Zomato co-founder Mohit Gupta resigns: ’To other unknown adventures...’

Food aggregator Zomato co-founder Mohit Gupta has quit the company after four and half year stint, marking this as the third high-profile exit from the company.

Earlier this week, Zomato's new initiatives head and former food delivery chief Rahul Ganjoo had resigned , while Siddharth Jhawar, the head of its Intercity Legends service also announced his exit from the compnay a week back.

Mohit Gupta had joined Zomato four-and-a-half year back, was elevated to co-founder in 2020 from the position of CEO of its food delivery business.

In a message that Gupta sent to his team, which Zomato shared on BSE, he said 'deciding to move on from Zomato to seek the other unknown adventures that life holds for me.'

"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. As I look ahead, I am full of excitement for the vision that Zomato, Blinkit, Hyperpure and Feeding India are building towards," Gupta said in his note.

"MG - 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. Thanks to you, I feel confident that I can continue to build on top of your legacy and build a bigger and better company going forward. Thanks once again; I know you will always be around for me, but still, you will be sorely missed," said Deepinder Goyal, CEO, Zomato.

Zomato’s net loss for the September quarter narrowed to ₹250.8 crore compared to ₹434.9 in the corresponding quarter last fiscal. Meanwhile, revenue from operations rose by 62.20 per cent to ₹1,661.3 crore.

The company's food delivery business September quarterly sales have grown only 22 per cent To ₹6,631 crore from ₹5,410 crore in corresponding quarter last fiscal.