9 hours Ago
Food delivery giant Zomato ’s chief executive Deepinder Goyal said that after the company’s initial public offering ( IPO ) in 2021, he had to fire a lot of senior executives as they became ‘complacent’. “The IPO was good and the business was doing what it was doing, and a lot of people made a lot of money for the first time in their lives, and these are competent people,” Goyal said at the Economic Times Startup Awards 2024. He also added, “There was no work happening inside the organisation for a while.
” On being asked about the situation now, Goyal said, “I think we are a high trust team now.” After going public, Zomato ’s shares initially underperformed, which affected its market capitalisation . This was further exacerbated by global market instability.
However, things have changed for the better now, with Zomato now becoming a favourite stock with investors. According to the BSE, Zomato’s stock has yielded 121% returns year-to-date (YTD). Goyal also spoke about Zomato’s relatively late entry into the rapidly growing quick commerce sector, expressing his surprise at the sector’s exponential expansion.
"I didn't think it would grow so much," he added. Marketing Digital Marketing Masterclass by Neil Patel By - Neil Patel, Co-Founder and Author at Neil Patel Digital Digital Marketing Guru View Program Marketing Future of Marketing & Branding Masterclass By - Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding Consultant View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Best-selling author View Program Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Legal Drafting Commercial Contracts and Dispute Resolution By - Shafaq Uraizee Sapre, Managing Partner: Mumbai, Chandhiok and Mahajan View Program Technology Cybersecurity Masterclass By - Gaurav Khera, Partner, Risk Advisory: Deloitte View Program Legal Mastering M&A Deal Making By - Ashwath Rau, Senior Partner- AZB & Partners View Program Legal Data Privacy with General Data Protection Regulation (GDPR) By - Arun S.
Prabhu, Partner (Head- Technology and Telecommunications): Cyril Amarchand Mangaldas View Program Finance Corporate Fraud and Forensic Modelling By - Ankush Lamba, Managing Director- Ankura View Program Finance A2Z Of Finance: Finance Beginner Course By - elearnmarkets, Financial Education by StockEdge View Program Artificial Intelligence(AI) Basics of Generative AI : Unveiling Tomorrow's Innovations By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of domain experience, trainer View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Office Productivity Advanced Excel Course - Financial Calculations & Excel Made Easy By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program On the regulatory scrutiny, the Zomato CEO said that quick commerce is not eating into the market share of kiranas .
"Blinkit is not even affecting companies like Dmart. We are more or less eating into the share of ecommerce players like Amazon and Flipkart, as well as modern retail," he added. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories.
