Bengaluru-based car rental platform Zoomcar has roped in former executive of Flipkart and Hindustan Unilever, Adarsh Menon, as its president to lead the startup’s entire business and operations.
With 22 years of experience, Menon has worked with Flipkart for 8 years and 12 years with Hindustan Unilever. At Flipkart, he was heading all the new businesses of the startup – ClearTrip (Travel ECom), Shopsy (Hypervalue ECom) and ReCommerce (Used Goods ECom).
Earlier, Menon led various M&As and also helped in scaling multi-billion-dollar businesses. Besides, he has experience in leading cross-functional teams and solving complex business problems associated with growth, the company said in a statement.
The development comes days after Zoomcar got listed on the Nasdaq following the completion of a special purpose acquisition company (SPAC) merger. The Bengaluru-based firm announced the completion of a business combination with Cayman Island-registered SPAC, Innovative International Acquisition Corp. (IOAC), on December 28.
The new entity, Zoomcar Holdings, Inc started trading on Nasdaq on December 29.
Founded by Greg Moran and David Back in 2013, Zoomcar is a marketplace for renting self-driving cars. The startup’s community connects hosts with guests, who choose from a selection of cars for use at affordable prices, promoting sustainable, smart transportation solutions in growing markets.
In October last year, Inc42 reported that Zoomcar was eyeing a listing on Nasdaq through a SPAC deal. Prior to that, in 2022, Zoomcar inked a merger pact worth $456 Mn with SPAC, or blank check firm, IOAC to list in the US.
Commenting on Menon’s appointment, Moran said, “Adarsh’s diverse skillsets and seasoned leadership will play an instrumental role in continuing to scale our business. I am confident that in his new role he will help excellently position the company as we embark on reaching new heights for our emerging market-focused peer2peer car sharing platform.”
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