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The $5.4 billion foodtech firm Zomato has just made its first move with respect to its initial public offering (IPO) by filing the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). Zomato is going for a whopping $1.1 billion IPO, a first for India’s tech unicorns. A closer look at the DRHP reveals the take home salaries of Zomato’s top leaders, including its co-founder and chief executive officer (CEO) Deepinder Goyal. While only Goyal and Gunjan Patidar, the chief technology officer of the company hold equity shares, the other executives also hold ESOPs beyond their salary. Here’s a look at how much the foodtech unicorn’s top executives earn: Goyal started Zomato in 2008 and now holds a 5.5% stake in the company. While Goyal has a basic salary of ₹3.5 crore per annum, the co-founder has taken a pay cut owing to the COVID-19 pandemic. In the financial year ended March 31, 2021, Goyal had a salary of ₹1.96 crore. Goyal also announced that he...

  In January 2021, in the midst of an intense virtual discussion among the members of a Reserve Bank of India (RBI) working group, Rahul Sasi, a cybersecurity specialist from Bengaluru, was suddenly struck with a golden idea. The 32-year-old Sasi, one of the members of the RBI working group that was studying various aspects of digital lending activities in the country, had no answer when a senior central banker raised a pertinent question: how safe are the online consumers using hundreds of mobile-based apps, especially by online retailers, in the absence of a regulator, in the country? The RBI working group had found to its horror how over 1,000 apps had mushroomed in India in a few months of lockdown, and all of them were off the regulatory glare, offering a multitude of loans at a click. Most of them were illegal and employed dubious methods like social shaming and online harassment, driving defaulters to suicide. A slew of suicides and prima-facie serious complaints eventuall...