Zomato‘s founder and CEO, Deepinder Goyal, has joined the elite club of Indian billionaires.
What Happened: Goyal's net worth surged to nearly ₹8,400 crore, representing a wealth of over $1 billion, according to media reports. The development comes as Zomato's shares soared to an all-time high on Monday.
The 41-year-old reportedly owns 36.95 crore shares of the food-delivery app, representing a 4.24% stake in the company.
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On Monday, Zomato clocked its best day ever as shares raced to a record high of ₹232 after the firm hiked its platform fee by 20% to ₹6 in key markets like Delhi and Bengaluru. With this, Zomato's market capitalisation breached the ₹2 lakh crore mark, overtaking companies like Tech Mahindra and Tata Consumer in the Nifty 50 index.
Zomato's turnaround has also been attributed to the success of its quick-commerce business Blinkit, which it acquired in 2022. Blinkit now has a higher implied value than Zomato’s core food delivery business, according to a note by Goldman Sachs. Blinkit is valued at $13 billion (1.09 lakh crore), up from $2 billion (₹16,720 crore) in March 2023, it added.
Goyal graduated from the Indian Institute of Technology, Delhi in 2005. He founded Zomato in 2008, while still working as a consultant in Bain & Company.
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