Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s founder and CEO <keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> was given ESOPs worth ₹387 crore in the second half of FY2022.</li><li>However, he did not create any wealth out of it as he donated ESOPs worth ₹700 crore in May.</li><li>Goyal had also forgone his salary for three years and did not earn anything in FY2022.</li></ul>Zomato’s founder and CEO Deepinder Goyal received shares worth ₹387 crore under the employee stock option plan (ESOP) in the second half of fiscal year 2022. However, he does not personally gain from it. Goyal <a href="https://www.businessinsider.in/business/corporates/news/zomatos-deepinder-goyal-donates-stock-option-worth-700-crore-to-zomato-future-foundation/articleshow/91371003.cms#:~:text=Zomato%20founder%20and%20chief%20executive,delivery%20partners%2C%20among%20other%20things">donated all his ESOP proceeds worth ₹700 crore</a> to Zomato Future Foundation last month, which will be used towards offering free education to the children of delivery partners and other initiatives. This included the ESOPs allocated to him in the second half of 2022. <cmsannotation type="cmsannotation" annotationid="Not taking any salary till FY2024" comment="subhead" text="Not taking any salary till FY2024">Not taking any salary till FY2024</cmsannotation> Additionally, he also waived off his salary for the entire year that ended in March. He had also taken a pay cut owing to the COVID-19 pandemic. Goyal earned a basic salary of <a href="https://www.businessinsider.in/business/startups/news/checkout-zomato-top-executives-salaries-including-co-founder-and-ceo-deepinder-goyal/slidelist/82289352.cms#slideid=82289373">₹1.96 crore in FY2021</a>, compared to ₹3.5 crore earned in the previous year. As Zomato was preparing for its public debut last year, Goyal announced that he will not be taking any money home for the next three years, as salary. “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,” the company had said in its IPO papers. <cmsannotation type="cmsannotation" annotationid="How much did others earn?" comment="subhead" text="How much did others earn?">How much did others earn?</cmsannotation> Zomato — in its regulatory filings on Bombay Stock Exchange (BSE) — revealed that it has incurred an expense of ₹778 crore in salaries and other benefits like ESOPs between October 2021 and March 2022. Here is how much Zomato’s top management earned in the latter half of FY2022: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Designation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salary </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ESOP </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepinder Goyal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Founder and CEO of Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹386 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Akshant Goyal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CFO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹50 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sandhya Sethia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company Secretary </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kaushik Dutta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Namita Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aparna Popat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gunjan Tilak </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sutapa Banerjee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr></tbody><tbody></tbody></table>Source: Zomato’s filing on related party transactions Notably, CFO Akshant Goyal had also forgone his salary for the months of January, February and March. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/news/home-loan-rates-enter-red-zone-will-dent-affordable-and-mid-segment-sales-the-most/articleshow/92079341.cms" style=""></a><a href="https://www.businessinsider.in/business/startups/news/physicswallah-is-indias-first-profitable-edtech-startup-up-here/articleshow/92056796.cms" style="">YouTube channel to a billion dollar company — India’s first profitable edtech unicorn is here</a> <a href="https://www.businessinsider.in/business/ecommerce/news/after-amazon-flipkart-reliance-and-tata-neu-indias-133-billion-ecommerce-market-may-be-too-little-for-a-fifth-player/articleshow/92062540.cms">After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player</a> <a href="https://www.businessinsider.in/business/ecommerce/news/india-will-have-more-ecommerce-users-by-2025-than-us-population/articleshow/92062424.cms">India will have more ecommerce users by 2025 than US’ population</a>

Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021

<ul><li><keyword id="3127163" type="PERSON" weightage="20" keywordseo="CEO-Deepinder-Goyal">CEO Deepinder Goyal</keyword> owns about 5.5% stake in the company. </li><li>His net worth was estimated to be around $295 million in 2020. </li><li>Goyal also has been granted ESOPs worth over $600 million.</li></ul>The market value of cofounder and chief executive officer (CEO) <keyword id="476451" type="PERSON" weightage="20" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword>’s stake in the newly-listed company <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> has surged to a whopping ₹5,500 crore ($738 million). Goyal, who founded Zomato along with Pankaj Chaddah in 2018, owns about 5.5% stake in the company. The value of his stake has almost nearly doubled from ₹2,211 crore ($297 million) market value in February 2021, when Zomato was valued at $5.4 billion by external investors. According to a Hurun ‘India 40 &amp; under self-made rich list, 2020’ <a href="https://www.businessinsider.in/thelife/personalities/news/meet-the-top-10-youngest-rich-billionaires-in-india/slidelist/78641061.cms">report</a>, Goyal’s net worth in 2020 was around ₹2,200 crore ($295 million, at current conversion rate) in 2020. The report noted that Goyal’s wealth had increased 16% compared to 2019. However, it has not mentioned any other specifications like the increase in net worth over the years. Goyal received an annual remuneration of ₹1.9 crore (excluding employee stock ownership plan or ESOPs) in the financial year 2021. He has been appointed as the managing director and CEO of Zomato for the next five years until March 2026, with a basic salary remuneration of <keyword id="11706021" type="UNKNOWN" weightage="20" keywordseo="3-5">₹3.5</keyword> crore. However, he has voluntarily waived off his updated remuneration for a period of 36 months from April 1, 2021 onwards. Goyal has also been granted 36.85 crore shares under the ESOP plan. Zomato made a strong debut on the stock exchanges on Friday, July 23. The company’s shares opened at ₹116 on the <keyword id="53581" type="CITY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">national stock exchange</keyword> (<keyword id="6354646" type="UNKNOWN" weightage="20" keywordseo="nse">NSE</keyword>), representing more than a 51% premium over the issue price of ₹76. The company ended the first day of trade about 8% above the listing price, at ₹125.30. It also breached the market cap of ₹1 lakh crore at 10.16 a.m, only 16 minutes after listing. The market value of shares held by Info Edge, which is the largest stakeholder in the company, has increased to <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">₹15,000 crore</a> (roughly $2 billion).Meanwhile, Uber’s share has crossed<a href="https://www.businessinsider.in/business/news/uber-made-a-billion-dollar-from-zomatos-listing-without-spending-a-single-penny/articleshow/84672970.cms"> ₹9,000 crore ($1.2 billion)</a> without investing a single penny in the food aggregator business. SEE ALSO <a href="https://www.businessinsider.in/business/news/uber-made-a-billion-dollar-from-zomatos-listing-without-spending-a-single-penny/articleshow/84672970.cms" data-type="tilCustomLink">Uber made a billion dollar from Zomato’s listing, without spending a single penny</a> <a href="https://www.businessinsider.in/business/news/zomato-and-swiggy-are-best-food-delivery-apps-in-the-world-says-zomatos-ceo/articleshow/84668175.cms">Zomato and Swiggy are best food delivery apps in the world, says Zomato’s CEO</a> <a href="https://www.businessinsider.in/science/news/there-are-very-solid-engineering-reasons-why-jeff-bezoss-rocket-looks-exactly-like-you-know-that-/articleshow/84655433.cms">There are very solid engineering reasons why Jeff Bezos' rocket looks exactly like, you know, that</a>

Deepinder Goyal’s stake in Zomato is now worth more than $700 million

<ul><li>Indian <keyword id="3105315" type="PERSON" weightage="20" keywordseo="Foodtech">foodtech</keyword> unicorn <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> has reported a 105% growth in revenue – from $192 million in FY19 to $394 million in FY20. </li><li>The company has also seen its EBITDA loss widen by 5.7% from $277 million in FY19 to $293 million in FY20. </li><li>Zomato founder <keyword id="476451" type="PERSON" weightage="20" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword> said they expect to make complete recovery over the next 3-6 months.</li></ul>Indian foodtech unicorn Zomato has doubled its revenue from $192 million in FY19 to $394 million in FY20. The company has also seen its EBITDA loss has widened by 5.7% from $277 million in FY19 to $293 million in FY20. “While COVID-19 has impacted the size of our business, it has accelerated our journey to profitability. In terms of the size of the business, COVID-19 has set us back by a year or so – but a year is only a small blip when you are building a company for the next 100 years,” wrote Zomato CEO Deepinder Goyal in a blog. In the first quarter of FY21, with most restaurants being shut and operating on a takeaway only business, Zomato reported a revenue of $41 million and loss of $12 million. But Goyal believes that the COVID-19 pandemic has made their business healthy. “In July 2020, we estimate our monthly burn rate to land under $1m, while our revenue should land at ~60% of pre-COVID peaks ($23m per month). We expect to make complete recovery over the next 3-6 months while continuing to maintain tight control on costs/profitability,” he wrote. While Zomato had laid off 13% of its workforce due to the coronavirus pandemic, 75% of its employees volunteered for partial salary cuts resulting in a total reduction of 14% in payroll costs. However, the original salaries have now been reinstated and the burn rate of July includes the salary costs, said Goyal. Meanwhile, Zomato’s FY20 India food delivery Gross Merchandising Volume grew by 108% over FY19. “ In Q1 FY20, we used to make a contribution margin of –₹47 per order; in Q1 FY21, we made a contribution margin of +₹27 per order,” wrote Goyal. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-jio-fiber-and-reliance-invit-set-to-raise-over-1-billion-from-abu-dhabi-and-saudi-sovereign-funds-for/articleshow/76888352.cms">Mukesh Ambani is not done – Jio Fiber to get over $1 billion as Abu Dhabi and Saudi sovereign funds are set to invest in Reliance InvIT</a>

Zomato has doubled its revenue and founder Deepinder Goyal says COVID-19 has made the company lean and mean

<keyword id="830092" type="COMPANY" weightage="80" keywordseo="Zomato">Zomato</keyword>, the online restaurant listing and discovery platform has been in the news for a variety of reasons- be it for being valued as a unicorn company worth $1 billion, their mass firing, <a href="http://www.businessinsider.in/This-email-sent-by-Deepinder-Goyal-days-after-Zomato-fired-10-of-its-workforce-is-a-ringing-alarm-bell-for-every-startup/articleshow/49632512.cms">CEO Deepinder Goyal’s email to all employees</a> and the fact that the company might be unable to meet its revenue target for the first time in five years. 
 
Signs of turbulence however started a fortnight ago, when the company fired 10% (approximately 250-300 employees) of its workforce as a part of a ‘global restructuring.’ 
 
As expected, claims were made that the employees fired were never given constructive feedback or any inkling that they were under-performing. 
 The company vehemently denied these claims with the CEO <keyword id="476451" type="UNKNOWN" weightage="80" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword> sending out a warning disguised in an email to the <keyword id="640275" type="UNKNOWN" weightage="80" keywordseo="sales-team">sales team</keyword> and later forwarding it to all the employees rubbishing these claims, along with a few others. 
 
In the mail, Goyal explicitly states that there is always another side to a story, as in the case of Zomato’s mass-firing. He adds, that there is no truth behind the allegation that the employees who were asked to let go never got any feedback. 
 
“The fact is that a lot of people don’t take feedback seriously, and they keep under-performing consistently.” 
 
Goyal also pinpoints the sales team’s (which has quadrupled since 2013) underperformance in the mail and claims that they have not been ‘firing on all cylinders.” 
 The result of that inefficiency is according to him, Zomato’s dismal <keyword id="6492838" type="UNKNOWN" weightage="80" keywordseo="revenue-growth">revenue growth</keyword>. 
 
Not only has the number of meetings that the team should be having daily lessened, but also the closures that the company gets per person has become significantly smaller, he adds in the mail. 
 
Goyal attributes both problems to the lack of motivation and training in the sales team. 
 
However, what was meant to be an email that aimed at bringing about some much needed motivation in the sales team and in general was infact viewed as a mail that was draconian, indulged in a blame-game and one which highlighted Goyal’s apathy. 
 
A Zomato employee (name withheld by request) took us through the state of affairs at the company in his own words- 
 
“Our necks continue being on the line” 
 
Even after the company fired 10% of its workforce, no employee’s job is still safe. 
 
Our necks continue to be on the line. On Friday, more of my colleagues were laid off. These include, the Head of the Cashless Business, who was promised an alternative stint in the company, the Head of the White Labeled App Business (who had 12+ years of consulting experience) among countless others. Do they look like people who couldn’t perform to you? I don't think so. 
 
In light of these events, how can one really feel secure about their job and perform to the fullest? 
 
“Conditions within Zomato have been horrific right from the start” 
 
While it’s a given that every employee at Zomato loves the product, but that still doesn’t take away the fact that conditions within the company have been horrific right from the start. There exists a closed group of people who have christened themselves as the ‘Crew’ and who continue to terrorize and harass people. Much before things started to climb down revenue-wise, Zomato had a ‘hire and fire policy’. That’s not all. If you ask other employees, they will tell you what I’m telling you- the company never believed in role clarity, expectation management or constructive feedback. (Quite contrary to what was written in that long email meant to ‘inspire’) 
 
“It all talks about Zomato’s character at a very basic level” 
 
For the company, people (save for the handful of few in the crew) have always been treated as a dispensable resource - particularly at the senior and middle management level. This is because these people have a 'voice of reason' which Deepinder Goyal and his band of blood-thirsty Rottweilers are unable to tolerate. 
 
Please don't take my word for it - everyone knows how many CMOs have left the company. 
 
If you think that's the worst part, you're wrong. Sample this- while every single one of them has been gracious and dignified in their exit - the company continues to paint them like demons. It all talks about character at a very basic level. 
 
“There is little or zero motivation. And, that is because…” 
 
In his email, Deepinder Goyal stated that that there is little or zero motivation and he is absolutely correct. But, what he doesn’t say is the reason behind such a situation. 
 
Let me explain. 
 
Recently, a colleague was fired on the pretext of ‘you cannot sell.’ 
 
This would’ve been understandable had the person in question was employed in a sales role or had a sales background. Unfortunately, that wasn’t the case. He was told categorically in his closed room discussion with Deepinder that unless he agrees to move to the sales side, he will be fired. He resisted, and he was thrown out quite unceremoniously. 
 
Every company comes to a stage when they have to fire people. Again, that’s understandable. But, the least you can do is have the grace to tell them that they are being let go for reasons of restructuring, Most people are being fired on the pretext of being bad at their work, which is frankly unfair. I have seen multiple colleagues even being fired on the grounds of being a bad ‘culture fit.’ 
 
How difficult is it to tell people that they are not needed anymore rather than making them feel small or inconsequential? 
 
These are just a handful of the hundred stories that do the rounds of the company corridors every single day and keeping these in mind, you tell me how are we supposed to feel motivated? 
 
“Deepinder is brilliant, but…” 
 
Recently we had a virtual TownHall meetup with Deepinder. He, who claims to be so accessible, shot down most questions that challenged his beliefs and made a public spectacle of himself. 
 
Questions regarding 'poor motivation levels' and 'low salaries' were shot down, and people obviously stopped short of asking these questions. 
It’ll be wrong to not admit that he is brilliant, no doubt, but his emotional intelligence on the other hand, hovers at a sub-zero level. 
 
Granted, he has built a great company from ground up but what he lacks is empathy, and that is going to be his undoing. 
 
You can't build a company without people. People maketh the company. And if people are treated so poorly, then people will leave and never endorse your company, brand or product. 
 
It’s high time he understands that. 
 
(Repeated attempts were made to get in touch with the top management at Zomato, but our queries were not entertained)

“Conditions within Zomato
have been horrific right from the start” reveals an employee

This email sent by Deepinder Goyal days after Zomato fired 10% of its workforce is a ringing alarm bell for every startup

Twitter just got spiced up. One of the top start-ups <keyword id="830092" type="COMPANY" weightage="80" keywordseo="Zomato">Zomato</keyword>’s CEO Deepinder Goyal is in a war of words with his alma mater <keyword id="57604" type="CITY" weightage="80" keywordseo="iit-delhi">IIT Delhi</keyword> over campus placements. According to an ET report, Goyal had requested for a day one slot to recruit IIT Delhi students during the college’s placement sessions. 
 
“The placement officer told us our salary package was too low to be given the day-one slot," said Goyal, chief executive of online restaurant guide Zomato in the report. The company offered about Rs 16 lakh in annual compensation along with Employee Stock Options (ESOPs) worth Rs 10 lakh. 
 
However, the placement cell of the college did not seem to like the idea. The placement cell felt that the annual compensation offered by Zomato did not match up to the salaries offered by other companies. 
 
Goyal tweeted, “Campus placements in India are broken. Placement cells optimise only for money. Growth, esops, quality of work is secondary.” 
 
Interestingly, the company is competing with the likes of tech giants such as Google, Amazon, Adobe and Microsoft for recruitment of the best talents from country’s premier institutes. “Any company which has to compete for a slot has to match the cash salary offer. Zomato did not match the salary offer,” said A Madan, the college’s campus placement officer. This was quickly rebutted by Goyal on Twitter when he said, “Exactly our point. They don't understand ESOPs.” 
 
(Image credit: Indiatimes)

Know why Zomato’s Deepinder Goyal is lashing out at his alma
mater IIT Delhi on Twitter

New Delhi, May 15 () Online restaurant guide and food ordering platform Zomato on Friday said it is going to layoff around 13 per cent of its workforce on account of the impact of COVID-19 pandemic. The company has around 4,000 employees in different roles. In a blog post, Zomato Founder and CEO Deepinder Goyal said multiple aspects of the company's business have changed dramatically over the last couple of months and many of these changes are expected to be permanent. "While we continue to build a more focussed Zomato, we do not foresee having enough work for all our employees. We owe all our colleagues a challenging work environment, but we won't be able to offer that to around 13 per cent of our workforce going forward," he added. Everyone who is impacted will get invites for a zoom call with the leadership team within the next 24 hours, he said. Goyal said he along with COO and co-founder Gaurav Gupta and CEO Food Delivery Mohit Gupta would be getting on video calls over the next couple of days with impacted employees to walk them through the next steps and help find them jobs as soon as possible. On the financial support to these employees, he said: "All our employees who no longer have any work at Zomato, will continue to be with us at 50 per cent salary for the next 6 months. During this time, outside of the handover period of 1-2 weeks, we expect these folks to spend 100 per cent of their time and energy towards looking for jobs outside of Zomato". Goyal also said the company will provide them outplacement support and also health insurance for 6 months or as soon as they find another job. Previously allocated employee stock ownership plans (ESOPs) will continue to vest during this period of 6 months, he added. Goyal also said,"Starting June, I am proposing a temporary reduction in pay for the entire organisation. Lower cuts are being proposed for people with lower salaries, and higher cuts (up to 50 per cent) for people with higher salaries". Zomato expects these cuts to be discontinued as soon as the economy starts getting back on track. "I foresee and hope this to be around 6 months from now," he added. AKT ANUANU

Zomato to layoff around 13 pc employees due to COVID-19 impact

New Delhi, March 25 () Zomato founder and CEO Deepinder Goyal on Wednesday said the company is actively working with the authorities so that essential services can operate without trouble on account of lockdown in the country due to the coronavirus pandemic. He also said the online restaurant guide and food ordering company is also starting a fund to cover up the lost earnings for thousands of its delivery partners and hoped that the government would support them with this. "We are actively working with the authorities to clear the confusion so that essential services can operate without trouble," Goyal said in a tweet. In a series of tweets, Goyal said, "We are also starting a fund to cover up the lost earnings for thousands of our delivery partners. We also hope that we get government support to help us with this." Sharing his concern regarding the restaurants' partners during the lockdown, he tweeted that, "We are also going to facilitate loans for our food delivery restaurant partners -- thousands of restaurants have been severely hit because of their immobilised workforce due to the lockdown." Goyal said hundreds of Zomato employees have taken deep voluntary salary cuts to conserve the cash flows of the company. "We are also donating for our delivery partner fund, as well as 'Feed the Daily Wager' campaign to support the community during these times," Goyal said. He also said all paid Zomato Gold memberships across India, UAE, Australia, Indonesia, Philippines, Lebanon, Turkey, New Zealand, Portugal and Qatar will get a two-month membership extension at zero cost. "Dining out in many countries is badly hit. For our gold partners (dining out), we'll be facilitating working capital loans to get through this tough time," Goyal said. AKT HRS

You Searched For "deepinder goyal salary" and got 8 results

Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021

Kritti Bhalla

Deepinder Goyal’s stake in Zomato is now worth more than $700 million

Kritti Bhalla

Zomato has doubled its revenue and founder Deepinder Goyal says COVID-19 has made the company lean and mean

Sanchita Dash

“Conditions within Zomato have been horrific right from the start” reveals an employee

Poulomi Das

This email sent by Deepinder Goyal days after Zomato fired 10% of its workforce is a ringing alarm bell for every startup

Poulomi Das

Know why Zomato’s Deepinder Goyal is lashing out at his alma mater IIT Delhi on Twitter

BI India Bureau

Zomato to layoff around 13 pc employees due to COVID-19 impact

PTI

Working with authorities so that essential services can operate: Zomato founder

PTI

Popular Keywords

Buying Guides