Food delivery giant Zomato trended big time on Wednesday as it launched its much-anticipated IPO to raise Rs. 9,375 crores. Amid many tweets congratulating the start-up and the several memes that surfaced on social media, there was one post with a difference. Businessman Sanjeev Bikhchandani, co-founder of Info Edge, shared a picture of a wall at the Zomato office. The wall features mostly-empty photo frames categorized under the headings "10 years", "20 years", "30 years" and "Notable Alumni" to honour employees who have helped the company grow into the success it is considered today. "Anything good and meaningful takes decades to build," reads the text on top of the frames.
Zomato was founded by Pankaj Chaddah and Deepinder Goyal in 2008. While Mr Goyal's portrait hangs under the "10 Years" section of the wall - along with the only two other employees who have been with the company for that long - Mr Chaddah's picture is now under "Notable Alumni". He left the firm in 2018. Since Zomato began only 13 years ago, the 20 and 30 years sections of the wall are naturally empty.
The feature wall received much appreciation on the microblogging platform - and high praise from the founder of Paytm, who said it was an idea worth borrowing. "I am gonna copy this idea!" wrote Paytm CEO Vijay Shekhar Sharma on Twitter. "It's so good," he added.
Mr Sharma wasn't the only one impressed by the idea. Edelweiss Mutual Fund CEO Radhika Gupta, too, wanted to borrow the idea. "Let's put this on our wall @avasthiniranjan. Never forget what
@sbikh said... a great company is the effort of a lifetime!" she wrote.
Here's a look at some other reactions:
Zomato Ltd.'s $1.3 billion initial public offering was fully subscribed on the first day, according to a Bloomberg report. Zomato got bids for about 749 million shares against 719.2 million shares on offer. Its IPO is set to be India's biggest since March 2020, according to data compiled by Bloomberg, and the largest sale was 40% subscribed on its first day.
