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Deepinder Goyal enters billionaire club as his holding in Zomato crosses $1 Bn worth

EntrackrEntrackr · 11m ago
Deepinder Goyal enters billionaire club as his holding in Zomato crosses $1 Bn worth
Medial

Deepinder Goyal, founder and CEO of Zomato, has entered the billionaire dollar club as the value of his holdings in the foodtech firm surpassed Rs 8,400 crore. With this, Goyal joins the ranks of Sachin and Binny Bansal, Nikhil and Nitin Kamath, Vijay Shekhar Sharma, Byju’s Reveendran, and Ritesh Agarwal who hit a similar high at some point with their startups’ growth and valuation. As of March 31, 2024, Goyal owned a 4.19% stake in Zomato and had 36,94,71,500 shares. Since the Info Edge-backed firm recently hit its all time high share price ~Rs 232, the value of his personal holding crossed $1 billion. Zomato currently has a market capitalization of Rs 2,01,343 crore or $24.25 billion (as of 11.27 AM IST on July 15). With 36,94,71,500 equity shares, Deepinder Goyal’s holdings are valued at Rs 8,423 crore ($1.01 billion), as per Entrackr’s estimate. Food tech major also received shareholder approval to implement a new ESOP plan 2024 valued at $458 million. With the implementation of its new ESOP plan, the company’s total ESOP value surpassed $800 million. After Flipkart, Zomato seems to have the largest ESOP pool at the moment in the startup arena. In 2021, Oyo’s ESOP pool was worth close to $1 billion followed by Paytm, Nykaa and Policybazaar. However, value of Oyo and Paytm’s ESOP pool has nosedived since then in the wake of colossal loss in their valuations. While the holdings of bootstrapped startup’s founders such as Kamath brothers and Sridhar Vembu fortune are estimated to exceed $1 billion, Goyal has turned out to be the new entrant in the billionaire club from the VC-backed ecosystem. The good times for Zomato have continued on the stock exchange despite the company increasing its platform fees to Rs 6 in Delhi and Bengaluru. The company introduced a platform fee of Rs 2 in August last year, which was increased to Rs 5 in April, and now stands at Rs 6 per order as the firm looks to improve margin. Swiggy also spiked its platform fee to Rs 6 in the two cities. Zomato showed a robust growth in the last fiscal year (FY24) as its revenue from operations surged 71% year-on-year to Rs 12,114 crore in FY24 from Rs 7,079 crore in FY22. Moreover, the profits of the company stood at Rs 351 crore in FY24 as compared to a loss of Rs 971 crore in FY23.

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Deepinder Goyal to enter health and mental fitness space with ‘Continue’

EntrackrEntrackr · 8m ago
Deepinder Goyal to enter health and mental fitness space with ‘Continue’
Medial

Zomato co-founder and chief executive officer Deepinder Goyal has incorporated a new venture named Continue, which will focus on health tracking and mental wellness. However, the new venture is purely personal, with no Zomato involvement. Launched in April 2024 under the legal name Upslove Advisors Private Limited, the company’s shareholders—Deepinder Goyal (holding 99.9%) and Ashish Gotal (holding 0.1%)—contributed an initial capital of Rs 50 lakhs, as per a regulatory filing accessed from the Registrar of Companies (RoC) The domain Continue.com, marketed as “The Ultimate Health Tracker,” currently provides no additional details. The domain was registered under the new entity Upslove Advisors Private Limited. According to the RoC, Deepinder Goyal being the active director while Simrandeep Singh and Akriti Mehta have been appointed as additional directors of Upslove Advisors Private Limited. Based on their LinkedIn profiles, both Singh and Mehta have been with Zomato for the past 5 and 7 years, respectively. The new venture, Continue, is set to compete with Ultrahuman and Mindhouse, founded by former Zomato COO Mohit Kumar and co-founder Pankaj Chaddah, respectively. Notably, Goyal pumped in $10 million in Ultrahuman’s Series B funding. Zomato has shown a strong interest in the health and fitness segment, having previously acquired Fitso, which it later sold to Tata Digital-owned Curefit. With the launch of Continue (health), Deepinder Goyal now has his foot in several sectors, including food delivery (Zomato), quick commerce (BlinkIt), entertainment and ticketing (District), and B2B supplies (HyperPure). In July, Goyal entered the billionaire dollar club as the value of his holdings in Zomato surpassed Rs 8,400 crore ($1 billion). The move into new ventures might be surprising to some, as Zomato is hardly in cruise control mode as a business, despite moving into profits. The business remains volatile, with many issues that need addressing, besides sustaining profitability. Add to that the continuous parade of ‘co-founder’ exits, and one would imagine Goyal would have given a lot of thought to the move into a new personal project. The collegiate environment that has been projected at Zomato however fits in well with the move, with the firm showing a willingness to back ex-employees with ideas. One assumes Goyal has a plan to dilute his holdings in favour of relevant people who make an impact at Continue like the other ventures he has backed, without distracting him from his main job of running Zomato, as investors in the latter will also be hoping.

Soaring stock prices mint super rich founders

EntrackrEntrackr · 11m ago
Soaring stock prices mint super rich founders
Medial

The rise in the market cap of Zomato, Policybazaar, MamaEarth, EaseMyTrip, TBO, and Ixigo has laid out a promising future for Indian startups aspiring to go public. This phenomenon has also helped create fortunes for shareholders, retail investors, and founders alike. Most recently, Zomato co-founder Deepinder Goyal checked into the billionaire club with his food tech company crossing the market cap of Rs 2,00,000 crore or $24 billion. Entrackr in collaboration with startup data intelligence platform TheKredible dives deeper into the holdings of startup founders, and their respective (current) worth. We are focusing on founders who have taken their startups public in India. At the top are Nykaa’s Falguni Nayar and her family (including trusts) as they command over 50% of the company. The collective worth of their holding is over $3.25 billion. Veteran entrepreneur and investor Sanjeev Bikhchandani comes next with his shares (via Info Edge) reaching $3.24 billion. Info Edge is an early investor in Zomato and Policybazaar, ShopKirana, Sploot, and Skylark Drones. ALSO READ: No hurry to sell, indefinite horizon on Zomato holding: Sanjeev Bikhchandani Zomato’s founder and CEO, Deepinder Goyal, joined the billionaire club as the value of his stock ownership surpassed $1 billion. Rashmi and Rakesh Verma, founders of MapMyIndia, have holdings valued at $830 million followed by Mamaearth duo Varun and Ghazal Alagh at $657 million. Despite the bumpy ride after its public offering and recent regulatory jolts, Paytm’s Vijay Shekhar Sharma currently holds stocks worth $319 million, while PolicyBazaar’s Alok Bansal’s holding is valued at $129 million. Ixigo, recently listed and now a unicorn, has seen its founders Aloke Bajpai and Rajnish Kumar create a combined value of $81.5 million. While net worth numbers based on the public value of holdings in their own firms is one figure, it’s important to note that almost all the founders mentioned here and many who are yet to go public, their personal net worth is well beyond just the value of their stake in their own firm. Liberalization has been particularly generous when it comes to founder compensations and options in the past decade, which has allowed many professionals and non-founders also to benefit. We have also observed the phenomenon of loss making startup founders investing in a parallel portfolio of other startups, many of which have delivered handsome returns as well. In a market awash with liquidity driven asset prices, one can only hope that the new status as acknowledged multi millionaires or billionaires doesn’t lead to the kind of visible excesses that can turn public opinion in the wrong direction. ‘Self made’ startup founders have an obligation to give back, be seen as giving back, and most importantly perhaps, set an example in how they do it better.

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