Snapdeal makes room for Housing CEO Jason Kothari

HYDERABAD: Online marketplace Snapdeal has appointed online real estate firm Housing.com's CEO Jason Kothari as its chief strategy and investment officer. His responsibilities will include leading strategy, corporate development, including all investments and strategic partnerships, raising new capital for the company, portfolio management and overseeing companies owned by or invested in by Snapdeal.

This news comes on the heels of a recent merger between Housing.com and News Corpbacked real estate brokerage firm Prop Tiger, creating one of the country's largest digital platform for property listings.

"I am excited to join Kunal and Rohit at Snapdeal during a defining period in Indian e-commerce that will shape the future of the Indian internet space," said Kothari. "Snapdeal is on its way to building one of India's best companies, and I look forward to helping make that potential a reality." As CEO of SoftBankbacked Housing.com, Kothari changed business strategy, hired new management team, reduced operating costs by 70%.

Raised additional $20 million from lead investor SoftBank, among other feats.

During his time with Housing.com, the company also won multiple awards for reputation management. "Jason is a strong business leader and entrepreneur who has already been the CEO of two successful companies," said Kunal Bahl, CEO of Snapdeal.

"Rohit and I welcome Jason to the Snapdeal family and believe we will achieve even greater heights with this addition."