy raised Rs 14,500 crore via an IPO in November 2024 and a follow-on QIP. Zepto, backed by Nexus Venture Partners, has confidentially filed draft papers to raise Rs 11,000 crore through an IPO next year.
Flipkart has moved swiftly to fill its own leadership gap in quick commerce. Following the exit of Dunzo founder Kabeer Biswas from the helm of Flipkart Minutes in October, the company has now appointed longtime executive Kunal Gupta to lead the division. Gupta, who joined Flipkart in 2014 and currently leads its fashion business, will report to Hemant Badri, who oversees Flipkart Minutes and the supply chain. Biswas, who had joined Flipkart in January after Dunzo's shutdown, had reportedly been in discussions with Tata Group's BigBasket, which he denied earlier this year.
This series of high-profile moves underscores the intense competition and strategic maneuvering as companies vie for dominance in India's capital-intensive and rapidly evolving quick commerce landscape.
