Zomato founder - Deepinder Goyal, the ultra-rich startup entrepreneur after IPO debut. Food Delivery and Restaurant aggregator startup/company Zomato’s debut at the stock market with a 66% jump in the share price pushed the fortune of company’s founder Deepinder Goyal close to the $1 billion marks. According to a Bloomberg report, Goyal is worth $650 million based on his current 4.7% stake in Zomato which would double if he chooses to exercise his 368 million options vested over the next six years. Zomato According to Wikipedia Zomato is an Indian multinational restaurant aggregator and food delivery company founded by Pankaj Chaddah and Deepinder Goyal in 2008. Zomato provides information, menus, and user reviews of restaurants as well as food delivery options from partner restaurants in select cities. As of 2019, the service is available in 24 countries and in more than 10,000 cities. https://www.zomato.com/
66.95% Stake of Just Dial Acquires by Reliance Retails
Mani launched Just Dial in 1996 with a seed capital of Rs 50,000, with just six employees and a few rented computers in a garage.
Reliance Retail Acquires 66.95% Stake In Just Dial For ₹ 3,947 Crore.
Reliance Retail (Reliance Retail Ventures Private Limited -RRVL, a retail subsidiary of Reliance Industries Limited) acquired a stake of 66.95 percent for ₹ 3,497 crores in leading internet technology B2B company Just Dial on July 16, the retail company will make an open offer to acquire up to 26 percent in accordance with takeover regulations set by market regulator SEBI.
i.e. Reliance Retail may acquire a majority stake of 66.95 percent in Just Dial. With the acquisition, Just Dial Founder VSS Mani will continue to lead the company as its managing director and chief executive officer (CEO).
As per RRVL, the investment will help Just Dial to further grow and expand.
Just Dial at present has an extensive database of around 30.4 Mn listings and its existing consumer traffic is around 129.1 Mn quarterly unique users.
Other acquisitions by RRVL are -
- RRVL acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of INR 24,713 crore
- RRVL acquires 96% holding in Urban Ladder for Rs 182 cr on last year November 2020.
Reliance Retail
Reliance Retail is the retail initiative of Reliance Industries Limited and is central to the group’s consumer-facing businesses. Reliance Retail has been at the forefront of bringing about the Organized Retail revolution in India.
Reliance Retail has been ranked as the fastest-growing retailer in the world. It is ranked 53rd in the list of Top Global Retailers and is the only Indian Retailer to feature in the Top 100. It is the largest and the most profitable retailer in India with the widest reach.
Reliance Retail has more than 150 million loyal customers buying across all its formats. It recorded more than 640 million footfalls across all its stores in FY20, a scale unmatched by any other retailer in India. With over 100,000 transactions per hour, Reliance Retail operates at a scale unparalleled in the Indian retail industry and continues to enrich the quality of lives of millions of Indians every day.
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