Zomato co-founder Pankaj Chaddah resigns
Pankaj Chaddah will take a few months’ break and start something new, but will continue to serve on the Zomato board, says co-founder Deepinder Goyal
New Delhi: Pankaj Chaddah, a co-founder at Zomato, is leaving the food discovery and delivery start-up.
“After 10 years, I am moving on from Zomato to try out something new. I’ll continue to play an active role till the end of this month. Have been thinking about this for a while, and the timing seems right today as Zomato is back to being a rocket-ship,” Chaddah said in a post on micro-blogging site Twitter.
[1/2] - After 10 yrs, I am moving on from @Zomato to try out something new. I"ll continue to play an active role till the end of this month. Have been thinking about this for a while, and the timing seems right today as Zomato is back to being a rocket-ship 🚀— Pankaj Chaddah (@pankajchaddah) March 1, 2018
His final day at the company is 31 March.
Chaddah’s departure comes on the same day as Zomato’s announcement of a $150-million fund-raise from China’s Ant Financial Services, a unit of Alibaba Group Holding.
Chaddah, an alumnus of Indian Institute of Technology, Delhi, along with Deepinder Goyal started Zomato in 2008, initially calling it foodlet.in. The two had met earlier while working for consultancy Bain & Co. in Delhi.
“Pankaj has given both me and Zomato ten of the best years of his life (he was 22 when he started), and would now like to take time to think about what he wants to build next. Today—the time has come for me to help him realise his own dreams and aspirations, just like he once enabled me to accomplish mine,” chief executive officer Goyal said in a blogpost late Thursday.
Chaddah will continue to serve on Zomato’s board.
“Next steps for me? – I will take a few months’ break before I get professionally active again. I will likely start something new and I hope that the 10 years of grind and experience will help me make it a success,” Chaddah wrote in an email to Zomato employees, shared by the company on its blog.
Editor's Picks »
- Steel stocks get winter chill as China demand issues resurface
- Why Uday Kotak’s defiance is scaring his bank’s investors
- Exit RBI governor Urjit Patel, enter wrath of the markets?
- The government has a troubling message for minority shareholders
- Opec-allies’ output cut may not amount to big shift in oil prices