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Snapchat CFO Drew Vollero Steps Down, Replaced By Amazon Exec Tim Stone

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Snapchat CFO Drew Vollero steps down,Amazon Exec Tim Stone,Startup Stories,Startup News India,2018 Latest Business News,Snap CFO Vollero to Leave,Messaging App Snapchat,Snapchat Chief Financial Officer,Snap First CFO,Google Cloud,Amazon Web Services Cloud,Snapchat Latest Updates

According to reports, the famous multimedia messaging app Snapchat’s Chief Financial Officer (CFO,) Drew Vollero is going to leave the company next week. The position will be replaced by the electronic ecommerce Amazon’s Senior Executive, Tim Stone.

Tim Stone has been the vice president of Finance at Amazon since 1998. He is all set to take over the CFO’s position of Snapchat on 16 May, 2018. He is going to report to the Chief Executive Officer of Snap Inc., Evan Spiegel.

Drew Vollero on the other hand has been with Snapchat for three years. He originally joined as VP of Finance, and was always expected to become the CFO eventually, which did not really happen. He played a key role in leading Snapchat through a successful initial public offering in 2017. However, Snap stock, since the last year has been on a downward spiral. The company also missed its revenue and user growth targets on several occasions. Previous year, Snapchat proudly announced a complete overhaul of the app, which as we all know was widely disliked by the majority of the users. From celebrities to teenagers, everyone expressed their dislike toward the app post the changes. It has been running through a rough phase lately.

As of now Snap is struggling to reach its expenses with Google Cloud and Amazon’s Web Services Cloud (AWS) and its AWS costs are going to increase by $75 million a year until 2021. Spiegel commended Vollero’s “contributions to the growth of Snap,” in a statement. He further added, “He (Vollero) has done an amazing job as Snap’s first CFO, building a strong team and helping to guide us through our transition to becoming a public company. The discipline that he has brought to our business will serve us well into the future. We wish Drew continued success and all the best.”

Vollero also made a statement “I am proud of all that the finance department has accomplished leading up to the IPO and work done to streamline the company.Mr. Vollero will continue to remain as an adviser to help with the transition until August 15, 2018.

 

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₹290 Crore Boost: Rozana’s Series B Funding Scales Rural Retail Network Nationwide

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Rozana, India’s leading rural retail platform, has secured ₹290 crore ($35 million) in a Series B funding round led by Bertelsmann India Investments (BII), with participation from Omidyar Network India, Vivid Capital, and Tana Investment Holding. This Rozana funding brings its total capital to over ₹500 crore, fueling hyperlocal expansion in underserved rural markets. Founded in 2021 by brothers Prashant and Prateek Chauhan, the startup’s phygital model blends micro-stores, app-based ordering, and last-mile delivery to connect 5 million+ users in 12 states with brands like ITC and HUL.

The ₹290 crore investment will supercharge Rozana’s rural omnichannel retail strategy, targeting 5x growth in 18 months. Plans include adding 5,000 micro-stores in Uttar Pradesh, Bihar, and Rajasthan; AI-powered inventory tech; and new categories like groceries and electronics. By empowering 20,000+ rural micro-entrepreneurs, Rozana taps into India’s $700 billion rural retail boom, where smartphone penetration and UPI drive 12% annual growth.

This Rozana Series B milestone positions it as a frontrunner against rivals like Ninjacart, eyeing unicorn status by 2028 amid ONDC tailwinds. CEO Prashant Chauhan emphasized, “We’re building rural prosperity through accessible premium brands.” For more on Rozana funding news and rural retail trends, stay updated on India’s startup ecosystem.

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Peak XV New Funds: $1.3B Commitment for India Startup Surge 2026

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Peak XV Partners has launched three new funds totaling $1.3 billion, targeting India’s booming startup ecosystem. The lineup features the $600M Surge fund (8th edition) for early-stage ventures, a $300M Growth Fund for Series B+ scaling, and a $400M Acceleration Fund for rapid portfolio expansion. This commitment arrives as India’s VC inflows rebound, with AI and fintech leading 2026 trends.

These funds build on Peak XV’s legacy of backing unicorns like Zomato and Pine Labs, offering founders capital plus strategic guidance amid post-winter recovery. Early-stage deals surged 20% last year per Tracxn, positioning Peak XV to fuel the next wave of innovation in SaaS, climate tech, and consumer plays.

For startups eyeing Peak XV new funds or Surge fund 2026 applications, this signals prime opportunities. Investors and marketers should watch for deployment updates India remains a global VC hotspot.

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D2C Brand Neeman’s Raises $4 Million for Tier 2/3 Store Expansion & Eco-Friendly Shoes

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Hyderabad, January 13, 2026 Neeman’s, India’s leading D2C footwear brand famed for sustainable shoes and patented PIXLL® technology, has raised $4 million from existing investors. This funding boosts its cumulative capital past $10 million since 2015, with a post-money valuation nearing $50 million. CEO Vijay Chahoria emphasized offline retail as the “next frontier,” planning 50+ new stores in Tier 2/3 cities like Jaipur and Lucknow to blend eco-friendly innovation with hands-on customer experiences.

In India’s booming D2C ecosystem where footwear sales hit ₹1.2 lakh crore in 2025 Neeman’s targets hybrid retail amid high online CAC and 25-30% returns. Backed by vegan, machine-washable shoes priced ₹2,000-4,000, the brand leverages PIXLL® (5x more breathable than leather) for carbon-neutral comfort. Recent 5x revenue growth to ₹100 crore ARR, 1M+ pairs sold via Myntra and stores, and awards at India D2C Summit 2025 position it ahead of rivals like Paaduks.

Neeman’s offline expansion India eyes the $15B sustainable footwear market by 2028, fueled by PLI schemes, Gen Z’s 70% eco-preference (Nielsen), and Southeast Asia exports. Challenges like real estate costs are offset by data-driven inventory and omnichannel QR tech. Watch for Q1 2026 launches in Hyderabad and Bengaluru redefining D2C success through authentic, “Wear the Change” branding.

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