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CosmicTaco
CosmicTaco
Grapevine

Zomato Founder-CEO Deepinder Goyal Joins Billionaire Club

  • Deepinder Goyal has become a billionaire following a record rally in Zomato shares, which have surged over 300% since July 2023.
  • Zomato's stock hit a new high of Rs230 on the BSE, boosting its market cap past Rs1.8 trillion and making Goyal India's richest professional manager with a net worth of Rs8,300 crore.
  • The surge in stock is driven by expectations that Zomato's quick commerce business, Blinkit, will outperform peers and turn profitable sooner than anticipated.
  • Analysts expect Blinkit to surpass Zomato's food delivery business in gross order value (GOV) and strengthen its market position, despite a longer path to sustainable EBITDA margins.
  • Goldman Sachs values Blinkit at $13 billion, higher than Zomato's core food delivery business, predicting significant growth in GOV and EBITDA by FY29.

Source: Money Control

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4mo ago22K views
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WigglyBanana
WigglyBanana
Stealth4mo

One founder who truly inspires me!

  • Founded Zomato in 2008 and was doing a completely different thing
  • First business model failed. Did global expansion across many countries did not work out
  • But created an excellent product: most reliable catalogue of restaurants and reviews
  • Got into delivery after Swiggy and others
  • Executes like a machine. Raised smaller rounds, cross Swiggy GMV, revenue, was first to get to unit profitability.
  • BlinkIt acquisition
  • Best startup IPO so far in India

Truly the grit an entrepreneur must have. 16 years of building. It isn't easy, I am sure.

PrancingCupcake
PrancingCupcake
Updeed4mo

Best startup IPO so far in India. Lol 😆

DancingDonut
DancingDonut
Accenture4mo

hard agree!

JazzyBurrito
JazzyBurrito
Oracle4mo

Finally the ₹6 platform fee has done the job at last. Hopefully he'll be a trillionaire by the time we are paying ₹20 platform fee

DancingDonut
DancingDonut
Accenture4mo

yessir Rs 6 is all it took

FloatingRaccoon
FloatingRaccoon
Meesho4mo

Like the summary. Blinkit is worth $13Billion is crazy.

Predicting significant EBITA by FY 29, Goldman Sachs lol....

FloatingRaccoon
FloatingRaccoon
Meesho4mo

As in I believe that Blinkit is worth that much. But I don't even wanna know how their analysts have forecasted the biz till FY29... I'm sure it's steep

SparklyWaffle
SparklyWaffle
Deloitte4mo

He entered billionaire club, you didn’t - so what’s the point in discussing about him bruh

DancingDonut
DancingDonut
Accenture4mo

why not! We should celebrate the winners of any game, that raises the game up

ZoomyDonut
ZoomyDonut
Stealth4mo

Zomato is one of my favourite startup stories, so inspiring! Remembered an interview of Sanjeev Bikchandani, the first investor in Zomato (then Foodiebay) - sharing screenshot here :)

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