Zomato, an online food ordering and restaurant finding platform, started off as just an idea. An IIT Delhi student, Deepinder Goyal was always on the lookout for new places to eat. What started off as a collection of menus from a small list of restaurants has today grown into a massive conglomerate which is available for people to use in 24 countries! Officially launched in July 2008 with only 1,200 menus, Zomato as a business grew so quickly, it had more than 2,000 menus on its database by the end of 2008! Co Founded by Deepinder Goyal and Pankaj Chaddha, the journey of Zomato has been a dream story. Through the years, Zomato has grown by leaps and bounds and today, it is only fitting that we take a look at its growth over the years!
Always keep strategizing
When Deepinder Goyal started Zomato, he had a single aim in life: to provide people a common platform where they could look for restaurants. When the idea took off so quickly and instantly, Deepinder realised he had to streamline the process of how he was collecting data about restaurants. The more Zomato started getting accepted, the more Goyal streamlined the process. His business model was simple. Every time Zomato starts operating in a new city, a single person is assigned for collecting data about the most popular and accessible restaurants and clubs in the area. The data is then sent to a centralised team in Delhi. The Company is divided in a way that every team has a specific job to do. With advertisements on the website acting as the revenue format for Zomato, Goyal created a model which not only ensures a revenue share system, but also in branding the restaurants partnering with the platform! In short, he created a win win situation for the partners as well as his Company.
Soon after Goyal entered the food tech industry, he realised, in order to stay on top and not just stay afloat, he had to keep expanding his business. Right from the moment it launched, Goyal has been expanding his baby with every move he makes. Apart from launching the Zomato Gold and the Zomato PickUp app, Zomato has expanded into other areas of business as well.
One of the things which makes Zomato stand out from the other food tech startups is its ability to expand into areas its competitors did not. Furthermore, focusing on extremely high quality products, Zomato ensured people look at its quality first and then everything else. The year 2014 saw Zomato acquire not one, but 4 acquisitions of various food tech startups. Six months later, the Company started expanding to places outside India (Sweden, Denmark and Germany, to name a few!) It is important to note here, one of the reasons Zomato grew so much is, it always studies its competition and stays one step ahead, no matter what.
A Trust In His Employees
One of the primary reasons Deepinder Goyal grew Zomato to this point of success is because of the amount of trust and faith he places in his employees. An underlying growth factor for Zomato is, not only does it gives its customers the best, it also instills confidence in the employees on its roster. If you look at the track record of all the employees on the Zomato roster, one can see that people work up to 12 hours a day without complaining or making a fuss. In fact, even if you offer the top people twice or thrice the amount of money they earn, no one will leave. Why? Simply because Deepinder instilled a trust factor into his employees and gave them growth like no one else did. If this is not a display of undying faith in Zomato, then what is?
In a span of 11 years, Zomato has grown from being merely an idea to being valued at over $ 1 billion. Securing investments from more than a series of interesting investors, Zomato is, today, one of the most used and visited food tech platforms. Running neck to neck with Swiggy, its primary competitor, Zomato more than proved its worth as a force of nature!
Sundar Pichai To Lead Alphabet Inc As New CEO
Sundar Pichai is all set to lead Alphabet Inc., the multinational conglomerate parent company of Google. Pichai was the Chief Executive Officer (CEO) of Google since 2015 and now, he will also lead Alphabet Inc.
On the 3rd of December, Larry Page, the co founder of Alphabet Inc., stepped down as the CEO handing over the position to Sundar Pichai. Alphabet, which emerged in 2015 as a result of restructuring of Google, currently owns more than 12 companies, including Waymo, Malta, Makani, X Development, Calico, the healthcare software company Verily and others.
Larry Page and Sergey Brin, the co founders of Google, wrote a blog post speaking about their decision of moving out of the company, instating Sundar Pichai the CEO of Alphabet.
Larry Page showed his confidence in Sundar Pichai, who has been leading Google as the CEO since 2015. Page said, “We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet (sic.)”
Though Larry Page and Sergey Brin resigned from their respective posts of CEO and President, they would still remain on the Board of Directors of the Company.
Born and brought up in a middle class family in Madurai, Tamil Nadu, Sundar Pichai completed his education from IIT Kharagpur and Stanford University. Later, in 2004, Pichai joined Google marking the starting point of his successful career. Sundar Pichai gained success after creating and executing the Google Chrome project, which is now the world’s most used web browser.
In the letter, Larry Page and Sergey Brin addressed Sundar Pichai praising his efforts, abilities and contribution to Google. “Sundar brings humility and a deep passion for technology to our users, partners and our employees every day,” they added.
The cofounders also mentioned Pichai worked for the growth and development of Google and Alphabet for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors.. They are confident Pichai would lead Google and Alphabet with great passion.
Speaking about the blog and the role, Sundar Pichai tweeted
I’m excited about Alphabet’s long term focus on tackling big challenges through technology. Thanks to Larry & Sergey, we have a timeless mission, enduring values and a culture of collaboration & exploration – a strong foundation we’ll continue to build on https://t.co/tSVsaj4FsR
— Sundar Pichai (@sundarpichai) December 4, 2019
Twitter users congratulated Sundar Pichai for becoming the CEO of Alphabet Inc. Hours after the big announcement, the shares of Alphabet Inc., rose by 0.64 % to 1,303 dollars.
From a small company in 1998 working out of a dorm room and a garage to a multinational conglomerate, the journey of Google and Alphabet has been incredible. Watch the biography of Larry Page on our YouTube Channel
Wharton Graduate Eric Tse Becomes Billionaire At 24
Eric Tse, a Wharton graduate, was gifted $ 3.8 billion by his parents in the form of 2.7 billion shares of his parents’ company, Sino Biopharmaceutical Limited.
It was also reported along with the gift, Eric Tse was also promoted to the position of executive director at Sino Biopharmaceutical, after working at the Company for 1 year. As the executive director, Eric Tse will have a salary of $ 498,000 annually plus bonuses.
Now, Forbes lists Eric Tse as the 546th richest person in the world. Moreover, Bloomberg also reported the shares transferred to Eric Tse are equivalent to 21.45 % of the Company’s share capital.
Tse Ping, Eric’s father, founded the billion dollar company Sino Biopharmaceutical in 2000 and serves as the CEO of the Company. Cheung Ling Cheng, Eric Tse’s mother, also serves as the Vice Chairperson of Sino Biopharmaceutical. Theresa, Eric’s older sister, who is currently the Company’s Chairperson, owns 11 % of the Company.
According to a statement released by Sino Biopharmaceutical, the shares were transferred to Eric Tse in an effort to refine the management of the Company and the inheritance of the family wealth. The statement also added the board of directors believe the transfer of shares will not have any material impact on the business operations of the Company.
Eric Tse, who majored in Finance at the Wharton School of the University of Pennsylvania, was also the co founder of the Penn Wharton China Summit. The non profit organisation grew to become America’s largest student organized summit in China.
Despite the sudden increase in wealth, Tse expressed his wish of not wanting to participate in wealth ranking.
Huawei Unknown Facts
Huawei is the world’s largest manufacturer of telecommunication equipment. The Company was founded in 1987 by the 42 year old Ren Zhengfei. Considered one of the world’s largest technology brands, Huawei was valued at $ 105.1 billion in 2018. Here are a few unknown facts about this tech company.
Unknown facts about Huawei
1) Founder Ren Zhengfei came up with the name Huawei after coming across the phrase ‘Zhonghua youwei,’ which meant ‘China has promise.’
2) The name Huawei can be quite difficult for non Chinese people to pronounce. Huawei is pronounced as ‘Waa wai,’ but Huawei’s pronunciation varies by countries. This led the Company to launch a name recognition campaign, where they used “Wow way” to encourage a pronunciation closer to the actual one.
3) Huawei puts more focus on Research and Development (R and D,) with more than 40 % of the Company’s employees working in the R and D department.
4) Huawei’s Ox Horn Campus is famous for its European style architecture. Based in Guangdong, the R and D campus consists of 12 small ‘towns,’ modeled after famous European cities like Paris, Granada and Bruges. The research buildings of every ‘town’ are a replica of popular castles, palaces and many more.
5) Huawei’s 5G tech played a big part in the world’s first remote brain surgery. Dr. Ling Zhipei performed the brain surgery on a patient suffering from Parkinson’s disease. The surgeon operated on the patient, who was 3,000 km away from him, by manipulating surgical instruments with the help of a computer and 5G network. After the success, Dr. Zhipei credited Huawei’s 5G technology for ensuring a nearly real time operation.
6) In the tech industry, Apple is considered a direct rival of Huawei. However, this rivalry did not stop Huawei founder and CEO Ren Zhengfei from using Apple products. Zhengfei considers Apple’s iPhone the best phone in the world and revealed his family prefers Apple’s products over Huawei’s.
Did you find any of these unknown facts interesting? Comment below and let us know.
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