Zomato said Gunjan Patidar was one of its first few employees and built its core tech systems. “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,” the company informed in a regulatory filing.
Food aggregator Zomato on Monday announced that its Co-Founder and Chief Technology Officer Gunjan Patidar has put in his resignation papers.
The company said Patidar was one of its first few employees and built its core tech systems. “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,” the company informed in a regulatory filing.
Patidar’s exit is another big one from company after another co-founder Mohit Gupta had quit the firm in November last year. In the same month, the company’s former food delivery chief and new initiatives head Rahul Ganjoo had also resigned. Last week, Siddharth Jhawar. the company’s head of intercity legends, also announced he would be exiting the firm.
The sovereign wealth fund acquired 9.8 crore shares of the company worth more than Rs 607 crore at an average price of Rs 62 apiece. Post the transaction, Camas Investments Pte’s stake in the company increased to 4 percent.
On the same day, Alipay Singapore, an arm of the Chinese e-commerce giant Alibaba sold stake in the company for Rs 1,631 crore through an open market transaction. Alipay offloaded as many as 26.28 crore shares, or 3.07 percent stake in Zomato, exchange data showed.
Earlier in August 2022, Uber had also exited from the company after selling its 7.8 percent stake. Others who have pared stake in the food-delivery service include Sequoia Capital India and Tiger Global Management.
The company’s stock ended 1.5 percent higher on the BSE at Rs 60.25 apiece on Monday.