Gupta joined Zomato as the head of meal delivery in 2018. Ganjoo was promoted to co-founder after becoming the CEO of food delivery in 2021 to take charge of future enterprises. Prior to joining Zomato, Gupta was the chief operating officer of the travel website Makemytrip.
Gupta stated that he is still a long-term investor in Zomato and that the journey to build a world-class tech business out of India, for India (and possibly the world) is still ongoing, with only 1% completed.
Zomato stated in an exchange filing that Gupta was not designated as a key managerial personnel under the Companies Act and that the disclosure on exchanges was voluntary.
Following this development, Zomato’s stock fell as much as 2.61% at Rs65.40 against its previous closing of Rs67.15 on the BSE. The scrip opened at Rs66.30 and touched intraday high and low of Rs66.35 and Rs64.65 respectively.
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