• Snapdeal CEO Kunal Bahl’s letter to employees on Nikesh Arora’s resignation

    Seems the news of Softbank CEO Nikesh Arora’s sudden resignation from the company created a bit of unrest in the Gurugram-based startup Snapdeal.

    SoftBank is the largest shareholder in the online marketplace Snapdeal, holding over 30% stake in the company. As the company’s founder and CEO Kunal Bahl sent out a letter to employees assuring them that Arora’s exit will not have an adverse impact on Snapdeal.

    Here’s the letter (verbatim) sent by Bahl to employees across the company.

    Dear Team,

    Many of you would have read in the news today about Nikesh’s departure from SoftBank. Needless to say, it comes as a surprise for the world at large. Nikesh has been making all of us very proud throughout his career at Google and SoftBank. He has also been a great supporter of Snapdeal, and many other startups in the Indian internet ecosystem. I am quite confident that his next wil be a very positive one, and we all wish him supreme success in his future endeavours.

    While Nikesh’s departure from SoftBank is a loss, I want to assure everyone that we continue to be fully supported by SoftBank, strategically and financially. So, don’t worry too much about this, Nikesh will continue to be involved with advising us in all our key initiatives, as he has been doing over the last 18 months. Masa-san, SoftBank’s Founder and CEO, has assured me of SoftBank’s complete support in all our initiatives, in the same exact way that they have been supportive since the time they made their first investment.

    Needless to say, our focus doesn’t change with this news. We have to sharply continue our efforts to build the most reliable and frictionless commerce ecosystem in India, and create massive impact for our country. And for that, we have all the support that we need from SoftBank and all our shareholders.

    Once again, congratulations to everyone on all the progress we are making! We are doing really well. Let’s just keep ROCKING! Michael Palardy Authentic Jersey

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