New Delhi, Sep 27 (IANS): Nearbuy Co-founder Ankur Warikoo on Friday said he would step down as the company's CEO in November.

The announcement comes barely two months after the company became became cash-flow positive, making more money than it spends on a monthly basis.

"It personally felt like the right time for a new leadership to take the company forward in its avatar as a growing profitable company," Warikoo said in a LinkedIn post.

"Come November, I will be stepping down as the CEO of nearbuy.com, while continuing to participate in its journey as a shareholder and board member," he added.

Gurugram headquartered Nearbuy is a deals marketplace currently used by over 50 lakh people across the country. People use the platform to discover cashback offers, deals, discounts and coupons on restaurants, amusement parks, theme parks, spas, salons, etc.

Nearbuy co-founders, Ravi Shankar and Snehesh Mitra, will take over the management of the company as the CEO and COO, respectively, Warikoo said, adding that he does not know what he will be doing next.