CEO of Zomato donates $90 million; Reason will leave you smiling

  • 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.

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INDEPENDENT.

OBJECTIVE.

UNBIASED. 

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