Gunian Patidar, the Chief Technology Officer and Co-founder of food delivery app Zomato, resigned on Monday. Patidar was one of Zomato’s first employees and was responsible for the company’s core technology systems, according to a regulatory filing.
“Over the last ten years, he has also developed a stellar tech leadership team capable of taking on the mantle of leading the tech function in the future. His contribution to the development of Zomato has been invaluable “According to the company.
The reason behind the resignation is still unknown.
Mohit Gupta, another co-founder of the company, resigned in November of last year. Gupta, who joined Zomato four and a half years ago, was promoted to co-founder in 2020 after serving as CEO of the company’s food delivery business.
Last year, Zomato saw some high-level departures, including Rahul Ganjoo, the former head of new initiatives, and Siddharth Jhawar, the former vice-president and head of Intercity, as well as co-founder Gaurav Gupta.
Following Patidar’s resignation, shares of food delivery platform Zomato fell more than 2 per cent on Tuesday.
Aside from Zomato, a slew of new-age technology firms such as Paytm, Nykaa, Delhivery, Policybazaar, CarTrade, and Nazara have lost nearly Rs 2.5 trillion in market capitalisation since going public. Shareholders have been let down by either poor performance or cumbersome acquisitions, such as Blinkit in the case of Zomato. According to Jefferies analysts, there is a lot of scepticism about quick commerce.
