Rahul Ganjoo, Zomato’s new initiatives head, resigns
BENGALURU: Zomato’s new initiatives head and former food delivery chief Rahul Ganjoo has put in his papers, according to BSE filings by the company.
Ganjoo had joined Zomato in 2017 as the head of product development. In 2020, he was appointed co-chief executive of the company’s food delivery vertical.
In August, he was elevated as the head of the new businesses vertical.
Earlier, Ganjoo had stints in Snapdeal, Twitter and Symantec, in product management roles, according to Linkedin.
His exit follows the departure of Siddhart Jhawar, the head of Intercity Legends service at Zomato.
The high-profile exits follow its Q2 results. It had narrowed losses from the year ago due to a surge in income from food delivery as well as its wholesale unit, Hyperpure. On 10 November, Zomato’s chief financial officer, Akshant Goyal said in a letter to shareholders that the food delivery business is growing and steadily moving towards profitability. “I believe there is room for it to grow much faster than what is currently trending.”
Zomato’s net loss narrowed to ₹251 crore for the quarter ended 30 September from ₹430 crore a year ago, while operating revenue was up 62% to ₹1,661 crore from ₹1,024 crore during the period.
Its earnings performance includes Blinkit’s financials, which was acquired by as Zomato in August.
Zomato has discontinued its Pro and Pro Plus memberships and is working on a “loyalty programme” for food delivery. Its revenue from Pro had fallen significantly to ₹9 lakh.
In a separate regulatory filing, it said Kuwait-based food delivery app Talabat will shut down the Zomato UAE app on 24 November, and redirect users to the Talabat app. The dining-out service and restaurant discovery will, however, continue via Zomato Pay.