Zomato founder and CEO, Deepinder Goyal, has resigned from the board of Urban Company. He took the decision as Blinkit -- a company owned by Zomato -- has decided to enter the home services category, which is the core business of Urban Company. Goyal was appointed as the independent director on the company's board in March, 2022.
Blinkit, the company bought by Zomato for $568 million, is already offering home chef services through a company called ChefKart. As of now, there has been no official statement from the company in this regard. Zomato, the company founded by Goyal, logged a loss of Rs 346.6 crore in the December 2022 quarter. However, despite the losses, Goyal thinks he can make Zomato a billion dollar plus company in the next 7-8 years. He recently said Zomato wants to continue to stay focussed on the long-term growth goals without worrying much about near-term growth pressures.
Who is Deepinder Goyal?
Deepinder Goyal started Zomato in 2008. He currently holds a 5.5 percent stake in the company. He diluted his shares from 7.7 percent in 2020 to 5.5 percent in 2022. Goyal was born in Punjab. His parents were teachers. He graduated from IIT Delhi in 2005 with a degree in Mathematics and Computing. He was working for Bain and Company in the national capital when he figured out that there was a demand for menu cards among his colleagues. He saw the chance and started his startup called Foodiebay in 2008, which was renamed Zomato in 2010.
He is married to Kanchan Joshi whom he met in college. She is an MSc in mathematics.
Zomato bought its IPO in 2021. Goyal's net worth had swelled to 650 million dollars at that time. However, as of September 30, 2022, his net worth was Rs 2030 crore.
Goyal also used to earn a hefty salary in 2020. He used to earn over Rs 3 crore per annum. The salary dropped to 1.96 crore in FY 21. He later said he won't accept salaries for the next three years. Zomato CTO Gunjan Patidar earns Rs 1.5 crore and CFO Akshant Goyal earns a salary package of Rs 3.2 crore. The company's food delivery CEO Rahul Ganjoo earns a salary package of Rs 2.9 crore.
In 2022, Goyal received shares worth Rs 387 crore as ESOP in 2022. He donated his ESOP proceeds worth Rs 700 crore to Zomato foundation that works for the benefits of the company's delivery partners.
Goyal is also a serial investor. He has so invested in startups like SquadStack, Bira 91, HyperTrack, TerraDo.
