The food delivery app Zomato’s CEO and founder, Deepinder Goyal in a step to make a better future for the young generation, has planned to donate USD 90 million(Rs 700 ), from the vested Employee Stock Ownership Plan to Zomato Future Foundation to help fund the education of children of its delivery partners.
“For the Zomato Future foundation, here Iam donating all the proceeds from net taxes, and the company Zomato will take care of the education of up to two children of all Zomato delivery partners,” said the CEO Goyal. This is one of the many other steps that Food Tech and Quick Commerce companies are taking to prevent fraud by delivery executives.
Earlier, the CEO was granted ESOPs by our investors recently and he has been granted it right before it went to public. The company CEO will donate Rs 1 lakh per child per year and the children of those employees who completed 10 years with the delivery partner company, as per a report. Goyal further added that Service thresholds of 5/10 years will be lower for women delivery partners. Zomato will also have special programs for girl children and introduce ‘prize money’ if a girl completes 12th grade, as well as her graduation.
“Education to every child is my aim, and now all I can do is to give my part as a donation to atleast for the children of my employees,” Goyal said. Goyal claimed that higher education scholarships for students with high performance and potential would be covered under this.
Before this donation announcement, the food tech company had also started a not-for-profit organization called the Feeding Foundation, providing food security to daily wage workers in 2020. Zomato had also launched it in the Philippines, called Feeding Philippines.