Riding high on the success of Zomato initial public offering, CEO Deepinder Goyal’s net worth has touched the $1 billion mark, as per Bloomberg Billionaires Index. Zomato market cap also surged to $14 billion approximately.
Deepinder Goyal is a Billionaire Now
Zomato CEO Deepinder Goyal has become the billionaire with the grand success of Zomato IPO. Now, Goyal is among 1% of Indians who have a net worth more than or equal to $1 billion. On 24 July 2021, Bloomberg Billionaires Index recorded Goyal’s wealth around $650 million with a 4.7% stake in an online food delivery giant. Now, his wealth has skyrocketed to $1 billion.
Zomato has created history by becoming the first technology-based Indian unicorn that made the grand market debut with its listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Though, Goyal is nowhere near to the likes of other billionaires such as Mukesh Ambani as well as other Indian billionaires, the startup billionaire community is very small. And, it is a big achievement considering the Indian startup ecosystem.
Goyal reached the $1 billion net worth mark due to the 66% stock jump of Zomato in its debut. Swiggy, the main rival of Zomato, is also planning to start its IPO in the coming years.
About Zomato Growth and Its IPO
Zomato IPO is the largest by an Indian startup to date. Zomato began its journey as a simple restaurant and food listing platform. And, later it became the online food delivery giant in India.
Zomato is one of the front-runners amidst the Indian internet unicorns in India to tap into local capital markets. The food delivery firm has touched the market cap of around $14 billion and its IPO was subscribed over 38.25 times against the 71.92 crore shares. Zomato fixed its share price band between Rs 72 and Rs 76.
Goyal and his colleague Pankaj Chaddah co-founded Zomato and started uploading neighbouring restaurants’ menus on its platform. Initially, it was not Zomato. It was known as Foodiebay.
In the beginning, the startup provided restaurant-related information without food delivery and received a $1 million investment from Info Edge that now has the highest stake in Zomato. With the latest investment in Grofers, Goyal plans to bring a grocery delivery feature on the Zomato app. Some experts believe that Zomato may acquire Grofers very soon.