Deepinder Goyal Reflects on Zomato's Toughest Times
Deepinder Goyal, the founder of Zomato, reminisced about a challenging time when Swiggy secured $1 billion in funding while Zomato only had $35 million
Zomato CEO
Zomato founder Deepinder Goyal recalled the only time he felt his food delivery company was at its lowest point. He reflected on the moment when Zomato's main competitor, Swiggy, raised $1 billion while his company had just $35 million in its coffers. This occurred in 2018 when Swiggy announced that its latest funding round, led by Naspers, was the "single largest in India's food technology sector to date."
Deepinder Goyal on Zomato's lowest point
Deepinder Goyal said, "The only one moment like 'Oh sh**, we're dead' was when Swiggy raised $1 billion, and we had $35 million in the bank. That was bad."
The company utilised the funds to bring more quality food brands closer to consumers and to fill supply gaps through delivery-only kitchens for its restaurant partners.
The Zomato CEO also revealed that he will not be returning as a judge on the popular reality show Shark Tank India for its fourth season due to a sponsorship deal with Swiggy. Deepinder Goyal served as a judge in the previous season, but he will not appear this time because of Shark Tank's ₹25 crore deal with Swiggy.
“The startup culture of India is too much about showmanship. I went there to set a different narrative, be real and change how people perceive. I felt a moral obligation to go there. I shot for one weekend and gave my perspective. I, unfortunately, can’t go back because Swiggy sponsored Shark Tank and kicked me out, at least that’s what I heard,” he stated.
