When the CEO of Zomato had to put a long line for food, only then came the thought and stood for 1 lakh crore company

When the CEO of Zomato had to put a long line for food, only then came the thought and stood for 1 lakh crore company


New Delhi. You must be familiar with Zomato… yes the same Zomato app.. from where you order food sitting at home. Today, most of the people are relying on this food delivery app. Today a small company has turned into a company with a value of 1 lakh crores. You know there’s only one reason behind this – the idea! Yes, a brilliant idea, which had tested this need of people 10 years ago. Let us tell you that Deepinder Goyal and Pankaj Chadha are behind this brilliant idea. Let’s know the success story of Zomato…

Today’s listing of Zomato IPO in the market
Shares of food delivery company Zomato (Zomato IPO) have been shared at Rs 115 on BSE today. This is 51.32 percent higher than the issue price i.e. Rs 39. While the listing of Zomato shares on NSE has been done at Rs 116. After the listing, there has been a steady rise in the shares of Zomato. The company’s shares were trading at Rs 138.50 on NSE at 10.07 am. The market cap of the company’s shares has exceeded Rs 1 lakh crore. In terms of market cap, it has become the number 45 company in India.

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How was Zomato started?
Let us tell you that Zomato is a food aggregator app on which there are menu cards of many hotels or dhabas near you. With these menu cards, you can order according to you and get it delivered directly to your address. This will save you a lot of time because otherwise you would have to come out on your own. Today there are crores of active users of this app. The first idea to start Zomato came to Deepinder Goyal and Pankaj Chadha in the year 2008. At that time he started the company as a restaurant and food listing website called ‘Foodibay’. Hailing from IIT-Delhi, the two founders met when they were working in a firm called Bain Consulting.

How did Zomato come to mind?
Zomato’s CEO Deepinder Goyal was not good in studies in his early days. This is the reason why he had also failed twice in class VI and XI. However, later he studied seriously and he completed his engineering from IIT Delhi by cracking the IIT exam in the first place. After completing his studies from here, Deepinder started a job in the management consulting company Bain & Company in 2006. While on the job, he saw his co-workers standing in long lines for the cafeteria menu card during lunch. Due to this an idea came in his mind and he scanned the menu card and put it on the site which became very popular. Then he talked to his cousin Pankaj Chadha on this.

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Company started getting funding
At one time Zomato was earning its revenue only through advertisements on its website. As of November 2013, Sequoia Capital India had led a $37 million funding round for the company. Both investors at the time, Sequoia and existing investor Info Edge, saw a valuation of only $150 million, considering Zomato. The story of Zomato and its founders is that of an underdog who no one had imagined would become the front runner. However, Goyal is not very fond of headlines.

Tags: business news in hindi, Food business, IPO, Success Story, successful business leaders, Zomato


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