In a recent fireside chat at the Economic Times Startup Awards (ETSA), Zomato co-founder and CEO, Deepinder Goyal, shed light on the company’s journey, challenges, and his evolving role within the organization.
From listing at $7.6 billion to hitting a remarkable $29-billion market cap, Zomato’s trajectory has been nothing short of remarkable.
Here we understand how Deepinder has steered the ship and what it means for him to mainly wear the “HR guy’s” hat these days.
Zomato IPO Highs and Complacency
Deepinder acknowledged that after Zomato’s successful IPO, complacency crept in among competent team members. They had made substantial gains, but the danger lay in becoming stagnant.
Competent people, he noted, often fail to recognize their own complacency. They fill time rather than seeking progress, inadvertently stalling the organization’s momentum.
To address this, Deepinder took decisive action: he cleared out those who had lost their drive and rebooted the company.
CEO’s HR Guy Role at Zomato
Deepinder primarily plays the role of the “HR guy.” Zomato’s team is competent and prudent, fostering a high-trust environment.
Rather than stepping on each other’s toes, team members collaborate, seeking help and input when needed. It’s a refreshing departure from the siloed approach that can plague larger organizations.
Deepinder’s hands-on involvement ensures that the company’s human resources are well-managed and aligned with its vision.
His lowest moments as a founder aren’t necessarily tied to financial crises. Instead, they occur when trusted individuals fail to show up. These personal lows cut deeper than business challenges.
Trust, after all, is the bedrock of any successful venture. When it wavers, even momentarily, it can shake the very core of an organization.
Deepinder’s vulnerability lies in those moments when he, too, falls short of expectations, failing to show up for others.
The Swiggy Challenge
Zomato faced an insurmountable point when rival Swiggy raised a staggering $1 billion. At that juncture, Zomato had only $35 million in the bank.
The odds seemed stacked against them. But adversity often sparks resilience. Zomato rallied, strategized, and found ways to compete.
It’s a testament to Deepinder’s leadership that the company not only survived but thrived, proving that determination and adaptability can overcome seemingly impossible odds.
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