Zomato founder-CEO Deepinder Goyal joins billionaire club

Deepinder Goyal, the Founder & CEO of Zomato, has achieved billionaire status following an extraordinary surge in Zomato's shares, which have risen by over 300% since hitting a low in July 2023. The stock reached a record high of Rs230 on the BSE, propelling the company's market cap beyond Rs1.8 trillion. Goyal, now India’s wealthiest professional manager, boasts a net worth exceeding Rs8,300 crore, holding a 4.24% stake in the company with 36.95 crore shares.

This unprecedented growth is largely attributed to Zomato's Blinkit quick commerce business, which has outpaced competitors like Swiggy Instamart and Zepto. Anticipations of Blinkit reaching EBITDA break-even by Q1 of fiscal 2025 have further boosted investor confidence. The profitability of Zomato's food delivery segment has also contributed to this bullish sentiment.

Looking ahead, Zomato plans to escalate investments, particularly after Blinkit achieves profitability, aiming to surpass its food delivery business in gross order value sooner than initially projected. While achieving sustainable profitability for Blinkit may take time, Zomato remains committed to long-term growth and market leadership, supported by various strategic factors such as advertising revenue, operational efficiencies, and corporate leverage.

Analysts predict that Zomato's focus on growth investments over immediate profitability expansion will solidify its position in the market and drive long-term success.