6 Key takeaways of Zomato's Founder DeepinderGoyal interview with YourStoryMedia-
1. If you have a lot of Money in the bank, your Answers to Problems always revolve around Money. You think of the easiest answers, which generally involve Spending.
2. Perception of your size in the delivery business also comes from the delivery fleet Wearing your Brand colored Tshirts out on the Roads.
3. In Food Delivery, there is a big First-Mover-Advantage if you have a good Service. And we initially lost Hyderabad and Bangalore because of that.
4. About 20% of our cost is being focussed on new areas - Experiments - we are in Investment mode. We can cut down those experiments on new things and can be 20% positive on EBITDA today.
5. I think the biggest change was that we stopped spending mindlessly, not just on advertising, but everywhere. Costs flattened out and eventually came down.
6. We were launching in a lot of new countries. Every 2 months, there was a country launch, and that added to a lot of fixed costs, payroll costs, rental costs, etc. And when the market turned, we could not Sustain in the new markets that we had just launched in. We had to Layoff the teams in most of the countries we launched in during 2015 - mainly North America and Europe. There was no change in India and UAE. Actually, for about a month when we laid off people, nobody said anything and FoodTech was going great until TinyOwl imploded. And then food tech was in trouble, and we got dragged into it. Until that time, the Indian media did not care that we had to lay off some employees in the opposite side of the world.
1. If you have a lot of Money in the bank, your Answers to Problems always revolve around Money. You think of the easiest answers, which generally involve Spending.
2. Perception of your size in the delivery business also comes from the delivery fleet Wearing your Brand colored Tshirts out on the Roads.
3. In Food Delivery, there is a big First-Mover-Advantage if you have a good Service. And we initially lost Hyderabad and Bangalore because of that.
4. About 20% of our cost is being focussed on new areas - Experiments - we are in Investment mode. We can cut down those experiments on new things and can be 20% positive on EBITDA today.
5. I think the biggest change was that we stopped spending mindlessly, not just on advertising, but everywhere. Costs flattened out and eventually came down.
6. We were launching in a lot of new countries. Every 2 months, there was a country launch, and that added to a lot of fixed costs, payroll costs, rental costs, etc. And when the market turned, we could not Sustain in the new markets that we had just launched in. We had to Layoff the teams in most of the countries we launched in during 2015 - mainly North America and Europe. There was no change in India and UAE. Actually, for about a month when we laid off people, nobody said anything and FoodTech was going great until TinyOwl imploded. And then food tech was in trouble, and we got dragged into it. Until that time, the Indian media did not care that we had to lay off some employees in the opposite side of the world.
Deepinder Goyal
Source:
Yourstory.com/2017/08/zomato-deepinder-goyal-interview/
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