Food delivery platform Zomato said on Friday its co-founder Mohit Gupta has stepped down in the third major exit of a senior executive in a leadership role this month.
Gupta leaves after a four-and-a-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.
This follows the departures of Rahul Ganjoo, who was new initiatives head, and Siddharth Jhawar, the former head of Intercity Legends service, earlier this month. Gaurav Gupta, also previously a co-founder at Zomato, 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,” Zomato founder and chief executive Deepinder Goyal said in a note, according to a regulatory filing.
Gupta previously worked at travel portal Makemytrip and 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. He didn’t elaborate.
Zomato sharply narrowed its September quarter net loss to Rs 251 crore from Rs 430 a year earlier thanks to a sharp rise in its income from food delivery and wholesale Hyperpure unit. Revenue from operations surged 62% to Rs 1,661 crore from Rs 1,024 crore.