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Zomato CEO Deepinder Goyal’s advice to Swiggy: ‘Competent people can’t recognise they are complacent, don’t…’

LivemintLivemint · 7m ago
Zomato CEO Deepinder Goyal’s advice to Swiggy: ‘Competent people can’t recognise they are complacent, don’t…’
Medial

Food delivery aggregator Swiggy recently had its successful IPO, making hundreds of its employees "crorepatis" with their holdings now worth crores of rupees. Zomato CEO Deepinder Goyal, offering perspective as his company went public earlier this year, warned about the unintended consequences of sudden wealth. Goyal highlighted the potential for complacency and a slowdown in innovation among employees who became financially secure. Despite this, Zomato's food delivery CEO, Rakesh Ranjan, expressed optimism about the industry's future, stating that increased competition, such as Swiggy's IPO, would foster innovation and overall growth.

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ETSA 2024 | Zomato’s top ranks needed a spring clean after IPO highs: cofounder and CEO Deepinder Goyal

Economic TimesEconomic Times · 9m ago
ETSA 2024 | Zomato’s top ranks needed a spring clean after IPO highs: cofounder and CEO Deepinder Goyal
Medial

- Zomato CEO Deepinder Goyal opened up about the company’s journey from a $7.6 billion listing to a $29 billion market cap. - Goyal shared that there was a period of complacency within the company after the IPO, and he had to remove individuals who had lost their drive and reboot the organization. - He revealed that his lowest lows as a founder occur when people he trusts don't show up, which feels more personal than business. - Zomato's most challenging moment was when rival Swiggy raised $1 billion while they only had $35 million in the bank. - The decision to enter the delivery and quick commerce businesses was driven by survival instinct, as these moves were necessary for the company's continued existence. - Goyal discussed the diversification of Zomato, including its spin-off app District for events and dining out, acknowledging that they face competition from established players such as BookMyShow.

Zomato halts Blinkit integration, shifts focus on building super brands

Inc42Inc42 · 1y ago
Zomato halts Blinkit integration, shifts focus on building super brands
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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