Priyanka Sahay Moneycontrol News
Mukund Kulashekaran, who was elevated to the post of chief business officer from his earlier stint of global business head of online ordering at Zomato, is learnt to have exited the firm, according to a person familiar with the matter.
His exit comes barely two months after his promotion and the exit of Zomato's co-founder Pankaj Chaddah in March. Interestingly, these exists are happening at a time when Zomato is also in talks to raise funds to fight cut-throat competition from rival Swiggy.
Both Kulashekaran and Zomato did't respond to Moneycontrol's query sent a day before.
According to our source, Kulashekaran exited in May, adding to the list of many senior level exits from Zomato in the last few months.
Chaddah quit the firm in March after spending 10 years, saying he wanted to start something new. Samir Kuckreja, president of Zomato’s cloud-based point-of-sale system, Zomato Base, quit the company towards the end of last year. His exit was reported to have happened within eight months of joining Zomato.
Kulashekaran's elevation was seen as a big move within the company. However, the reason behind his sudden exit couldn't be ascertained.
Zomato and Swiggy are both reported to be in talks to raise a fresh round of funding. Investors such as Alibaba and SoftBank are learnt to have expressed interest. The companies are expected to raise around USD 200-300 million each.
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