Another big blow to Zomato: Company’s co-founder and CTO Gunjan Patidar resigns, 3 top officials have already resigned.
Food delivery platform Zomato’s co-founder and Chief Technology Officer (CTO) Gunjan Patidar resigned from the company on Monday. For a long time, the top level officers of the company are continuously resigning. Now the name of Gunjan Patidar has also been included in this list. He is the fourth co-founder to exit the company after Pankaj Chadha, Gaurav Gupta and Mohit Gupta. Chadha was out in 2018 and Gaurav Gupta in 2021.
Patidar had created the core tech system for the company. Gurugram-based company Zomato said that over the last 10 years, they have also built a tech leadership team. The company also stated in the filing that Patidar was not a Key Managerial Personal (KMP). According to Patidar’s LinkedIn profile, he worked for the company for 14 years. He has done his graduation from IIT-Delhi, from where Zomato CEO Deepinder Goyal has also studied.
Co-founder Mohit resigned
A few weeks before Patidar, Mohit Gupta, another co-founder of the company, resigned. Prior to Mohit, Zomato’s new initiatives head and former food delivery chief Rahul Ganju and its intercity leased services head Siddharth Jhawar had resigned. Rahul Ganju resigned from the company in November after being associated with the company for 5 years. Jhawar, too, resigned from the company in November and moved to edtech unicorn Moloko.
Zomato share fell 57.34% in a year
Shares of Zomato closed at Rs 60.30, down 1.69% on BSE today. The shares of the company have declined by around 7.87% in the last one month. At the same time, in the last one year, the shares of the company have fallen by about 57.34%. In Q2FY23, Zomato’s net loss stood at Rs 250.8 crore as against Rs 434.9 crore registered in the same quarter last year. The company’s revenue from operations increased by 62.20% to Rs 1,661.3 crore.
Pankaj and Deepak launched Zomato
Zomato was launched in 2008 by Pankaj Chadha and Dipendra Goyal. The story of starting the company is quite interesting. It so happened that Dipendra had gone to the office as usual and was waiting for the food menu in the canteen. They felt that the menu was taking a long time.
When he scanned the food menu and put it on the Internet, people liked it very much. Then what… from here he got the idea of a website. In which people can get information about nearby restaurants. Dipendra, along with his friend Pankaj Chadha, opened ‘Foodie’ in 2008, which was renamed Zomato in 2010.
