Zomato is an Indian restaurant assembly and food delivery company founded in 2008 by Deepinder Goyal and Pankaj Chaddha. Zomato has also begun grocery delivery amid the outbreak of COVID-19.  As of 2019, this service is available in 24 countries and 10,000 cities. ”
Zomato is slowly building on its global presence. They have acquired about a dozen startups in various countries, including external competition to increase their penetration in other countries. In 2014 Zomato acquired the Polish restaurant search service Gastronasi and Sibando, an Italian restaurant explorer. He made his biggest acquisition in 2015 with the acquisition of Seattle-based Urbanspoon for $ 60 million.
Foodtech Unicorn Zomato completed 11 years of age on 10 July this year. Founded in 2008 by Dipendra Goel and Pankaj Chadha, Zomato began its operations by scanning restaurant menus and putting them online.The rename of Zomato from Foodiebay happened in 2011.
The company, which was unilateral in 2018, said its burn rate was 60 percent six months ago. Zomato generated revenue of $ 205 million in the first half of FY 20, which was more than $ 206 million in FY 1919 revenue. However, it reported a loss of $ 294 million in FY 2019. As of September 2019, the company’s EBITDA was reducing losses by 40 percent compared to March 2019.
DEEPINDER GOYAL BIO/WIKKI
|Born||26th January, 1983 – Punjab, India|
|Age||37 (as of 2020)|
|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|
ABOUT DEEPINDER GOYAL
Deepinder Goyal was born in Muktsar, Punjab. He is from very humble and middle class family.Dipinder Goyal’s mother and father worked as teachers. Goyal completed his Bachelor’s in Mathematics and Computing from IIT Delhi in 2005.
After completing his graduation from the prestigious Indian Institute of Technology, Delhi, his interest in food was an incentive to encourage an enterprise that helps people in their lunch, breakfast and dinner through the convenience of an app will help.
DEEPINDER GOYAL PERSONAL LIFE
Goyal married Kanchan Joshi, whom he met during college life at IIT Delhi. Goyal’s wife Joshi was then pursuing an MSc in mathematics and both were used in laboratories. They have a lovely baby girl named Saira.
IDEA OF ZOMATO STORY START-UP
Getting food from home was not easy initially. To order food online, one had to choose from several restaurants without any information about reviews and ratings. Discounts and offers on food and meal delivery were non-existent.
After graduating from IIT Delhi, Deepinder joined Bain & Company in January 2006 as a senior associate advisor. During his tenure with Bain, he founded FoodieBay.com, which later became Zomato.com. FoodieBay.com’s idea was his Eureka moment. At Bain & Company, everyone had to stand in long queues to place their order. Deepender and his colleague Bain, Pankaj presented a creative solution; They wanted to save time for ordering food.
This was when the two decided to create a website on ordering food for Bain employees using the company’s intranet. To his surprise, the website was a hit and received heavy traffic. Deepinder saw an opportunity that would revolutionize the food technology industry.
ZOMATO’S GROWTH PERFOMNCE
Daminder said the number of restaurants globally on Zomato increased from 1.2 million to 1.5 million in September 2018. “Half of this growth comes from India alone,” said Deepinder.
In April 2015, the food aggregator acquired UST-based restaurant reservation and table-management platform NextTable in a cash and stock deal to provide this service to its users. Soon after January 2016, he started his restaurant reservation service called Zomato Book.
The CEO said that on the table reservation front, Zomato increased the cover from 800K booked in January 2019 to 1.3 million book cover in September 2019.
Its flagship product, Zomato Gold, increased its members to 1.4 million. As per FY19 report, Zomato globally had one million active customers in the month ended in March 2019. While less than five percent of restaurants participate in Zomato Gold, Zomato has less than five percent of its monthly active users (MAU) of Gold members. .
In the last six months, Zomato has executed more than 65,000 orders for 2,200 restaurants in Delhi and Bangalore. Food aggregator acquired Hyperpure to provide fresh and hygienic ingredients to its restaurant partners in 2018 and revenue from its warehouses was $ 6.5 million, compared to zero at H119, with a zero-to-10-fold increase IN H119.
In July, Zomato began collecting cooking oil (UCO) from restaurants, processing and distributing it to biodiesel manufacturing facilities. The company collects 130 tonnes of used oil per month from around 1,000 kitchens in Delhi-NCR and will expand operations to five more cities in October
GOYAL STRUGGLE JOURNEY
His initial hurdle was from his family which then reluctantly quit his stable job and joined the startup lifestyle. Deepinder’s wife, Kanchan Joshi, whom she met at IIT, though she was unethically reluctant, fully supported his lifestyle. After setting up startups in big cities, Deepinder hired another IITian Gunjan Patidar to assist the team in the operation. FoodieBay.com was a busy time at the time, as the concept was unique and unknown to people at the time, difficulties were unavoidable. During the first two years, he ran the website without interruption, but it was difficult that more and more restaurants and pubs were being covered under tomatoes. It was a difficult time for him due to lack of financial resources and trouble in obtaining funds.
ZOMATO RAISE FUNDS
When the Zomato team was desperate for funding, Info Edge came into the picture. 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 boost that prompted Deepinder and Pankaj to quit their jobs at Bain & Company and devote all their time towards the development of Zomato.
Subsequently, the trend of food delivery and ordering took India by storm, turning the tide for Jomato. Since his initial fund in 2011, he was funded by many investors and achieved unilateral status in 2018. They are finished by 2020, closing a $ 660 million primary financing round at a post-money valuation of $ 3.9 billion.
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