The board of directors of Seventymm Services Pvt Ltd, the company that owns and operates e-commerce site Seventymm.com, has named Bhawna Agarwal as the company's new chief executive officer. Earlier, she was serving as Seventymm's chief operating officer (COO) and played a key role in strengthening the business metrics and re-focusing the e-commerce business.
In her new role, Agarwal will be responsible for the overall strategy and direction of Seventymm's business. Her appointment comes in the wake of Mudit Khosla (the former CEO) stepping down from his position.
"Seventymm is well poised for continued growth and profitability in the e-commerce marketplace. We are happy to welcome Bhawna, a hands-on leader with strong expertise in the Indian digital commerce industry, as CEO on board," said Vani Kola, managing director of IndoUS Venture Partners (India), one of the investors in the company.
Agarwal has more than 14 years of leadership experience in leading internet companies and startups in India. Before joining Seventymm, she was a founding member of the management team at Yatra.com, an online travel agency. Prior to that, she had held various key positions such as business head of Times Internet Ltd and manager at Rediff.com. Agarwal holds a B.Sc. in Chemistry from the Delhi University and an MBA in Marketing from the Institute of Management & Technology, Ghaziabad.
Bangalore-headquartered Seventymm was founded by serial entrepreneur Raghav Kher back in 2006. It started as an online DVD rental company, but due to rampant DVD piracy, lack of logistics infrastructure in India and the growing popularity of torrents (widely used for free movie downloads), the firm completely phased out its DVD rental business and pivoted to become a pure e-commerce site.
The company has raised $21.4 million in funding from venture capital firms Draper Fisher Jurvetson, ePlanet Ventures and IndoUS Venture Partners, and also has offices in Delhi and Gurgaon.
(Edited by Sanghamitra Mandal)