Zomato: ET Startup Awards | Quick commerce growing at the expense of ecommerce, modern retail: Zomato’s Deepinder Goyal

Zomato was a late enterant to the quick commerce business, Zomato founder and CEO Deepinder Goyal said in a fireside chat with ETtech editor Samidha Sharma. Goyal said that the exponential growth of quick commerce has come as a surprise for all. “I didn’t think it would grow so much,” he added.

On the regulatory scrutiny, the Zomato CEO said that quick commerce is not eating into the market share of kiranas. “Blinkit is not even affecting companies like Dmart. We are more or less eating into the share of ecommerce players like Amazon and Flipkart, as well as modern retail,” he added.

Quick commerce is also increasing consumption, Goyal said.

On top deck rejig
Goyal said that post-IPO, a lot of competent people didn’t realise that they are being complacent. “A lot of senior Zomato people became complacent, stopped seeking progress. There was no work happening in the organisation for a while. I had to clear out a lot of people to bring us back on track,” he added.

Being a publicly listed company

According to Goyal, companies are going public because the market is hot, not necessarily because they are ready. “If you’re public, the only way to sleep peacefully at night is if you are absolutely transparent with whatever is going on,” he added.

Rival Swiggy’s IPO
Asked about Swiggy’s upcoming IPO, Goyal said, “I genuinely don’t know, and we don’t even think about it. We’ll see what happens.”