Zomato's co-founder Mohit Gupta steps down; here's what he told in his farewell message

The co-founder of the food ordering app Zomato, Mohit Gupta, resigned on Friday. In his statement, the business included a farewell message from Gupta, who said he would remain a 'long-only investor in Zomato.'

"...I'm excited to see you continue to build on all we've learned over the years. Be relentless in your pursuit of knowledge, and create an organisation that serves as an example for the rest of the world." Gupta said in his farewell message.

While praising other founders, Gupta said Deepinder Goyal, the current CEO, and senior personnel for working tirelessly to build a 'big and profitable firm' in the face of challenges like the COVID-19 pandemic.

"Over the past several years, I have witnessed Deepi [Deepinder Goyal] evolve into an even more mature and confident leader who is now totally capable of guiding the business into a bright future with all of you by his side," Gupta added.

Zomato's new projects head and former food delivery chief, Rahul Ganjoo, resigned earlier this week, while Siddharth Jhawar, the company's Intercity Legends service head, announced his departure a week ago.

Gupta joined Zomato as the head of food delivery in 2018. When Ganjoo was named CEO of food delivery in 2021, he was promoted to co-founder to supervise new enterprises. Gupta was the chief operating officer of the travel portal Makemytrip before joining Zomato.

The food delivery company has suffered in the public market this year, as its stock price has dropped by more than 50 per cent from its peak of Rs 162 on the BSE.

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• Mohit Gupta
• Zomato