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!
Louis Vuitton Unknown Facts
Founded in 1854, the French fashion powerhouse Louis Vuitton rose to become the world’s most valuable luxury brand. Known for never having any of its product on sale, it is one of the most counterfeited brands in the world.
With its CEO Bernard Arnauld being declared world’s second richest man with a net worth of $ 108 billion, let’s look at some unknown facts about Louis Vuitton.
Unknown facts about Louis Vuitton
1) The founder of the luxury brand, Louis Vuitton, was the personal box maker and packer of Napoleon Bonaparte’s wife Empress Eugénie de Montijo.
2) The famous monogram of Louis Vuitton was created to fight counterfeit ones and served as inspiration for surreal artist Salvador Dali’s La Toile Daligram.
3) The most famous creation by the brand, Speedy, was originally launched as a travel case. It got its popularity after American icon Audrey Hepburn requested Vuitton to make a custom mini Speedy for her.
4) Mikhail Gorbachev, the last president of the U.S.S.R., once posed for a Louis Vuitton ad campaign.
5) American rapper Kanye West has mentioned Louis Vuitton more than 19 times in his songs.
6) Known for creating luxury bags and accessories, Louis Vuitton once created a collection of luxury pens. It also sells scrapbooks for people with extravagant taste.
7) The bags and jewellery of Louis Vuitton go through an intense durability test before being released to the public. Louis Vuitton bags are subjected to UV rays in an effort to increase the bags’ resistance to fading.
8) After every season, the unsold Louis Vuitton products are sent back to its factory in France and are shredded or burnt, in order to maintain the item’s value.
Considered one of the top luxury brands in the world, Louis Vuitton currently has a brand value of $ 47.2 billion.
Comment and let us know which of these facts impressed you the most.
Rupert Murdoch Unknown Facts
Rupert Murdoch is an Australian born businessman and the founder of News Corp, who turned media into a lucrative business empire. With holdings in The Wall Street Journal, HarperCollins, Fox News and 20th Century Fox, Murdoch is one of the richest people in the world. Here are some unknown facts about the media mogul who is considered the inventor of the modern tabloid.
Unknown facts about Rupert Murdoch
1. As an ambitious 7 year old, Rupert Murdoch would hunt water rats for their skin and manure, which he would then sell for sixpence in his town. He would use his earnings to gamble in school.
2. Murdoch was an excellent cricket player and led his school’s cricket team to National junior finals.
3. His journalism career began with the Adelaide News, which he took over after the death of his father at the age of 22. Rupert Murdoch transformed the failing business into a successful newspaper.
4. He once counter bid for a New Zealand local newspaper, The Dominion, at the spur of the moment during a vacation and ended up winning the bid.
5. He was once declared dead by his own newspaper, The Sun, after digital vigilante groups Anonymous and LulzSec hacked into the newspaper website and published an article, claiming Murdoch died because of drug overdose.
6. He has appeared in two episodes of the hit series The Simpsons and his entrance line was “I’m Rupert Murdoch, the billionaire tyrant, and this is my skybox.”
7. Murdoch has a bad intuition towards social media, which was proven when Myspace, which Murdoch bought for $ 580 million, had to be sold due to its poor performance. He also passed a chance to buy Twitter and warned investors against investing in it.
8. He was awarded a papal honour award, Knight Commander of the Order of Saint Gregory the Great, by John Paul II in January 1998.
9. He once launched world’s first iPad only daily newspaper app, named The Daily. Murdoch invested $ 30 million in building the app. The app eventually shut down as the company started losing money after the launch.
10. He was inducted into the TV Hall of Fame in 2014 for launching Fox Broadcasting Company and changing the television landscape with shows like The Simpsons and The X-Files.
With a career spanning almost 6 decades, Rupert Murdoch saw many failures and controversies, but overcame them all and is now worth $ 21.9 billion.
Women Scientists Turned Entrepreneurs
There are hundreds of innovations and discoveries born in the field of science and engineering every year in universities around the world. However, only a few of them are able to make it into commercial ventures. Today, we will be looking into women who turned their groundbreaking research into successful businesses.
1) Nina Tandon
Nina Tandon is a biomedical engineer and co founded the company Epibone. The main aim of the Company is to develop technology to develop bone reconstruction solution through stem cells. The Company creates bone tissues from a patient’s stem cells and grows them in vitro for use in bone grafts. Tandon serves as the CEO of Epibone and is also an adjunct professor of electrical engineering at the Cooper Union in New York. Tandon was named a TED Fellow in 2011 and a senior TED Fellow in 2012. In 2013, she received an award at the Marie Claire’s Women on Top Awards.
2) Anuradha Acharya
Anuradha Acharya is the founder and CEO of Mapmygenome, a company which focuses on preventive healthcare options through genome sequencing. She also founded another company called Ocimum Biosolutions, a genomics outsourcing company for discovery, development and diagnostics. In 2015, Mapmygenome made news for raising funds worth $ 1.1 million from a group of investors. Acharya was awarded the Entrepreneur of the Year award by the magazine Biospectrum in 2008. Her name was included in the 2018 W-power trailblazers by Forbes.
3) Sinead O’Sullivan
An aerospace engineer, Sinead O’Sullivan specialises in space technology and is currently the CEO of Avioptix, a company which captures, stores and analyzes real time data from satellites, drones and ground robotics. Her Company created the first ever platform to crowdsource drone data. Avioptix tailors their insights to the needs of their clients, supporting agriculture, oil and gas, insurance and NGOs.
4) Rana el Kaliouby
Rana el Kaliouby is a computer scientist and the co founder and CEO of Affectivia. Affectivia is an emotion measurement technology company which develops software to recognize human emotions based on facial expressions and physiological responses. As a research scientist at MIT, her initial focus was on ways to improve human-computer interaction, but she quickly realised the possibility of using the technology to improve human to human interaction, especially for those affected by autism. She was inducted into the Women in Engineering Hall of Fame and was mentioned in Forbes’ America’s Top 50 Women in Tech 2018.
These women serve as perfect examples and inspiration for women working in the STEM field to grow their research into a business empire. If we missed mentioning any such women scientists who turned into entrepreneurs, comment and let us know.
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