Zomato has elevated Mohit Gupta, CEO of food delivery firm, as Co-founder. The previous year, the food tech unicorn had also given its COO, Gaurav Gupta a position in the co-founding team. Mohit Gupta has become the fourth Co-founder of the Gurugram-based company.
Announcing the new Co-founder in the firm, CEO of Zomato, Deepinder Goyal, has reminded all employees about the Founders Program, that was announced a year ago. Gaurav Gupta became the Co-founder under the program.
Mohit on-boarded Zomato about two years ago after a decade-long stint at India’s largest online travel agency. He was a COO (Chief Operating Officer) at CTrip-backed public company.
Mohit has been managing the food delivery business of Zomato since July 2018. Under his guidance, the firm has scaled up to about 40 million monthly order volume. His elevation as a Co-founder has come at a time when online food ordering volume is witnessing downfall due to the COVID-19 pandemic.
To open up new monetisation channels, the firm had started grocery delivery service Zomato Market and recently ventured into home delivery of alcohol.
For extending the runway and cutting the cost, Zomato announced to lay off 13 per cent of its workforce or more than 500 employees. Employees at the food tech company also took voluntary pay cuts by the senior management. Gupta was also a contributor to the voluntary salary cut scheme.
In a bid to strengthen its grocery vertical, Zomato was also in early talks for the acquisition of SoftBank-backed e-grocer Grofers. However, the conversations do not seem to have progressed into an advanced stage.