Zomato’s co-founder Mohit Gupta has resigned

Zomato Ltd, based in Gurugram, announced the resignation of its co-founder, Mohit Gupta, on Friday.

In his farewell letters, Gupta stated, “I remain a long-only investment in Zomato.”

“Four and a half years ago, I joined Deepi (Deepinder Goyal) and this band of crazies in their quest to create the finest food tech firm in the country, if not the globe. During this time, we took our food delivery service back from the verge of failure, survived fierce competition and the pandemic, and grew into a major and profitable enterprise (as unlikely as it seemed at the beginning). The path to establish a world-class IT firm out of India for India (and maybe the rest of the world) is still ongoing, with only 1% completed “Gupta stated in his note.

“You have done an outstanding job here, bringing us back from the verge of extinction, scaling the firm to new heights, bringing us to profitability, and, most importantly, coaching me through the years to become capable of operating such a vast and complicated organization. Because to you, I am certain that I will be able to build on your legacy and develop a bigger and better organization in the future “Deepinder Goyal, CEO, responded to Gupta.

“Furthermore, this disclosure is voluntary as Mr. Mohit Gupta was not designated as key managerial personnel under the Companies Act, 2013 and the Listing Regulations,” explained Zomato in a stock exchange filing.

Zomato’s stock finished 0.7% down on the BSE on Friday, at Rs 67.20.

Zomato has recently had high-profile departures. Rahul Ganjoo, new initiatives head and previous food delivery boss, and Siddharth Jhawar, vice president of global growth, are among those who have just gone.