Zomato's Goyal to donate Rs 700cr ESOP proceeds to Zomato Future Foundation

Goyal was granted ESOPS by Zomato's investors and board based on his performance right before the company went public last year

Deepinder Goyal, the co-founder and CEO of food technology company Zomato, rekindled the welfare spirit of old-world corporate India on Friday when he announced his decision to donate all his stock options vesting this year, worth about Rs 700 crore, towards educating the children of his company’s delivery partners. The twist is that Goyal is deploying what would have become his personal wealth, whereas old corporate India used company resources for welfare.

In an internal note, which is being widely circulated, Goyal said he would donate all his ESOPs proceeds this year, net of taxes, to Zomato Future Foundation to cover