Bangalore-based Myntra Designs Pvt Ltd, which runs the fashion and lifestyle e-commerce site Myntra.com, has appointed Prasad Kompalli as its first chief strategy officer. In his role, Kompalli will set up and head the corporate strategy and business analytics team at Myntra.
"What drove me to take up this role here is the company's vision to build a world class platform leveraging the full potential of technology," said Kompalli.
Prior to joining Myntra, Kompalli co-founded Indus Bionics Systems and Technologies Pvt Ltd, a company for developing active medical implants for emerging markets. Before that he was the senior vice president, technology development, at SAP Labs India Pvt Ltd, a company where he has earlier held various strategy and management roles. Kompalli, who holds a bachelor's degree in technology, computer science and engineering degree from the National Institute of Technology, Warangal, also has a publication in Institute of Electrical and Electronics Engineers (IEEE) about large scale transnational software development.
"Kompalli brings 15 years of leadership and strategy experience from senior management roles in technology companies. In this role, he will be driving various new initiatives, charting the long term business strategy and operational alignment to the overall strategy in helping Myntra become dominant and profitable," Mukesh Bansal, CEO and co-founder, Myntra, said.
Myntra is one of the heaviest-funded players in the e-commerce business, having raised around $40 million since it started operations in 2007. In February 2012, the company raised $20 million in a Series C funding, led by Tiger Global. Previously, it had raised $14 million in its second round of funding from Tiger Global and the then existing investors IDG Ventures and Indo-US Venture Partners. In November 2008, Myntra got $5 million in Series A funding from NEA-IndoUS Ventures, IDG Ventures and Accel Partners. It had also received seed funding from Accel Partners (formerly Erasmic Venture Fund), Sasha Mirchandani (from Mumbai Angels) and another angel investor in October 2007.
In November 2012, Myntra had appointed Shamik Sharma as its chief product and technology officer for driving its overall technology strategy.