Zomato Co-Founder Mohit Gupta Quits As Top-Level Exits Continue

"I remain a long only investor in Zomato," Gupta said in his farewell message.

<div class="paragraphs"><p>Mohit Gupta. (Source: Zomato website)</p></div>
Mohit Gupta. (Source: Zomato website)

Zomato Ltd.'s co-founder Mohit Gupta has resigned amid a spate of top-level exits at the restaurant aggregator.

Gupta has tendered his resignation, the Deepinder Goyal-led company informed exchanges on Friday without citing the reason behind his exit.

Gupta had been with Zomato for four-and-a-half years. He was among the top executives elevated to the status of co-founder ahead of Zomato's IPO last year.

"I remain a long only investor in Zomato," Gupta said in his farewell message, which was shared with the exchanges.

"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," Goyal said in response to Gupta's message. "Thanks once again; I know you will always be around for me, but still, you will be sorely missed."

In the exchange filing, Zomato said that Gupta was not designated as a key managerial personnel.

Earlier this week, Rahul Ganjoo, the head of new initiatives, had exited the company. Siddharth Jhawar, vice president and head of Zomato's intercity legends service, disclosed last week that he has left the restaurant search and food delivery firm.

Gupta is the second co-founder to quit Zomato since it went public about 16 months ago. In September last year, Gaurav Gupta had left the organisation citing newer opportunities.

The leadership exodus also comes about three months after Co-founder and Chief Executive Officer Goyal, in an internal note to employees, said that Zomato will transition into a company with multiple CEOs leading each of their businesses—Zomato, Blinkit, Hyperpure, and Feeding India.

“We are transitioning from a company where I was the CEO to a place where we will have multiple CEOs running each of our businesses, all acting as peers to each other, and working as a super-team with each other towards building a single large and seamless organisation,” he had written.