September 28, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Zomato co-founder Gaurav Gupta quits as firm shuts grocery delivery biz

Gaurav Gupta, a co-founder of start up Zomato, has quit the company that made a public offering in July, sources told Business Standard.

Gupta was the chief operating officer in 2019 when named his as a co-founder; he was the company’s pointsperson for interactions about its listing.

His departure comes at a time when is shuttering its businesses in grocery delivery and dietary supplements business.

Gupta was the first to be elevated to co-founder under the “Founder Program,” which rewards “people who have contributed to Zomato deeply; have built/scaled businesses, and have consistently demonstrated a founder’s mindset for a reasonable period of time, are acknowledged for their passion, commitment and perseverance”.

Zomato could not immediately be reached for comment.

The Gurugram-based firm said last week it will shut down its grocery delivery service, which began in July, due to gaps in order fulfilment and the traction 15-minute grocery delivery has been getting in the recent past.

The company will discontinue its grocery delivery pilot on September 17. Reports said Zomato is shutting down its dietary supplements business, which co-founder and CEO Deepinder Goyal announced in March this year.

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