India’s pioneering foodtech unicorn Zomato has seen many peaks and troughs in its journey. While there were some illustrious moments and accomplishments, there were troubled times too, some that even brought the very existence of the company into question.
During the massive layoffs and losses of 2015, chances of Zomato’s survival seemed slim. In a belt tightening move, the company laid off about 300 employees — nearly 10% of its total headcount — to cut costs in its weaker business aspects and shift the focus to more revenue-generating areas like reservations.
However, in Zomato’s decade of existence, this was the biggest rough spot the company actually ever hit. The rest of the time, founder and CEO Deepinder Goyal and cofounder Pankaj Chaddah (who left Zomato in 2018) steadfastly held on to the reins of the company and kept it on the path of growth and expansion, making it India’s first foodtech unicorn.
While Zomato competes with Swiggy, UberEats and Ola-Foodpanda among others, the company still continues to innovate offerings and expand in the manner it has been doing since the day it all started.