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Founder and CEO of Zomato Deepinder Goyal warned fellow startup founders that existing business models will become obsolete within a decade or two which is why there is a need to rapidly adapt to the situation and forthcoming changes as well.
Zomato CEO Deepinder Goyal talked about the challenges that companies face. He said, “With all the tech and distribution systems that are changing, no business model will last beyond a decade or two. Startups will have to innovate and create new businesses out of the outcomes that they have created so far if they have to last longer."
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Read more: Zomato CEO Deepinder Goyal thinks this is a bad reason to start a company: 'I don't think that works at all'
Zomato CEO on challenges that businesses face
Talking about the challenges that companies face, he emphasized that it is important for businesses to disrupt processes continually. He said, “For Zomato, it is all about how we disrupt our own businesses. Zomato is already at version four in its 16-year journey."
Zomato CEO on Blinkit's growth
Read more: Grecia Munoz cheers on as husband Deepinder Goyal gets entrepreneur award. See pic
Deepinder Goyal also said that Zomato’s quick commerce venture Blinkit could surpass its flagship food delivery service in the near future. Zomato acquired Blinkit in a deal worth ₹4,447 crore in 2022.
Zomato's Pure Veg service backlash
Read more: Deepinder Goyal on what happened after backlash on Zomato's 'Pure Veg' feature: 'Was on Zoom call for 20 hours'
The company also faced criticism recently over its decision to introduce a “Pure Veg Mode” service which resulted in a rollback of certain initiatives as customers raised concerns on social media related to segregation of riders based on uniform colors.
Making a u-turn, Zomato CEO said, “While we are going to continue to have a fleet for vegetarians, we have decided to remove the on-ground segregation of this fleet on the ground using the colour green. All our riders — both our regular fleet, and our fleet for vegetarians, will wear the colour red."
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