InMobi’s co-founder and President of OEM and telco solutions, Amit Gupta, is stepping down from his executive role within the company in just after five months. It is moving on to launch internet of things-driven bicycle sharing startup Yulu.
Amit Gupta, who will become the CEO of Yulu, will also remain involved with InMobi as co-founder. In a statement, he said,
I am not leaving InMobi. I have always had a desire to be aligned with a social cause. This idea has germinated into something that finally fulfils this need. Naveen and my fellow co-founders have been an integral part of seeing me through this process. I will continue as co-founder at InMobi minus the operational capabilities.
Commenting on this development, the company released a statement. It said:
We have always encouraged entrepreneurship at InMobi. The fact that we have been able to extend entrepreneurial support to our employees is a testament to that commitment. We are supportive of Amit’s second plunge into social entrepreneurship and his desire to give back to the community. Amit will be partially operating this venture out of the InMobi office for as long as he needs to. He will continue to be with InMobi as co-founder.
Amit has become the second co-founder of InMobi who is stepping down. Earlier this year, another co-founder and chief technology officer Mohit Saxena had stepped down to start a new venture.
Mohit Saxena, Amit Gupta, Abhay Singhal and Naveen Tewari co-founded InMobi in 2006. With Gupta and Saxena stepping down from executive positions, InMobi is now left with CEO Tewari and chief revenue officer Singhal, among co-founders.
The company is best known to be India’s first unicorn and happens to be the first startup to be backed by Japanese investment giant SoftBank which put in $200 million in the company in 2011.