The shares of the firm got listed at a premium of about 53 per cent in its first trade against the issue price of Rs 76. With this rally, its market valuation crossed Rs 1 lakh crore on BSE.
Earlier in the day, he also said in a blog post, “Today is a big day for us. A new day zero. But we cannot get here without the incredible efforts of India’s entire internet ecosystem.”
In a blog titled “Letter from Deep”, he said that he was a firm believer in India, and where the country would be in the future, adding that “India is a tough market to operate in, but if you want to be successful, Manufacturing in India, you are already an exception.”
On the day of our listing, I want to share something with our shareholders and the startup ecosystem of India.… https://t.co/ygvzUnaZTo
— Deepinder Goyal (@deepigoyal) 1627010484000
He believes that Zomato and Swiggy are the two best food delivery apps in the world today. “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.”
Zomato’s journey of over 10 years has not always been easy. It has gone through many ups and downs — something that not every company is privileged to live with for a long time, he said.
Goyal said, “…we have found ourselves on different occasions managing times of crisis in the same way – impatiently focusing on long hours, executing tirelessly and doing what we can today.” Commit yourself to that,” Goyal said.
He said that even in its toughest times, the company has made half of its tech/engineering team work on long-term initiatives.
“We are going to focus on 10 years in a row, and are not going to change our course for short-term profits at the cost of the company’s long-term success,” Goyal said.
The overwhelming response to the company’s IPO, “Assures us that the world is full of investors who appreciate the magnitude of the investments we are making, and have a long-term view of our business,” he said.
They say it takes a village to raise a child, and Zomato is no exception, he said, noting that hundreds of people have selflessly played a part in making Zomato what it is today.
He also thanked the investors who stood by the company at all times.
“Jio’s immense growth has set us all on an unprecedented scale. Flipkart, heroine, Ola, Uber, Paytm – Over the years, have collectively laid railroads that are enabling companies like ours to build the India of the future,” Goyal said.
Zomato proudly and humbly stands on the shoulders of giants, and thanks everyone for giving this, and many other startups, the opportunity to look forward to the future, he said.
“I don’t know whether we will succeed or fail – we will certainly, as always, give our best. But I hope the fact that we are here will inspire millions of Indians to dream and build bigger than we ever have. What inspires us to do is more incredible than what we can even dream of,” Goyal said.
Goyal said in a tweet: “Many people are calling this a ‘historic moment’. Not so. History is always made in the back. Never in the present. Back to work.”
Many are calling it a ‘historic moment’. Oh no. History is always made backwards. Currently never. Back to Work.
— Deepinder Goyal (@deepigoyal) 1627019345000
Goyal also retweeted a tweet by the founder of Info Edge (India) Sanjeev Bikhchandani“Congratulations and a great team Zomato and Deepinder. It takes time to make great things. Thank you for making us look like smart investors.”
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