Zomato co-founder Mohit Gupta resigns


Zomato said on Friday its co-founder Mohit Gupta has stepped down from the foodtech major, in what is the third major exit of key leaders from the company in this month.

Gupta leaves after a four and half year stint at the Gurugram-based firm. He joined the company in 2018, and was leading the food delivery unit of Zomato. The company had elevated him as the co-founder in 2020.

The development comes on the back of departure of Rahul Ganjoo, who was new initiatives head and Siddhart Jhawar, who was the head of its Intercity Legends service. Gaurav Gupta, also previously a co-founder of Zomato, had quit two months after the company went public.

“MG (Mohit Gupta) – you have been a brother, and a friend to me over the last few years. You have done a tremendous job here, brought us back from the brink of extinction, scaled the business to new heights, got us to profitability, and above all, coached me over the years to become capable of running such a large and complex business,” founder and chief executive Deepinder Goyal said in a note according to regulatory filing.

Gupta has previously worked at travel portal Makemytrip and food company PepsiCo.

“Over the past few years, I have seen Deepi become an even more mature and confident leader who is now completely capable of leading the business into a bright future with all of you by his side. It is with this confidence that I am deciding to move on from Zomato to seek the other unknown adventures that life holds for me,” Gupta said in the filing.

In the last quarter, Zomata narrowed its second-quarter loss from a year ago on a sharp rise in its income from food delivery and its wholesale Hyperpure unit. It reported a loss of 251 crore for the quarter ended 30 September from 430 crore a year ago. Its revenue from operations rose by 62% to 1,661 crore from 1,024 crore.


Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.



Source link