September 26, 2021

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

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

Zomato cofounder Gaurav Gupta quits two months after IPO

Mumbai: cofounder Gaurav Gupta, a key executive in the run-up to the food delivery company’s landmark initial public offering (IPO), has resigned.

Gupta was the head of supply at the foodtech startup. In the two months since listing, Zomato has shuttered its grocery delivery pilot and its nutrition business, as well as several international subsidiaries.

CEO Deepinder Goyal confirmed his cofounder’s exit on microblogging platform Twitter. “Thank you Gaurav Gupta—the last six years have been amazing and we have come very far. 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,” Goyal wrote.

Gupta shared the news about his resignation in an email with the employees on Tuesday, which Zomato published in a blog post.

“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,” Gupta wrote. “We have a great team now to take Zomato forward and it’s time for me to take an alternate path in my journey. I am very emotional as I write this and don’t think any words can do justice to how I am feeling right now.”

In response, Goyal wrote, “I am thankful that you are hanging your boots at a point where we have a great team and leadership to carry us forward. Thank you for being a better friend to me than anyone else I’ve ever had. I can’t yet imagine everyday life at Zomato without you. You will be sorely missed. All the best!”

According to sources, today is Gupta’s last day at Zomato. He is now expected to plan out his next professional endeavour, which could be his own venture, and spend time with his family.

Gupta, who joined Zomato as business head for table reservations in 2015, was elevated to cofounder in 2019 to focus on launching the company’s nutrition business. That vertical was officially shut down last week. He donned various hats at the company during his six-year stint, serving as the chief operating officer for almost three of those. He was also a part of the team that launched Zomato Pro and looked at ways to improve the merchant experience on the platform.

“I couldn’t have asked for more—I am so grateful for all the experiences I have had and thankful to all the folks around me for helping me become a much better person,” Gupta wrote in the email. “I won’t be able to stay away from all of you and you will see me around and in action every once in a while.”

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