Zomato Founder Deepinder Goyal Joins the Billionaire Club

Zomato’s market value crossed Rs. 1.8 billion to a substantial high of Rs. 230 on the BSE

Deepinder Goyal, the founder and CEO of Zomato, entered the billionaire club, followed by Zomato’s exceptional rise in shares. Securing a net worth of over 8,300 crores, the 41-year-old tycoon is the wealthiest professional manager in India. Goyal’s achievement was boosted by Zomato's stock, which has surged more than 300 percent since its decline in July 2023. Increasing the confidence of investors in the company’s future promises, Zomato’s market value crossed Rs. 1.8 billion to a significant high of Rs. 230 on the BSE.

A key to Zomato’s recent surge in shares is its rapidly growing quick commerce arm, Blinkit, which has surpassed rivals such as Swiggy, Instamart, and Zepto. Analysts predict that Blinkit, now valued at $13 billion, will eclipse Zomato's core food delivery business by FY2029 in terms of both gross order value (GOV) and EBITDA. While Blinkit expects a longer road to profitability compared to its food delivery counterpart, Goyal is optimistic about continued growth through strategic investments. Goyal established Zomato in 2008, originally as FoodieBay.com, later rebranded as Zomato.com. Under his successful leadership, India emerged as a leader in food technology, attaining unicorn status in 2018.

Goyal’s journey from middle class to billionaire status reflects not only personal success but also the transformational impact of India’s startup ecosystem.