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Zomato Co-Founder Gaurav Gupta resigns

Zomato’s Senior Executive, Gaurav Gupta has quit the company. The Co-founder of Zomato decided to leave just two months after the food delivery company raised 1.3 billion in an initial public offering.

Gaurav Gupta joined Zomato in the year 2015 and went on to take up the Chief Operating Officer position in 2018 and then as a co-founder in 2019. Gupta was the face of the company in the run-up to the IPO, leading discussions with investors and the media.

The resignation news was shared with the Zomato employees via an email on Tuesday, which Zomato then published in a blog post. Gupta said, “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. 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.”

Zomato’s CEO Deepinder Goyal wrote on microblogging platform Twitter confirming Gupta’s exit. Goyal wrote, “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.”

Gupta’s exit comes days after Zomato ended its Grocery Delivery services.

Gupta’s ESOPs in the company was valued at Rs 197 crore and it wasn’t immediately clear if he got to liquidate any of it in the public event, as per the IPO documents.

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BRL Editorhttps://businessreviewlive.com
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