Softbank’s Lydia Jett resigns from Snapdeal Board, Saurabh Jalan joins the board

Softbank Snapdeal

11 December 2017, India:

According to reports, Lydia Jett, Investor – Consumer Internet and eCommerce at Softbank Vision fund, has resigned from the the Indian eCommerce firm, Snapdeal’s board. Saurabh Jalan, an Investment Professional at Softbank Group US replaced Jett.

Jett joined Snapdeal board as an Additional Director in April. She is an MBA graduate from Stanford University. She has worked as an Invest Banking Analyst at J.P. Morgan and Principal Investment Area Associate at Goldman Sachs. She has been working at Softbank since 2015.

A resolution was passed in October and Saurabh Jalan has been appointed on the basis of that resolution. Softbank holds two seats at the board of Snapdeal.

According to regulatory filings of the eCommerce firm, Softbank Capital Managing Partner Kabir Misra has been promoted from the position of Additional Director to Director at Jasper Infotech. Jasper Infotech Pvt Ltd operates the eCommerce firm Snapdeal.

Misra joined the eCommerce board along Jett. Both Misra and Jett were appointed after Softbank COO (Chief Operating Officer) and Managing Director Jonathan Bullock resigned from Jasper Infotech, and ANI Technologies. ANI Technologies operated the Indian ride sharing platform OLA.

Till now, no official statement has been given from either side.

(Image – Topnews)