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Zomato's Deepinder Goyal: Jio’s prolific growth has set us up for unprecedented scale, not altering course for short-term profits

Zomato IPO: Deepinder Goyal, the founder and CEO of Zomato, which is being listed today has said that he believes Zomato and rival Swiggy are two of the best food delivery apps in the world today. Here are the highlights of the letter.

July 23, 2021 / 12:32 PM IST

It's one of India's most anticipated public listings in India this year. As Zomato gets ready to become a publicly traded company, take a look at key highlights from its founder and CEO Deepinder Goyal's letter to stakeholders.

Highlights of the letter:

1. I’m a firm believer in India, and where our country will be in the future. India is a tough market to operate in, but if you are building to succeed in India, you are already exceptional.

2. I believe Zomato and Swiggy are two of the best food delivery apps in the world today.

3. Our 10+ year journey has not always been smooth. We have lived through many ups and downs – something not every company has the privilege of living long enough to do.

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4. Even in our hardest times, we’ve had half of our tech/engineering team work on long-term initiatives. And during the good times, we double down on the long term even harder.

5. We are going to relentlessly focus on 10 years out and beyond, and are not going to alter our course for short term profits at the cost of long term success of the company.

Read | Zomato's Deepinder Goyal: Today is a new Day Zero. I don’t know if we'll succeed, but we'll surely give it our best

6. The tremendous response to our IPO gives us the confidence that the world is full of investors who appreciate the magnitude of investments we are making, and take a long term view of our business.

7. While some of them no longer work with us, the influence of Pankaj, Saurabh, Mohit Kumar, Mukund, Akshar, and so many others can still be felt at Zomato. To our investors who have stood by us through thick and thin; Sanjeev, Mohit, Vamsi, Vishesh, Eric – we thank you for your confidence in us, and we hope to live up to your expectations in the future.

8. Today is a big day for us. A new Day Zero. But we couldn’t have gotten here without the incredible efforts of India’s entire internet ecosystem.

9. Jio’s prolific growth has set all of us up for unprecedented scale. Flipkart, Amazon, Ola, Uber, Paytm – have also over the years, collectively laid the railroads that are enabling companies like ours to build the India of the future.

Also read: Zomato's bell ringing ceremony to be a low-key affair with a few riders, customers and restaurant partners in attendance

10. We stand proudly and humbly on the shoulders of giants, and we thank everyone for giving us, and so many other startups, the opportunity to look ahead into the future.

11. I don’t know whether we will succeed or fail – we will surely, like always, give it our best. But I hope that the fact that we are here, inspires millions of Indians to dream bigger than we ever have, and build something way more incredible than what we can dream of. ​

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary. Jio is an RIL subsidiary.
Moneycontrol News
first published: Jul 23, 2021 09:43 am

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