• Sat. Oct 29th, 2022

The $5.4 billion foodtech firm Zomato has just made its first move with respect to its initial public offering.A closer look at the DRHP reveals the take home salaries of Zomato’s top leaders, including its co-founder and chief executive officer Deepinder Goy…

Apr 28, 2021

Goyal started Zomato in 2008 and now holds a 5.5% stake in the company. While Goyal has a basic salary of 3.5 crore per annum, the co-founder has taken a pay cut owing to the COVID-19 pandemic. In the financial year ended March 31, 2021, Goyal had a salary of 1.96 crore. Goyal also announced that he will not be taking any money home for the next three years, as salary.
According to the DRHP filing, Deepinder Goyal has voluntarily waived his remuneration for a period of 36 months starting from April 1, 2021 and shall continue to discharge his roles and duties as Managing Director and Chief Executive Officer during this period.
An interesting fact is that the seed for Zomato was in Goyals head when he was in his last year of engineering at Indian Institute of Technology (IIT)-Delhi. It was towards the end of my five years at IIT that I was ordering a Dominos pizza and back then, you had to call and place an order. So while in college I started a food ordering company, it didnt work. It was way too early, Goyal had said during a Twitter live chat with the Shiv Nadar Foundation.