Zomato-Backed Startup Magicpin: Co-Founder Brij Bhushan’s Exit and What It Means

In a significant development, Magicpin, the hyperlocal e-commerce startup backed by Zomato, bids farewell to one of its co-founders. Brij Bhushan, who co-founded Magicpin in 2015 alongside Anshoo Sharma, recently announced his decision to step away from the company. As a journalist, let’s delve into the details of this departure and its implications.

The Rollercoaster Journey

Bhushan’s LinkedIn post reveals a nine-year journey filled with highs and lows. He describes it as a “rollercoaster,” emphasizing growth, challenges, and profound learnings. Now, he believes it’s time to take a step back, leaving Magicpin in capable hands.

Magicpin’s Resilience Amidst Adversity

• Covid-19 Resilience: When the pandemic threatened Magicpin’s existence, the team fought back. They created a home delivery system from scratch, supporting local retailers during their most challenging times.
• ONDC Power: Their initiative, now integral to the Open Network for Digital Commerce (ONDC), goes beyond survival. It reflects their commitment to the community—a fulfilling achievement.
• Financial Growth: Magicpin’s operating revenue witnessed a remarkable 59.6% increase in FY22, reaching Rs 233 crore¹.
• Leadership Transition: Bhushan’s departure led to reassignments within the organization. Key functions now report to other leaders, ensuring continuity.

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Bhushan’s Parting Words

“As I pause to recharge,” Bhushan writes, “I leave knowing Magicpin is in the best hands, grateful for every moment.” His next steps remain undisclosed, but his legacy at Magicpin will endure.

Future Prospects

Magicpin, with its recent institutional funding round led by Lightspeed India and Zomato, continues its mission to empower local retailers. Bhushan’s exit marks a transition, but the company’s commitment to innovation and community remains unwavering.

In the ever-evolving landscape of e-commerce, Magicpin’s journey continues, driven by resilience, vision, and the spirit of entrepreneurship. 🛒🚀