Krithika Nelson quits Shopo.in, co-founder takes over as CEO. Are niche marketplaces in trouble?
Nelson wrote on the Shopo blog that the past 3 months have been tough on her health and it doesn’t look like its going to ease out any soon.
I was recommended a lifestyle change as well as a longer medical leave. The team tried a bunch of ways we could work around this but being a co-founder and away from action was going to be hard. It is with a heavy heart today that I will be stepping down from CEO position to let the team focus on what is truly important while I take care of getting back in good health.
Theyagrajan, the other co-founder of Shopo will take over as the Chief Executive of the company. Its’ been
almost seven days over 3 months since her last day at Shopo, said the blogpost on February 2.
While this could be a perfectly normal departure, we have learned from sources that the niche online handicrafts companies aren’t doing too well. Craftsvilla, another niche marketplace for handicrafts isn’t doing too good, we’ve heard (more on this later). There are others such as the Bangalore based Aporv and Delhi based Nethaat, are in the same business.
Question is, will online marketplaces for a niche work?
What are your thoughts?