DEEPINDER GOYAL

Co-founded Zomato (originally Foodiebay) in 2008 as a restaurant discovery and menu platform. Pivoted to food delivery.

Expanded to 23 countries before pulling back to focus on India. Raised over $2 billion in funding.

Took Zomato public on BSE/NSE in July 2021 — the IPO was 38x oversubscribed. Stock initially crashed 70% from IPO peak.

Then recovered and turned profitable in 2023. Acquired Blinkit (formerly Grofers) for $568 million in 2022 — a bet on quick commerce (10-minute grocery delivery).

Blinkit has grown to become a significant revenue driver. Zomato is now one of the most valuable tech companies in India with a market cap exceeding $13 billion.

Zomato (co-founder/CEO), Blinkit (acquired)

Goyal is an aggressive operator who bets big on India's consumer internet market. He is willing to burn cash to build market share, pivot business models when needed, and make bold acquisitions.

He pulled Zomato out of 23 international markets to focus entirely on India — a painful but ultimately correct decision. His investing style in his own company is high-conviction, long-horizon, and focused on market dominance over short-term profitability.

The Blinkit acquisition and Zomato's path to profitability. Everyone called the Blinkit deal a disaster in 2022.

By 2024, Blinkit was growing faster than food delivery and becoming a major revenue driver. The stock recovered from its post-IPO lows and Zomato became the second Indian internet company (after Info Edge) to achieve consistent profitability.

International expansion. Zomato expanded to 23 countries including the US, UK, and Australia — burning significant cash — before pulling back to focus exclusively on India.

The international adventure cost hundreds of millions and years of management attention that could have been spent dominating the domestic market earlier.

Goyal believes India is the biggest consumer opportunity in the world and that the companies willing to invest aggressively in infrastructure and market share now will dominate for decades. He favors speed over perfection, market share over margins in the early stages, and is willing to pivot business models when the data suggests a better path.

Married to Grecia Munoz, a Mexican model and entrepreneur. They married in 2018.

Has children. Known for being relatively private about family life despite being a public company CEO.

Bachelor's degree in Mathematics and Computing from IIT Delhi. Worked at Bain & Company as a management consultant before founding Zomato.

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