Zomato IPO list in the market today
Shares of food supplier Zomato (Zomato IPO) were traded at Rs 115 on the BSE today. This is 51.32 per cent more than the issue price i.e. Rs. When Zomato shares were listed on the NSE at Rs. Zomato’s share has continued to rise since the listing. Shares of the company traded at Rs 138.50 on the NSE at 10.07 am. The market cap of the company’s shares has exceeded Rs 1 lakh crore. In terms of market cap, it has become the 45th largest company in India.
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How did Zomato start?
We tell you that Zomato is a food aggregator app that has many hotel or dhaba menu cards near you. With these menu cards, you can order as you wish and deliver directly to your address. This will save you a lot of time because otherwise you have to come out on your own. Currently the number of active users of this app is billions. The first idea to launch Zomato came to Dipinder Goel and Pankaj Chaddar in 2008. At that time he started the company as a restaurant and food listing website called ‘Foodibe’. Coming from IIT-Delhi, the two founders met while working at a firm called Bain Consulting.
How did Zomato come to mind?
Zomato CEO Dipinder Goel did not do well in his early studies. That is why he failed twice in the sixth and eleventh classes. However, later he studied seriously and he passed the IIT exam in the first place and completed his engineering from IIT Delhi. After graduating from here, Dipinder started working for management consulting company Bain & Company in 2006. At work, he saw his colleague standing in a long line for a cafeteria menu card at lunch. That’s why he came up with an idea and he scanned the menu card and put it on the site which is very popular. He then spoke to his cousin Pankaj Chaddar about it.
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The company began to receive funding
At one time Zomato only made money from advertising on its website. As of November 2013, Sequoia Capital India has led a $ 37 million round of financing for the company. At the time, both investors, Sequoia and existing investor Info Edge, Zomato, saw only a $ 150 million valuation. The story of Zomato and its founders is the story of an underclass man who never imagined he would be the front runner. However, Goyal doesn’t like the title very much.
Tags: Business News in Hindi, Food business, IPO, Success stories, Successful business leaders, Zomato