Deepinder Goyal

From that humble beginning, Goyal built Zomato into India's largest food technology company, going public on the BSE/NSE in 2021 in one of India's most anticipated tech IPOs. Zomato's core food delivery business connects millions of restaurant partners with consumers across over 1,000 Indian cities, competing head-to-head with Swiggy (backed by SoftBank and Prosus). But Zomato's most exciting growth story is now Blinkit — the quick commerce platform acquired in 2022 that delivers groceries and everyday essentials in 10-15 minutes. Quick commerce has become India's fastest-growing retail format, and Blinkit has been rapidly expanding its network of "dark stores" (small fulfillment centers) across Indian cities. Under Goyal's leadership, Zomato has achieved what many doubted was possible for an Indian food tech company: reaching profitability while maintaining rapid growth. The path to profitability involved reducing delivery costs per order, improving restaurant commission structures, growing the high-margin Zomato Gold dining membership program, and scaling Blinkit. Key stock drivers include food delivery order volume and gross order value growth, Blinkit dark store expansion and unit economics, the competitive dynamic with Swiggy, path to sustained profitability, and the overall pace of digital adoption in India's massive consumer market.