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Indian food delivery firm Zomato's co-founder exits after 6 years

By Chandini Monnappa BENGALURU (Reuters) -Zomato Ltd co-founder and head of supply Gaurav Gupta has left the Indian food delivery firm after six years, the company said...
Indian food delivery firm Zomato's co-founder exits after 6 years © Reuters. FILE PHOTO: The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed in front of its company website in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration/File Photo

By Chandini Monnappa

BENGALURU (Reuters) -Zomato Ltd co-founder and head of supply Gaurav Gupta has left the Indian food delivery firm after six years, the company said https://www.zomato.com/blog/always-in-love-with-zomato on Tuesday, months after it went public in a high-profile listing.

Gupta, who was promoted to the position of founder in March 2019, had been instrumental in helping build Zomato's premium membership subscription and driving up sales in a competitive market.

His departure comes a day after local media reported https://www.moneycontrol.com/news/business/startup/zomato-goes-leaner-as-after-grocery-it-shuts-down-nutraceutical-business-as-well-7458341 that Zomato had shut its health and fitness products business just six months after launch at a time when the government was getting stringent about private label rules in India.

The company earlier this month laid off about 70 people from its sales team, according to a source who declined to be named as the matter was private.

Zomato did not immediately respond to a Reuters request for comment.

The layoffs were the latest in a line of initiatives by the company to focus more on its mainstay food delivery business.

Zomato had also exited several of its international markets to focus solely on its India businesses in the build-up to its July market debut, in which its stock soared nearly 66%.

Zomato shares ended little changed on Tuesday after swinging wildly earlier in the session.

Moneycontrol had first reported https://www.moneycontrol.com/news/business/companies/zomato-founder-gaurav-gupta-quits-7464451 on Gupta's exit earlier in the day.

($1 = 73.7030 Indian rupees)

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22-09-2021 10:06:23 (UTC+7)

EUR/USD

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EUR/USD

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Bayer AG NA

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Allianz SE VNA O.N.

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Adidas AG

281.90

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 EUR/USD1.1725↑ Sell
 GBP/USD1.3661↑ Sell
 USD/JPY109.45↑ Buy
 AUD/USD0.7253Sell
 USD/CAD1.2790Neutral
 EUR/JPY128.33Neutral
 EUR/CHF1.0836Neutral
 Gold1,778.30Sell
 Silver22.820↑ Buy
 Copper4.2280↑ Buy
 Crude Oil WTI71.17↑ Buy
 Brent Oil74.94↑ Buy
 Natural Gas4.841↑ Buy
 US Coffee C183.70↑ Buy
 Euro Stoxx 504,097.51↑ Buy
 S&P 5004,354.18↑ Sell
 DAX15,348.53↑ Buy
 FTSE 1006,980.98↑ Buy
 Hang Seng24,221.54Neutral
 Small Cap 20002,190.36↑ Sell
 IBEX 358,756.00Neutral
 BASF62.280↑ Sell
 Bayer45.70↑ Buy
 Allianz187.45↑ Buy
 Adidas281.90↑ Sell
 Lufthansa8.377↑ Sell
 Siemens AG145.32↑ Sell
 Deutsche Bank AG10.095Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,710
(10/ 10) # 812
SJC HCM5,650/ 5,715
(5/ 5) # 819
SJC Hanoi5,650/ 5,717
(5/ 5) # 821
SJC Danang5,650/ 5,717
(5/ 5) # 821
SJC Nhatrang5,650/ 5,717
(5/ 5) # 821
SJC Cantho5,650/ 5,717
(5/ 5) # 821
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RON 95-IV2149021910
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WTI$71.14-0.82-1.15%
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Ngoại tệMua vàoBán ra
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EUR26.007,0827.360,60
GBP30.295,3831.561,13
JPY203,28215,04
KRW16,6220,24
Cập nhật lúc 10:04:00 22/09/2021
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