Deepinder Goyal | Zomato, Net worth, Education, Wife, Biography & Facts.

Deepinder Goyal is an Indian entrepreneur who revolutionized the food delivery segment in India and beyond with his venture Zomato. He is the co-founder and CEO of Zomato, which is available in more than 24 countries and serves more than 10,000 cities. Zomato provides a complete reference for restaurants, from menus to reviews, ratings, discounts, and offers. Zomato also acquired several startups in different countries, including its former competitor Grofers, to expand its presence and offerings. In this post, we will explore the life and achievements of Deepinder Goyal, who has a net worth of Rs. 2,030 crore as of 2024.

Quick Info

• Personal Details

  • Name: Deepinder Goyal
  • Nickname: Deepi, DG
  • Date of Birth: 26 January 1983
  • Birthplace: Muktsar, Punjab, India
  • Zodiac Sign: Aquarius
  • Nationality: Indian
  • Hometown: Muktsar, Punjab, India
  • Marital Status: Married
  • Spouse: Kanchan Joshi (Mathematics professor at Delhi University)
  • Children: One daughter (Siara Goyal)
  • Food Habit: Non-vegetarian
  • Favourite Food: Butter Chicken
  • Favourite Colour: Red

• Professional Details

  • Education: Indian Institute of Technology, Delhi (Graduation in Mathematics and Computing)
  • Profession: Entrepreneur
  • Famous for: Being the founder and CEO of Zomato
  • Salary: Abstained from receiving any earnings for three consecutive financial years (2021-2023)
  • Net Worth: Rs. 2,200 crore (2024)
  • Car Collection: Ferrari Roma, Porsche 911 Turbo S, Porsche Carrera S, Lamborghini Urus

Early Life and Education

Deepinder Goyal was born in a middle-class family in Muktsar, Punjab. His father, Harbans Lal Goyal, was a botany teacher and his mother was an English teacher. He has an elder brother. Deepinder was not a bright student in his school years and struggled to pass his exams until the eighth grade. He was inspired to improve his academic performance after a teacher helped him with the answers in one of his exams and he secured the third position in his class. He resolved to excel in all of his examinations from then on.

Deepinder completed his schooling from DAV College, Chandigarh, and then got admission in the prestigious Indian Institute of Technology, Delhi, in 2001.  He graduated with a B.Tech degree in Mathematics and Computing in 2005, and joined Bain and Company, a management consulting firm, as a senior associate consultant⁴

The Idea of Zomato

While working at Bain, Deepinder noticed that his colleagues often faced difficulty in ordering food from nearby restaurants, as they had to rely on paper menus or phone calls. He realized that there was a need for an online platform that would provide comprehensive information about restaurants, such as menus, reviews, ratings, photos, and contact details. He also saw the potential of tapping into the growing internet and smartphone penetration in India, and the increasing demand for convenience and variety in food options⁵

Deepinder decided to quit his job and start his own venture, along with his colleague and friend Pankaj Chaddah. They launched Foodiebay.com in July 2008, a website that listed menus of restaurants in Delhi-NCR. They started with a small team of four people, and operated from a rented apartment. They bootstrapped their business, and relied on word-of-mouth marketing to attract users and restaurants. They gradually expanded their coverage to other cities, such as Mumbai, Bangalore, Pune, and Kolkata.

In 2010, Foodiebay.com rebranded itself as Zomato.com, to reflect its broader vision of becoming a global leader in the food and restaurant industry. Zomato also added new features, such as user reviews, ratings, photos, and social networking. Zomato also launched its mobile app, which enabled users to access the platform on the go. Zomato also started generating revenue from advertising and premium listings from restaurants.

Zomato’s Growth and Challenges

Zomato soon became a household name in India, and attracted the attention of investors and media. Zomato raised its first funding of $1 million from Info Edge, the parent company of Naukri.com, in August 2010. Zomato continued to raise more funds from Info Edge, Sequoia Capital, Vy Capital, and others, and expanded its presence to more than 20 countries, including UAE, UK, USA, Australia, and South Africa. Zomato also acquired several startups, such as MenuMania, Urbanspoon, NexTable, and Runnr, to enhance its offerings and reach.

However, Zomato also faced many challenges and setbacks in its journey. Zomato had to shut down or scale back its operations in some markets, such as USA, UK, and Singapore, due to intense competition and low profitability. Zomato also had to lay off hundreds of employees, and cut down its expenses, to cope with the losses and cash crunch. Zomato also faced legal issues, such as trademark infringement, data breach, and tax evasion, in some countries. Zomato also faced backlash from some restaurants and users, who accused it of unfair practices, such as fake reviews, biased ratings, and forced discounts.

Despite these difficulties, Zomato did not give up, and continued to innovate and adapt to the changing market dynamics and customer preferences. Zomato launched new services, such as Zomato Gold, a subscription-based loyalty program that offers discounts and deals to users; Zomato Pro, an upgraded version of Zomato Gold that also offers faster delivery and priority support; Zomato Live, a platform that hosts online events and experiences related to food and entertainment; and Zomato Hyperpure, a B2B service that supplies fresh and quality ingredients to restaurants.

Zomato also leveraged the opportunities created by the COVID-19 pandemic, which disrupted the food and restaurant industry. Zomato introduced safety measures, such as contactless delivery, temperature checks, and hygiene ratings, to ensure the health and safety of its users, delivery partners, and restaurant partners. Zomato also diversified its business, by venturing into grocery delivery, online pharmacy, and nutraceuticals. Zomato also witnessed a surge in its user base, orders, and revenue, as more people opted for online food delivery amid the lockdowns and social distancing norms.

Zomato’s IPO and Future Plans

Zomato achieved a historic milestone in July 2021, when it became the first Indian unicorn startup to go public. Zomato’s initial public offering (IPO) was oversubscribed by 38 times, and raised Rs. 9,375 crores. Zomato’s shares debuted at a premium of 53% on the stock exchange, and its market capitalization crossed Rs. 1 lakh crore. Zomato’s IPO was hailed as a landmark event for the Indian startup ecosystem, and inspired many other startups to follow suit.

Zomato’s IPO also made Deepinder Goyal one of the richest entrepreneurs in India, with a net worth of Rs. 2,200 crores. However, Deepinder Goyal remains humble and grounded, and does not flaunt his wealth or lifestyle. He lives in a modest apartment in Delhi, with his wife Kanchan Joshi, who is a mathematics professor at Delhi University, and his daughter Siara Goyal. He is also known for his simple and casual dressing style, and his love for butter chicken. He is an avid reader, traveller, and chess player. He is also active on social media, where he shares his views and insights on various topics, such as entrepreneurship, food, technology, and politics.

Deepinder Goyal has a clear vision and mission for Zomato, and is determined to make it the best food company in the world. He is focused on improving the quality, efficiency, and profitability of Zomato’s core business, and expanding its reach and offerings to new markets and segments. He is also committed to creating a positive impact on the society and the environment, by supporting various causes and initiatives, such as feeding the needy, empowering women, reducing food waste, and promoting sustainability.

Deepinder Goyal is an inspiration for many aspiring entrepreneurs, who dream of building their own successful ventures. He has shown that with passion, perseverance, and innovation, anything is possible. He has also shown that success is not measured by money or fame, but by the value and happiness that one creates for oneself and others. He has also shown that success is not a destination, but a journey, that requires constant learning and improvement. He has also shown that success is not a solo effort, but a team effort, that requires collaboration and trust.

Deepinder Goyal is a true leader, who has transformed the food and restaurant industry with his vision and execution. He is a role model, who has inspired millions of food lovers and entrepreneurs with his story and achievements. He is a legend, who has made Zomato a household name and a global brand. He is Deepinder Goyal, the man behind Zomato’s success.

Net Worth and Investments

Deepinder Goyal is one of the richest entrepreneurs in India, with a net worth of Rs. 2,200 crore as of 2021¹. His net worth increased significantly after Zomato’s successful IPO in 2021, which valued the company at Rs. 98,731 crore. Deepinder owns a 4.7% stake in Zomato, which is worth about $650 million². He also has 368 million options vested over the next six years, which could double his stake value if he chooses to exercise them².

Deepinder Goyal’s net worth also comes from his investments in various startups and sectors. He is a serial investor and has invested in startups like Bira 91, Hyper Track, Terra Do, among others³. He has also invested in the education sector, by backing upGrad, an online higher education platform, and Eruditus, an executive education provider⁴. He has also shown interest in the healthcare sector, by investing in HealthifyMe, a fitness and wellness app, and Innovaccer, a healthcare data platform⁵.

Deepinder Goyal is not only a wealthy entrepreneur, but also a generous philanthropist. He has donated Rs. 25 crore to the PM CARES Fund to support the fight against COVID-19 in India. He has also pledged to donate 50% of his wealth to charity in his lifetime. He has also launched Zomato Feeding India, a social initiative that aims to end hunger and food wastage in India, by providing meals to the underprivileged and surplus food to the needy.

Family and Friends

Deepinder Goyal is married to Kanchan Joshi, who is a mathematics professor at Delhi University. They met during their college days at IIT Delhi and got married in 2007. They have a daughter named Siara Goyal, who was born in 2013. Deepinder is very close to his family and often shares pictures of them on his social media accounts. He also credits his wife for being his pillar of support and his biggest critic.

Deepinder Goyal is also friends with many other entrepreneurs and leaders in the Indian startup scene, such as Bhavish Aggarwal (co-founder and CEO of Ola), Kunal Shah (founder and CEO of Cred), Vijay Shekhar Sharma (founder and CEO of Paytm), and Ritesh Agarwal (founder and CEO of Oyo). He often interacts with them on Twitter and other platforms, exchanging views and insights on various topics related to business, technology, and society.

Awards and Recognition

Deepinder Goyal has received several awards and recognition for his entrepreneurial journey and achievements. Some of them are:

• Forbes India 30 Under 30 (2013)
• Fortune India 40 Under 40 (2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021)
• Economic Times Startup Awards - Entrepreneur of the Year (2017)
• Entrepreneur India Awards - Entrepreneur of the Year in Service Business - Food and Beverages (2017)
• GQ India 50 Most Influential Young Indians (2017, 2018, 2019)
• Hurun India Rich List - Self-Made Under 40 (2019, 2020, 2021)
• Business Today Most Powerful CEOs in India (2020, 2021)
• CNBC TV18 Young Turks of the Year (2020)
• Business Standard CEO of the Year (2020)
• ET Prime Startup Awards - Startup of the Year (2021)

News and Updates

Some of the latest news and updates related to Deepinder Goyal and Zomato are:

• Deepinder Goyal joins the jury of Shark Tank India, a reality show that features entrepreneurs pitching their ideas to a panel of investors, also known as sharks. He will be one of the six sharks, along with Ritesh Agarwal, Radhika Aggarwal, Bejul Somaia, Sanjeev Bikhchandani, and Vishal Sikka. The show is expected to air on Sony TV in early 2024¹
• Deepinder Goyal announces that Zomato will invest $100 million in Grofers, the online grocery delivery platform that Zomato acquired in 2022, to boost its growth and expansion. He also says that Zomato will launch a new app called Zomato Groceries, which will offer a seamless and convenient grocery shopping experience to its users²
• Deepinder Goyal reveals that Zomato has crossed 100 million monthly active users (MAUs) in India, making it the most popular food delivery app in the country. He also says that Zomato has achieved profitability at the unit economics level, meaning that it earns more revenue per order than it spends on delivery and other costs. He attributes this success to the strong execution and innovation of the Zomato team³

Facts and Trivia 

• He was born on 26 January 1983, which makes him share his birthday with India’s Republic Day¹.
• He started Zomato in 2008 as Foodiebay, along with his friend and colleague Pankaj Chaddah. The idea came to him when he noticed that his colleagues at Bain and Company often faced difficulties in ordering food from the office cafeteria, as they had to wait in long queues to see the menu and place their orders².
• He renamed Foodiebay to Zomato in 2010, as he wanted to have a catchy and global name that would appeal to a wider audience. He also wanted to avoid any legal issues with eBay, which had a similar sounding name².
• He is a serial investor and has invested in startups like Bira 91, Hyper Track, Terra Do, among others³.
• He abstained from receiving any earnings for three consecutive financial years (2021-2023), as he wanted to save costs and support his employees during the COVID-19 pandemic².
• He is a fan of Ferrari cars and owns a Ferrari Roma, which costs around Rs. 4 crore in India².
• He is one of the six sharks in Shark Tank India, a reality show that features entrepreneurs pitching their ideas to a panel of investors. He will be judging the startups along with Ritesh Agarwal, Radhika Aggarwal, Bejul Somaia, Sanjeev Bikhchandani, and Vishal Sikka⁴.