The latest addition to India's billionaire list is Deepinder Goyal, the CEO of Zomato, who is said to be revolutionizing the food delivery industry. With a net worth exceeding Rs. 8,300 crore, Goyal has joined the ranks of the ultra-rich.
Zomato CEO Deepinder Goyal's Success Journey
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Hailing from Muktsar, Punjab, Deepinder Goyal was born on January 26, 1983. Goyal's journey to success commenced at IIT Delhi, where he pursued Mathematics and Computing. Upon graduation, Goyal embarked on a career as a senior associate consultant at Bain and Company. It was during this time that he crossed paths with Pankaj Chaddah, who would eventually become his co-founder in a venture that would revolutionize food delivery in India.
Zomato CEO Deepinder Goyal Net Worth
In 2008, while still employed at Bain and Company, Goyal established FoodieBay.com. Driven by a love for good food and a desire to simplify meal deliveries, they created what quickly became the largest restaurant directory in Delhi-NCR.
Media reports, including The Economic Times, highlighted the swift attraction of investors. Contributions poured in from Info Edge India, Sequoia, Vy Capital, Temasek, and Ant Financial, an Alibaba affiliate. An influential $200 million investment from Ant Financial propelled the company, now known as ‘Zomato,’ to unicorn status in the 2018-19 fiscal year.
A Goldman Sachs study revealed that Zomato's acquisition of Blinkit for $570 million in 2022 was the primary driver of its recent success. Blinkit's rapid expansion has exceeded expectations and is now valued at $13 billion, surpassing even Zomato's core food delivery business.
Zomato shares have witnessed a record rally, soaring more than 300% since July 2023. The stock recently touched a new high of Rs 230 on the BSE, which took the market capitalization of the company beyond Rs 1.8 trillion. Goyal's 4.24% stake in the company—36.95 crore shares—catapulted him into the billionaire ranks.
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Deepinder Goyal's Luxury Lifestyle
Goyal's success did not go unnoticed in the entertainment world. Recently, he appeared as one of the judges in Shark Tank.
His style of living is royal, though. The 41-year-old, who recently got married to Grecia Munoz, a Mexican entrepreneur, has a 5-acre property in Mehrauli, New Delhi. According to CRE Matrix, he recently bought two more plots measuring 2.5 acres each for a total of Rs 79 crore. According to Deccan Chronicle, Goyal's collection includes:
- A Ferrari Roma worth Rs 4.76 crore
- A Porsche 911 Turbo with a price tag of Rs 3.35 crore
- A Lamborghini Urus worth Rs 4.18 crore
- An Aston Martin DB12 for Rs 4.59 crore
The Future of Food Delivery
The journey of Deepinder Goyal, from IIT graduate to billionaire, inspires and motivates the aspiring entrepreneurs at heart in India, while Zomato is growing and innovating in its journey. With food delivery and quick commerce showing no signs of slowing down, it is pretty sure that the story of Goyal has just begun.
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