To begin the journey on the path to success, an entrepreneur steps in with a unique idea. An idea can make a huge difference but the steps after that idea create or breaks the business. The demand or desire to attain something is always the prime task. Open mind, and being patient, and the skill to enhance it from the stage of failure are the major attributes to keep in consideration. An entrepreneur can never predict the results of an idea.
Food is a prime necessity for many people. It comes under the category of the basic need of any human being. But the need for food is aroused when someone feels the hunger for the same. During the peak hours of hunger, the constant eye on the menu to decide what to order from the menu card is also a big matter of problem. Deepinder Goyal and Pankaj Chaddah came in front with the absolute solution to the problem of waiting in a long queue for food. That was the time when Zomato came into its existence.
How was Zomato founded?
The story of Zomato started in the organization of Bain & Company in Delhi. Deepinder and Pankaj worked constantly on this title when they innovated this concept. They saw people standing in a line and were booking their orders on their turn. From that moment they got the idea of “Foodiebay” which hit the opening of Zomato.
At their primary stage, they began scanning all the menu objects of the restaurant and registered them on their intranet website Foodiebay.com. After analyzing the vast flow in their traffic, they decided to release their website open to the public.
Funds raised by Zomato
This idea of Deepinder’s and Pankaj’s attracted Sanjeev Bikhchandani who is the creator of Naukri.com. Sanjeev Bikhchandani offered Zomato funding of 1 million USD in December 2010 through his corporation Info Edge India and from here on.
In the next funding round they received was once again from Info Edge India and this time it was 3.5 million USD and again in the year 2013, Zomato received an astounding 10 million USD from Info Edge India which made Info Edge India an owner of almost 50% of the shares in the start-up. From the list of stockholders of Zomato, some are Sequoia Capital, VY Capital, and Temasek. The funds just kept arriving after this. By the end of 2018, it is estimated that Zomato would’ve received funding of more than 300 million USD.