Durgesh Kaushik, former Vice President of Product at Reddit, has resigned to co-found Modveon, a startup focused on digital infrastructure, securing $10 million in initial funding.
Durgesh Kaushik, who served as Vice President of Product at Reddit for three and a half years, has announced his resignation to co-found a new venture named Modveon. This startup aims to address critical challenges in digital infrastructure for the future.
In a personal update shared on LinkedIn, Kaushik reflected on his time at Reddit, describing it as a period filled with significant learning and impactful experiences. He expressed gratitude to key figures at the company, including Pali Bhat, Steve Huffman, and Jen Wong, for their support and partnership. “Leading Product and International Growth at Reddit has been a masterclass in scale,” he stated, adding that he takes pride in helping make Reddit relevant to millions around the globe.
Kaushik’s departure marks a transition toward entrepreneurship, as he focuses on what he perceives as one of the most pressing challenges of the coming decade. He noted, “The internet is world-class at distribution, but the systems underneath it are still version 1.0. Identity is fragmented. Communication is noisy. Coordination is harder than it should be. Money movement is still far too broken in too many places.”
Modveon is positioned as a “verified operating system for modern nation-states and citizens,” aiming to fill gaps in identity, coordination, and financial systems. The startup has successfully raised $10 million in funding from investors, including Coinbase Ventures and Firebolt Ventures.
Kaushik explained the timing of the venture by highlighting the convergence of emerging technologies. “AI is becoming a new interface layer for how people navigate the digital world, and stablecoins are creating new rails for how value moves,” he wrote. He emphasized that both technologies become significantly more effective when built on trusted and verified systems, rather than fragmented ones.
He is co-founding Modveon alongside Nana Murugesan, who serves as CEO. The two share a long professional history, having previously worked together at Snapchat and Coinbase. “From our days scaling Snapchat to our time at Coinbase, we’ve built a decade of trust. There is no one I’d rather build with from the ground up,” Kaushik remarked.
Murugesan echoed Kaushik’s sentiments in a public response to the announcement. “Grateful to be building this with you Durgesh! We have done a lot together over the last decade, now we build what the next decade will run on. Excited for what’s ahead at Modveon,” he stated.
In the meantime, Steve Huffman, CEO of Reddit, has indicated that the company is looking to ramp up hiring of recent college graduates. This comes as parts of the tech sector pull back on entry-level recruitment amid the growing use of AI tools. Speaking on the Sourcery with Molly O’Shea podcast, Huffman noted, “The kids coming out of college right now learned how to program with AI. They’re really good at it, and so I think we will go heavy on new grads, because they’re so much more AI native.”
Kaushik’s move to launch Modveon represents a significant shift in his career, as he seeks to innovate within the digital landscape. His vision for the startup reflects a commitment to addressing foundational issues that have long plagued the internet.
According to The American Bazaar, the future of Modveon appears promising as it embarks on this ambitious journey.