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News on Medial
Zomato’s Deepinder Goyal-backed platform wants to become content-to-commerce solution for sneakerheads in India
YourStory
·
1y ago
Medial
Mainstreet Marketplace, a multi-brand sneaker resale platform, is capitalizing on the rising popularity of sneakers as cultural symbols in India. Founded by Vedant Lamba, the platform offers a curated selection of sneakers, streetwear, and luxury apparel. Recognizing gaps in the Indian luxury apparel industry, Mainstreet aims to cater to the demand of affluent consumers and celebrities. With a monthly revenue of Rs 5 crore ($670,000), the startup recently raised $2 million in seed funding. The Indian sneakers market was valued at $2.46 billion in 2022 and is projected to grow by about 9% annually.
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Zomato CEO Deepinder Goyal turns billionaire amid record share rally
YourStory
·
1y ago
Medial
Zomato CEO Deepinder Goyal has become a billionaire as the company's shares surged 4.75% to reach an all-time high of Rs 232 on the BSE. Goyal owns a 4.1% stake in Zomato. The food delivery platform recently raised its platform fee by 20% to Rs 6 per order to support expansion and improve profits. Zomato ended FY24 with a 71% YoY growth in revenue and a net profit of Rs 351 crore. Its quick commerce arm, Blinkit, has also become adjusted EBITDA-positive.
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Startup Mahakumbh | Blinkit will be bigger than Zomato in a year: Deepinder Goyal
Economic Times
·
1y ago
Medial
Zomato CEO Deepinder Goyal predicts that the company's quick-commerce platform, Blinkit, will surpass its food-delivery business within a year. Speaking at the Startup Mahakumbh event, Goyal discussed Zomato's plans to expand Blinkit into the e-commerce sector, including categories such as electronics, fashion, and home appliances. He also noted the challenges of creating a long-lasting company in today's rapidly evolving technological landscape. Over 40 unicorn startups, including Lenskart, Dream11, and Oyo, are expected to attend the event.
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Zomato CEO Deepinder Goyal urges established businesses to fund startups without seeking ownership
Money Control
·
1y ago
Medial
Zomato's CEO, Deepinder Goyal, has encouraged established businesses to fund startups to help them grow without the intention of owning them. He made the statement during the announcement of the Startup Mahakumbh event. Union minister Piyush Goyal also spoke at the event, praising startups as the backbone of a "New India." He urged entrepreneurs to seize opportunities as India aims to become a $32-trillion economy by 2047. The event featured participation from various stakeholders in the startup ecosystem.
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Zomato surges past DMart in market value on Blinkit-fueled share rally
Livemint
·
17d ago
Medial
Zomato's market value has surpassed that of DMart, driven by a share rally fueled by its quick-commerce unit Blinkit. Founded by Deepinder Goyal in 2008, Zomato evolved from a food delivery startup to a broader consumer tech platform. It now includes quick commerce and services such as dining-out experiences through District and 10-minute food delivery via Bistro. This milestone reflects growing investor confidence in India’s digital consumption landscape.
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Ultrahuman Raises $35 Mn To Boost Research In Health Monitoring
Inc42
·
1y ago
Medial
Bengaluru-based fitness and healthtech platform, Ultrahuman, has raised $35 million in a mix of debt and equity funding in a Series B round. The funding round included participation from investors such as Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave, and Zomato founder Deepinder Goyal. Ultrahuman plans to use the funds to expand its manufacturing capacity and conduct further research in the health tracking space. The startup offers health tracking and monitoring devices, including fitness rings, and aims to become the market leader in the smart rings space. Ultrahuman also provides a subscription-based fitness platform for better data monitoring and offers a range of workout content.
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Zomato sets up wellness facility at Gurugram HQ for employees, families
Economic Times
·
6m ago
Medial
Zomato has established a wellness center at its Gurugram headquarters, offering employees and their families access to therapies like cryotherapy and red light therapy. CEO Deepinder Goyal highlighted the company's commitment to wellness through in-house mental health support, a company-owned gym, and a Chief Fitness Officer, Anmol Gupta. The center, used by over 200 people regularly, is part of Zomato’s broader initiative, including period and gender-neutral parental leave policies, enhancing employee well-being.
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Blinkit could be bigger than Zomato in one year: Co-Founder Deepinder Goyal
Thehindubusinessline
·
1y ago
Medial
During the Startup Mahakumbh event, Blinkit CEO Deepinder Goyal discussed the potential of the quick-commerce platform, stating that it has the capacity to surpass Zomato, its parent company's food delivery business, within a year. He emphasized the importance of disrupting one's own businesses to stay ahead and revealed that Zomato is currently operating as its fourth version. Goyal also stressed the need for innovation and building a strong company culture, while also acknowledging the benefits of competition in driving growth. He advised start-up founders to align their spending with the potential returns.
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Zomato behind BookMyShow in ticketing business, hope Swiggy doesn't buy it: Deepinder
Inshorts
·
10m ago
Medial
Zomato CEO Deepinder Goyal said the startup is behind BookMyShow in the ticketing business and will, at some point, "gun to be number one". Speaking to Moneycontrol, Goyal said he hopes that "Swiggy doesn't buy BookMyShow". Zomato and Swiggy are rivals in both food delivery and quick e-commerce spaces, with Zomato gaining a lead over Swiggy in recent years.
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Zomato halts Blinkit integration, shifts focus on building super brands
Inc42
·
1y ago
Medial
Foodtech giant Zomato has decided to pause the integration of its quick commerce arm Blinkit and instead focus on building "super brands." Zomato CEO Deepinder Goyal expressed that super apps have not been as successful in India as they have been in China and that Indians gravitate towards super brands. Zomato plans to maintain a separate identity for its food delivery platform and quick-commerce unit, developing Blinkit as an independent brand. The integration will primarily focus on sourcing synergies with Zomato's B2B supplies vertical, Hyperpure. Zomato's rival Swiggy has opted to integrate its quick commerce vertical, Instamart, directly into its main app. Blinkit turned contribution positive in Q2 FY24, recording 45.5 million orders during this period.
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Zomato's Deepinder Goyal wants to work with AI wizards
YourStory
·
6m ago
Medial
Zomato's CEO, Deepinder Goyal, seeks collaboration with leaders who utilize AI as their "second brain." In a post on X, he invited such individuals to contact him. Previously, similar outreach garnered significant interest, such as a chief of staff position that initially offered no salary but required a donation to the company's initiative. Unlike Swiggy, which integrates AI to enhance restaurant menus, Zomato implements a distinct AI strategy, banning AI-generated images in promotional materials.
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