Rs 20000000000 earned in just 2 days! Blinkit makes Deepinder Goyal even richer by..., beats BIG companies like Wipro, Tata Motors, others
Deepinder Goyal, one of India's modern business icons, is once again in the news. His company, Eternal, has seen a big jump in its share price and the reason behind this sudden rise is its quick commerce business, Blinkit. Because of this sharp rally, Goyal's personal wealth has gone up by nearly Rs. 2,000 crore in just two days.
In the last two trading sessions, Eternal's shares have increased by over 21 per cent. On the NSE, the stock even hit an all-time high of Rs. 311.60. This strong performance has pushed Eternal's market value beyond Rs. 3 lakh crore, making it more valuable than big names like Wipro, Tata Motors, Nestlé, and Asian Paints. Deepinder Goyal's net worth crosses Rs. 11,500 crore
Deepinder Goyal, who is 42 years old, owns 3.83 per cent of Eternal. Thanks to the rise in the share price, his total wealth has now crossed Rs. 11,515 crore. According to Forbes, his net worth is now about USD 1.9 billion, placing him among the fastest-growing entrepreneurs in India. The rise in Eternal's share price
The rise in Eternal's share price is not random as the biggest reason behind it is the growth of its quick delivery business, Blinkit. According to reports, Blinkit's net order value (NOV) has now become bigger than Zomato's food delivery business.
Eternal's success is also helping its competitors and investors. For example, Swiggy's shares jumped 7 per cent in a single day. Info Edge, which owns 12.38 per cent of Eternal, saw its stock price rise by more than 3 per cent.
Now, Eternal is planning to open 3,000 Blinkit stores in the future, though the exact time of the plan has not been revealed yet. Who is Deepinder Goyal and how did he start Zomato?
Deepinder Goyal is the co-founder and CEO of Zomato. He started the company in 2008 along with his friend Pankaj Chaddah. At first, the website was called Foodiebay. It simply showed menus of different restaurants. The idea came to him when he was working at Bain & Company. He noticed that people in his office often struggled to find restaurant menus during lunch. That's when he got the idea as to why not put all the menus of the restaurants in one platform?
Later in 2010, the company was renamed Zomato, and it slowly became a popular name in the food industry. What was Deepinder Goyal's early life and education like?
Deepinder Goyal was born on 26 January 1983 in a small village in Punjab. He did his schooling in Chandigarh. After that, from 2000 to 2005, he studied at IIT Delhi, where he earned a degree in Mathematics and Computing. After college, he got a job at Bain & Company, a global consulting firm. That's where his journey toward starting Zomato began. What services does Zomato offer today?
Today, Zomato offers many useful services in India and the UAE. It helps people order food online, book tables at restaurants, and read reviews written by other customers. In 2022, Zomato also bought Blinkit (which was earlier called Grofers). Blinkit delivers groceries and daily essentials in just 10 minutes.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
28 minutes ago
- Mint
Want "pin code-level granularity" in data - brands tell quick delivery firms
BENGALURU , NEW DELHI : Bengaluru/New Delhi: In India's fast-growing world of quick commerce, the real power lies not just in speedy deliveries and wholesome product portfolios, but in the data behind them. As major platforms expand private-label lines and monetize analytics, small consumer brands crib they are being shut out of critical insights on who's buying, where, and why. With limited visibility into customer behaviour, product performance, and advertisement effectiveness, these brands claim they are being priced out of planning and left behind in one of the country's most competitive new retail frontiers. From identifying best-selling products, timing of high demand, and deciding the right marketing budget, this data is crucial for brands to cut down unnecessary spending, improve operational efficiency, and keep up with cut-throat competition from brands. In the end, revenue preservation is the goal. This also signals the growing friction between sellers and marketplaces, as both try to build their own businesses with minimal expenditure and maximum output. Zepto and Blinkit have been doubling down on their private label efforts, with categories like staples, packaged food, and household items fetching higher margins. The founder of a Delhi-based kidswear brand, which sells baby accessories like feeding bottles and sippers through quick commerce channels in the top 5 cities, is worried that inadequate planning of inventory and pricing could seriously dent its revenues. 'On some of these quick commerce platforms, I can't see the distribution channels: where my ads are being shown, what kind of people are seeing them, how many are adding products to their cart, or proceeding to checkout," the founder said. A Delhi-based skincare brand founder concurs. 'Who is our customer? What's their age bracket? Within a city, which pockets are buying? That's the kind of insight we want. These platforms are sitting on pin code-level granularity." Quick commerce currently contributes about 5% to the company's revenue, but the share is growing fast. The firm expects the channel to account for 15-20% of its overall revenue in the next 18 months. 'On our D2C website, we track everything - conversion rates, drop-offs, repeat purchase percentages, and cohort behavior across months. If we could get similar insights from quick commerce, it would help us understand customer behaviour so much better," the founder added. To be sure, some platforms are making an attempt to share relevant information. In May, Zepto launched Atom, a paid analytics platform meant for providing access to relevant data points at a subscription fee. In an emailed response to Mint's queries, Zepto said it is already sharing anonymized, aggregated insights with over 100 partner brands through tools like Zepto Atom and Consumer Persona. 'Brands can now tap into real behavioural patterns like repeat purchase frequency, time-of-day affinities, category loyalties, and even cart correlations, all without compromising user privacy. These insights have helped brands optimize everything from product bundles to creative messaging and geo-targeted launches," Zepto said. Zepto Atom's pricing starts at around ₹30,000 per month, or 0.5% of the previous month's gross merchandise value (GMV), whichever is higher, and can go up to several lakhs depending on scale, said the D2C brands. Blinkit, on the other hand, charges listing fees (around ₹25,000 per product, typically credited to the brand's ad wallet) and generates revenue through commissions, ad placements, and user subscriptions like Blinkit Prime. 'Looking ahead… we're enabling brands to simulate buyer personas, run precision marketing experiments, and even validate new stock keeping units (SKUs) through city-specific sampling and surveys," Zepto added. Queries on the issue sent to Swiggy and Zomato did not elicit a response. The lookout for data and analytics comes at a time when brands are increasingly banking on quick commerce platforms for sales, with the channel accounting for the fastest growing one for many small as well as legacy brands. In the September quarter of FY25, Maggi-owner Nestle India saw 60% of its domestic e-commerce sales come from quick commerce. Nearly 7% of Mamaearth parent Honasa Consumer's business now comes from quick commerce and the firm expects its quick commerce market share to outperform that of e-commerce soon. 'We did the trial subscription (for the analytics), but don't plan to renew," said the founder of a Mumbai-based jewellery brand. 'For a growing brand, spending ₹30,000 to ₹2 lakh a month just to access data, we feel platforms should already be sharing is a big ask." 'It would make sense for us if most of our revenue came from quick commerce, or even just one specific platform," said the founder of the kidswear brand mentioned above, adding 'But right now, juggling three quick commerce platforms, along with e-commerce and logistics isn't the solution." Third parties to the rescue Brands are now seeking assistance from third-party analytics firms to help forecast demand to help plan their quick commerce actions better and reduce wastage. Startups like Inflexor Ventures-backed Clickpost, Info Edge Ventures-backed Gobblecube, and global analytics company Actowiz are at the forefront of providing revenue intelligence for brands active on quick commerce platforms, assisting them with demand forecasting and other data points like identifying best-selling products, shifting consumer preferences, fast-moving package sizes and pricing points, as well as improving ad performance. 'The information shared by marketplaces is limited and often delayed, as platforms require adequate data sets to be able to crunch it into relevant insights. We have enabled neighbourhood-level data that is so granular that brands can understand how their strategy should be shaped to suit geographical differences in demand and behaviour," said Naman Vijay, founder and chief executive of e-commerce intelligence platform Clickpost. Bengaluru-based Clickpost, which last raised $6 million from Inflexor Ventures, Athera Partners, and Riverwalk Holdings in April 2024, introduced a new feature called Prism last week, aimed at offering detailed quick commerce insights to brands at a dark store-level through API integrations with quick commerce platforms. Consumer behaviour on quick commerce often varies with regions, with different states and cities showing affinity to different brands, product sizes, and even time of purchase. 'Dark store-level data is too nuanced for brands to figure out themselves," Vijay added. Gobblecube, which raised $3.5 million from Info Edge Ventures and Kae Capital earlier this month, believes consumer brands often struggle with making sense of basic data that is crucial for decision-making. 'Quick commerce has unleashed an impressive amount of growth for small direct-to-consumer brands. However, true value lies in knowing the consumer well which is best done through real-time data," said Gobblecube's co-founder and chief executive Manas Gupta. The shift comes at a pivotal time for the quick commerce industry that is expected to triple in size by 2027, reaching ₹1.5-1.7 lakh crore, as per estimates by Kearney. The trade channel has expanded beyond being an impulse purchase mode, with 93% of sales coming at the expense of modern trade, e-commerce and kirana stores. 'Data isn't just for measuring performance. It's essential for planning, predicting demand, and connecting with customers. If brands don't know which products are selling quickly, where demand is growing, or how often items run out of stock, they're working in the dark. In today's fast-paced market, having the right data at the right time is crucial for keeping stock levels accurate, running effective marketing, and protecting sales," said Nitin Jain, managing director at consulting company Protiviti India Member that is part of Proviti's global network. The tiff between sellers and marketplaces in Indian e-commerce is not new. Several restaurants that joined food delivery platforms Swiggy and Zomato in its early days often complained about protective data sharing practices. In January, the National Restaurants Association of India (NRAI) criticized the aggregators' move to unfairly use customer demand data to model their private label offerings, thereby giving them an unfair advantage over restaurants. 'They have all our data, and they don't share it with us. They know exactly who our customers are, while we face consumer masking. They can easily divert traffic to their apps and sell similar products, like samosas or momos, under their private labels," NRAI president Sagar Daryani had told CNBC-TV18 channel earlier this year. Another personal care brand founder noted that inventory management is tough, especially with details of product movement generally under wraps. 'I don't have control over which part of Mumbai, Delhi, or Bengaluru my products are being sold in. That's a big limitation, because visibility without control limits strategy," the founder said. According to Proviti's Jain, as quick commerce grows, it is becoming more obvious that better teamwork between platforms and sellers is needed. 'Right now, many platforms keep their data closed off, which limits how efficient the whole industry can be." Naturally, the demand for revenue intelligence is picking up. Gobblecube currently helps break down data that is available to brands through platforms, however, it intends to expand its operations by enabling API integrations with platforms soon. 'The ecosystem is evolving rapidly. As the industry grows, hyperlocal behaviour can be understood better, resulting in efficient operations and better planning," said Gobblecube's Gupta. Proviti's Jain noted that setting up dedicated teams just for quick commerce is also becoming more prevalent. 'We're also seeing brands start to build hybrid data systems, pulling information from platforms, delivery partners, and third-party tools to get a clearer view of demand and deliveries. Looking ahead, there's a strong need for industry-wide rules around data sharing and transparency, similar to what happened in organized retail years ago."
Time of India
41 minutes ago
- Time of India
Rs 5,000 to register mutually divided ancestral property
1 2 Lucknow: The department of stamp and registration is working on a proposal to cut down stamp duty for partition of properties from 7% of the value of a property to a flat Rs 5,000. Partition of property refers to division of ancestral property among various claimants. Due to the high cost of registration of 'aapsi sehmati' or mutual consent settlements, families end up going to revenue or civil courts which means that matters can get dragged on for months, if not years. By easing registration charges, the government hopes to reduce pendency in civil and revenue courts. An official confirmed that the proposal will be taken to Cabinet for clearance in about a month. Partition of property is when the co-owners of a property mutually agree to divide the property among themselves and accordingly get it registered under Article 45 of the Registration Act, 1908. For instance, if an ancestral house is owned by two siblings, and two generations down they have 16 descendants, then the property needs to be divided into 16 parts, which includes the decision on which part of the property goes to whom. "Registration of stamp duty is 5% of the property price in Noida and 7% in the rest of the state. To avoid this cost, families end up going to the revenue department or to civil courts which could take months to dispose of each matter. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Much Does It Cost to Rent a Private Jet - The Prices May Surprise You! Private Jet I Search Ads Learn More Undo This process can be completed in just five minutes through mutual agreement now. To reduce this burden, a flat rate of Rs 5,000 per registration has been proposed," said minister Ravindra Jaiswal. In fact, the idea to reduce registration to a flat rate was mooted by chief minister Yogi Adityanath in 2024 not just to reduce pendency in courts but since in the case of partition there is no sale or purchase of property but just division, it was felt that high registration rates were unfair on citizens. Meanwhile, other aspects of property settlement within families where a similar reduction in stamp registration can be expected within the next few months include settlement under Article 58 of the Registration Act, 1908, where a person distributes property among heirs while still alive, release, and exchange of ancestral properties.
Time of India
41 minutes ago
- Time of India
Naharkatia gets Rs 130-crore fund for 5 projects
1 2 3 4 Dibrugarh: Assam CM Himanta Biswa Sarma on Thursday unveiled an ambitious development package worth Rs 130 crore for Naharkatia in Dibrugarh district, laying foundation stones for multiple infrastructure projects at the Naharkatia Higher Secondary School Playground. The ceremony marked a significant milestone in the region's development trajectory, with the CM laying the foundation stones of five major projects designed to boost educational infrastructure, transportation connectivity, and sports facilities. The centerpiece of the development package is the Namrup-Naharkatia road overbridge, which will be constructed at a cost of Rs 69 crore. The critical infrastructure project is expected to significantly improve transportation links and facilite smoother movement of goods and people between the two important towns. The second-largest project in the package is the co-district commissioner's Office, allocated Rs 20 crore. This administrative facility will bring govt services closer to the people, reducing their need to travel to district headquarters for various official procedures and documentation. Sports infrastructure received a significant boost with the announcement of a hockey stadium project worth Rs 15 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Many Filipinos don't know about this! Read More Undo The facility is expected to nurture local sporting talent and provide a platform for athletes from the region to showcase their skills at various levels of competition. The education sector development featured prominently in the package, with the CM laying foundation stones for two school — the Naharkatia Higher Secondary School Building, with an allocation of Rs 7 crore and the Konwariajan High School Building, budgeted at Rs 8 crore. He also handed over the newly constructed ITI Naharkatia to the skill, employment and entrepreneurship department. The technical institute, built at a cost of Rs 11 crore in collaboration with Tata Technologies, represents a significant investment in skill development infrastructure. The ITI facility is expected to provide technical education and vocational training to hundreds of students annually, equipping them with industry-relevant skills and improving their employment prospects in various sectors. "Today's foundation laying ceremony represents our govt's unwavering commitment to balanced regional development across Assam. These projects will not only enhance infrastructure but also create employment opportunities and improve the quality of life for our people in Naharkatia and surrounding areas," Sarma said during the event.
