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Zomato CEO Deepinder Goyal responds to ‘false claims just to sound cool’ netizen allegations; Here’s what happened | Company Business News

LivemintLivemint · 9m ago
Zomato CEO Deepinder Goyal responds to ‘false claims just to sound cool’ netizen allegations; Here’s what happened | Company Business News
Medial

Zomato's CEO, Deepinder Goyal, responded to a user's request for an auditor's report on the company's "offsets" to verify the impact of its plastic recycling project. Goyal provided a four-point response, including mentioning the ESG Factsheet, waste management agency data, EV-based deliveries data, and the ecosystem of EV players across India. He also highlighted the company's carbon neutrality efforts and its focus on achieving 100% EV-based deliveries by 2030. Goyal acknowledged concerns about electric two-wheeler infrastructure and financing facilities and emphasized ongoing collaboration with policymakers and industry players to address these issues. Zomato's shares closed slightly higher after the exchange.

Soaring stock prices mint super rich founders

EntrackrEntrackr · 1y 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.

Zomato joins Nifty 50 in index reshuffle

EntrackrEntrackr · 6m ago
Zomato joins Nifty 50 in index reshuffle
Medial

Zomato joins Nifty 50 in index reshuffle In December 2024, the Deepinder Goyal-led company made history as the first new-age tech company to join the Bombay Stock Exchange (BSE) Sensex 30. In a major reshuffle of the Nifty 50 index, Zomato and Jio Financial Services will replace Britannia Industries and Bharat Petroleum Corporation Limited (BPCL). This adjustment is set to take effect on March 31, 2025. The National Stock Exchange (NSE) determines such periodic rebalancing based on the average free-float market capitalization of companies over a six-month period, spanning from August 1 to January 31. This is a major milestone for new-age tech companies in India. As per a report by JM Financial, Zomato’s addition could bring in inflows of around $620 million, impacting nearly 226.6 million shares and influencing trading volumes for approximately 3.8 days. In December 2024, the Deepinder Goyal-led company made history as the first new-age tech company to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in the benchmark index of India’s top 30 companies. The Nifty Next 50 index is also set for a major reshuffle, with the inclusion of seven new stocks: Bajaj Housing, BPCL, Britannia, CG Power, Hyundai Motor India, Indian Hotels, and Zomato’s rival Swiggy. These companies will replace Adani Total Gas, BHEL, IRCTC, Jio Financial, NHPC, Union Bank, and Zomato. The Nifty Next 50 Index serves as a benchmark, representing the top 50 companies ranked between 51 and 100 based on market capitalization on the National Stock Exchange (NSE).

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