Deepinder Goyal: The Man Behind Zomato - Our Favourite Hunger Saviour

Deepinder Goyal: The Man Behind Zomato - Our Favourite Hunger Saviour

The food delivery segment in India has witnessed an unprecedented surge. Late-night cravings, urgent home delivery, etc. have now become the norm. Despite being a huge potential market in India at present, only 2-3 brands dominate this industry and Zomato is one of them.

Zomato is an Indian restaurant aggregator which delivers food in almost every Indian city. Zomato provides a complete reference for a restaurant. Right from menus to reviews, it covers all the aspects centered around a restaurant. Now, the question in your mind would be who found this brilliant startup to curb all your midnight cravings - it was founded by Deepinder Goyal and Pankaj Chaddah. Zomato is gradually building on its global presence. They have acquired about 12 startups in different countries including  foreign competitors to increase its foothold in other countries. In 2014, Zomato acquired Gastronauci, Poland’s restaurant search service, and Cibando, an Italian restaurant finder. They made their biggest acquisition in 2015 by acquiring Seattle based Urbanspoon for an estimated $60 million.

Initially named as Foodiebay when it began in 2008, the venture was later renamed as Zomato in 2010.


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Deepinder Goyal Biography:

Name Deepinder Goyal
Born 26th January, 1983 - Punjab, India
Age 38 (as of 2021)
Education Indian Institute Of Technology, Delhi
Occupation Co-Founder and CEO of Zomato
Wife Kanchan Joshi (Professor)
Net worth Rs. 2,200 crore (as of January 2021)

Lets look at Deepinder Goyal's Success Story, whose current net worth is Rs. 2,200 crore

Deepinder Goyal - Latest News
Deepinder Goyal - Education
Deepinder Goyal - The idea of Zomato
Deepinder Goyal - Zomato's Growth
Deepinder Goyal - Struggle
Deepinder Goyal - Raising funds for Zomato
Deepinder Goyal - The Dream Flight
Deepinder Goyal - Success Story : An Inspiration
Deepinder Goyal - FAQs

Deepinder Goyal Story

Deepinder Goyal - Latest News

1st January, 2021 - Deepinder Goyal proudly announced about the highest ever ordering velocity recorded by Zomato on December 31, 2020 by receiving a record of 4,100 orders per minute on New Year's eve.

1st January, 2021 - Deepinder Goyal hinted that Zomato, like other Indian startups, were reportedly eyeing the public markets in 2021.

December 2020 - Last year, when Deepinder came to know that his food delivery firm ranked at the bottom of the Fairwork India Ratings in 2020, he vowed to improve the working conditions for its employees.

Deepinder Goyal - Education

Hailing from a middle-class family, Deepinder Goyal had a modest upbringing. After completing his graduation from the prestigious Indian Institute of Technology, Delhi, his interest in food was an encouragement to conceive a venture that would help people have their lunch, breakfast, and dinner through the convenience of an app.

Deepinder Goyal - The idea of Zomato

Zomato logo
Zomato Logo

Ordering food from home wasn’t easy initially. To order food online, one had to choose from multiple restaurants without any information about the reviews and ratings. Discounts and offers on dining and food-delivery were almost non-existent.

After graduating from IIT Delhi, Deepinder joined Bain and Company as a Senior Associate Consultant in January 2006. During his tenure with Bain, he founded FoodieBay.com that later became Zomato.com. The idea of FoodieBay.com was his eureka moment. At Bain and Company, everyone had to stand in long queues to place their order. Deepinder and his colleague at Bain, Pankaj, came up with a creative solution for saving time they spent during ordering food.

It was then, the duo decided to create a website for food ordering for Bain employees using the company intranet. To their surprise, the website was a hit and received heavy traffic. Deepinder saw an opportunity that could revolutionize the food tech industry.



Deepinder Goyal - Zomato's Growth

Deepinder’s idea kickstarted a new era. Neither him nor his colleagues thought that their idea would give rise to one of the most popular food aggregation brands.

After their experiment and the response they got from it, they were forced to add more restaurants to the list. By the end of the year, FoodieBay.com was introduced in mega-cities like Kolkata and Mumbai. In the year 2010, their startup started serving customers in Pune and Bangalore.


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Deepinder Goyal - Struggle

Deepinder's initial hurdle came from his family who were reluctant on him leaving his stable job at the firm and join the startup journey and lifestyle. Deepinder's wife, Kanchan Joshi, whom he met at IIT, although was reluctant inititially, but later supported his new lifestyle completely. After establishing the startup in big cities, Deepinder hired Gunjan Patidar, another IITian, to assist the team in Operations. He had a hectic time running FoodieBay.com since the concept was unique and unknown to people at that time, difficulties were inevitable. During the first two years, they ran the website without any hurdles, but found it difficult to scale as more and more restaurants and pubs were being covered under Zomato. It was also a difficult time for them due to dwindling financial resources and trouble in securing funding.


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Deepinder Goyal - Raising funds for Zomato

When the Zomato team was desperate for funding, Info Edge came to its rescue. In August 2011, Info Edge invested $1 million in FoodieBay.com. This is when Deepinder and his team changed the name of the company to Zomato.com. The funding was a morale booster that prompted Deepinder and Pankaj to quit their jobs at Bain and Company and dedicate all their time towards the growth of Zomato.

After this, the trend of food delivery and ordering took India by storm, turning the tides for Zomato. Since their initial funding in 2011, they've gone on to be funded by several investors and has achieved the status of a unicorn in 2018. They ended 2020 by closing a $660 million primary financing round at a post-money valuation of $3.9 billion.

With rapid developments in the technology sector, Zomato modified its ways and launched its applications in iOS, Android, and Windows. Increasing popularity gave way to expansion in cities like Chennai, Hyderabad, and Ahmedabad.

After expansion, Zomato collaborated with Citibank which was named as “Citibank Zomato Restaurant Guide”.


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Deepinder Goyal - The Dream Flight

Under Deepinder’s guidance, the company expanded its operations in countries such as Dubai, UAE, SriLanka, Qatar, United Kingdom, South Africa, the Philippines, and New Zealand.

During FY 2011-2012, Zomato Media Pvt. Ltd. reported revenues worth INR 2.04 crores which ballooned to INR 11.38 crores during the financial year 2012-2013.

Zomato had around 2.5 million visitors on its website in March, 2012. This increased exponentially to 62.5 million during 2014. Their revenues surged too, INR 30.06 crore generated in 2012 as revenue increased to INR 96.7 crore in 2015.

Deepinder Goyal - Success Story : An Inspiration

Deepinder has shown how to grow a business by setting up examples for his co-workers. Working for 24 hours is never a cakewalk, especially when there’s pressure from parents upon leaving a well-settled job. Under his guidance, Zomato has received multiple awards, mostly user’s choice - which proves customer satisfaction. Rising from the lowest moments of despair and distress to revolutionizing an entire segment is no simple feat. That’s what Deepinder Goyal has achieved. A millennial cannot imagine life without Zomato—Deepinder has taken his venture to enviable heights!

Deepinder Goyal - FAQs

Who is Deepinder Goyal?

Deepinder Goyal is the Co-founder & CEO of Zomato.

How much is Deepinder Goyal's Net Worth?

Rs. 2,200 Crore (as of January 2021).

What is Deepinder Goyal's Education?

Deepinder Goyal did his graduation from Indian Institute of Technology, Delhi.

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