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Home / News / Business News / Zomato co-founder Gaurav Gupta quits to start 'a new chapter'
Business

Zomato co-founder Gaurav Gupta quits to start 'a new chapter'

Zomato co-founder Gaurav Gupta quits to start 'a new chapter'
Written by Ramya Patelkhana
Sep 14, 2021, 02:29 pm 3 min read
Zomato co-founder Gaurav Gupta quits to start 'a new chapter'
Gaurav Gupta has decided to quit Zomato after working with the company for six years

Gaurav Gupta, the co-founder and Chief Operating Officer (COO) of homegrown food-delivery platform Zomato, has announced his decision to quit the company. Gupta said he is leaving Zomato as he wants to take a "new turn" in life and start a "new chapter." Notably, Gupta was one of the key figures behind Zomato's landmark initial public offering (IPO) in July this year. Here's more.

Details
Zomato CEO Deepinder Goyal confirms Gupta's exit on Twitter

Confirming Gupta's exit, Zomato's founder-CEO Deepinder Goyal tweeted the last six years with Gupta "have been amazing," and thanked him. Wishing him the best for his future endeavors, Goyal added, "I am pumped and excited to see what you will cook up next. Make @zomato proud." However, Moneycontrol has reported that Gupta resigned because of a fallout between him and Goyal sometime earlier.

Twitter Post
Take a look at what Goyal posted on Twitter

I wish you all the best for your future, and look forward to continue being the friends that we are for the rest of our lives. ❤️

I am pumped and excited to see what you will cook up next. Make @zomato proud 🚀

— Deepinder Goyal (@deepigoyal) September 14, 2021
Email to employees
Taking a new turn in my life: Gupta to employees

"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 6 years at Zomato," Gupta wrote in an email addressed to Zomato's employees. "We have a great team now to take Zomato forward...it is time for me to take an alternate path in my journey," he added.

Struggles
Zomato businesses managed by Gupta weren't doing well

According to unnamed sources familiar with the matter, Gupta's exit from Zomato had been brewing for a while since the Zomato businesses he launched didn't take off. Zomato's grocery delivery and nutraceuticals businesses had to be shuttered since they were struggling. Gupta's overseas expansion plan also didn't work. Zomato had entered the nutraceuticals business last year with health and fitness products.

Nutraceuticals?
Gupta was named head of nutraceuticals business for five years

Zomato named Gupta the head of the nutraceuticals division for five years when it launched to capitalize on the adoption of healthy food among Indians. Nutraceuticals are a subset of dietary products providing medical or health-related benefits. Zomato proceeded to shut this underperforming business recently at a time when the Indian government is tightening rules surrounding private labels for marketplace businesses in the country.

Growing income
Zomato recorded Rs. 356 crore loss in last quarter

Irrespective of the specifics of the fallout between Gupta and Goyal that remain unknown, it's possible that the disappointing performance of several ambitious ventures was detrimental to Gupta's work at Zomato. Zomato recorded a net loss of Rs. 356 crore during the quarter ended June 30, 2021. However, the company's Rs. 916 crore income this quarter was a huge year-on-year improvement.

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Ramya Patelkhana
Ramya Patelkhana
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Ramya Patelkhana is a senior editor at NewsBytes. She has nearly seven years of experience in digital journalism and has previously worked with India News and Authint Media. She has a Bachelor's degree in Journalism and Mass Communication from the IK Gujral Punjab Technical University, Kapurthala, and an advanced diploma in Media Studies from IPW, New Delhi.
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