Mohit Gupta, the co-founder of food-ordering app Zomato, has resigned
Mohit Gupta, the co-founder of food-ordering app Zomato, has resigned. In a note to the markets, the company attached a farewell message from Mr Gupta, who said he will remain a "long only investor in Zomato".
"...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," Mr Gupta said in his farewell message.
Mr Gupta praised the other founder, Deepinder Goyal, who is the current chief executive, and senior staffers for relentless work to become a "large and profitable business" despite challenges as the COVID-19 pandemic.
"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," Mr Gupta said.
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.
Revenue from operations rose to Rs 16.61 billion from Rs 10.24 billion.