Startup Story of Zomato: Transforming the Food Industry
This is the inspiring startup story of Zomato, a renowned food delivery and restaurant discovery platform. From its humble beginnings to becoming a global leader, learn about its founders, major milestones, notable investors, recent financial performance, and future ambitions.
What is Zomato?
Zomato is one of the most comprehensive and user-friendly apps where people can search for nearby restaurants and cafes, order food online, and get it delivered to their doorstep in no time. Moreover, you can also get accurate information about restaurants as it provides menus, reviews, and ratings. Based on that, users can place orders and enjoy lip-smacking food at their homes.
How it all started?
Zomato, founded in 2008, emerged from the vision of two enterprising individuals, Deepinder Goyal and Pankaj Chaddah.
Initially they have started it as a website of restaurant-listing-and-recommendation portal.
When the founders launched this website, it wasn’t called Zomato back then, it was called Foodiebay. And it initially started out in Delhi, then the services were extended to cities like Mumbai and Kolkata.
With the tremendous user base and growth rates that Foodiebay brought in to the founders, they decided to modify it and take it international. That’s when this venture started being called Zomato, as we know it today. It was in 2010 when Foodiebay was officially rechristened as Zomato.
The interesting fact about Zomato: Around 2010-11, Deepinder realized the trend of .xxx domain and food porn. He has launched Zomato.xxx domain for the purpose of displaying delicious food. They have received the great response from users that time!
Recognizing the need for a comprehensive online platform to search for restaurants and order food, Deepinder Goyal and Pankaj Chaddah embarked on their entrepreneurial journey.
Zomato – Founders and Team
Presently, Deepinder Goyal leads Zomato as the Founder and CEO, spearheading its growth and expanding its global footprint. Alongside him, Gunjan Patidar plays a crucial role as the Co-Founder and CTO, driving technological innovation within the company.
Milestones Achieved by Zomato
Zomato has achieved remarkable milestones since its inception. It rapidly expanded its services to various cities in India and expanded internationally, covering more than 24 countries. With a vast database of restaurants and user-generated reviews, Zomato has become a go-to platform for food enthusiasts worldwide.
Investors: Zomato has attracted significant investments from prominent investors. Notable names include Alibaba’s Ant Group, Temasek, Sequoia Capital, and Info Edge. These investments have fueled Zomato’s growth and enabled it to enhance its technology, expand its delivery network, and diversify its offerings.
Financial Performance of Zomato
Zomato’s recent financial numbers showcase its robust performance. In its initial public offering (IPO) filing in 2021, the company reported a revenue of INR 19,903 crore (approximately USD 2.7 billion) for the fiscal year 2020-21. However, it also reported a net loss of INR 812 crore (approximately USD 110 million) during the same period, primarily due to investments in market expansion and acquisitions.
Future Goals of Zomato
Looking ahead, Zomato has ambitious goals. It aims to further expand its presence in existing and new markets, diversify its offerings, and enhance customer experience through innovative technology. The company is keen on exploring emerging trends such as cloud kitchens, contactless dining, and sustainability initiatives to stay at the forefront of the industry.
Zomato – Heading towards success
Deepinder Goyal, in a recent interview, highlighted Zomato’s commitment to transforming the food industry. He emphasized the company’s dedication to building a sustainable business model, focusing on customer satisfaction, and fostering strong relationships with restaurant partners.
Prime Minister Narendra Modi commended Zomato CEO Deepinder Goyal for his entrepreneurial achievements, emphasizing the value of diligence over lineage in modern India.
Deepinder Goyal thanked Government of India. He said – “This government and their initiatives enabled a small town boy like me to build something like Zomato, which employs lakhs of people today!”
Conclusion about Zomato’s Startup Story
Zomato’s success story exemplifies the power of innovation and entrepreneurship. With its user-friendly platform, extensive reach, and commitment to customer satisfaction, Zomato has reshaped the way people discover and enjoy food globally. As it continues its journey, Zomato remains a force to be reckoned with, poised to redefine the future of the food industry.
FAQs about Zomato and it’s founding team
Who is the CEO of Zomato?
Deepinder Goyal is the Founder of Zomato. He is the Managing Director and the Chief Executive Officer ( CEO ) of Zomato.
How Zomato platform works?
Zomato’s user-friendly app is one of the reasons why people prefer to order food online. Now using their mobile device to order food, Zomato enables them to get a meal at their location without any trouble.
Zomato is one of the most popular made in India mobile apps.
