Just Dial loses second CTO in a year

25 Oct, 2016

Online local business search service Just Dial's chief technology officer RV Raman has left the company. Raman, who took over as CTO in January this year, resigned last week, according to a note the company has sent to the stock exchanges.

Just Dial has thus seen exits of two technology heads successively in a year. Raman's predecessor Sandipan Chattopadhyay stepped down in December last year.

Raman, a former vice president, engineering at Forus Healthcare Pvt. Ltd joined Just Dial in September last year as deputy chief technology officer. When asked whether the firm appointed a new CTO, the company spokesperson declined to comment, citing a silent period ahead of its quarterly results. The BSE-listed firm will announce its second quarter results on Wednesday.

While Raman's stint was rather short, Chattopadyay spent seven years at Just Dial overseeing its digital expansion. He is currently involved in running a bunch of early stage tech companies.

Just Dial, founded by VSS Mani, is one of a few digital businesses to get listed. It saw its stock price peak at Rs 1,800 two years ago. It then declined sharply and hovers around Rs 450 now as it saw sluggish growth during successive quarters. The company, which went for an IPO three years ago, currently has a market cap of Rs 3,119 crore.

Earlier this year, Sequoia Capital MD Shailendra Singh and SAIF Partners managing partner Ravi Adusumalli had resigned from Just Dial board. Sequoia holds around 10% stake in Just Dial through its various funds while SAIF holds 8.6%, according to the shareholding pattern released in September.