On Friday, Zomato CEO Deepinder Goyal announced the donation of his employee stock options (ESOPs) worth $90 million to Zomato Future Foundation (ZFF).
He had received the stock options from all his investors and the board of directors.
As per Zomato's average share price, the donated ESOPs are worth $90 million or ₹700 crores.
"To reap the most benefit for ZFF, and protect the interests of our shareholders, I do not intend to liquidate all these shares immediately but over the next few years. For the first year, I will liquidate less than 10% of these Esops towards this fund," Zomato CEO said.
This donation will be used for financing the education of up to two children of all Zomato Delivery Partners, special programs for girl children, higher education scholarships, etc.