Deepinder Goyal, Zomato Founder and CEO of Zomato, a leading online food delivery company, donates Rs 700 crore to educate children
Deepinder Goyal, Zomato Founder and CEO of Zomato, a leading online food delivery company, expressed his generosity. Delivery partners working in their company announced a huge donation for their children’s education. It has been revealed that about Rs 700 crore will be given to the Zomato Future Foundation for this. The amount will be donated from ESOPs. This was stated in a memo sent to company employees.
Prior to Zomato's public listing, investors and the board offered him some ESOPs (Employment Stock Ownership Plans) based on Deepinder Goyal's performance. Goyal will sell the shares when some of these expire. According to last month's average share price, these ESOPs are worth about $ 90 million. That is about Rs 700 crore in Indian currency.
Goyal said the proceeds from the sale of the shares will be donated to the Zomato Future Foundation. Donations raised through this foundation will be used for the education of children of delivery partners working in Zomato. Delivery partners can avail this assistance for the education of a maximum of two children.
Goyal said the company would provide assistance of up to Rs 50,000 per annum to the children of delivery partners who have completed at least five years. If the employee completes 10 years in the company, their children will be paid up to Rs 1 lakh.
Goyal said the terms of service for female delivery partners were lower than this. It was also revealed that special schemes for girls and prize money will also be given to children who have completed 12th class.
Scholarships will also be given for higher studies depending on the talent of the children. If unfortunately the delivery staff is in danger while performing the duties they will be financially supportive to their families irrespective of the service.
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