How Mukesh Bansal landed at Tata Digital
The Curefit founder is expected to whip the conglomerate’s digital business into shape. Can he? And what happens to his fitness startup?
21 June, 2021•13 min
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21 June, 2021•13 min
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Editor's note: A lot has gone unexplained for a development as big as this one. Earlier this month, the Tata group announced the appointment of Mukesh Bansal as the president of Tata Digital. Bansal is the co-founder and CEO of fitness startup Curefit, which he currently runs in Bengaluru, and had earlier co-founded the fashion e-commerce company Myntra. In addition to the appointment, Tata Digital is in the process of investing $75 million in Curefit. While the company hasn’t disclosed it, the investment comes at the same valuation—$727 million—as Curefit’s last round in March 2020, according to a person aware of the development; Tata Digital’s investment amounts to about a 10% stake in Curefit. This is a strange development for multiple reasons and, as we said, much has gone unexplained. For one, the Curefit investment is being looked at as an important piece in Tata’s super app puzzle and the company’s plan to compete with the likes of Amazon India, Walmart-owned Flipkart and rival Indian conglomerate Reliance Industries. But for a company that has just started to figure out its digital play, …
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