Zomato’s co-founder Mohit Gupta resigns

New Delhi, Nov 18: Gurugram-based firm Zomato Ltd co-founder Mohit Gupta has resigned after about five years at the food aggregator.

He is credited with building Zomato's food delivery operations from scratch and was the segment's chief executive before being elevated to co-founder in May 2020.

"Over the past few years, I have seen Deepi [Deepinder Goyal] become an even more mature and confident leader who is now completely capable of leading the business into a bright future with all of you by his side," Gupta said in his farewell note.

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

"...I am looking forward to seeing you continuing to build on everything we have learnt over the years. Be relentless, keep learning, and build an organization that is a role model for the rest of the world," he added.

Gupta also said that he was stepping down to pursue "unknown adventures".

"Zomato reported a smaller second-quarter loss on Thursday, helped by a sustained rise in online ordering. Consolidated net loss for the three months ended September 30 was Rs 2.51 billion, compared with Rs 4.30 billion rupees a year earlier, the company said in a regulatory filing," according to NDTV.

Revenue from operations rose to Rs 16.61 billion from Rs 10.24 billion