Mr. Gupta praised the other founder, Deepinder Goyal, the current CEO, and senior staffers for working tirelessly to build a "large and profitable business" despite challenges such as the COVID-19 pandemic.
Digital Desk: Mohit Gupta, co-founder of the food-ordering app Zomato, has stepped down. In a market note, the company included a farewell message from Mr. Gupta, who stated that he will remain a "long-only investor in Zomato."
"...I am excited to see you continue to build on everything we have learned over the years. Be relentless in your pursuit of knowledge, and create an organization that serves as a model for the rest of the world. "In his farewell message, Mr. Gupta stated.
Mr. Gupta praised the other founder, Deepinder Goyal, the current CEO, and senior staffers for working tirelessly to build a "large and profitable business" despite challenges such 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.
On Thursday, Zomato reported a smaller second-quarter loss, aided by a sustained increase in online ordering. According to a regulatory filing, the company's consolidated net loss for the three months ended September 30 was 2.51 billion rupees, compared to 4.30 billion rupees a year earlier.
Revenue from operations increased from 10.24 billion to 16.61 billion.
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