Who is Pankaj Chaddah? IIT Delhi alumnus, Zomato’s ‘conscience keeper’ who quit at his peak and built a wellness empire instead

Deepinder Goyal, the co-founder and CEO of Zomato's parent company Eternal (ETEA.NS), has stepped down after 18 years in the post. He's passing the leadership to Albinder Dhindsa, who currently runs their super-fast-growing quick-commerce arm, Blinkit.

But it was Goyal and Pankaj Chaddah, who started Zomato back in 2008, took it public with a big stock listing in 2021, and rebranded the whole group as Eternal after buying Blinkit in 2022, which is now their top money-maker.

Pankaj Chaddah might not be grabbing headlines like other startup stars, but his story shows how relentless hard work truly brings flying colours.

Who is Pankaj Chaddah?

Pankaj Chaddah and Deepinder Goyal launched Zomato in 2010 from Delhi. Both IIT Delhi alumni from the class of 2007, they started with an offline restaurant discovery model that exploded into online ordering and delivery. Chaddah played a crucial operational role, often called the "conscience keeper" by Goyal, helping navigate early upheavals.

By 2018, with Zomato valued highly and raising big funds like $150 million from Ant Financial, Chaddah stepped back from daily ops but stayed on the board. He retained a 3.11% stake, worth crores then. In 2018, Chaddah took to X to reveal that he was “moving on” from Zomato after 10 years to try something new.

Pankaj launched his mindful wellness app post Zomato

After a short break, Chaddah launched Mindhouse in December 2019 with ex-Zomato colleague Pooja Khanna. It began as offline meditation studios in Delhi-NCR but pivoted online during the COVID lockdown, offering live yoga and meditation classes, and on-demand modules via an app. The app tailors content for goals like better sleep or focus, targeting stressed professionals.

Chaddah told The Hindu BusinessLine, “Mental health has come to the forefront with the ongoing Covid-19 crisis... there is a clear need for a more singular, dedicated approach to mental wellness, which is what Mindhouse is focused on.” Early popularity was strong, with over 85% positive user feedback, partnerships with 500+ companies, and self-funding with angel backers. Membership cost ₹1,999 yearly.

He expanded his startup further

Mindhouse evolved into Shyft, expanding into nutrition and holistic wellness. The pivot proved smart amid lockdown demand surges for yoga services. Valued at ₹165 crore in 2021, Shyft leveraged Chaddah's Zomato scaling expertise. In a Forbes interview, he talked about his food-tech experience being "instrumental in helping him successfully scale and navigate this new online business."

Zomato and beyond

Eternal's market cap hit ₹273,491 crore, with Goyal resigning as CEO to become VP, and Chaddah's current focus remains Shyft.

Besides his roles with Zomato and Shyft, he's been an angel investor and mentor to various startups. He's also one of the founding members of Plaksha University in Chandigarh and serves as an advisor to Akshayapatra.