Meet India's New Billionaire with 8,300 Crore Net Worth
By : DC Web Desk
Update: 2024-07-15 10:09 GMT
Hyderabad: Deepinder Goyal, the co-founder, and CEO of Zomato, has joined the elite club of billionaires of India as Zomato shares surged over 300 per cent since last year, reaching a current market cap of Rs 1.8 Lakh Crore, as per Moneycontrol.
Goyal, 41, also became India's richest professional manager as his net worth was above Rs 8,300 crore.
According to an Inc42 article, Deepinder Goyal, who came from a middle-class family initially, co-founded the food delivery business Zomato in 2008 with Pankaj Chaddah. At the time, they were both analysts at Bain & Company, and they initially called the company "Foodiebay." They both graduated from IIT Delhi, with Goyal having a background in computer science and mathematics.
In just nine months, Foodiebay became the largest restaurant directory in Delhi-NCR. After two months, the company was renamed Zomato and began receiving funding from investors including Info Edge India, Sequoia, Vy Capital, Temasek, a Singaporean investment firm, and Ant Financial of Alibaba.
After receiving a $200 million investment from Ant Financial, the company achieved unicorn status in the 2018–19 fiscal year. Pankaj Chaddah left the company in the same year.
According to an Inc42 article, Deepinder Goyal, who came from a middle-class family initially, co-founded the food delivery business Zomato in 2008 with Pankaj Chaddah. At the time, they were both analysts at Bain & Company, and they initially called the company "Foodiebay." They both graduated from IIT Delhi, with Goyal having a background in computer science and mathematics.
In just nine months, Foodiebay became the largest restaurant directory in Delhi-NCR. After two months, the company was renamed Zomato and began receiving funding from investors including Info Edge India, Sequoia, Vy Capital, Temasek, a Singaporean investment firm, and Ant Financial of Alibaba.
After receiving a $200 million investment from Ant Financial, the company achieved unicorn status in the 2018–19 fiscal year. Pankaj Chaddah left the company in the same year.
Goyal presently owns 3.95 crore shares of Zomato, amounting to a 4.24% stake in the food delivery company that also owns the Blinkit quick commerce giant.
One of the main causes of the Zomato share boom was the growth of Blinkit. According to a recent Goldman Sachs note, which Moneycontrol cited, Blinkit's indicated value has surpassed that of Zomato's core food delivery business.
At the moment, Blinkit is worth $13 billion. Zomato had held about 10% of the business since the previous year when it was purchased by the corporation in 2022 for $568 million. It is currently reportedly expanding more quickly than rivals like Zepto and Swiggy's Instamart.
After the food delivery aggregator announced a 6 platform fee hike per order for markets like Delhi and Bangalore, Zomato's share prices reached an all-time high of Rs 232 on the Bombay Stock Exchange on Monday, according to the Economic Times.
As of July 15, 11:45 A.M., Zomato shares are trading at Rs 227.75 on the Bombay Stock Exchange, up 2.38% from the day before.
One of the main causes of the Zomato share boom was the growth of Blinkit. According to a recent Goldman Sachs note, which Moneycontrol cited, Blinkit's indicated value has surpassed that of Zomato's core food delivery business.
At the moment, Blinkit is worth $13 billion. Zomato had held about 10% of the business since the previous year when it was purchased by the corporation in 2022 for $568 million. It is currently reportedly expanding more quickly than rivals like Zepto and Swiggy's Instamart.
After the food delivery aggregator announced a 6 platform fee hike per order for markets like Delhi and Bangalore, Zomato's share prices reached an all-time high of Rs 232 on the Bombay Stock Exchange on Monday, according to the Economic Times.
As of July 15, 11:45 A.M., Zomato shares are trading at Rs 227.75 on the Bombay Stock Exchange, up 2.38% from the day before.