From IIT to a Billionaire
Deepinder Goyal, the CEO and co-founder of Zomato, has achieved a remarkable milestone by joining the billionaire club. His journey from an IIT alumnus to a key figure in India’s entrepreneurial landscape is a testament to his vision and business acumen.
Educational and Professional Background
Deepinder Goyal graduated from IIT Delhi in 2005 with a degree in Mathematics and Computing. He started his professional journey at Bain & Company, a management consulting firm. It was during his tenure there that he got the idea to start his own venture, which eventually led to the inception of Zomato[1][3].
The Genesis of Zomato
In 2008, Goyal, along with his co-founder Pankaj Chaddah, founded their food delivery company, initially named Foodiebay. The company expanded its operations globally, reaching countries like South Africa, Canada, UAE, and New Zealand[1][3].
Financial Overview
Currently, Goyal holds a 5.5% stake in Zomato. His salary in 2020 exceeded Rs 3 crore but saw a significant decline to Rs 1.96 crore in 2021, following his decision to forgo a salary for the next three years. His estimated net worth stands at Rs 2030 crore. In 2022, he donated ESOP shares worth Rs 387 crore to the Zomato Foundation, dedicated to the well-being of the company’s delivery partners, bringing the total worth of his ESOP proceeds to nearly Rs 700 crore[1][3].
Company Performance
Zomato surprised the market with a net profit of Rs 36 crore in the September quarter of 2022, following a profit of Rs 2 crore in the preceding June quarter. Despite a reported loss of Rs 251 crore in 2022, the company rebounded with a significant revenue increase of 72%, reaching Rs 2,848 crore in the second quarter of 2023[1][3].
Diversified Investments
Beyond Zomato, Goyal has proven his acumen as an investor by participating in various start-ups, including Bira 91, HyperTrack, TerraDo, and SquadStack[1][3].
Recent Developments
Deepinder Goyal has recently joined the upcoming season of Shark Tank India, which is expected to release in 2024. He will be joined by esteemed Sharks from previous seasons and new faces like Ritesh Agarwal, Ronnie Screwvala, Radhika Gupta, and Azhar Iqubal[1][3].
FAQs
Q: What is Zomato’s current market valuation?
A: Zomato’s market capitalization has surpassed Rs 1 lakh crore after its IPO was subscribed more than 40 times[6].
Q: How did Deepinder Goyal get the idea for Zomato?
A: Goyal got the idea for Zomato while working at Bain & Company. He realized that their office café had limited options, and he and his colleagues would often discuss the lack of variety in food options[6].
Q: What is the current net worth of Deepinder Goyal?
A: Deepinder Goyal’s estimated net worth stands at Rs 2030 crore[1][3].
Conclusion
Deepinder Goyal’s journey from an IIT alumnus to a billionaire is indeed inspiring. His strategic diversification of wealth across various business sectors and his commitment to the well-being of Zomato’s delivery partners are notable. As he appears on Shark Tank India, his entrepreneurial journey continues to be a source of inspiration for many budding entrepreneurs.
Call to Action
Follow Deepinder Goyal’s journey on Shark Tank India and learn from his entrepreneurial insights.
Disclaimer
The information provided in this article is for general knowledge purposes only and should not be considered as financial advice.
References
[1] https://www.financialexpress.com/life/lifestyle-entrepreneurial-brilliance-dive-into-the-success-story-of-zomatos-ceo-deepinder-goyal-iit-alumni-with-rs-2030-crore-net-worth-3352750/
[2] https://www.forbes.com/profile/deepinder-goyal/?list=rtb
[3] https://www.gqindia.com/content/zomato-co-founder-and-ceo-deepinder-goyal-joins-shark-tank-india-3-heres-everything-you-need-to-know-about-the-new-shark
[4] https://www.indiatimes.com/entertainment/originals/heres-the-success-story-of-zomato-ceo-deepinder-goyal-625949.html
[5] https://economictimes.indiatimes.com/magazines/panache/zomato-founder-deepinder-goyal-splurges-rs-4-5-cr-on-indias-1st-aston-martin-db12-sport-car/articleshow/108498117.cms
[6] https://www.ndtvprofit.com/business/zomato-s-deepinder-goyal-is-now-a-billionaire-in-waiting
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