After Web 18’s CTO Varun Singh announced he was quitting to start up his own company, another CTO has put in his papers. This time it is UTVNew Media’s Lincoln Gada, who plans to launch his own start up.

Gada was previously CTO of Hungama, and was roped in when UTV New Media was established, 1.5 years ago. UTV New Media owns properties like Techtree.com, UTVi.com and UTVatplay.com the entertainment downloads portal.

Lincoln is now on his way to set up a new media firm of his own, which his Linkedin profile reveals could be a mobile data service provider. “Despite the liquidity crunch, India has a lot of opportunities right now, especially with 3G roll outs,” he said, speaking to Medianama.

Rizwan Thakur, one of the co-founders of IT Nation – which was acquired by UTV, has also put in his papers, the company confirmed. The other co-founder Pavan Sood had cashed out previously.