Food is the motive force for everyone over the globe. Obviously, we all earn for food and to taste different variety of available cuisines. Advancement in technology has made way for the formation of many improvements. It is no less to reference that food delivery application development brought to us by Deepinder Goyal as the name of Zomato.
In this excessively elaborate framework, it has become difficult for each individual to dispense time on everything. Moreover, preparing food following a bustling day involves much time. That is what has increased a huge obsession with these food delivery applications, where food will be delivered directly at your doors.
There are those unusual persons who have an ideal comprehension of all these brilliant ideas; thus, Deepinder Goyal. He is the expert behind this excellent food delivery application ‘Zomato.’ Let’s take a look at the success story of Deepinder Goyal.
Early Life Of Deepinder Goyal
He was born in an academician’s family where his father was a Botany teacher, and his mother was an English Teacher. He grew up in the small town of Punjab, India. He held a bachelor’s degree in Mathematics and Computing from IIT Delhi in 2005. The next step was employment, and Deepinder Goyal was able to land a job at the consultancy firm Bain & Co. In 2006 Goyal began work as a Senior Associate Consultant.
While working as a Consultant at Bain & Company, Deepinder Goyal noticed that many of his colleagues queued up at the pantry to look for menus to order food. This gave him the idea to create an online directory of food menus. Goyal started building a website (called foodlet.in back then, later changed to foodiebay.com) along with his wife and her younger sister.
Since all three of them had regular full-time jobs, they pursued this entrepreneurial dream on the side. Deepinder Goyal used to drive around the city and collect menus from restaurants, scan them, and put them online on their website.
The website was made live on 26th January 2008. During its early days, it received traffic of a mere 25 users per day, but what motivated Goyal to continue working on the idea was that some of the users provided positive feedback about the convenience of having scanned menus online. Foodiebay.com was made more engaging for its users by providing in-depth information about restaurants and events (e.g., menu cards, contact details, pictures, directions, ratings, and reviews). On 10th July 2008, Deepinder Goyal partnered with Pankaj Chaddah and continued to build foodiebay.com, later changing the name to Zomato.com.
How Zomato Operates
When Deepinder Goyal began Zomato, he had a single point: to give individuals a typical platform where they could search for restaurants. When the idea took off rapidly and right away, Deepinder acknowledged he needed to smooth out how he gathered information about restaurants.
The more Zomato began getting acknowledged, the more Deepinder Goyal smoothed out the cycle. His plan of action was basic. Each time Zomato begins working in another city, a single individual is appointed to gather information about the famous and available restaurants and clubs in the location. The data is then shipped off to a centralized group in Delhi.
The Company is divided in a way that every team has a specific job to do. With advertisements on the website, acting as the revenue format for Zomato, Deepinder Goyal created a model that ensures a revenue share system and branding the restaurants partnering with the platform! In short, he made a win-win situation for the partners as well as his Company.
Rise Of Zomato
Soon after its success in Delhi-NCR, the Deepinder Goyal started branching out to cities like Pune, Ahmedabad, Bengaluru, Chennai, and Hyderabad. By 2012, Zomato had started expanding overseas by extending its services to Sri Lanka, UAE, Qatar, South Africa, UK, and the Philippines. The year 2013 saw New Zealand, Turkey, and Brazil get added to its list.
As of 2018, Zomato clocks 3 million orders every month with 1.4 million restaurants listed on its platform. It is available in 10,000 cities and 23 countries worldwide.
In terms of numbers, Zomato recorded a 225% rise in revenue in the first half of FY2020. According to the company’s biannual report, it has registered $205 Mn in revenue, compared to $63 Mn in the first half of last year.
Currently, there are over 100 million Zomato users worldwide, and people use the application to get in touch with other foodies around the globe so that they can get the best of food in whatever place possible. This being an added advantage, big restaurants worldwide post their advertisements on the Zomato app; this is how Deepinder Goyal makes its money by Zomato.