Nothing can attract a man like tasty and comfort food (apart from money of course). Well, what if someone finds a way to help you find the food you love easily and get it delivered to your doorstep? You love them even more. More than enough to make him the second richest man in Gurgaon.
And that’s the secret of Zomato’s CEO Deepinder Goyal in becoming not only one of the 23 people having a net worth of above ₹1000 crore in Gurgaon, but also the 2nd richest from Haryana’s city.
Let’s walk through Zomato’s journey – its history, the business path, the marketing strategy, and Deepinder Singh’s leadership qualities that helped him reach the height.
Zomato – A History
Zomato is an Indian multinational restaurant aggregator and food delivery company that was established in 2008 by Deepinder Goyal and Pankaj Chaddah.
They didn’t enter into food delivery right away. The start of Zomato was the creation of a website where Menus of restaurants are scanned and uploaded so that their colleagues find it easy to order their food online (the age-old method of ordering food through phone calls). As their website grew in traffic, Deepinder Singh and Pankaj Chaddah decided to incorporate menus from other restaurants in the city. And that was the birth of FOODIEBAY.
Later, they decided to change the name into something universal. And what’s a more universal ingredient than a ‘Tomato’. Following a review of the rhymes, the name Zomato was officially chosen in 2010.
Zomato’s Business Path
Zomato initially covered just the metro and other major cities as the ordering frequency was high only in those regions. However, As post-pandemic came their demand grew not just in bigger cities but also in many remote towns increasing their market.
Growing big, Zomato encountered many emerging competitors, and guess what? If Zomato finds them competitive enough, they buy them. Almost 13 startups(excluding Blinkit) were bought by Zomato. You can find the details of those purchases here: https://www.businessoutreach.in/companies-acquired-by-zomato/
One of the most beneficial acquisitions was UberEats India in 2020 for a whopping $206 Million.
Marketing Genius Zomato
Personalized notification- A Genius move: What’s the first thing that comes to one’s mind when someone says Zomato? Food Delivery. And what comes to the mind of a person having the Zomato app installed on their phone?
The daily personalized notification! The most comforting message one could get in a day, whether cheering them up after a sad match, boosting them from their breakup or just asking if they’ve eaten. The integration of the famous cinema dialogues and choosing the local language was an excellent way to connect with customers.
SEO Optimisation: Zomato has good SEO optimization in its website and app. Don’t believe me? Just type food delivery in Google and you’ll almost always see Zomato right at the top.
Social Media Presence: Zomato has a strong social media presence. Whenever there is a trending topic out there, Zomato will be ready with its content syncing with the topic and a relatable meme. And let’s not overlook the Google ads. It’s like they know exactly where to be when you’re hungry!
Quick Commerce: Zomato was quick enough to incorporate Quick Commerce by purchasing Blinkit in 2022. The quick delivery of groceries and other items for the household in just 10 minutes made it a huge success.
Deepinder Goyal: The Man behind the scenes
- The first person to reach the office: Deepinder believes in leading by example and is always the 1st person to enter the office. It’s his way of letting his team know that Zomato comes first above other things.
- Anticipate the future mindset: In an interview, Deepinder highlighted that India has a very low-frequency rate of ordering food as compared to other countries. He believes the rate to multiply by 4x or 5x but “when” would be an uncertain answer. Yet he believes he should be ready when that situation arises. His motto: be ready for a challenge/opportunity before it pops up.
Conclusion
From a modest start as a tool for menu scanning to becoming a name known across kitchens, Zomato’s journey is a tale of brilliance, adaptability, and visionary guidance.
Deepinder Goyal’s insight, perseverance, and focus on customers have not only reshaped how India orders food but also lifted him to the heights of Gurgaon’s wealth. With sharp instincts for growth, clever acquisitions, and a deep understanding of what diners want, Zomato has carved its niche in quick commerce, making its future as tempting as the meals it delivers.
In addition to the food delivery business, Deepinder Singh sure did cook some successful recipes for himself. Is there a way to order it?
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