Rohan Verma, the CEO of MapmyIndia, will Quit to Launch New B2C Business

Nitin Konde, Varun Bhardwaj

Dec 3, 2024 — 2 min read

Rohan Verma Steps Down as MapmyIndia CEO to Start B2C Venture

The geotech business MapmyIndia revealed that Rohan Verma, its chief executive and executive director, will be leaving his position in March of next year, only weeks after the company's second quarter results were released. As of March 31, 2025, Verma will no longer serve as the company's CEO and full-time director. In a regulatory filing, the business stated that he will remain a non-executive director on the board. Verma is leaving his position to start a new business-to-consumer venture. The board of MapmyIndia has now authorised an INR 10 Lakh initial investment to purchase a 10% ownership in the new venture, with plans to invest an additional INR 35 Cr (more than $4 Mn) in it.

Proposal from the Board of MapmyIndia

The company also stated in the filing that the board had decided to invest INR 10,00,000 to purchase a 10% stake at face value of INR 10 per share and to invest an additional INR 35 Cr in the form of compulsory convertible debentures (CCDs) in the new company that Rohan Verma would be forming. According to his LinkedIn page, Verma has been the company's CEO for about six years and has approximately twenty years of expertise altogether.

Notably, he has been employed by MapmyIndia since 2004 in a variety of managerial roles. In the past, he has also worked with multinational companies like McKinsey and Company and Microsoft. Rakesh Kumar Verma, the chairman and managing director, will continue to serve as MapmyIndia's leader in the interim. The board of the Delhi NCR-based business has also authorised investments of INR 2 Cr to purchase a 19.84% stake in location intelligence platform Kaiinos Geo Spatial Technologies Private Ltd. and INR 3 Cr to purchase a 9.37% stake in automotive SaaS platform SimDaaS Autonomy Private Ltd.

Current Statups Leadership Scenario in India

This change occurs as a number of startup companies have recently undergone leadership shakeups. For example, Amit Kumar, the managing director and CEO of online classifieds platform OLX India, resigned a few weeks ago after seven years in that position, and Sidharth Malik, the global CEO of CleverTap, a startup focused on customer engagement and retention, also resigned.

In addition, Mayank Kumar, the managing director and cofounder of the edtech unicorn upGrad, left his leadership position in October to start a new business. In terms of finances, MapmyIndia's net profit decreased by 8% to INR 30.35 Cr in the quarter that ended in September 2024 (Q2 FY25) from INR 33.09 Cr in the same period last year. In the meantime, operating revenue increased 14% from INR 91.08 Cr in Q2 FY24 to INR 103.67 Cr in the reviewed quarter.