Even as fine-dining restaurants modify their menus to satisfy the growing demand for healthier cuisine, food delivery services Zomato and Swiggy have added health-focused ratings—”health scores” and “protein drops”—amid mounting scrutiny over food quality.
In an X post, Zomato creator Deepinder Goyal stated, “For years, something about Zomato made me uneasy.” He also announced the addition of a healthy score based on AI and restaurant data to the platform’s menu.
Last week, Swiggy launched its rating system. In a LinkedIn post, Deepak Maloo, its VP of culinary strategy, customer experience, and new projects, referred to it as the next drop in the high-protein, low-calorie, gluten-free, and fry-free categories.
Users’ Social Media Calls Now Addressed by Swiggy and Zomato
On social media, both platforms—which control the majority of India’s food delivery market—have come under fire for facilitating the speedy delivery of occasionally unhealthy, frozen, or occasionally unfresh food. Shantanu Deshpande, the creator of Bombay Shaving Company, wrote on LinkedIn that Zomato, Swiggy, and Zepto should not be used.
Additionally, please make the product palatable if you are so eager. On September 30, Goyal’s post went viral and elicited a range of conflicting responses. While some were appreciative of the move, others called attention to the reportedly “low hygiene standards followed by smaller cloud kitchens”.
Zomato’s Goyal Admits-Platform Not Providing Healthy Options
Another group of people claimed that the platforms’ health scores had flaws. In his X post, Goyal claimed that although Zomato made ordering takeaway and dining in easier than ever, it never really improved people’s quality of food. In actuality, Zomato made it difficult for people to obtain genuinely healthful cuisine, even though they might select a salad or smoothie bowl.
“Healthy eating is no longer a fringe trend; it’s a mainstream movement,” said Zorawar Kalra, owner of the Farzi Cafe and Masala Library restaurants. These days, menus feature more plant-based options and lighter, ingredient-driven cuisine. “Gourmet meets mindful” is the way of the future for dining.
The changes coincide with an increase in India’s market share for meal delivery services. According to a survey by Swiggy and Bain & Company, the nation’s food delivery market could reach INR 2 lakh crore by 2030, expanding at a compound annual growth rate of 18%. This development would be supported by digitisation, consumer preference for ordering in and experimenting, and rising disposable incomes.
Quick Shots
•Zomato’s health score is powered by AI and
restaurant data, offering users a clearer view of nutritional quality.
•The move follows rising social media criticism over
unhealthy, frozen, or poor-quality food from delivery platforms.
•Zomato CEO Deepinder Goyal acknowledged that the
platform historically made access to truly healthy food difficult.
•While many praised the step toward mindful eating,
others highlighted concerns over hygiene standards in smaller cloud kitchens.
The well-known foodtech company Eternal (previously Zomato) is establishing Blinkit Foods Limited as a new wholly owned subsidiary. “Blinkit Foods will be involved in the business food services, including innovation, preparation, sourcing, sale, and customer delivery of food,” the company stated in an exchange filing. The proposed authorised share capital of INR 1 Cr will be held by the subsidiary.
What is Blinkit Foods?
Although the business did not specify which market Blinkit Foods will serve, it is most likely going to serve Blinkit’s 10-minute meal delivery service Bistro. Eternal stated in its Q1 FY26 shareholder letter that it has been investing in the growth of Bistro, whose culinary infrastructure is owned and run by Blinkit. According to the firm, there are already 38 of these kitchens operating in Bengaluru and Delhi NCR.
Eternal’s Q1 FY26 Performance Snapshot
According to Eternal, it spent INR 60 Cr on capital expenditures in Q1, mostly for IT hardware and other needs, as well as investments in café kitchens. Overall, Eternal’s consolidated net profit fell 90% from INR 253 Cr in the previous quarter to INR 25 Cr in Q1 FY26. But compared to the same period the previous year, the top line increased by more than 70% to INR 7,167 Cr from INR 4,206 Cr.
Early data, according to Eternal CEO Deepinder Goyal, is positive because the kitchens are creating more demand without consuming Zomato’s revenue. Even though customer-side traction is rather high, the company still needs to put in effort and figure out how to turn a profit in this industry. As a result, Eternal will keep making strategic investments to create a profitable and scalable company.
Blinkit’s Financial & Infrastructure Growth
Operating revenue for the June quarter was INR 2,409 Cr, up over 40% from INR 1,714 Cr in the previous March quarter, according to Blinkit. Revenue increased by more than 155% year over year from INR 943 Cr. In the quarter under review, the fast commerce arm’s adjusted EBITDA loss was INR 162 Cr, compared to INR 178 Cr in the March quarter and INR 3 Cr in the quarter prior.
As Blinkit’s expansion drive proceeded, the adjusted EBITDA loss increased sequentially. During the quarter, it opened 242 new dark locations, bringing the total number of stores to 1,544. In Q1, Eternal invested INR 370 Cr in capital expenditures, of which about INR 310 Cr went towards growing its network of warehouses and quick commerce stores.
Albinder Dhindsa, CEO of Blinkit, stated that the company currently operates more than 5.6 million square feet of warehouse space nationwide, having added an additional 0.4 million square feet. Blinkit currently oversees over 10.4 million square feet of supply chain infrastructure, including the shop area. By December 2025, the company is expected to reach 2,000 outlets, he noted.
The National Restaurant Association of India (NRAI) has chosen to speak with Zomato this month after a flurry of restaurant complaints regarding the food tech giant’s recently implemented long-distance service charge.
According to various media reports, the restaurant industry association had preliminary talks with Deepinder Goyal, the CEO of Zomato parent company Eternal, about the matter and intends to meet with him this month to try to find a solution.
Zomato announced in May of this year that, regardless of order value, it would charge restaurants a service fee of INR 15 for deliveries within 4 to 6 km and INR 25 to INR 35 for deliveries over 6 km.
Restaurants are furious about this action. Zomato asserts that it sets a 30% commission cap on restaurant orders, but eateries complain that this cap has been violated as a result of the new long-distance price.
Why Restaurants are Unhappy with Zomato’s Long Distance Fee Move?
Zomato stated in an email that long-distance calls would cost between INR 25 and INR 35. The fee now stands at 35% for a customer who already pays 25% on a purchase of INR 250 plus an extra INR 25.
Then, Zomato claims that it will be limited to 30%. Thus, the structure is extremely complex and perplexing. According to the proprietor of a quick service restaurant (QSR), Zomato appears to be breaking the 30% commission cap by charging a long-distance fee.
According to NRAI, Zomato, not restaurant owners, chose to expand the delivery radius in order to expand the platform. Therefore, it is now their responsibility to find the answer. If they so choose, they are free to charge the person who is ordering food for this.
In addition to the long-distance charge, Zomato has angered restaurants by attempting to alter the conditions of its contracts with them. Zomato has been contacting eateries to sign a new contract under its parent company Eternal since May.
Restaurants, however, claimed that Zomato had covertly added a new provision to the contract that would allow it to sanction the former for failing to maintain pricing parity among food tech platforms. The majority of restaurants are not signing the new contract, according to a Zomato-listed restaurant partner quoted in the media.
NRAI Already Taken Legal Action Against Zomato and Swiggy
Since 2021, the NRAI has been fighting the two foodtech titans in court over their claimed anti-competitive behaviour. Additionally, the restaurant body has been at odds with Swiggy and Eternal regarding the meal options offered by their respective rapid commerce verticals, SNACC and Bistro.
Restaurants have therefore been searching for strong substitutes for the two platforms for a considerable amount of time. Although ONDC looked promising at first, its credibility as a viable alternative has been damaged by leadership turnover and a drop in retail food orders.
The NRAI has now partnered with Rapido to distribute food in a fresh attempt. Eternal’s decision to increase meal delivery fees comes as the company seeks to boost its top line despite the industry’s decline.
While Eternal’s rapid commerce vertical Blinkit grew 122% YoY to INR 1,709 Cr during the quarter, Zomato’s sales grew just 17.5% YoY to INR 2,409 Cr in Q4 FY25.
The food delivery segment in India has witnessed an unprecedented surge. Late-night cravings, urgent home delivery, etc., have now become the norm. Despite being a huge potential market in India at present, only 2-3 brands dominate this industry, and Zomato is one of them.
Zomato is an Indian restaurant aggregator that delivers food in almost every Indian city. Zomato provides a complete reference for a restaurant. Right from menus to reviews, it covers all the aspects centered around a restaurant.Now, the question in your mind would be, who found this brilliant startup to curb all your midnight cravings? It was founded by Deepinder Goyal and Pankaj Chaddah.
Zomato is gradually building on its global presence. They have acquired about 15 startups in different countries, including foreign competitors, to increase their foothold in other countries. In 2014, Zomato acquired Gastronauci, Poland’s restaurant search service, and Cibando, an Italian restaurant finder. They made their biggest acquisition in 2022 by acquiring India-based Blinkit (formerly Grofers) for an estimated $560 million in an all-stock deal.
Initially named Foodiebay when it began in 2008, the venture was later renamed Zomato in 2010.
Zomato Limited, the parent company of Zomato, has officially changed its name to Eternal Limited as of March 20, 2025, following approvals from both shareholders and the Ministry of Corporate Affairs. Despite the name change at the corporate level, the Zomato brand and app will continue to operate as usual, with no changes to its identity or services.
Deepinder Goyal Biography
Name
Deepinder Goyal
Born
26th January, 1983
Birthplace
Punjab, India
Education
Indian Institute Of Technology, Delhi
Wife
Grecia Munoz
Position
Co-founder and CEO of Zomato, Director of Upslope
Net worth
$1.7 billion, (October 2024)
Let us look at Deepinder Goyal story, education, personal life, controversies, life story, and history of someone whose current net worth is $1 billion.
Deepinder Goyal was born into a humble family in Muktsar, Punjab, on 26 January 1983. Zomato CEO Deepinder Goyal recently married Mexican model-turned-entrepreneur Grecia Munoz. Reports indicate that the couple tied the knot a few months ago. This is Deepinder Goyal’s second marriage; he was previously married to his IIT-Delhi batchmate, Kanchan Joshi.
Deepinder Goyal – Education
Hailing from a middle-class family, the Zomato founder, Deepinder Goyal, had a modest upbringing. After completing his graduation from the prestigious Indian Institute of Technology, Delhi, in 2005 in Mathematics and Computing, his interest in food was encouraged to conceive a venture that would help people have their lunch, breakfast, and dinner through the convenience of an app.
Deepinder Goyal – The Idea of Zomato
Ordering food from home wasn’t easy initially. To order food online, one had to choose from multiple restaurants without any information about the reviews and ratings. Discounts and offers on dining and food delivery were almost non-existent.
After graduating from IIT Delhi, Deepinder joined Bain and Company as a Senior Associate Consultant in January 2006. During his tenure with Bain, he founded FoodieBay.com, which later became Zomato.com. The idea of FoodieBay.com was his eureka moment. At Bain and Company, everyone had to stand in long queues to place their order. Deepinder and his colleague at Bain, Pankaj, came up with a creative solution to save the time they spent ordering food.
It was then that the duo decided to create a website for food ordering for Bain employees using the company intranet. To their surprise, the website was a hit and received heavy traffic. The Zomato founders saw an opportunity that could revolutionize the food tech industry.
Deepinder’s idea kick-started a new era. Neither he nor his colleagues thought that their idea would give rise to one of the most popular food aggregation brands.
After their experiment and the response they got from it, they were forced to add more restaurants to the list. By the end of the year, FoodieBay.com was introduced in mega-cities like Kolkata and Mumbai. In the year 2010, their startup started serving customers in Pune and Bangalore.
Deepinder Goyal recently joined India’s billionaire club following a surge of over 300 percent in Zomato shares since last year, reaching a market cap of INR 1.8 lakh crore, according to Moneycontrol. At 41, Goyal has also become India’s richest professional manager, with a net worth exceeding INR 8,300 crore.
Deepinder’s initial hurdle came from his family, who were reluctant to leave his stable job at the firm and join the startup journey and lifestyle. Deepinder’s wife, Kanchan Joshi, whom he met at IIT, was reluctant initially but later supported his new lifestyle completely. After establishing the startup in big cities, the Zomato owner hired Gunjan Patidar, another IITian, to assist the team in Operations. He had a hectic time running FoodieBay.com since the concept was unique and unknown to people at that time, and difficulties were inevitable. He had to face numerous entrepreneurial problems to convert his hard work into success. During the first two years, they ran the website without any hurdles but found it difficult to scale as more and more restaurants and pubs were being covered under Zomato. It was also a difficult time for them due to dwindling financial resources and trouble in securing funding.
Deepinder Goyal – Raising funds for Zomato
When the Zomato team desperately needed funding, Info Edge came to its rescue. In August 2011, Info Edge invested $1 million in FoodieBay.com, which was when Zomato founder Deepinder Goyal and his team changed the company’s name to Zomato.com. The funding was a morale booster that prompted Deepinder and Pankaj to quit their jobs at Bain and Company and dedicate all their time to the growth of Zomato.
After this, the food delivery and ordering trend took India by storm, turning the tide for Zomato. Since their initial funding in 2011, they’ve gone on to be funded by several investors and achieved the status of a unicorn in 2018. They ended 2020 by closing a $660 million primary financing round at a post-money valuation of $3.9 billion.
With rapid developments in the technology sector, Zomato modified its ways and launched its applications in iOS, Android, and Windows. Increasing popularity gave way to expansion in cities like Chennai, Hyderabad, and Ahmedabad.
After expansion, Zomato collaborated with Citibank, which was named “Citibank Zomato Restaurant Guide.”
The company is now publicly traded. On July 23, 2021, the shares were listed on the BSE and NSE. Its IPO price range was INR 72 to INR 76 per share. The market capitalization of Zomato is $29.94 billion (as of April 2025). It is the 817th most valuable company in the world based on market value.
Deepinder Goyal – The Dream Flight
Zomato Financial Snapshot FY24
Under Zomato CEO Deepinder’s guidance, the company expanded its operations in countries such as Dubai, UAE, Sri Lanka, Qatar, the United Kingdom, South Africa, the Philippines, and New Zealand.
During FY 2011-2012, Zomato Media Pvt. Ltd. reported revenues worth INR 2.04 crores, which ballooned to INR 11.38 crores during the financial year 2012-2013.
Zomato had around 2.5 million visitors on its website in March 2012. This increased exponentially to 62.5 million during 2014. Their revenues surged too, INR 30.06 crore generated in 2012 as revenue increased to INR 96.7 crore in 2015. Zomato recorded a growth rate of 68.9% in its gross revenue, reaching INR 7,079 crores in FY23.
In Q3 FY25, Zomato posted a revenue of INR 5,405 crore, marking a 64.4% increase from the previous year. However, its profit declined by 57% year-on-year to INR 59 crore due to rising expenses.
Zomato co-founder and CEO, Deepinder Goyal, has launched a new health and wellness startup called ‘Continue’ on 21st October 2024. This venture is focused on health tracking and mental wellness. The website, Continue.com, is still in a secretive “stealth mode,” so not many details are available yet. The company, called Upslope Advisors Pvt Ltd, was registered in April 20. Deepinder Goyal is a Director, and two Zomato employees, Akriti Mehta and Simrandeep Singh, are listed as Additional Directors, based on information from the Ministry of Corporate Affairs. This is Deepinder Goyal’s personal venture at this point.
Update on Continue
Been getting a lot of curious messages since the morning, so here’s an update on Continue.
It is as of now, my personal health and wellness team, entirely funded by me, which tracks and researches how to keep me running at my peak performance.
Deepinder has shown how to grow a business by setting up examples for his co-workers. Working for 24 hours is never a cakewalk, especially when there’s pressure from parents upon leaving a well-settled job. Under his guidance, Zomato has received multiple awards, mostly user choice, which proves customer satisfaction. At the age of 31, Deepinder Goyal, the founder of Zomato, won the Economic Times Startup of the Year. Rising from the lowest moments of despair and distress to revolutionizing an entire segment is no simple feat. That’s what Deepinder Goyal has achieved. A millennial cannot imagine life without Zomato—Deepinder has taken his venture to enviable heights!
Deepinder Goyal – Shark Tank India
Shark Tank India Judges – Anupam Mittal, Namita Thapar, Deepinder Goyal, Vineeta Singh, Aman Gupta
Deepinder Goyal was one of the new sharks on Shark Tank India season 3. At the age of 40, he became an inspiration to young people and has chosen to impart his knowledge to aspiring entrepreneurs. He joined Ritesh Agarwal, the founder and CEO of OYO Rooms, Azhar Iqubal, the co-founder and CEO of Inshorts, and the returning sharks Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh, and Peyush Bansal on the panel.
The Zomato founder invested in unique and scalable firms in Shark Tank India season 3. He was particularly interested in businesses that were challenging the status quo and had the ability to make a significant difference in people’s lives. Goyal’s addition to the panel of sharks was indeed more exciting and informative.
Deepinder Goyal wrote this on his social media:
All growth comes from discomfort.
I am here to learn, step outside my comfort zone, and add my two special cents to something crazy.
This is turning out to be a weekend well spent outside of @zomato.
As per reports, the food delivery platform and Zomato’s competitor, Swiggy is close to finalizing a deal to sponsor the fourth season of Shark Tank India season 4. Swiggy has requested that Zomato CEO Deepinder Goyal not return as an investor, according to Goyal. This decision highlights the growing competition between the two food delivery companies.
“I unfortunately can’t go back because Swiggy sponsored Shark Tank this time and kicked me out,” Goyal said at the ET Startup Awards 2024 on 5th October, 2024.
“Apparently, that’s what I heard. They (Swiggy) said that this is the sponsorship, and DP (Deepinder Goyal) can’t be on the show,” he added.
In March 2025, a public clash happened between Zomato CEO Deepinder Goyal and Zepto CEO Aadit Palicha over the quick commerce market. Goyal said the industry was losing around INR 5,000 crore every quarter, and blamed Zepto for more than half of it.
Palicha replied on LinkedIn, calling Goyal’s claims “verifiably untrue.” He said Zepto’s financials would prove him wrong, but still showed respect for Goyal, calling it possibly a mistake.
Later, Palicha accused a rival CFO of spreading lies to investors and using social media bots to damage Zepto’s image.
This dispute shows the rising tension in the fast-growing quick commerce space in India.
Deepinder Goyal started a debate on 20th November 2024 by offering a Chief of Staff job with a strange condition. In this job, the applicants must pay INR 20 lakh to get the job, and there will be no salary at first. Goyal said this Chief of Staff job will give 10 times more learning than a two-year course at a top business school. Another benefit is working closely with him and some of the smartest people in consumer tech.
The job post got mixed reactions on social media. Many users said it is unfair to talented people from less wealthy backgrounds who can’t pay INR 20 lakh upfront or cover their basic needs for a year.
A day after this controversial Chief of Staff job post, Goyal said on 21st November 2024 that they got over 18,000 applications. He explained that the INR 20 lakh fee was just a way to filter candidates and wouldn’t actually be charged.
Deepinder Goyal – Investments
Deepinder Goyal has made 22 investments. His most recent investment was in March 2025, in LAT Aerospace of $20 million, a new startup he co-founded with Surobhi Das, the former Chief Operating Officer (COO) of Zomato.
Zomato, a key player in the foodtech industry, has allegedly begun collecting a new “long-distance service fee” for orders that are delivered more than four kilometres. The company would now charge its clients INR 15 for deliveries within a 4- to 6-kilometre radius if the order value exceeds INR 150, according to a media report that cited people familiar with the situation.
Depending on the city, the fee for orders over 6 km will range from INR 25 to INR 35. According to the report, the foodtech giant assured its restaurant partners that, excluding other expenses, the total service fees, including this additional distance charge, would not exceed 30%.
However, according to some eateries, their overall commission fees may reach 45%. The news occurs weeks after the company’s fourth quarter financial results were released, which showed that despite a solid topline growth, its bottomline suffered greatly due to rising competition in the rapid commerce industry and stubbornly high expenses.
Zomato Realigning its Business Strategies
While operating revenue soared 64% to INR 5,833 Cr in the quarter under review from INR 3,562 Cr in the previous year, Zomato parent company Eternal’s consolidated profit after tax (PAT) fell 77.8% to INR 39 Cr in Q4 FY25 from INR 175 Cr in the same period last year.
In an effort to boost its bottom line, the foodtech behemoth founded by Deepinder Goyal is reportedly raising prices and taking away some privileges from its customers and restaurant partners.
Zomato Also Altering its Gold Membership Benefits
Zomato recently introduced a significant modification to its Gold membership benefits: starting on May 16, users who were already enrolled in its Gold membership plan will be subject to an extra rain fee.
The platform cost, which is now INR 10 per order, was previously increased by the corporation four times in the last year alone.
In light of this, the Competition Commission of India (CCI) declared in April that the foodtech giant’s platform fees, food prices, and delivery fees did not constitute unfair or discriminatory conduct.
Competition is Getting Tougher as Swiggy Rolls Out New Scheme for Corporates
To further strengthen its food delivery business, listed foodtech firm Swiggy has established a corporate rewards programme, just days after unveiling a new initiative to attract students.
The CEO of Swiggy’s food marketplace segment, Rohit Kapoor, stated in a LinkedIn post that the new programme will provide corporate personnel with a number of advantages, such as lower Swiggy One membership costs and order discounts.
Kapoor went on to say that Swiggy’s new Corporate Rewards programme truly excites him. A wealth of advantages can be accessed with just a basic email verification. Customers can receive at least INR 125 off simply by using their work email, or they can have a Swiggy One subscription that offers unlimited free deliveries for a full quarter.
Corporate personnel will receive “a minimum of INR 125 off on food orders”, “flat INR 1,000 on top of pre-book offers”, and Swiggy One membership at “INR 30” (with “free” delivery for 3+1 months).
Zomato has discreetly declared that its Gold subscription users will now be required to pay a “rain fee”. The restaurant aggregator has changed its subscription plan so that even its premium customers will now be charged more for deliveries conducted in adverse conditions.
The majority of rapid commerce and foodtech platforms charge extra for deliveries. For its Gold customers, Zomato eliminated the INR 10-35 rain fee that it previously charged.
As of May 16, this perk will no longer be available. Additionally, each order on the meal delivery platform incurs a platform fee of INR 10. Zomato stated in an app notice that the fees will enable it to better reimburse its delivery partners in the event of rain.
Zomato Witnessing Steep Decline in its Business
Zomato’s parent company, Eternal, announced a sharp 78% year-over-year (YoY) decline in net profit for the March quarter, coming in at INR 39 crore, as the firm’s bottom line continued to be negatively impacted by losses from its rapid commerce division, Blinkit.
The expansion of Blinkit, which is now tied with food delivery in terms of gross order value (GOV), was the main driver of the Gurugram-based company’s operating revenue, which increased 64% year over year to INR 5,833 crore.
The expansion of Blinkit was accompanied by a 75% sequential increase in operational losses to INR 178 crore. The company’s established business of food delivery kept expanding gradually.
Strong discretionary spending and the growing impact of fast commerce on operations and demand were cited by CEO Deepinder Goyal as the reasons for the slow pace. According to Goyal, market share, however, stayed steady with the expectation of future increases.
Zomato Delisted 19000 Restaurants
According to Goyal, Zomato delisted almost 19,000 businesses in the March quarter, which had an effect on the volume of food delivery orders. Because they violated hygienic regulations, imitated well-known brands, or ran several identical menu listings to increase listing impressions, these restaurants were removed from Zomato.
The firm also shut down its homely meal service, Everyday, and its 15-minute food delivery service, Quick, as a sign of its growing reliance on food delivery for overall earnings.
The company does not see a clear “path to profitability” for these services “without compromising customer experience”, according to CEO Deepinder Goyal’s letter to shareholders.
After Zomato and Swiggy eliminated the rain surcharge waiver from their membership programmes, their stocks increased by 3.3% on 15 May. In Friday’s trading, Swiggy’s shares increased 3.3% to INR 326.8, while Zomato’s shares increased 2% to reach a day’s high of INR 247.2 on the BSE.
The action is consistent with the businesses’ larger attempts to increase profitability, especially in light of the growing losses in its rapid commerce verticals.
A post on Reddit from an anonymous source who claims to be an employee of Zomato, has stirred up quite a bit of controversy. It alleges that Zomato is in crisis and that the popular food delivery platform is steadily losing ground to competitors like Zepto Cafe and Swiggy. The post also mentions an internal edict that supposedly requires Zomato employees to place at least seven orders a month from Zomato and that there are apparently systems in place to monitor and enforce this directive. The post added that Zomato employees are discouraged from ordering from rival platforms, especially if they happen to be within the Zomato office. Alongside all this, the post paints a picture of a toxic work culture at Zomato, one in which leadership seems to come and go suddenly and one in which both employees and partners (restaurants) seem to be rather dissatisfied.
CEO Deepinder Goyal Dismisses Allegations
Zomato’s CEO Deepinder Goyal very promptly pushed back against the viral post, calling it complete nonsense. On the social media platform X, Goyal countered that Zomato does not require its employees to order food from the company and certainly allows them the freedom to make such decisions, or not, as they please.
“All of this is utter nonsense,” Goyal said on X. “Neither are we losing market share, nor will we ever force our employees to order on Zomato. Freedom of choice is something we stand for vehemently.”
Signs of Pressure Amidst Slowing Growth
Although Zomato’s leadership denies that an internal crisis exists, the company is confronting external difficulties. Its most recent financial results showed lackluster growth in the December quarter, which is usually a peak season for the industry. Zomato’s Gross Order Value (GOV) increased only 2% sequentially to INR 9,913 crore, even as the year-on-year rise stood at 17%. Despite this, Zomato’s main rival, Swiggy, appears to be increasing its market share slightly and now has 43%. All of this suggests that Zomato’s growth troubles are real but perhaps not as dire as the whistleblower alleges.
Contentious as they may be, Goyal’s assurances firmly establish Zomato’s objective of keeping operational stability and trust with its various stakeholders. The company appears to be keeping a strong focus on maintaining even its operational objectives, appearing clear to avoid cutting deep into the employee base. Zomato will need to keep holding all those necessary stakeholder relationships for them to be able to pivot into the even more important growth and profitability phase that they have been missing since they listed.
According to a media report, Rakesh Ranjan, the CEO of Zomato‘s meal delivery company, will be leaving his current role. As per the published news, Deepinder Goyal, the creator and group CEO of Zomato, would oversee food delivery operations in the upcoming months.
Rakesh Ranjan will undoubtedly stay with the company and not be leaving. According to the report, this was a component of the company’s biannual leadership reorganisation.
As part of the company’s continuous attempts to maximise organisational effectiveness, Zomato’s spokeswoman said that internal reorganisation of the executive team is seen as a routine practice at Eternal Group.
Food Delivery Sector Witnessing a Meltdown
Although Zomato regularly restructures its leadership, the management shift coincides with a slowdown in the larger food delivery sector. According to Rakesh Ranjan, the food delivery industry is currently seeing a widespread downturn in demand that began in the second half of November.
In his January 20 shareholder letter detailing the company’s quarterly results, he made this announcement. Ranjan has worked at the Gurugram-based company for almost eight years, having been appointed CEO in June 2023.
Zomato was already leading the market when Ranjan took over, but throughout the previous few months, it increased its advantage. However, the meal delivery industry is still developing since there is still no obvious leader, and Swiggy and Zomato’s market shares fluctuate periodically.
Not just Zomato, the industry leader in meal delivery, is seeing a slowdown. In line with peers, Swiggy, its rival, has also experienced a downturn.
Major Changes in Leadership at Zomato
Zomato has made two significant leadership changes in its meal delivery company in the midst of a slower market and some market share erosion.
Rakesh Ranjan has been replaced as the unit’s CEO by Deepinder Goyal, and earlier this month, Rinshul Chandra resigned as the chief operational officer (food delivery).
Delhi HC Notifies Zomato and CCI
As part of an ongoing antitrust probe against the foodtech giant, the Delhi High Court (HC) has sent notice to Zomato and the Competition Commission of India (CCI).
According to reports, the HC made the rulings at a hearing on a plea against the National Restaurant Association of India’s (NRAI) exclusion from the confidential ring during the investigation. The HC was also urged by the NRAI to examine the company’s confidentiality claims.
The confidential ring was first introduced in 2022 and gives parties access to private documents or information about other parties in an inquiry so they can better defend themselves.
The confidentiality ring aids regulators in quickly resolving complaints, subject to specific riders. Exclusion from the ring inhibits a petitioner’s capacity to make a defence.
It is important to remember that in October 2024, the competition watchdog removed the NRAI from the ring after it had been first included.
At the hearing on 21 April, Zomato’s lawyer allegedly argued that the NRAI should not be included in the confidential ring because it included companies that are competitors of the foodtech juggernaut.
Shark Tank India created quite a stir with its four seasons in the country and amongst its people. People love the angst, new ideas of young entrepreneurs, and all the great advice provided by the ‘Sharks’.
The first season premiered on Sony LIV and Sony Entertainment Television from 20 December 2021 to 4 February 2022. The show was produced by Studio NEXT Sony Pictures Television. Apart from the splendid business models and innovative ideas, the main attraction of the show was the ‘Sharks’. With great popularity and success, it has had 4 successful seasons. After a long wait, Shark Tank India Season 5 has been confirmed to return in Sony LIV’s 2025 schedule, bringing investors and start-up founders together once more.
The ‘Sharks’ here are some of the country’s most influential and prominent entrepreneurs and are the ones who have taken charge of investing in the businesses. If the investors are impressed by the products and services, they naturally become a part of their business by investing in them. The show itself is possible because of the investors; they are the one who provides the funds that will take the business of the young entrepreneurs forward.
Now, don’t you want to know about the richest shark on Shark Tank India and the sharks providing a ladder to reach the top to all the young entrepreneurs who dreamt of conquering the business world with their exceptional ideas? Well, here we will talk about the ‘Sharks’, their net worth, and the ones who have supported the exceptional business models of young entrepreneurs on the show. So, without any further ado, let’s get started.
Ritesh Agarwal is the founder and CEO of OYO Rooms. He was the newly added Shark for season 3 of Shark Tank India. He dropped out of college after a few days to pursue his entrepreneurial dreams. His net worth is Rs 14,400 crore as per Hurun Rich List 2024, making him one of the richest sharks in Shark Tank India Season 4.
OYO Rooms, a worldwide hospitality marketplace established in 2012, assists travellers in locating inexpensive accommodations all around the world. This business advertises its leased and franchised hotels on its website so that customers may choose the rooms and living areas they want at a price they can afford.
Ronnie Screwvala is an Indian entrepreneur and Chairperson and Co-Founder of upGrad, an online higher education platform that provides various courses in partnership with universities and industry experts. The valuation of upGrad is $2.25 billion. Ronnie Screwvala is a prominent figure in the Indian business and entertainment industry and has made significant contributions in the fields of media, entertainment, and education. He was a new addition to Shark Tank India’s third season.
He co-founded UTV Software Communications (now part of The Walt Disney Company) in 1990. UTV became one of India’s leading media and entertainment conglomerates. He then founded RSVP Movies in 2017. The company is a private Indian film production and distribution company. RSVP stands for Ronnie ScrewVala Production. Screwvala is also the founder of Unilazer Ventures and Swades Foundation. He took a step back from filmmaking after selling his company in 2012. The net worth of Ronnie Screwvala is $1.55 billion.
Amit Jain is the co-founder and CEO of CarDekho. He replaced Ashneer Grover in the second season of Shark Tank India. Mr. Jain, an IIT graduate, is one of the most successful entrepreneurs in India. The net worth of the shark Amit Jain is $355 million (approx).
Cardekho.com – a car buying and selling platform, was launched in 2008. It went through many ups and downs until a Series-A funding of $15 Million was secured in 2013. Now Cardekho is a unicorn with a valuation of over $1.2 billion. Amit Jain reportedly charges INR 7 lakh per episode.
Deepinder Goyal
Name
Deepinder Goyal
Company
Zomato
Net Worth
$1.8 billion (Rs 15,274 crore)
Deepinder Goyal – Shark Tank India Judges
Deepinder Goyal is the co-founder and CEO of Zomato. He was the newly added Shark for season 3 of Shark Tank India. Mr. Goyal has graduated from IIT Delhi. His company, Zomato, is a publicly listed company on the National Stock Exchange of India. Zomato’s subsidiaries are Blinkit and Urbanspoon. As of December 2024, Zomato has a Market Cap of $32.71 billion. The current net worth of Deepinder Goyal stands at $1.8 billion. He was one of the richest sharks in Shark Tank India season 3.
One of the most extensive and user-friendly apps for locating nearby eateries where you can eat or place an online food order is Zomato. In order to gather factual information on restaurants, it also provides menus, reviews, and ratings. The company became a unicorn in February 2018.
Deepinder Goyal is not part of Shark Tank India season 4. While rumours suggested his exit was due to Swiggy’s sponsorship, the show’s makers clarified that his absence was due to scheduling conflicts, and they would be happy to have him on future seasons.
Ashneer Grover was the managing director and founder of BharatPe, an Indian fintech company that was founded in 2018. This UPI-based app became a Unicorn in the year 2021 and currently, the value of the company is around $2.9 billion. The net worth of Ashneer Grover is $108 million.
BharatPe is an acquaintance of small-scale businesses and provides them with their payment service. Grover’s BharatPe gives intense competition to other online payment apps like Mobikwik, Paytm, and PhonePe. Ashneer Grover got INR 10 lakh per episode. However, he discontinued as a shark after season one.
Apart from BharatPe, he has also invested in companies like OTO Capital, The Whole Truth, IndiaGold, and Front Row. He has invested in various startups on the show, likeTagZ Foods, Zoro, Fello,etc. Ashneer Grover announced his resignation from the BharatPe on 28 February 2022. He is currently the co-founder of Third Unicorn, Crickpe. The company provides a cricket fantasy gaming platform. The company allows players to participate in public, private, and “mega contests” to earn cash prizes.
Aman Gupta
Name
Aman Gupta
Company
boAt
Net Worth
$87 million (Rs 720 crore)
Aman Gupta – Shark Tank India Judges
Aman Gupta is the co-founder and CMO of India’s biggest wearable brand boAt. The company has taken not only the country but the whole world by storm with its affordable and good-quality audio ear-wear. The net worth of the shark Aman Gupta is approximately $87 million.
boAt has captured the Indian electronic gadgets market brilliantly. He co-founded boAt in the year 2016 and has transformed the company into one of the biggest audio brands since then. He has invested in various startups on the show likeNuutjob, Altor, Revamp Moto, Ariro,etc. Aman Gupta received more than INR 9 lakh per episode in season 2.
Namita Thapar is a businesswoman who is leading the pharmaceutical industry with Emcure Pharmaceuticals. It is a multinational pharma company founded in the year 1983 and Thapar is currently the CEO of the company. She has invested in various startups on the show likeBrainwired, Sunfox Technologies, Kabaddi Adda, Sneakare, etc. Namita Thapar charged approximatelyINR 8 lakh per episode.
Peyush Bansal made his name by launching India’s biggest eyewear retail chain Lenskart. It was founded in the year 2010 and has been increasing the bar simultaneously. The current value of the company is $5.6 billion. The eyewear industry in India has revolutionized because of Lenskart and has been turning heads worldwide. He has invested in various startups on the show likeLoka, Hair Originals, Isak Fragrances, etc. Peyush Bansal got INR 7 lakh per episode. The net worth of Peyush Bansal stands at $72 million (approx).
Azhar Iqubal is the co-founder and Chairman of the well-known news aggregation app, Inshorts. He is a dropout from the Indian Institute of Technology (IIT). With Deepit Purkayastha and Anunay Arunav, he founded Inshorts as a Facebook page, which was introduced in 2013. The Inshorts app is currently worth around $550 million. Azhar was a new addition to Shark Tank India season 3 and will continue as a shark in season 4.
Vineeta Singh is an entrepreneur who proves that following your dreams with courage is what you need. She is the CEO and Co-Founder of Sugar Cosmetics, one of the largest Indian brands of cosmetics that is growing at an intense speed. She is an Alumni of IIT Madras and IIM Ahmedabad, the amazing part is she rejected a INR 1 crore job offer to follow her dream of running her own company.
Sugar was founded in the year 2012 and is a cruelty-free makeup brand that has captured the heart of the Indian audience. The current value of Sugar Cosmetics is $700 million (approx). She has invested in various startups on the show like Booz, Humpy Farms, Wakao Foods, etc. Vineeta Singh charged INR 5 lakh per episode.
Anupam Mittal is another popular shark in the business reality show. He is the founder and CEO of Shaadi.com and Makaan.com and is said to be one of the top angel investors in the country. The net worth of Anupam Mittal stands at $21.81 million. After graduating from Boston College, Mittal founded Shaadi.com in the year 1997 as Sagaai.com and changed its name in 2001. The total number of users of Shaadi.com in 2023 is estimated to be 35 million.
He has also invested in startups like OLA. In Shark Tank, he has invested in various startups on the show likeLysto, VivaLyf, Bamboo India, Tweek Labs, etc.Anupam Mittal received more than INR 7 Lakh per episode.
Ghazal Alagh founded one of the most popular personal products brands, Mamaearth, in the year 2016. The brand specializes in chemical-free baby-care products, and it now manufactures personal products for everyone. Mamaearth entered the Unicorn Club in the year 2022. The company launched its IPO on November 7, 2023. Ghazal Alagh got INR 8 lakh per episode. However, she discontinued the show after Shark Tank India season 1.
Radhika Gupta is a successful entrepreneur and investor. She was a new addition to the Shark Tank India season 3 judging panel. She has been the Managing Director and CEO of Edelweiss Mutual Fund since 2017, and she has helped the company expand to become one of India’s top mutual fund houses. Under Gupta’s leadership, Edelweiss Mutual Fund has grown into a leading player in the Indian mutual fund industry. The company has launched a number of innovative products and services and has consistently outperformed the benchmark indices. The net worth of Radhika Gupta is Rs 41 Crores.
Edelweiss Mutual Fund has total assets under management (AUM) of Rs 1,64,554 crores. It manages 399 schemes, including 26 Equity schemes, 16 Debt schemes, 4 Hybrid schemes, and 2 Money Market schemes.
Varun Dua is an Indian entrepreneur and the founder of Acko, an insurance technology (insurtech) startup that provides digital insurance solutions for individuals and businesses. He is recognized as a pioneer in the Indian insurtech space and has been credited with transforming the insurance industry through innovative technology and customer-centric approaches. The valuation of Acko Insurance is $1.4 billion.
Varun Dua was introduced as a new judge to the Shark Tank India season 3 panel. Dua’s entrepreneurial acumen and his commitment to innovation have earned him recognition as a leading figure in the Indian startup ecosystem. He has been featured in Forbes’ 30 Under 30 India list and has received numerous awards for his contributions to the insurance industry.
Kunal Bahl is an Indian entrepreneur known for co-founding Snapdeal, a leading e-commerce platform, and Titan Capital, a prominent venture capital firm. Bahl has significantly impacted the Indian startup ecosystem by investing in companies like Ola and Mamaearth. He also holds key positions in organizations such as NASSCOM and the National Startup Advisory Council, showcasing his influence in India’s business landscape. Kunal Bahl is the newest shark on Shark Tank India season 4.
Kunal has received various prestigious awards including Ernst & Young Entrepreneur of the Year (Startup), Fortune Global 40 under 40, and The Economic Times Entrepreneur of the Year, among others.
Viraj Bahl is the Founder and Managing Director of Veeba (VRB Consumer Products Pvt. Ltd.), a leading consumer food brand. He has joined the cast of Shark Tank India Season 4. Viraj is known for his deep understanding of the food industry. He is excited to share his knowledge and mentor entrepreneurs with great, scalable ideas.
His experience in building a successful business will help guide those looking for investments and advice. Viraj has studied Industrial Marine Engineering at Singapore Polytechnic.
Mohit Yadav is the Co-Founder of Minimalist, a popular skincare and haircare brand known for its clean, transparent, and science-backed formulations. He has joined the cast of Shark Tank India Season 5. Mohit is recognised for his deep understanding of the beauty and consumer products industry and his commitment to honest, research-based innovation.
His entrepreneurial journey spans ventures like Freewill and Oto.com, and senior roles at CarDekho, Deloitte, and Credit Suisse. Mohit is a qualified Chartered Accountant, holding an ACA in Finance and Accounts from The Institute of Chartered Accountants of India, where he was a gold medalist.
His experience in scaling successful businesses will help him guide and mentor budding entrepreneurs seeking both investment and strategic insight.
Srikanth Bolla
Name
Srikanth Bolla
Company
Bollant Industries
Net Worth
–
Srikanth Bolla – Shark Tank India Judges
Srikanth Bolla is the Founder and Chairman of Bollant Industries, a company based in Hyderabad. It makes eco-friendly and biodegradable packaging products. He has joined the cast of Shark Tank India Season 4. Srikanth is known for supporting people with disabilities and building a business that helps the environment.
Born blind, Srikanth faced many challenges but stayed determined. He studied Management Science at the Sloan School of Management, Massachusetts Institute of Technology (MIT), and was the first visually impaired student in that course.
Srikanth is excited and all set to guide new founders and support business ideas that are both smart and socially responsible.
Vikas D Nahar is an Indian businessman who has made a name for himself in the healthy food industry. He is the founder of Happilo International, a company that specializes in offering high-quality dried fruits, nuts, seeds, dates, hampers, and more. Despite facing numerous rejections, Vikas persevered and successfully raised funds for Happilo, which has now become a well-known health food brand.
Nahar was the guest shark for the grand finale of Shark Tank India Season 2. A special “digital-only” episode on SonyLiv called “Gateway to Shark Tank India 2” aired, wherein aspiring business owners got the chance to interact with Vikas and other sharks and pitch their ideas to them.
Conclusion
Shark Tank created a huge buzz in the country and has become a very popular business reality show in India. Various entrepreneurs from different parts of the country came here to showcase their innovative business plans in front of the sharks in the hope of getting investments for their companies. The Shark Tank India judges provided investments to their preferred business ideas and gave them a chance to flourish with their ideas. Season three of this show is anticipated to be bigger, with quality judges and creative business ideas.
FAQs
Who is the richest shark in Shark Tank India?
The richest sharks on Shark Tank India include Ritesh Agarwal, Ronnie Screwvala, Amit Jain, Aman Gupta, Anupam Mittal, and more.
Who were the newly added Sharks in Shark Tank India Season 3?
Ritesh Agarwal (Founder of OYO Rooms), Deepinder Goyal (Co-founder of Zomato), Azhar Iqubal (Co-founder of Inshorts), Radhika Gupta (CEO of Edelweiss Mutual Fund), Varun Dua (Founder of Acko), and Ronnie Screwvala (Co-founder of UpGrad) were the newly added sharks.
How much do Shark Tank India judges earn per episode?
The sharks earn between INR 5-10 lakhs per episode, with varying rates depending on their profile and involvement.
Will Deepinder Goyal return to Shark Tank India season 4?
Deepinder Goyal is not part of Shark Tank India season 4. While rumours suggested his exit was due to Swiggy’s sponsorship, the show’s makers clarified that his absence was due to scheduling conflicts, and they would be happy to have him on future seasons.
Is there a Billionaire in Shark Tank India?
Deepinder Goyal, the founder of Zomato, has a net worth of $1.7 billion, and Ronnie Screwvala, with a net worth of $1.53 billion, has been among the billionaires featured on Shark Tank India in previous seasons.
What is Aman Gupta net worth?
The net worth of Aman Gupta is $93 million (INR 720 Crores).
What is Anupam Mittal net worth?
The net worth of Anupam Mittal is $21.8 million (INR 185 Crores).
Who is the newest shark in Shark Tank India season 4?
Kunal Bahl, co-founder of Snapdeal and Titan Capital, and Viraj Bahl, Founder and Managing Director of Veeba, have joined the panel of judges on Shark Tank India Season 4. In March 2025, Srikanth Bolla, Founder and Chairman of Bollant Industries, also joined the judges’ panel.
Surobhi Das, former Chief Operating Officer (COO) of Zomato, has teamed up with Deepinder Goyal, the CEO of Zomato, to launch LAT Aerospace, a new aerospace startup. Goyal has invested a million into the venture and will serve as a non-executive co-founder, while Das will oversee daily operations.
LAT Aerospace aims to develop low-cost, short takeoff and landing (STOL) aircraft with up to 24 seats. These aircraft are designed to improve regional air connectivity by operating from small airstrips, thus reducing the need for extensive airport infrastructure.
The startup is currently in stealth mode and is in discussions to raise an additional million in seed funding. They are actively recruiting engineers with expertise in aerodynamics, material sciences, and hybrid propulsion systems to bring their vision to fruition.
How STOL Aircraft Can Transform Regional Air Travel
STOL aircraft are distinct from traditional air taxis. They are smaller planes that require shorter runway lengths, making them suitable for regional travel. This design allows them to operate from compact ‘air-stops’ that are no bigger than a parking lot, eliminating the need for complex airport infrastructure.
The development of STOL aircraft could revolutionise regional air connectivity. These planes can take off and land on shorter runways, allowing them to serve remote or underserved regions. This capability could lead to increased economic activity in these areas by improving access to markets and resources.
LAT Aerospace’s Vision and Future Prospects
LAT Aerospace aims to improve regional air travel with small, fuel-efficient aircraft. The company is bringing in specialists in aerodynamics, materials, and propulsion to develop planes that can operate on short runways.
By building lightweight and cost-effective aircraft, the startup plans to reduce travel expenses and make air connectivity more viable in areas with limited airport infrastructure. Though still in its early stages, LAT Aerospace has the potential to reshape regional aviation in India.
If successful, its STOL aircraft could set new benchmarks for regional air travel, influencing future aircraft design and operations.
Conclusion
Surobhi Das and Deepinder Goyal’s decision to launch LAT Aerospace marks a major move from food delivery to aviation. Their focus on affordable STOL aircraft could improve regional connectivity in India. With strong financial backing and a clear strategy, LAT Aerospace is set to play a key role in shaping the future of air travel.
