Rs 700 crore to be donated by Zomato CEO to educate the children of delivery partners.

FeatureIndia.in
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The founder and CEO of Zomato- Deepinder Goyal, will donate approximately USD 90 million (about Rs 700 crore) from ESOPs to the Zomato Future Foundation to fund the education of the delivery partner’s children.

Sharing how he intended to utilize the ESOPs, Deepinder said, “I am donating all the proceeds from these ESOPs (net of taxes) towards the Zomato Future Foundation (ZFF). The ZFF will cover the education of up to two kids of all Zomato delivery partners, up to Rs 50,000 per child per annum on actuals who have been on our fleet for more than 5 years.”

The CEO said that the amount shall go up to Rs 1 lakh per kid per annum if the delivery partner finishes 10 years with the company.

However, Deepinder even added that the service thresholds of 5/10 years will be lower for women delivery partners and will also start special programs for girl children and introduce prize money if a girl finishes 12th class, as well as her graduation.

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