Bengaluru: zomato co-founder Deepinder Goyal Said India is a difficult market to operate in, but the company will not focus on short-term profits at the expense of the food delivery company’s long-term success.
“India is a tough market to operate in, but if you are building to be successful in India, you are already exceptional,” he wrote to his shareholders on the day his company was listed on the BSE. Wally became the first startup unicorn and investors rejoiced at its entry with a big day’s rise in the share price.
Goyal described Zomato and Swiggy as the two best food delivery apps in the world today, but held back from being called world class. “We have a long way to go before we can call ourselves world class by the standards of our customers, but we are determined to get there.”
Shares of Zomato rose on its debut on Friday, which counts the company among its investors China’s Ant Financial, a market capitalization of over Rs 1 lakh crore, a move given the respective valuations of several hospitality and restaurant chains. Eye popping numbers.
“The overwhelming response to our IPO gives us confidence that the world is full of investors who appreciate the amount of investments we are making and have a long-term view of our business,” Goyal said.
However, he did not consider the listing a historic moment. “History is always built backwards. Currently never. Back to work,” he tweeted.
Goyal cautioned that the company’s success is also due to the country’s internet ecosystem that had matured over the past six years by laying the “railway” on which companies such as Zomato, Flipkart, Amazon, Ola, Uber and Paytm have thrived.
Referring to the telecom company’s rock bottom data rates, he said, “Jio’s exuberant growth has set us all on an unprecedented scale, helping people access the internet and be a part of the ecosystem.”
“India is a tough market to operate in, but if you are building to be successful in India, you are already exceptional,” he wrote to his shareholders on the day his company was listed on the BSE. Wally became the first startup unicorn and investors rejoiced at its entry with a big day’s rise in the share price.
Goyal described Zomato and Swiggy as the two best food delivery apps in the world today, but held back from being called world class. “We have a long way to go before we can call ourselves world class by the standards of our customers, but we are determined to get there.”
Shares of Zomato rose on its debut on Friday, which counts the company among its investors China’s Ant Financial, a market capitalization of over Rs 1 lakh crore, a move given the respective valuations of several hospitality and restaurant chains. Eye popping numbers.
“The overwhelming response to our IPO gives us confidence that the world is full of investors who appreciate the amount of investments we are making and have a long-term view of our business,” Goyal said.
However, he did not consider the listing a historic moment. “History is always built backwards. Currently never. Back to work,” he tweeted.
Goyal cautioned that the company’s success is also due to the country’s internet ecosystem that had matured over the past six years by laying the “railway” on which companies such as Zomato, Flipkart, Amazon, Ola, Uber and Paytm have thrived.
Referring to the telecom company’s rock bottom data rates, he said, “Jio’s exuberant growth has set us all on an unprecedented scale, helping people access the internet and be a part of the ecosystem.”
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