NEW DELHI: Zomato co-founder Mohit Gupta has quit the food-tech company. This is the third high-profile exit from the company in recent weeks. Gupta joined Zomato in 2018 as the head of food delivery. He was elevated to co-founder in 2021 to oversee new businesses. In recent times, Zomato’s new initiatives head and former food delivery head Rahul Ganjoo and head of its Intercity Legends service Siddharth Jhawar had left the company.
“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,” said Deepinder Goyal, Zomato CEO.
Gupta in his farewell message said that he will remain a “long-only investor in Zomato”. The big exits at Zomato come at a time when the loss-making company is expecting to break even in the next 2 to 4 quarters. The food-tech firm’s consolidated net loss in the September quarter (Q2FY23) narrowed to Rs 251 crore from Rs 430 crore a year ago quarter (Q2FY22).
However, the losses grew 35% sequentially as Zomato had reported a loss of Rs 186 Crore in the June quarter (Q1FY23). This surge can be attributed to Blinkit’s acquisition.