CEO Of Zomato Would Donate Around Rs 700 Crores For The Education Of Delivery Partners' Children
Update: 2022-05-07 12:30 IST
Photo/ NDTV and Twitter/Deepinder Goyal (Representational)
Deepinder Goyal, the founder and CEO of online food delivery platform Zomato, is scheduled to contribute over 700 crores through vested ESOPs to the Zomato Future Foundation to help pay the education of its delivery partners' children. In an internal memo distributed to Zomato employees, Goyal stated that right before the company ended up going public, the board and investors had granted him a few ESOPs relying on his previous performance, and that some of the ESOPs had intimately involved the prior month, as considered necessary by law.
Goyal revealed his plans to use the ESOPs by saying that he is donating all of the income from these ESOPs to the Zomato Future Foundation. On actuals above a particular service quality criteria who have been on our fleet for more than five years, the ZFF will support the education of up to two children of all Zomato delivery partners, up to 50,000 per child per year.
He also stated that when the delivery partner completes ten years with the organisation, the amount will increase to one lakh per kid per year. Moreover, when it refers to women delivery partners, he claimed that service thresholds of 5/10 years will be substantially lower.
He stated that the corporation will have a few special programmes for girls and will provide 'prize money' when a girl completes her 12th grade and graduation. Higher education scholarships, according to Goyal, would be available for youngsters with higher performance and potential.