Zomato Co-Founder Gaurav Gupta steps down
Gaurav Gupta was promoted to the position of co-founder in March 2019. He had played an instrumental role in the talks leading to the company’s initial public offering.
Zomato co-founder Gaurav Gupta has decided to quit, just two months after the company posted a landmark initial public offering (IPO). Gupta, head of supply at Zomato, played a key role in driving up the company's sales in a highly competitive market.
He had also been a key executive in the run-up to the food delivery company’s hit IPO in July 2021, in which it received 38 times as many bids as shares on offer. His departure comes a few days after the company said it will soon stop its in-house grocery delivery service after gaps were reported in order fulfillment leading to poor customer service.
Gupta said in an email to the employees on September 14, "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." He wrote further, "We have a great team now to take Zomato forward and it is 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."
Zomato CEO Deepinder Goyal confirmed Gupta's exit by saying, "Thank you GG for everything you have helped Zomato achieve over the last few years." He said that we have seen Zomato through great as well as terrible times together and brought it here today.
Zomato has decided to shut its grocery delivery pilot and its nutrition business along with several international subsidiaries. Zomato had entered the online grocery delivery segment in April 2020 during the outbreak of the first wave of Covid-19.
About Gaurav Gupta
•Gaurav Gupta was promoted to the position of co-founder in March 2019.
•He had been instrumental in building Zomato's premium membership subscription and driving up sales in a competitive market.
•He had initially joined Zomato as Business Head for table reservations in 2015. He was later elevated to the position of Chief Operating Officer in 2018.
•He was finally elevated to the position of Co-Founder in 2019 to focus on launching the company's nutrition business. The vertical was officially shut down last week.
•Overall, during his six years at Zomato, he took up various responsibilities, serving as the chief operating officer for almost three years.
•He had also been a significant part of the team that launched Zomato Pro and has always looked at ways to improve the merchant experience on the platform.
•He had also played an instrumental role in the talks leading to the company’s initial public offering.