Zomato’s shares were trading 2.16% lower on BSE at 2:58 pm.
Zomato said on Monday its co-founder and chief technology officer Gunjan Patidar has resigned from the post. The online food delivery platform did not disclose the reasons for his exit.
“Mr. Gunjan Patidar was one of the first few employees of Zomato and built the core tech systems for the company,” the company said in a stock exchange filing. “Over the last ten plus years, he also nurtured a stellar tech 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.”
Patidar’s departure follows the exit of another co-founder Mohit Gupta, who resigned in November last year. The year 2022 witnessed some other top-level exits from Zomato including the resignation of the head of new initiatives Rahul Ganjoo, the then vice-president and head of Intercity Siddharth Jhawar, and another co-founder Gaurav Gupta.
Zomato’s shares were trading 2.16% down at Rs 59 apiece on BSE at 2:58 pm. The company backed by Ant Group, Temasek, and Goldman Sachs, made its public debut in July 2021, and its shares were listed at an issue price of Rs 76 apiece. It reported a consolidated net loss of Rs 251 crore for the quarter ended September, against Rs 430 crore a year ago.
Elsewhere, the food delivery giant scored four out of 10 in Fairwork India’s fourth annual study of the work conditions of platform workers on digital labor platforms in the country in 2022. The research agency collaborated with Oxford University and evaluated 12 platforms, including Amazon Flex, Big Basket, Dunzo, Flipkart, Ola, PharmEasy, Porter, Swiggy, Uber, Urban Company, Zepto, and Zomato. The companies were assessed against five principles: Fair Pay, Fair Conditions, Fair Contracts, Fair Management, and Fair Representation.
