In the latest round of top-level exits, food delivery platform Zomato said its co-founder and Chief Technology Officer (CTO) Gunjan Patidar has resigned from the organisation.
Patidar was one of the first few employees of Zomato and helped build the core tech systems for the company. As per the organisation, Gunjan also built a tech leadership team while working at the organisation for over 10 years.
Patidar, however, was not key managerial personnel (KMP), Zomato said in the stock exchange filing.
As per Patidar’s LinkedIn profile, he was among the earliest employees with the food aggregator app Zomato and has experience working for over 14 years at the organisation. He also shares his alma mater, the Indian Institute of Technology in Delhi, with Zomato CEO Deepinder Goyal.
Mohit Gupta’s exit from Zomato
Patidar’s resignation comes weeks after co-founder Mohit Gupta quit the organisation, the third major exit of a senior executive in a leadership role in November 2022.
Gupta departed the Gurugram-based firm after four and a half years. He joined the company in 2018 and was in charge of Zomato’s food delivery unit. In 2020, he was promoted to co-founder.
Gupta’s departure followed the exits of Rahul Ganjoo, who was the new initiatives head, and Siddharth Jhawar, the previous head of the Intercity Legends service. Gaurav Gupta, another former Zomato co-founder, resigned two months after the firm went public.
The resignation comes amid a tumultuous time for tech stocks, with Zomato shares having fallen to more than 50 per cent of its peak of Rs 162 on the BSE. The stock closed at Rs 60.30 on Monday.
In Q2FY23, Zomato’s registered a net loss of Rs 250.8 crore as against Rs 434.9 crore reported in the same quarter the previous year. The company’s revenue from operations soared 62.20 per cent to Rs 1,661.3 crore.
However, the company had registered less-than-expected growth, resulting in a flurry of resignations and a major rejig in the senior leadership. In November 2022, amid record-high inflation and a looming threat of recession, Zomato laid off employees across functions, including technology, product and marketing, reported Livemint. According to the report, almost 3 per cent of employees have already been affected across these divisions.