Deepinder Goyal, the founder and CEO of Zomato, has recently crossed into the billionaire club, thanks to the remarkable surge in Zomato’s stock prices. As of mid-2024, Goyal’s net worth exceeds ₹8,300 crore (approximately $1 billion), making him one of India’s wealthiest professional managers. This milestone was achieved following a 300% increase in Zomato’s stock price since July 2023, driven by the strong performance of its quick commerce division, Blinkit, and the continued profitability of its food delivery business.
The Journey to Billionaire Status
Growth of Zomato
Deepinder Goyal co-founded Zomato in 2008, initially as a restaurant menu aggregator named FoodieBay. The company was later rebranded to Zomato in 2010, and it rapidly grew into a leading food-tech platform in India and other international markets. Zomato’s successful IPO in 2021 and its subsequent business expansions, including the acquisition of Blinkit in 2022, have significantly increased Goyal’s wealth.
Impact of Blinkit
Blinkit, Zomato’s quick commerce business, has been a major contributor to Goyal’s rise in net worth. Acquired for $568 million, Blinkit has seen its valuation skyrocket to $13 billion, surpassing even Zomato’s core food delivery business in terms of future growth potential. This has played a key role in elevating Zomato’s market capitalization, which crossed ₹2 trillion in 2024.
FAQ
1. What is Deepinder Goyal’s current net worth?
As of 2024, Deepinder Goyal’s net worth is estimated to be over ₹8,300 crore (approximately $1 billion).
2. How did Goyal become a billionaire?
Goyal became a billionaire due to the significant rise in Zomato’s stock price, driven by the strong performance of its quick commerce and food delivery segments.
3. What role did Blinkit play in Goyal’s wealth?
Blinkit, Zomato’s quick commerce arm, saw its valuation increase dramatically, contributing significantly to the rise in Goyal’s net worth.
4. When did Zomato go public?
Zomato went public in July 2021, with an IPO that marked a significant milestone in the company’s growth.
5. What is Goyal’s stake in Zomato?
Deepinder Goyal holds approximately 4.24% of Zomato, which translates to about 36.95 crore shares.
