Deepinder Goyal Success Story: Zomato Founder’s Journey & Life Behind the Brand

With his Food Delivery App, Zomato Guy Deepinder Goyal has completely transformed the food sector. With just a few clicks, Zomato can handle both urgent home deliveries and late-night desires. Despite this, Zomato is another brand that dominates the Indian food sector, which has enormous potential. Zomato offers a comprehensive resource for restaurants, including menus, reviews, and nearly any other information pertaining to the establishment. Pankaj Chhada and Deepinder Goyal founded it. Let’s take a closer look at Mr. Deepinder Goyal’s success story.

Deepinder Goyal Early Life and Education

Deepinder Goyal was born in Punjab, India, on January 10, 1983. His upbringing in the middle class will have a big influence on his future pursuits. His father, who was a teacher by trade, taught him to value education and hard work. The foundation for Goyal’s later accomplishments was laid by this home setting, which was marked by a strong emphasis on education and ambition.

Goyal’s scholastic path sent him to the esteemed Indian Institute of Technology (IIT) in Delhi, where he studied computer science and mathematics for his degree. Goyal actively participated in a number of technology initiatives while he was a student at IIT Delhi, demonstrating early signs of his entrepreneurial drive. During this time, he developed the creative thinking and problem-solving abilities that would eventually characterize his career.

After graduating from college in 2005, Goyal started working for the well-known international management consulting firm Bain & Company. His business acumen was further refined by this experience, which gave him important insights into corporate strategy and operations.

Goyal’s early years, including his childhood and schooling, were crucial in molding the visionary leader who would go on to establish Zomato, one of the most well-known meal delivery services in India.

Career Beginnings

• Started his career at Bain & Company as a management consultant.
• Simultaneously, he began working on his startup idea, initially named ‘Foodiebay’, which later evolved into Zomato.
• During his tenure at Bain, he gained valuable experience in business strategies, operational management, and market dynamics.

While attending IIT Delhi, he met Kanchan Joshi, whom he later married. The two would meet in the labs when Goyal’s wife, Joshi, was pursuing her master’s degree in mathematics. Siara is the name of their joint kid. After divorcing his wife, Deepinder Goyal remarried Mexican model Grecia Munoz.

Buzz about Mr. Goyal’s marriage began when he posted a cozy photo of himself and Ms. Munoz on Instagram. He had previously uploaded an Instagram story with two more heart emojis after Ms. Munoz had tagged him in it. A few months ago, Mr. Goyal and Ms. Munoz got married, and in February, they returned from their honeymoon.

At first, ordering food from home wasn’t simple. Online food ordering required selecting from a variety of eateries without knowing the ratings or reviews. There were very few deals and discounts available for eating and food delivery.

In January 2006, Deepinder began working with Bain and Company as a Senior Associate Consultant following his graduation from IIT Delhi. He established FoodieBay.com, which subsequently evolved into Zomato.com, when he was employed at Bain. His breakthrough idea was FoodieBay.com. To place an order at Bain and Company, one had to wait in a long line. To cut down on the time they spent placing food orders, Deepinder and Pankaj, his coworker at Bain, devised a clever approach.

The two then made the decision to use the company intranet to develop a website for Bain workers to purchase food. They were shocked to see how popular the website was and how many people visited it. The creators of Zomato recognized a chance to transform the food technology sector.

A new era began with Deepinder’s idea. He and his associates had no clue that their concept would become one of the most well-known food aggregation businesses.

They were compelled to add more eateries to the list following their experiment and the feedback they received. Megacities like Kolkata and Mumbai have adopted FoodieBay.com before the year’s end. Their startup began providing services to clients in Bangalore and Pune in 2010.

According to Moneycontrol, Deepinder Goyal just become a member of India’s billionaire club as Zomato’s stock increased by more than 300 percent since the previous year, hitting a market valuation of INR 1.8 lakh crore. With a net worth of more than INR 8,300 crore, Goyal is now the richest professional manager in India at the age of 41.

His family’s reluctance to let him quit his secure position at the company and embrace the startup lifestyle was Deepinder’s first obstacle. Kanchan Joshi, Deepinder’s wife, whom he met at IIT, was initially hesitant but eventually fully supported his new way of life. The proprietor of Zomato recruited Gunjan Patidar, another IITian, to help the company with operations after launching the startup in major cities. Since the idea was novel and unheard of at the time, he had a busy time managing FoodieBay.com, and challenges were unavoidable. To turn his diligence into success, he had to overcome several obstacles in the business world.

The website operated smoothly for the first two years, but as more and more pubs and restaurants were added to Zomato’s coverage, scaling became challenging. Their declining financial resources and difficulties obtaining finance also made it a challenging period for them.

Info Edge helped the Zomato crew while they were in dire need of money. When Zomato creator Deepinder Goyal and his colleagues renamed FoodieBay.com to Zomato.com in August 2011, Info Edge invested $1 million in the startup. Deepinder and Pankaj left their positions at Bain and Company to focus entirely on the expansion of Zomato after receiving the money, which boosted their spirits.

Zomato’s fortunes changed as the meal delivery and ordering craze swept through India. They have received money from a number of investors since its 2011 founding, and in 2018, they became a unicorn. At a post-money valuation of $3.9 billion, they closed a $660 million primary funding round at the end of 2020.

As the technology industry advanced quickly, Zomato changed its strategy and released apps for Windows, iOS, and Android. Growing popularity paved the path for growth in places like Ahmedabad, Hyderabad, and Chennai.

Following its growth, Zomato and Citibank partnered to create the “Citibank Zomato Restaurant Guide.”

The business is now listed on a stock exchange. The shares went public on the BSE and NSE on July 23, 2021. The price range for each share at its IPO was INR 72 to INR 76. As of April 2025, Zomato’s market value stands at $29.94 billion. Based on market valuation, it is the 817th most valuable corporation in the world.

The company expanded its operations in nations like Dubai, the United Arab Emirates, Sri Lanka, Qatar, the United Kingdom, South Africa, the Philippines, and New Zealand under the direction of Zomato CEO Deepinder.

Zomato Media Pvt. Ltd. reported revenues of INR 2.04 crores in FY 2011-2012, which skyrocketed to INR 11.38 crores in FY 2012-2013.

Around 2.5 million people visited Zomato’s website in March 2012. By 2014, this had grown enormously to 62.5 million. Their earnings also skyrocketed, reaching INR 96.7 crore in 2015 from INR 30.06 crore in 2012. With its gross revenue of INR 7,079 crores in FY23, Zomato’s growth rate was 68.9%.

In Q3 FY25, Zomato posted a revenue of INR 5,405 crore, marking a 64.4% increase from the previous year. However, its profit declined by 57% year-on-year to INR 59 crore due to rising expenses. 

Zomato celebrated its 16th anniversary on July 10, 2024, which was a major turning point in the company’s history. The company’s 2021 startup of the year award further highlighted its incredible journey from humble beginnings to a multinational food delivery conglomerate, highlighting Deepinder Goyal’s visionary leadership and tenacity.

Aspiring entrepreneurs might find inspiration in the stories of Zomato’s metamorphosis from a struggling startup to a disruptive force in the food delivery industry and Deepinder Goyal’s journey from a middle-class upbringing to founding a unicorn firm.

Zomato’s co-founder and CEO Deepinder Goyal’s net worth is Rs Rs 8,300 crore. Deepinder Goyal holds a 4.24% stake in Zomato. He has invested in various other start-ups including Bira 91, HyperTrack, ShipRocket, and SquadStrack.

Personal Accolades:

2011: Recipient of the ET Startup of the Year Award (India)

2012: Honored with the Business Today Young Business Leader Award (India)

2018: Conferred the Distinguished Alumni Award by IIT Delhi (India)

2019: Recipient of the GQ Men of the Year Award (India)

2020: Featured in Fortune India’s 40 Under 40 List

2024: Appointed as a judge on Shark Tank India Season 3

Zomato’s Corporate Milestones:

2008: Established as FoodieBay, subsequently rebranded as Zomato

2011: Launched online food ordering platform

2014: Initiated international expansion, commencing with the UAE

2015: Acquired Runner, a food delivery startup

2017: Achieved unicorn status, becoming India’s first startup valued over $1 billion

2019: Diversified into grocery delivery services

2021: Successfully completed Initial Public Offering (IPO) on the Indian stock exchange

2023: Expanded operations to 23 countries globally

The below mentioned are the few list of investments which Deepinder Goyal did besides Zomato

During Shark Tank India season three, Deepinder Goyal was one of the new sharks. At 40, he started to inspire new people and decided to share his skills with prospective business owners. He joined the panel alongside returning sharks Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh, and Peyush Bansal, as well as OYO Rooms founder and CEO Ritesh Agarwal and Inshorts co-founder and CEO Azhar Iqubal.

In Shark Tank India season three, the founder of Zomato made investments in distinctive and scalable businesses. Businesses that were upending the status quo and had the potential to significantly impact people’s lives piqued his curiosity. In fact, Goyal’s inclusion on the shark panel was more fascinating and educational.

According to sources, Swiggy, a rival of Zomato and a food delivery service, is nearing an agreement to sponsor Shark Tank India season 4. Zomato CEO Deepinder Goyal claims that Swiggy has asked him to withdraw from investing again. This ruling demonstrates how fiercely the two meal delivery services are competing with one another.

As of 2025, Forbes estimates Deepinder Goyal’s net worth to be around Rs. 140 crore, or $1.4 billion. In 2008, he was one of the founders of Zomato. Zomato swiftly rose to prominence and was named the company of the year in 2021. Many clients now choose the site for finding restaurants and ordering food instantly.

Deepinder Goyal, the CEO and co-founder of Zomato, launched “Continue,” a new health and wellness firm, on October 21, 2024. This project focuses on mental wellbeing and health tracking. Not much information is now available because Continue.com is still in “stealth mode,” which is a covert phase. On April 20, the business, known as Upslope Advisors Pvt Ltd, was registered. According to data from the Ministry of Corporate Affairs, Simrandeep Singh and Akriti Mehta, two Zomato employees, are designated as Additional Directors, while Deepinder Goyal is a Director. This is now Deepinder Goyal’s personal endeavor.

By providing examples for his colleagues, Deepinder has demonstrated how to expand a firm. Working twenty-four hours a day is never easy, particularly when parents are pressuring you to quit a stable career. Customer satisfaction is demonstrated by the numerous prizes Zomato has won under his direction, the majority of which were user-chosen. Zomato’s founder, Deepinder Goyal, was awarded the Economic Times Startup of the Year award at the age of 31. It’s not easy to go from the darkest points of anguish and despair to transforming a whole sector. Deepinder Goyal has accomplished that. Since Deepinder has carried his business to unprecedented heights, millennials cannot picture their lives without Zomato!