Restaurant aggregator and food delivery company Zomato’s stellar debut at the stock market with a 66% jump in the share price pushed the fortune of company’s founder Deepinder Goyal close to the $1 billion mark. The name was changed to Zomato as the startup attracted several global investors including Sequoia Capital and Jack Ma’s Ant Group Co. The Gurgaon-based company expanded in 100 cities across 19 countries but the loss-making venture forced Goyal to cut jobs and geographies. An impressive debut at the stock market has given hopes to other food startups and also presented an opportunity for retail investors. “I don’t know whether we will succeed or fail – we will surely, like always, give it our best.

Source: Hindustan Times July 23, 2021 16:18 UTC