Gaurav Gupta, co-founder and top executive of Ant Group-backed Zomato Ltd, has resigned from the food delivery company about one and a half months after it got publicly listed.
Gupta, who joined in 2015, was promoted to the post of chief operating officer in 2018 and to co-founder the next year.
The move comes days after the food-tech aggregator platform said it has exited nutraceutical business and consumer grocery delivery for the second time in two years, citing infrastructure gaps in a highly competitive market. These businesses that were launched by Gupta were struggling to function for some time.
Last month, Zomato said it will be shutting the business of Zomato USA LLC whose contribution to turnover was zero.
Commenting on the resignation, Deepinder Goyal, founder and CEO of Zomato, said, "There's so much of our journey still ahead of us, and I am thankful that we have a great team and leadership to carry us forward."
Gupta was known to be the face of the foodtech platform in the run-up to the initial public offering (IPO) in July, leading discussions with investors and the media.
"I am taking a new turn in my life and will be starting a new chapter, taking a lot from this defining chapter of my life – the last six years at Zomato,” he said in a letter.
“We have a great team now to take Zomato forward and it’s time for me to take an alternative path in my journey,” he added.
Last month, in its first earnings report after listing, Zomato reported a 26% sequential growth in adjusted revenue year-on-year for the first quarter of FY22.
Its losses widened at Rs 360.7 crore from Rs 134.2 crore for the previous period.
Founded in 2008, Zomato has a presence in 23 countries. Its investors include Sequoia Capital, Info Edge, Alibaba Group’s Ant Financials, Tiger Global, Kora Investments, Nexus Ventures and Temasek Holdings.