Food delivery aggregator Zomato co-founder and chief technology officer Gunjan Patidar resigned from his position on Monday, in the fourth major exit of a senior executive in a leadership role since November.
Patidar, one of the first employees at Zomato, leaves after a nearly 10-year stint at the company. He built the “core tech systems” for the Gurugram-based company, and also set up a tech leadership team at Zomato during his tenure, the company said in an exchange filing on Monday.
“He also nurtured a tch leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable,” Zomato said.
The exit follows the departures of co-founder Mohit Gupta, Rahul Ganjoo, new initiatives head, and Siddharth Jhawar, the former head of Intercity Legends service, in November 2022.
The company also decided to lay off about 3% of its employees across a 3,800-member team across functions, including technology, product and marketing, in the same month.
Zomato reported a net loss of Rs 251 crore for the September quarter, down from Rs 430 crore a year ago, after a rise in income from food delivery and wholesale Hyperpure unit helped its revenue, according to its latest available financials. Its operating revenue from operations rose 62% to Rs 1,661 crore from Rs 1,024 crore a year earlier.
The company’s share price at the end of Monday was trading at Rs 60.25, up 1.5% on Bombay Stock Exchange before the announcement.
Zomato, which listed on the bourses July 2021, has been facing scrutiny of the public market amidst the overall slowdown in the startup space. Its stock has plummeted by more than 57% in the past one year.
In August, in the firm’s annual general meeting its management said its food delivery business was looking to break-even in the next six months.