- Zomato- the food ordering platform has elevated Mohit Gupta, the CEO of their food supply business, by making him a co-founder.
Zomato- the food ordering platform has elevated Mohit Gupta, the CEO of their food supply business, by making him a co-founder.
In an email addressed to employees on Sunday, Zomato ‘s co-founder and chief executive Deepinder Goyal said: “Although Zomato ‘s foundation was established before Mohit Gupta joined us, he has been instrumental in strengthening it significantly over the past two years … When I launched the Founders Program just over a year ago, I outlined a few qualities that all created. These qualities include among other things trustworthiness, commitment, and resilience. MG checks all those and more boxes.
In 2018, Gupta joined Zomato from MakeMyTrip online travel portal where he served as chief operating officer. “MG (Mohit Gupta) is very committed to building Zomato on a long-term basis and has extremely high levels of ownership – so much so that twice in the last two years he has taken a 100% salary cut to help the organization wade through some difficult times,” Goyal wrote in his email.
Last year the title of co-founder was also granted to Gaurav Gupta, Zomato’s COO. In all, the firm backed by Ant Financial now has four co-founders — Goyal, Gunjan Patidar, Gaurav Gupta, and now Mohit Gupta.
After a 10-year stint in March 2018, Pankaj Chaddah, who started Zomato with Goyal and Patidar, left the company and has now started a Mindhouse mental fitness startup.
Rival Swiggy saw the exit earlier this month of one of her co-founder Rahul Jaimini, who later joined Pesto Tech, a career accelerator startup. However, Jaimini remains a member of the board and a shareholder at the startup of food ordering.
The move comes at a time when order volumes had reached an all-time low for Zomato and rival Swiggy due to the Covid-19 pandemic. Recently, in selected Bengaluru pin codes, Jeff Bezos-led Amazon has started a food delivery service too.
In India, the pattern of elevating a co-founder to senior executives is unusual. After a short stint as President, Bytedance-backed DailyHunt had promoted former Facebook India managing director Umang Bedi as its co-founder. Ananth Narayanan, Myntra’s former CEO, had joined Medlife as its co-founder and CEO last year.