Deepinder Goyal and Pankaj Chaddah founded Zomato. It is a food delivery app. The restaurants use the Zomato app and keep delivery boys to deliver the food all over India. And other countries are using Zomato. People can use the app to order food online, and door-to-door services are available.
ABOUT DEEPINDER GOYAL
DEEPINDER GOYAL was born on January 26, 1983. He was the founder and CEO of Zomato. He completed his graduation from IIT Delhi in 2005; When he worked as a management consultant at Bain & Company in New Delhi, he saw the menu cards; there was a demand for that cards. He got an idea of Zomato from that. He left the job at Bain and company; he started his food business startup FOODIEBAY in 2008. Later he named it zomato in2010.
INVESTMENTS
He started investing in 2015 in startup ventures like squad stack, bira91, terra.do etc. he invested $14M in terra. Do. In 2018, Ant Financial, Alibaba’s payment unit, Invested 210 million dollars in Zomato in exchange for a 10% ownership position in the company. Zomato is expected to be worth $2 billion as a result of this investment.
Zomato Limited will go public in July 2021, with IPO dates from July 14 to July 16. The Company will raise $1.1 billion from the public through the IPO. Senior employee Akriti Chopra, who has worked with Zomato for decades, was promoted to co-founder of the firm ahead of the IPO. Deepinder Goyal has a personal net worth of Rs.2200 crores.
PANDEMIC PROBLEMS
Meal delivery apps are going above and beyond to keep their businesses afloat. Food ordered from Zomato was packaged with a double-layer of packaging, which was not the case before. The delivery partner claimed to have Zomato masks and a hand sanitizer container, which he was instructed to use before each delivery. Yet, because he claimed to have breathing problems and couldn’t wear a mask at all times, The Zomato delivery person who delivered our meal did not wear a mask.
People are afraid to order food online, Zomato, Swiggy, etc. because delivery persons travel to different homes to deliver and travel outside if they don’t wear a mask. We will get the virus, so people are afraid to order the food. In a pandemic, they lost so many orders, there was no work for delivery persons, and restaurants were closed for Zomato, there was a loss.
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DEEPINDER- STRUGGLE
Deepinder’s first stumbling block came from his family, Who was hesitant to see him leave his secure employment at the firm and go on the startup path.
Deepinder’s wife, Kanchan Joshi, whom he met at IIT, initially hesitated but supported his new lifestyle. Deepinder hired Gunjan Patidar, another IITian, to aid the team in Operations when the firm was established in major cities.
He had a busy time running FoodieBay.com because the concept was novel and unknown at the time. Thus challenges were unavoidable.
They successfully maintained the website for the first two years but found it challenging to scale as the number of restaurants and bars covered by Zomato grew. Due to declining financial resources and difficulties in acquiring finance, it was also challenging for them.
CONCLUSION
In 2021, Company has earned near 2200 crores. The idea of deepinder was more helpful. Deepinder has set an example for his coworkers by demonstrating how to establish a firm. Working for 24 hours is never easy.
Especially when parents put pressure on you to leave a well-established job, Zomato has won many honours under his leadership, most of which have been user-voted, demonstrating customer satisfaction.
A millennial can’t imagine life without Zomato, and Deepinder has achieved incredible success with his company.
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