Online restaurant guide and food ordering portal Zomato may see a major rejig in its top leadership in next six months with investors pushing for the company to focus more on the food delivery side of the business, a media report said today.
Investors including Ant Financial, Sequoia Capital and Temasek Holdings want the company to dedicate more resources on the lucrative business of food delivery where it faces tough competition from Swiggy and Foodpanda.
It is also facing a new challenge in form of Uber Eats which is fast acquiring the market in major cities.
This comes two months after Zomato co-founder Pankaj Chaddah's exit from the company in March.
Over 10 exits have happened in the mid-level and senior management of the company in the last few months.
Mukund Kulashekaran, the chief business officer (CBO) of the firm, was latest one to exit the company.
The report cited sources as saying that as many as five more exits might happen in the next six months. While three exits may take place in the technology team, rest would be in the marketing team of the company.
After Chaddah's exit, the company has shifted its focus to food delivery service and even brought in Mohit Kumar to devise a new strategy to take on Swiggy and Foodpanda. Kumar, co-founder of hyper local delivery firm Runnr, which Zomato acquired last year for around $20 million.
Zomato was founded in 2008 by Deepinder Goyal and Chaddah. Goyal continues to serve as the CEO of the company.
Zomato provides information and reviews on restaurants, including images of menus where the restaurant does not have its own website. It currently operates in 24 countries, including Australia and United States.
