MUMBAI: Startups will need to innovate to create long-lasting businesses as the rapid evolution of technology will make current business models irrelevant in the years to come.
“With all the tech and distribution systems that are changing, no business model will last beyond a decade or two. Startups will have to innovate and create new businesses out of the outcomes that they have created so far if they have to last longer,” said Deepinder Goyal, founder and CEO at Zomato, adding that building a generational company is harder now.“For Zomato, it is all about how do we disrupt our own businesses. Zomato is already at version four in its 16-year journey,” Goyal said at the Startup Mahakumbh event on Monday.
The firm’s quick commerce business Blinkit could get bigger than Zomato in a year’s time, Goyal added. The Gurgaon-based food delivery major had acquired Blinkit (formerly Grofers) in a Rs 4,447 crore deal in 2022 to get a foothold in the quick commerce or instant delivery market which is fast growing in India.
Meanwhile, Rajan Anandan, MD at Peak XV Partners, said that founders should focus on building very high quality businesses and that there’s no lack of capital for solid business models. The startup ecosystem is expected to pocket $10-12 billion in funding from investors this year, Anandan said.
“With all the tech and distribution systems that are changing, no business model will last beyond a decade or two. Startups will have to innovate and create new businesses out of the outcomes that they have created so far if they have to last longer,” said Deepinder Goyal, founder and CEO at Zomato, adding that building a generational company is harder now.“For Zomato, it is all about how do we disrupt our own businesses. Zomato is already at version four in its 16-year journey,” Goyal said at the Startup Mahakumbh event on Monday.
The firm’s quick commerce business Blinkit could get bigger than Zomato in a year’s time, Goyal added. The Gurgaon-based food delivery major had acquired Blinkit (formerly Grofers) in a Rs 4,447 crore deal in 2022 to get a foothold in the quick commerce or instant delivery market which is fast growing in India.
Meanwhile, Rajan Anandan, MD at Peak XV Partners, said that founders should focus on building very high quality businesses and that there’s no lack of capital for solid business models. The startup ecosystem is expected to pocket $10-12 billion in funding from investors this year, Anandan said.
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