Meru Cabs’s CEO Siddhartha Pahwa resigns
Siddhartha Pahwa, Chief executive officer of Meru, popular taxi aggregator resigns from the company after five- year stint.
Pahwa wrote on twitter that it was most enriching experience working at Meru .
Pahwa told to media that he will be working on his own ventures after a short break. “I have spent good five years at Meru. It is now a stable company with cash-break even and is growing profitably. Currently, I’ll take a short break and after that I will work on few venture ideas that I have in mind,” said Siddhartha Pahwa.
His role would be taken over by Meru’s chief technology officer Nilesh Sangoi by January next year.
Meru cab was the first taxi aggregator to introduce carpool service in India. In order to compete with Ola and Uber’s low cost cab service, Meru introduced genie service in eight cities Bengaluru, Delhi, Hyderabad, Mumbai etc.
Meru had received series of funding early this year. From Times of India Group’s Brand Capital, Meru received ~$25 million to strengthen its base; from existing investor India Value Fund Advisors, Meru had raised $50 million in May 2015.