RetailMeNot, which operates a marketplace and app promoting digital offers from retailers, has named Vivek Sagi, a former Amazon and Woot.com executive, as its CTO, according to a RetailMeNot press release.
Sagi had been head of product and engineering for Amazon Business Procurement Solutions, driving efforts on projects that included Amazon's B2B marketplace. He also previously served as CTO of Amazon's Woot.com electronics marketplace, and had been with Amazon since 2013.
Sagi is also a serial entrepreneur, and prior to Amazon, he worked with several startups, including social intelligence platform provider NewBrandAnalytics and mobile video ad network Vungle. He also worked at Deloitte Consulting.
RetailMeNot's appointment of a new CTO comes roughly four months after the company promoted three other executives to new positions. At that time, Mausam Bhatt was elevated from senior vice president of product to chief product officer; Kim Read went from vice president of operations to senior vice president of operations; and Srini Palamarthy, was promoted from vice president of global financial planning and analytics to senior vice president of business operations.
A new suite of executives for RetailMeNot, along with the addition of a key technology executive from Amazon, could help the company's potential to expand in new directions.
Sagi's wide range of experience is intriguing, and it will be interesting to see particularly if his experience with Amazon's B2B marketplace shapes RetailMeNot's work with B2B retailers. For Amazon, B2B has been a fast-growing segment, often overshadowed by the rest of the e-commerce giant's adventures and achievements, and that arguably requires a different approach to dealing with customers.
It's not clear that RetailMeNot has B2B expansion on its mind, but there is other evidence that RetailMeNot has been working to expand its horizons in different directions. This past May, the company added in-store cash-back offers to its offer catalog, a clear evolution for a company that once was known primarily as a provider of online coupons.
RetailMeNot likely needs to keep evolving, though, in terms of both its technology capabilities and market frontiers. For one thing, the market of companies providing coupons and offers online and via mobile continues to be very crowded. For another, retailers such as Sephora, Kohl's and others have recently been tinkering with and revamping their loyalty strategies, and that means RetailMeNot needs to evolve, too.