With just six months of cash in bank, IPO was a desperate contingency plan: Zomato CEO

MUMBAI: Food-delivery and restaurant discovery platform Zomato NSE 0.78 %, which won in the prestigious Startup of the Year category at the Economic Times Startup Awards 2021, was chosen by the elite jury for executing a stellar debut on the Indian public markets, thereby aiding a crush of IPOs by new-age internet companies. Deepinder Goyal, cofounder and CEO of Zomato, said in an interview with ET that the company’s IPO earlier this year was not by design. Instead, it was a “desperate contingency plan” which had to be kicked off amid the worst crisis ever faced by the food-delivery major.