Zomato cofounder Gaurav Gupta quits two months after IPO

Mumbai: Zomato cofounder Gaurav Gupta, who played a key role in the runup to the food delivery platform’s initial public offering (IPO) earlier this year, announced his resignation from the company that is weathering a series of changes following its stellar listing.

Gupta, who was the head of supply at Zomato, wrote to employees on Tuesday announcing his resignation, “I am taking a new turn in my life and will be starting a new chapter, taking a lot from this defining chapter of my life—the last six years at Zomato."



"We have a great team now to take Zomato forward and it’s time for me to take an alternate path in my journey. I am very emotional as I write this and don’t think any words can do justice to how I am feeling right now," he said.

Gupta taken on the role of spokesperson for Zomato during media and investor interactions ahead of its IPO.

CEO Deepinder Goyal confirmed his cofounder’s exit on microblogging platform Twitter. “Thank you Gaurav Gupta—the last six years have been amazing and we have come very far. There's so much of our journey still ahead of us, and I am thankful that we have a great team and leadership to carry us forward,” Goyal wrote.


According to people in the know, Tuesday was Gupta’s last working day at Zomato. He is now expected to plan out his next professional endeavour, which could be his own venture or working for another company. His decision to resign was recent, the sources told ET.

Zomato's shares, which fell in intraday trading on the Bombay Stock Exchange, closed 0.9% higher at Rs 144.10 apiece at the end of trading on Tuesday.

Business Revamp
In recent weeks, the Gurugram-based company has shuttered its grocery delivery service, nutrition business as well as international subsidiaries in the US, UK, and Singapore.

As the head of supply, Gupta was overseeing restaurant partner management across Zomato's food delivery and dining out businesses. In the last year, even as the restaurant industry was impacted by the Covid-19 pandemic, Gupta helped onboard more than 120,000 restaurants onto its platform, a Zomato spokesperson said. His role included leading a team across India that managed restaurant partners.

Amid the pandemic, the company had received criticism from the National Restaurant Association for alleged anti-competitive practices that the grouping claimed had further damaged the restaurant industry.

Responding to Gupta’s email to employees, CEO Goyal in a blog post wrote, “I am thankful that you are hanging your boots at a point where we have a great team and leadership to carry us forward. Thank you for being a better friend to me than anyone else I’ve ever had. I can’t yet imagine everyday life at Zomato without you. You will be sorely missed. All the best!”


Various Roles
Gupta, who joined Zomato as business head for table reservations in 2015, was elevated to cofounder in 2019 to launch the company’s nutrition business, which was officially shut down last week after a six-month run.

He donned various hats at the company during his six-year stint, serving as the chief operating officer for almost three years. He was also a part of the team that launched Zomato Pro and looked at ways to improve the merchant experience on the platform.

"I couldn’t have asked for more—I am so grateful for all the experiences I have had and thankful to all the folks around me for helping me become a much better person,” Gupta wrote in the email. “I won’t be able to stay away from all of you and you will see me around and in action every once in a while.”