wordpress blog stats
Connect with us

Hi, what are you looking for?

Zomato’s co-founder Pankaj Chaddah quits, more exits expected


Zomato’s co-founder Pankaj Chaddah has quit the company and is now apparently moving on to try out something new. He announced the move in a tweet, and said that after 10 years in the company, he is moving on from Zomato.

In a farewell blog, the company writes that as of 31st March, Pankaj will be moving on from an active role at Zomato to focus on the next chapter in his personal journey, and will keep serving on its Board of Directors. Quoting data platform Paper.vc, The Economic Times writes that Chaddah will retain his stake of about 3.11% in the company.

The development comes at a time when Zomato has recently raised US $150 million from Alibaba’s Ant Financial, and bought another 6.66% stake (around 32,629 shares) of Zomato from Info Edge for $50 million, taking the total expenditure for Ant Financial in this deal to $200 million. Zomato had reported a turnover of Rs 3322.72 crores in FY17, and in September, had announced that it is profitable throughout the 24 countries it operates, across all its businesses.

Senior management shuffle

Media reports suggests that the company is going to see a reshuffle in top management. Quoting a source, Business Standard reported that next senior-executive exit would be from the company’s technology team, and at least two exits are expected by end of April.

Advertisement. Scroll to continue reading.

In September last year,  Deepak Gulati, the President and chief operating officer (COO) of restaurant listing and food delivery company Zomato resigned within six months of his appointment at the company. Prior to that, Zomato had seen senior executives quitting in the year 2015, when Durga Raghunath quit as its Senior Vice President of growth, within six months of being appointed to the position. And before that, it’s CMO Rameet Arora quit after 10 months of his appointment.

Written By

Writes about e-commerce, social media, tech and Internet ecosystem.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.


Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.


Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.


The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.


For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ