Zomato is built on a cult of personality. Here’s why it works—until it doesn’t

Zomato founder Deepinder Goyal says that over 18,000 people have expressed interest in becoming his next chief of staff—a role that comes with a surprising twist: a salary of minus ₹20 lakh, targeted at candidates with a "learning mindset" and “not a lot of experience.”

A single unusual job description was enough for the Zomato CEO to garner over 16 million views on X (formerly Twitter), spark endless reposts across social media, and ignite think pieces debating whether the role was "fair." The post also attracted widespread coverage in business, startup, and general news outlets (including Mint). Meanwhile, a wave of startup founders seized the moment to advertise their own chief of staff roles—promising to pay, not charge, for the position.

This surge of attention far surpassed anything rival Swiggy managed in recent weeks, despite its much-publicized stock market debut. Certainly, there was reader interest in the much more reticent Swiggy founder Sriharsha Majety. And news of high-profile film stars and business owners buying its shares in secondary sales before the IPO helped.

Read this | How ‘ideas man’ Sriharsha Majety’s hyperlocal focus put Swiggy on the map

But in the race for public attention, Goyal and Zomato leave their quieter competitors far behind.

Consider this: earlier this year, Goyal claimed he was "kicked out" as a judge on the high-profile reality show Shark Tank India after Swiggy reportedly signed on as the next season’s main sponsor. Just two months later, he appeared alongside his wife, Grecia (aka Gia), as a guest on The Kapil Sharma Show, arguably one of India’s most popular talk shows. In fact, Goyal seems to stir online controversy every few weeks, keeping the public conversation around him alive.

In recent months, Goyal has drawn millions of views for himself and Zomato with a series of headline-grabbing moves: exposing discriminatory mall rules in a viral video while personally delivering food orders, launching and retracting a "Veg Only" delivery fleet, introducing a service for buying cancelled food orders, and enabling users to sell concert tickets on the app. This relentless stream of new features and debates has led many to label him as perpetually in "founder mode," a term popularized by tech entrepreneur Paul Graham to describe unyielding entrepreneurial energy.

More here | Not just a cold play: How Zomato can make District a blockbuster

In contrast, Majety has made few public appearances, with his only notable one this month being at Swiggy's listing ceremony. That might soon change, as he is reportedly set to join season four of Shark Tank India as a judge—a platform that has catapulted several tech entrepreneurs into household name status, even those previously unknown outside startup circles or big cities. Majety’s presence on X and other social media remains minimal, limited to routine company updates and the occasional meme, the last of which dates back to 2022.

For "new-age" tech businesses, building a strong brand presence is crucial, particularly as they face investor criticism for unprofitable operations and regulatory scrutiny for frequently bending the rules.

In this regard, Swiggy and Zomato are a study in contrast. Zomato, shaped by Goyal’s brash, agile, inventive, and relentless persona, has built a strong and memorable identity directly tied to its founder. In comparison, Swiggy lacks a distinctive brand image and is not driven by the dominant personality of its founders. The result: Zomato consistently outpaces Swiggy in shaping public opinion and staying in the spotlight.

Founder-led branding risks

But there is a downside to this strategy too. It is risky to tie the public image of a business, especially a public one, to the personal traits and quirks of its founder. Just ask Elon Musk. He has already been the subject of an investigation by the US Securities and Exchange Commission for his 2022 acquisition of Twitter; the regulator previously sued him for fraud when he tweeted in 2018 that he may take Tesla private. Musk may argue that rules are meant to be tested, and so far, he has never been successfully indicted. Shareholders of Musk’s public companies must closely monitor his every post, video, and public statement to safeguard their investments. Could Zomato’s shareholders face a similar predicament? Possibly.

Also read | Bhavish Aggarwal had a dream IPO. But how much mileage does Ola’s stock have?

Goyal’s branding success might inspire less experienced founders to emulate his approach, potentially putting their investors at risk. Consider the case of Bhavish Aggarwal’s Ola Electric.