Business Growth

After the launch of Foodiebay.com, a new era had begun for them, and based on the basic reason
for starting, neither of them had any idea what this would turn out to be.

They were obliged to add more

restaurants to the list by the end of the
year, and even went on to expand to
places like Kolkata and Mumbai,
followed by Bangalore and Pune in
2009 and 2010, respectively, due to the
fast surge in popularity within the State.

We all know that nothing worthwhile

comes easily, and the same can be said
for foodiebay.com. Soon after, Deepinder enlisted the support of another IIT alumnus, Gunjan
Patidar, with whom they were acquainted, to assist them with their endeavor.

Deepinder used to work from home 24 hours a day, seven days a week, and struggled to explain
his time between his day job and this. Furthermore, because the concept was novel and they were
unknown to the general public, they found it extremely difficult to obtain information about
restaurants or other eateries.

However, they managed to run the website for the first two years without any funding or
professional crew. Later on, however, the requirement for a sufficient number of finances as well
as skills became critical.

That's when fate intervened and sent an angel to assist them. In August 2011, they were able to
contact Info Edge (India), the parent business of the Naukri.com group, who made the company's
first-ever investment of $1 million.

This boosted the morale and confidence of our Super Heroes, and in November they changed the
name from Foodiebay.com to Zomato.com, keeping in mind their future aspirations to expand
beyond the food genre, as well as to prevent a potential issue with eBay because their name
included the word "eBay."

1
That's when Deepinder and Pankaj decided to leave their positions at Bain & Company and
devote all of their attention to Zomato. Deepinder's parents were taken aback by this, and they
verbally abused him over it till Zomato failed.

Anyway, as demand from all over the world grew, it was time for Zomato to expand their reach
and resources. That's when the company decided to implement a revenue model and capitalise on
the favourable market conditions. This was also an effort to lessen reliance on outside funding.

The following are some of the income models that were implemented shortly after: –

 Restaurant advertising: This revenue stream

provides for about 75% of total revenue, and it
involves placing ads for customer restaurants.

 Event advertising: They make money

promoting events on Zomato for restaurant-
based marketers, which accounts for 5% of
their revenue.

 Sales of event tickets: They take commissions on tickets sold through Zomato, which
accounts for 15% of Zomato's earnings.

 Restaurant chains need consulting services to help them decide where to open their next
location or branch. They do the same study and charge consultancy fees for the results.

 Later, the company released mobile apps for iOS, Android, Windows Phone, and
BlackBerry devices, as well as expanding to cities like as Chennai, Hyderabad, and
Ahmedabad.

 In the following few months, Zomato collaborated with Citibank to develop a print
version of the website's material called "Citibank Zomato Restaurant Guide," and then
made their largest step since their inception: Zomato began a wide-spread growth
worldwide!

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Entrepreneurial journey

Deepinder was a management consultant at Bain &

Company in New Delhi. He realized that menu cards were
in high demand among his coworkers while working at this
organization. That is where the concept for Zomato arose.
Soon after, he left his job at Bain & Company to pursue his
entrepreneurial dreams, founding Foodibay in 2008, which
was eventually renamed Zomato in 2010.

Deepinder Goyal recognizes that having a backup plan is

always a good idea when it comes to surviving as an
entrepreneur. Since 2015, Goyal has been investing in
startups. He has made investments in startups such as Squad
Stack, Bira 91, Hyper Track, TerraDo, and others. In August
of this year, Deependra Goyal invested $1.4 million in
Terra.do. 

Zomato's Net Worth: In 2018, Ant Financial, Alibaba's payment unit, invested 210 million
dollars in Zomato in exchange for a 10% ownership position in the company. Zomato is expected
to be worth $2 billion as a result of this investment.

Zomato Limited went public in July 2021, with IPO dates ranging from July 14 to July 16.
Zomato rose $1.1 billion from the public through the IPO. Senior employee Akriti Chopra, who
has worked with Zomato for decades, was promoted to co-founder of the firm ahead of the IPO.
Deepinder Goyal has a personal net worth of Rs.2200 crores.

On April 21, 2021, Goyal and thousands of his Zomato restaurant partners announced the launch
of a “priority delivery for covid emergencies” option on the Zomato app. Customers of Zomato
can use this function to add notes to their orders. This order is for a COVID-19 emergency
option that was selected at checkout.

3
Skills and traits of Deepinder Goyal

As previously stated, having a business entails a great deal of responsibility. It also demands a lot
of effort, devotion, and perseverance. If you want to be a great entrepreneur, you'll need the
correct mindset as well as a mix of behavioural, social, and cognitive abilities. When we look at
a list of successful entrepreneurs from around the world, we wonder if they are born or made.
There are certain characteristics of an entrepreneur that are universal to all, regardless matter
whether a person is born with such traits or develops them over time.

Clear
Visio
n
Passionate

Self-Motivated

How to sell

Innovative

Result driven

Let's take a closer look of Deepinder Goyal’s skills and characteristics that an entrepreneur must
possess in order to be successful in their endeavours:

Qualities of Deepinder Goyal 

Although there is no such thing as a "ideal" entrepreneur, Deepindra believe that certain

attributes and traits of an entrepreneur are essential for business growth and profitability and we
can see that qualities in Deepinder's behaviour. 

4
Deepinder had a clear vision 

Entrepreneurs have huge dreams; they envisage a different world. They have a clear idea of what
they want to do and what possibilities they need to seek in order to succeed. A clear vision offers
them direction and makes it easier for them to stay focused.

Passionate about change 

He is passionate for making one-of-a-kind contributions to society by resolving recurring

problems. He is not self-oriented and not only make money, but also make a beneficial
difference by filling in gaps.

Self - Motivated

He had faith in his ideas, abilities, and himself.   He asked the correct questions, came up with
creative solutions, and plan for obstacles along the way. He was   self-motivated and know how
to take charge.

He knew How to sell

Selling is the most important aspect of business, because without sales, a company cannot take
off and generate a profit. He was the one   not just creative thinker, but also successful
businesspeople who know how to persuade others to believe in their product or service.

Innovative

Every entrepreneur's tale begins with a concept. If Deepinder is to succeed, he   thinks beyond
the box and bring new viewpoints to the table. One of the characteristics of a successful
entrepreneur is their commitment to result and that Deepinder has.  He developed concepts and
translate them into actionable steps. At the end of the day, He got the job done.

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References
Deepinder Goyal;Founder of Asia’s Largest Restaurant Guide. (2015, September 03). Retrieved from
Yosuccess.com: https://www.yosuccess.com/success-stories/deepinder-goyal-zomato/

Kashyaap, S. (2019, October 5). Retrieved from Zomato’s Deepinder Goyal lists down the 16
quintessential values that every founder should have: https://yourstory.com/2019/10/ys-
exclusive-zomato-deepinder-goyal-lists-down-qualities-founders/amp

Kaur, R. (2021, july 10). Deepinder Goyal. Retrieved from arealnews.com:

https://arealnews.com/deepinder-goyal/