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NEW DELHI : Nikhil Gandhi has decided to step down as chief operating officer (COO) of video streaming platform MX Player owned by Times Internet, soon to pursue other interests. The company has confirmed the same.

Mint had earlier reported that Amazon.com Inc is in advanced talks to acquire MX Player, with due diligence expected to take 30-40 days.

Serving his notice period, Gandhi’s appointment as COO in August 2021 was in line with the company’s strategy to drive growth and efficiency. He worked closely with MX Player chief executive officer, Karan Bedi and was responsible for taking the platform to its next phase of growth by expanding its geographical reach, enhancing data-driven innovation, growing the scope and scale of revenue streams, and building maximum impact for internal and external stakeholders, the company said.

“Thanks to Nikhil’s contributions, the company is in a strong position, and we are confident that our team, values and talent will continue to thrive, improve business synergy and create even more valuable organizational depth. We sincerely thank Nikhil for his leadership and meaningful contribution in MX Player’s growth and success and we wish him well in his future endeavors," Bedi said in a statement.

MX Player was initially developed by a South Korean app developer as a media player for downloaded videos.

In 2018, Bennett Coleman & Co Ltd (BCCL)-owned Times Internet, acquired MX Player for 1,000 crore (around $140 million at that time) to mark its entry into video streaming.

“I am proud of all that we have accomplished during my tenure at MX Player. I am especially grateful to Karan and the team who worked alongside me to introduce new revenue growth drivers and create so many impactful and digital experiences for our users and stakeholders. I wish them all the best," Gandhi said in a statement.

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Updated: 21 Mar 2023, 11:25 PM IST
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