The founder of Zomato, Deepinder Goyal, has come a long way since founding the company in 2008, and he recently reached a significant milestone by becoming the newest billionaire in India.
Goyal’s Billionaire Status
Zomato’s shares have increased over 300% in the last two years, and Deepinder Goyal’s 4.19% ownership in the company is largely responsible for his rise to billionaire status. His holdings in the company today total about 36.95 crore shares, which adds to its $24.25 billion (Rs 2.01 lakh crore) market valuation.
Journey and Achievements
Deepinder Goyal, who was raised in Muktsar, Punjab, attended DAV College in Chandigarh and the Indian Institute of Technology in Delhi before earning his degree there in 2005. In 2008, he launched Foodiebay.com, which he eventually relaunched as Zomato in 2009. Under his direction, Zomato created history in 2021 when it became the first unicorn in India to go public, and it also expanded internationally.
Professional Milestones
Zomato’s path to success included becoming a unicorn firm in 2018, obtaining an initial funding round of Rs 4.7 crore, and subsequently growing its global presence. The company has successfully navigated through multiple fundraising rounds and achieved noteworthy milestones in the food tech market thanks to Goyal’s vision and leadership.
Personal Life and Investments
In addition to his career accomplishments, Deepinder Goyal has a dynamic balance in his personal life. Following his 2007 marriage to Kanchan Joshi, Goyal went on to wed Grecia Munoz, a Mexican model and businesswoman. He is an investor in companies including HyperTrack, SquadStack, Bira 91, and TerraDo, and he is actively involved in the startup environment. Among his possessions are several expensive cars and a 5-acre plot of property in the Dera Mandi area of Delhi.
Zomato’s Growth and Market Position
Zomato has shown strong development, with its operating revenue rising 71% year over year to Rs 12,114 crore in FY24 from Rs 7,079 crore in FY22. After posting a loss of Rs 971 crore in FY23, the company turned a big profit in FY24, reporting a profit of Rs 351,00 crore. Goldman Sachs claims that Zomato’s rapid commerce division has grown since it acquired Blinkit in 2022 for $568 million, pushing the company’s valuation past its main meal delivery business to $13 billion.
Final Thoughts
The trajectory of Deepinder Goyal’s career, from founding Zomato to becoming the latest billionaire in India, is a credit to his strategic vision and spirit of entrepreneurship. His persistent endeavours to broaden Zomato’s market reach and enhance India’s startup community attest to his lasting influence on the technology sector.
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