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Zomato Headed for Profitability; Sees 10x Growth in 5 Years: CEO Deepinder Goyal

11Sep By PriyankaNo Comments

Entrepreneurs Talk

Zomato Headed for Profitability; Sees 10x Growth in 5 Years: CEO Deepinder Goyal

India's largest restaurant search and food delivery platform Zomato is on the verge of cracking its maiden profits on the back of rapid expansion into newer cities that have brought more business to both established outlets and 'dark kitchens', creating thousands of jobs, its founder and CEO Deepinder Goyal said. The company on September 7 laid off 540 employees at its head office in Gurugram across its customer, merchant, and delivery partner support teams, but Goyal insists Zomato is creating more jobs than ever before. Starting off in 2008 by scanning and putting restaurant menus online, Zomato has expanded to 24 countries and services 10,000 cities globally, he told PTI. In India, it serves 25 million customers in over 500 cities in India and is valued by analysts at between $...

Zomato scales FY18 revenue by 40%, Losses Fall Almost 73%

22Sep By Gauri SinghNo Comments

BUSINESS

Zomato scales FY18 revenue by 40%, Losses Fall Almost 73%

Online food delivery and restaurant discovery firm Zomato has ended the financial year 2017-18 with a 40% growth in revenues at Rs 466 crore. The firm also reduced its losses by almost 73% to come in at Rs 106 crore in FY18 as compared to Rs 390 crore last year. According to the reports, the firm witnessed its standalone revenues grow almost 25% to Rs 388 crore in FY18 from Rs 309 crore last year. Also, the standalone losses for FY18 fell 86% to Rs 78.5 crore this time. “We demonstrated that our business can generate profits — almost throughout the year, we hit EBITDA breakeven globally, across all our business, and while maintaining good growth levels; and then in the last two months, we decided to double down on growth,” said Zomato Founder and CEO Deepinder Goyal. The firm saw ...

The Five Most Inspiring Young Indian Entrepreneurs You Must Know About

27Aug By Gauri SinghNo Comments

INSPIRATIONAL

The Five Most Inspiring Young Indian Entrepreneurs You Must Know About

In the last few years, India has been witnessing a huge growth in the number of startups and thus, the birth of entrepreneurs in the country has also risen. With this, our country has got such an amazing number of talented and hard-working entrepreneurs that have helped India to reach a different level of success. All the business spaces including technology, telecommunication, digital payment, edutech, hospitality among others have been seeing a good amount of expansion across various cities in India. The new-age entrepreneurs have been successful in proving themselves through their box thinking, leadership qualities, and execution styles. Here, we will talk about some of the most inspiring and hard-working young entrepreneurs of India who are changing the game for their generation ...

Zomato CEO Announces $100 Mn Annual Revenue Run Rate

23Mar By Sheldan RungasamyNo Comments

News

Zomato CEO Announces $100 Mn Annual Revenue Run Rate

Zomato, an online restaurant discovery and food delivery platform is set to review its revenue streams after their FY18 revenue history showed that online food ordering and premium subscription service Zomato Gold were the leading streams of revenues as far as the firm’s growth pace goes. According to the company, their annual revenue run rate reveals that they have hit Rs 650 of revenue run rates and Zomato Gold generated more revenues. “Zomato's hit $100M annual revenue run rate this month. 40% growth in just the last two months. Loving the momentum!,” wrote CEO Deepinder Goyal on the micro-blogging site Twitter. Zomato's hit $100m annual revenue run rate this month. 40% growth in just the last two months. Loving the momentum. cc @mukund1981 @gauravg1181 @deeppurpled @gunjan2307...

A Reply To HSBC & Media From Deepinder Goyal (Founder of Zomato)

9May By No Comments

BLOGS

A Reply To HSBC & Media From Deepinder Goyal (Founder of Zomato)

An HSBC analyst report marked down our valuation from $1b to $500m. For starters, this is very different from all the markdowns so far where investors have marked down their own investments. But given all the media reports, I got a lot of questions from people at Zomato about what’s going on. Here’s an email I sent to everybody at Zomato (2100 people currently across the world) to allay their concerns and answer their questions. Read on. Hello all, You must have woken up today to Google Alerts with mentions of Zomato’s valuation being marked down by HSBC. As you already know, the media is all over it, and we are trending on Twitter. Since the report isn’t public, and we all get troubled by where we are and where we are heading, here’s some context and detail around the HSBC ...

Lessons from 2015 – Deepinder Goyal, Founder of Zomato

31Jan By NitishNo Comments

BLOGS

Lessons from 2015 – Deepinder Goyal, Founder of Zomato

“The rear-view mirror is always clearer than the windshield” –Warren Buffet 2015 was truly our year of learning. We learned while doing things we had been doing for a while, and we learned while venturing into uncharted, unfamiliar territory. At the turn of the year, as we always do, we paused to take stock of what we’d learned from the year gone by. Here are our key takeaways from 2015 – Don’t scale too fast. We scaled massively in 2015, starting with acquiring Urbanspoon, which gave us a canvas 3x larger than we had before. We were rapidly launching operations in new geographies and setting up new businesses. Suddenly having that many new competitors in new markets meant everything had to become an equal priority. When you do that, you spread yourself thinner than you want t...

Zomato Founder Apologies for Zomato’s Porn Campaign

19Dec By AdityaNo Comments

News

Zomato Founder Apologies for Zomato’s Porn Campaign

Deepinder Goyal, Founder of Zomato apologised on Zomato Blog because of some folks got offended by the recent porn campaign. Zomato had tried an advertising campagin that involved using websites similar in nature to porn7 to, however, this tactic seemed to backfire with Zomato's audience, causing the founder to offer an apology. In Blog, he posted about how this less expensive marketing tactic works but at the same time felt sorry for "such cheap marketing was not expected from a brand of our standard and also supporting abuse." Deepinder Also wrote - For a start, we’re killing the porn site campaign, because we sense we crossed the fine line between marketing irreverence and cultural insensitivity. If we did, and ended up offending or disrespecting anyone in any way at all, we are so...