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Zomato CBO Mukund Kulashekaran quits

In yet another recent top-management exit at Zomato, the company’s chief business officer Mukund Kulashekaran quit the company on Monday, The Economic Times reports.

Notably, Kulashekaran has exited less than five months after taking on the role of CBO from his earlier stint as global business head of online ordering. He was in that position since the launch of Zomato’s online delivery services in 2015.

Kulashekaran was responsible for online ordering and advertising sales, along with being at the helm of Zomato Gold, its subscription-based service, and Zomato Treats, another subscription product that gives users free add-ons from partner restaurants.

Other departures

The exit is one among many at the company recently. In the past three months, ten senior-level and mid-level executives have left Zomato, including from the operations team in Australia and the UAE, and the global growth team in India. Only two months ago, the company’s co-founder Pankaj Chadda quit after spending 10 years there.

The exit also arrives as Zomato locks horns with Swiggy, its closest competitor in the country. Both companies are reportedly in talks with investors for fresh rounds of funding. Zomato raised $150 million from Alibaba’s Ant Financial in February. Swiggy raised Series F funding of $100 million from its existing investor Naspers and a new investor Meituan-Dianping in February.

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Recent developments

  • The company hired Sameer Maheshwary as their Chief Financial Officer in May. He joins Zomato in July from GE, where he was the CFO for South Asia.
  • The company touched about Rs 481 crore (US $74 million) in revenues for financial year 2018 (FY18) and had nearly 5.5 million monthly food orders in March 2018.
  • 150,000 users had signed up for Zomato Gold, its paid subscription product, within three months of launch.

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