Another Zomato co-founder leaves the company
Zomato said on Monday that its co-founder and chief technology officer Gunjan Patidar had left the company, the latest in a string of departures from the Indian food delivery company whose shares have lost more than 57% of its value in the past year.
Patidar is the fourth co-founder to leave the company. His departure also follows those of Mohit Gupta, another co-founder, and two other senior executives last month.
"Patidar was one of Zomato's earliest employees and built the company's core technology systems. Over the past decade-plus, he has also built a stellar technology leadership team capable of take on the responsibility of leading the technology function going forward. His contribution to building Zomato has been invaluable,” the Indian food delivery company disclosed in a public filing.
The departures come at a time when Zomato chief executive Deepinder Goyal, also a co-founder, is trying to share and delegate key responsibilities with other executives. The company appointed four chief executives in August last year and rebranded its wider internal organization to "Eternal".
Zomato, a loss-making company backed by Ant Group, Temasek and Goldman Sachs, did not say why Patidar, or any of the other recently deceased senior executives, left.
The company, which went public in mid-2021, reported a net loss of $30.4 million for the quarter that ended September last year.
"Fortunately, Zomato has no shortage of co-founders in his company. There's Akriti Chopra, another executive who became a co-founder last year. […] Earlier this year, he raised a leading as co-founder of Blinkit (which is owned by Zomato) to replace one of Blinkit's co-founders who left last year," Indian news and analysis publication The Ken wrote in a newsletter last year.
"At this point, I'm beginning to suspect that there's someone on Zomato's corporate governance team whose full-time job is to periodically update the document that lets you know who is their co-founder right now, in which company."
Zomato said on Monday that its co-founder and chief technology officer Gunjan Patidar had left the company, the latest in a string of departures from the Indian food delivery company whose shares have lost more than 57% of its value in the past year.
Patidar is the fourth co-founder to leave the company. His departure also follows those of Mohit Gupta, another co-founder, and two other senior executives last month.
"Patidar was one of Zomato's earliest employees and built the company's core technology systems. Over the past decade-plus, he has also built a stellar technology leadership team capable of take on the responsibility of leading the technology function going forward. His contribution to building Zomato has been invaluable,” the Indian food delivery company disclosed in a public filing.
The departures come at a time when Zomato chief executive Deepinder Goyal, also a co-founder, is trying to share and delegate key responsibilities with other executives. The company appointed four chief executives in August last year and rebranded its wider internal organization to "Eternal".
Zomato, a loss-making company backed by Ant Group, Temasek and Goldman Sachs, did not say why Patidar, or any of the other recently deceased senior executives, left.
The company, which went public in mid-2021, reported a net loss of $30.4 million for the quarter that ended September last year.
"Fortunately, Zomato has no shortage of co-founders in his company. There's Akriti Chopra, another executive who became a co-founder last year. […] Earlier this year, he raised a leading as co-founder of Blinkit (which is owned by Zomato) to replace one of Blinkit's co-founders who left last year," Indian news and analysis publication The Ken wrote in a newsletter last year.
"At this point, I'm beginning to suspect that there's someone on Zomato's corporate governance team whose full-time job is to periodically update the document that lets you know who is their co-founder right now, in which company."
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