Hailed As 'Breath Of Fresh Air' On Shark Tank India 3, Here's The Success Story Of Zomato CEO Deepinder Goyal

From an IIT alumnus to becoming a billionaire, here is the success story of Zomato CEO Deepinder Goyal, who is being called a breadth of fresh air on Shark Tank India season 3.

Garima SatijaUpdated: Jan 24, 2024, 16:59 IST
2 min read
Zomato CEO Deepinder Goyal
Twitter

When he talks, you sit back and listen! Currently seen on Shark Tank India season 3, Zomato CEO Deepinder Goyal is already being compared to the most popular shark on the show Ashneer Grover. Several other fans of the show are calling him a breadth of fresh air. The man whose net worth is reportedly Rs 2,030 crores, is a source of inspiration for budding entrepreneurs.

Here's The Success Story Of Zomato CEO Deepinder Goyal

Zomato CEO Deepinder Goyal SonyLiv

From IIT to a billionaire!

Deepinder Goyal has a degree in Mathematics and Computing from IIT Delhi. He graduated in 2005. He landed his first job at Bain & Company, a consulting firm. It was during this time that he got the idea of building a food delivery platform Zomato.

How did he get the idea of building Zomato?

When Goyal was working at Bain & Company, he saw a lot of people standing in long queues to place their orders. That is when he and his colleague Pankaj Chaddah thought this problem should be solved and food should be to be delivered to people at their doorstep.

Rapid expansion

Deepinder Goyal Twitter

In 2008, Deepinder Goyal founded the company which was then called Foodiebay along with co-founder Pankaj Chaddah. At this point in time, it was just a restaurant listing and recommendation portal. In 2011, Zomato expanded across India to Delhi NCR, Mumbai, Bangalore, Chennai, Pune, Ahmedabad and Hyderabad. Later, the company expanded globally to the United Arab Emirates, Sri Lanka, Qatar, the United Kingdom, the Philippines, and South Africa, and it was renamed as Zomato. In 2014, it was launched in Portugal. In 2015, it was launched in Canada, Lebanon, and Ireland.

In 2015, Zomato had acquired a Seattle-based restaurant discovery portal called Urbanspoon, thus marking its entry into the US and Australia.

Food Delivery service

Zomato expanded its horizons in 2015 with food delivery. For this, the company partnered with Delhivery and Grab for delivery service. In the same year, it also launched a table reservation feature.

In April 2015, Zomato acquired MapleGraph Solutions, a cloud-based point-of-sale (PoS) company, which eventually helped it introduced Zomato Base, its own PoS system tailored for restaurant proprietors that comprised new features such as menu and inventory management, a payment system, and analytical tools. During the same year, Zomato also acquired Sparse Labs, rebranded as Zomato Trace, and seamlessly integrated its cutting-edge real-time delivery location tracking technology into the food delivery platform.

In 2017, the company founded by Deepinder Goyal launched Zomato Infrastructure Services, a cloud kitchen infrastructure service that helped their partner restaurants expand their presence without incurring any fixed costs. Later, it launched Zomato Gold, a paid membership that gave customers discounts and other offers.

Zomato CEO Deepinder Goyal Twitter

The biggest challenge: Covid-19 pandemic

The business hit a low during the pandemic. Deepinder Goyal who was reportedly taking home a salary of Rs 3 crores in 2020 had reportedly cut it down to Rs 1.96 crore in 2021. While there was a decline in food orders, the demand for delivery of groceries was increasing. So, Zomato started delivering groceries. It also introduced a contactless dining experience at its partner restaurants.

After the pandemic

In 2021, it ceased its operations everywhere apart from India and New Zealand. In 2022, it acquired Blinkiit. In the same year, Zomato started Intercity Legends in Delhi NCR which enabled their customers to order food from other cities as well.

Deepinder Goyal's journey from an IIT alumnus to becoming a billionaire is indeed inspiring! What's your take on his appearance on Shark Tank India season 3? Let us know in the comments section below.

For more news and updates from the world of OTT, and celebrities from Bollywood and Hollywood, keep reading Indiatimes Entertainment.

Garima IndiaTimes

Garima Satija leads the Entertainment vertical of Indiatimes. A storyteller at heart who enjoys the thrill of writing, she is sometimes found daydreaming about living the lives of movie characters. Also, she hates talking about herself in the third person.

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