Snapcart co-founder and CEO Teresa Condicion steps down

Snapcart’s co-founder and former CEO Reynazran Royono will resume the role to lead the company.

Photo courtesy of Snapcart

Teresa Condicion stepped down from her role as co-founder and CEO of Jakarta-based cashback app Snapcart.

Condicion departed effectively on September 30th 2019 to start a new venture called Shoplinks, according to an official statement.

Prior to landing her role as  Snapcart’s CEO, Condiction served as chief data officer (CDO) at Snapcart for more than three years after a long tenure in P&G as Head of ASEAN Consumer and Retail analytics.

As a CDO, she led a team of data scientists in developing over 400 machine learning models that read, structure, and predict the content of the receipts to deliver data analytics to clients at five times the speed of incumbents.

Condicion’s new venture, Shoplinks, enables smart one-to-one marketing offline by providing secure data sharing, data matching, and AI-enabled engagement platforms to consumer packaged goods (CPG) and retail.

Condicion was appointed as Snapcart’s CEO in 2019 to help drive the company’s focus towards full automation to improve margins. The company did not provide further explanation about her departure after a rather short tenure. The statement said Snapcart’s co-founder Reynazran Royono who served as CEO before Condicion will resume his role to lead the company.

Snapcart operates a mobile app that gives shoppers cashback for scanning their receipts. The company collects a massive amount of purchase data and develops real-time and targeted engagement campaigns for brands. The company has a presence in Indonesia and the Philippines and it has raised total funding of USD 14.7 million, according to its Crunchbase page.