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Zomato Claims to be the Leader of Food Delivery Space in India

6Oct By Gauri SinghNo Comments

BUSINESS

Zomato Claims to be the Leader of Food Delivery Space in India

India’s food delivery sector is growing a lot these days. Restaurant discovery and food delivery firm Zomato recently claimed to have hit the 21 million monthly order run rate in India. The company said that it saw its highest weekly order volume during the month of September touch 700,000 orders each day of the week. With this, foodtech giant Zomato has announced that it is the market leader in the food delivery space in India. “At the beginning of 2018, we were at 3.5 million orders a month. With 21 million orders per month, as far as we know, we are now the market leader in the food ordering space in India,” mentioned Zomato CEO, Deepinder Goyal. Also, it was stated that Zomato had reached the 3 million monthly order volume mark. The company has its existence in 38 cities in India....

Ride-Hailing Giant Eyeing to Acquire London-based Deliveroo

24Sep By Gauri SinghNo Comments

ACQUISITION

Ride-Hailing Giant Eyeing to Acquire London-based Deliveroo

The international ride-hailing service provider Uber is in early talks to acquire food delivery company Deliveroo. The amount of the deal is unknown as of now, however, it has been stated that the offer would need to be considerably above Deliveroo's latest valuation. Deliveroo is a London-based food delivery company founded in 2013 by Americans Will Shu and Greg Orlowski. Last year, the company was valued at more than $2 billion after it raised $98 million from private investors. The deal is not sure to close and may fall apart because Deliveroo and its investors have been reluctant to relinquish independence. Uber has been growing in all segments and with its recent entry in the food delivery space with UberEats, this acquisition may help the company a lot. In Deliveroo, the orders...

Swiggy Expands its Services to Eight New Cities

21Sep By Gauri SinghNo Comments

BUSINESS

Swiggy Expands its Services to Eight New Cities

The food delivery platform Swiggy which is the rival of Zomato is gearing up for the competition. The company has launched its services in eight new cities as it strengthens presence across the country. The new cities where Swiggy has rolled out its services include Dehradun, Puducherry, Mysore, Vijayawada, Nashik, Guwahati, Kanpur and Ludhiana. It has been stated that the company has partnered with over 1,200 restaurants in these cities. "Expanding to these eight new markets is very important to us,” Swiggy COO Vivek Sunder said. He also stated that over the years, Swiggy has played an important role in making food ordering and delivery more convenient, reliable and accessible for consumers across the country. The company was founded in 2014 and claims to have over 40,000 restaura...

Zomato Appoints Thomas Phillippe as its General Counsel

19Sep By Gauri SinghNo Comments

News

Zomato Appoints Thomas Phillippe as its General Counsel

The restaurant discovery and food delivery platform Zomato has been taking various efforts to keep up with the growth phase. And now, the company has taken on board Thomas Phillippe as its General Counsel. Prior to Zomato, Thomas was earlier a partner at legal firm Khaitan & Co. This new appointment marks the first such role at Zomato which has previously been working with legal firm AZB & Partners as its advisor. The new General Counsel has over 13 years of experience as a private practice lawyer in both domestic and cross-border M&A, private equity, and venture capital transactions. This may be a positive point for the foodtech firm. From the past few years, Thomas has played a valuable and important role at e-commerce and financial technology companies in advising ...

Zomato Acquires a Bengaluru-based Food-Tech Startup

5Sep By Gauri SinghNo Comments

ACQUISITION

Zomato Acquires a Bengaluru-based Food-Tech Startup

Zomato, the online food delivery and restaurant discovery giant has reportedly acquired a Bengaluru-based startup known as TongueStun Food in a cash and stock deal. The startup is basically concerned with aggregating caterers and restaurants for office canteens. Following this acquisition, the valuation of the company will reach $18 million as stated by the people involved in the transaction. Also, Deepinder Goyal, the co-founder & CEO of Zomato has confirmed the news of transaction. He also stated that they saw immense growth opportunity in the food at workplace segment. "We don't see the ceiling to how big this market could become just yet. What we know is that this market is very high frequency, and customers are very sticky as they end up placing more than 20 orders a month on ...

Zomato’s Chief Business Officer Mukund Kulashekharan Calls a Quit

5Jun By Lavina TolaniNo Comments

News

Zomato’s Chief Business Officer Mukund Kulashekharan Calls a Quit

Online Restaurant Search and Food Delivery Platform, Zomato's chief business officer Mukund Kulashekharan has resigned from the post after a three-year stint, a report in a financial daily stated. Kulashekhran is expected to join local marketplace UrbanClap and is currently in talks to head certain verticals at the on-demand services platform, cited ET according to the people familiar with the matter. Mukund had first joined Zomato in 2015 and was promoted to the post of the chief business officer. Before that, he was serving as a global business head in online catering firm. Mukund is an alumnus of the Tuck School of Business at Dartmouth and has done computer science engineering from National Institute of Technology, Tiruchirapalli. Apart from Mukund, Zomato has witnessed man...

Zomato expands in North, Launches Service in Lucknow and Ludhiana

2Jun By Lavina TolaniNo Comments

News

Zomato expands in North, Launches Service in Lucknow and Ludhiana

Zomato, the popular online restaurant search platform is all set to expand its ordering and food delivery services in North as it has decided to kick-start its operations in Lucknow and Ludhiana, as informed by the company on Friday. With the launch of Zomato's services in these two cities, Zomato's online network has now stretched across 17 Indian cities which include Pune, Kochi, Jaipur, Ahmedabad, Chandigarh, Indore, Coimbatore, Vadodara, and Nagpur, Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata. The company has tied up with 1000 restaurants across the new cities including legendary, exquisite, favourites, to quick food joints and new cafes. Popular restaurant brands like Moti Mahal, Al-Baik.Com, Marksman will now give service online through Zomato. Mohit Kumar, Zomato,...

Chennai Based Genie Acquires Food Delivery Platform Dinein

6Feb By AdityaNo Comments

ACQUISITION

Chennai Based Genie Acquires Food Delivery Platform Dinein

Hyperlocal delivery and logistics startup Genie Solutions Pvt Ltd has recently acquired food delivery firm Dinein in an all stock deal, as per the company release. The acquisition is the part of the Genie's plan to strengthen its business by adding up the Dinein's 25-member team, delivery fleet, restaurant partners and their technology in their business in a bid to expand their presence in Chennai. However, the financial details of the deal have not been disclosed. Dinein, launched in 2012 has collaborated over 250 restaurants in Chennai, helping them in their food delivery process and claims to oversee 6000 orders in a month. “We see this as a great opportunity to grow and offer great experience to customers. With a focused food delivery service and a pureplay logistics platform ...

Alibaba and Ant Financial Invested Net $500M in Zomato and BigBasket

2Feb By RishabhNo Comments

FUNDING

Alibaba and Ant Financial Invested Net $500M in Zomato and BigBasket

Alibaba's payment affiliate- Ant Financial has invested $200 million in restaurant discovery and food ordering app Zomato, latest stock exchange filings by Zomato's largest stakeholder- InfoEdge revealed. InfoEdge currently holds 45% stake in Zomato, and informed Bombay Stock Exchange on Thursday that the funding round includes a $50 million secondary share sale to Ant Financials, which will dilute its stake in Zomato to about 30.9% post the capital infusion. The primary and secondary shares of Zomato,value it at $880 million pre-money, according to the statement filings. Pixr8 reported in Semptember that Zomato may receive a $200 million funding from China’s payments giant Ant Financial Services Group, valuing it around $1 billion. “The expected date of completion of sale/disp...

30Sep By RishabhNo Comments

News

Food Tech Startup Yumist Shuts Down

Gurugram-based food technology startup Yumist has decided to shut down its operation after it failed to raise any funding. The startup cooked its own meals and delivered to the customer's' doorstep through a cloud kitchen model. (more…)

Delivery Hero Acquires Kuwait Based Food Delivery Service Carriage

29May By AnkitaNo Comments

ACQUISITION

Delivery Hero Acquires Kuwait Based Food Delivery Service Carriage

Delivery Hero Group (“Delivery Hero”), the leading global online food ordering and delivery marketplace, announced today it has agreed to acquire Carriage, a young and fast-growing food delivery platform based in Kuwait and operating in the Gulf Council Countries (GCC). Carriage operates a hybrid business model offering both, delivery marketplaces and own delivery services in the Middle East, allowing it to add restaurants to its marketplaces that either do not offer deliver services themselves or intend to discontinue their own delivery services. This hybrid business model reflects a wider shift across several regions with a growing demand of customers and restaurants for such combined services. The acquisition ensures that Delivery Hero will stay at the forefront of this shift. Nik...

24May By PriyankaNo Comments

FUNDING

Box8 Raises 7 Crores Additional Funding From Series B 50 Crores

BOX8, one of the India's fastest growing food delivery startups has raised Rs. 7 Cr in venture debt funding from Trifecta Capital, in addition to Rs. 50 crores raised in series B round raised from IIFL Seed Ventures Fund & Mayfield. Started by two IIT graduates, Amit Raj and Anshul Gupta, BOX8 is a full stack online food delivery player that specializes in preparing and delivering delicious Indian meals across Mumbai, Pune and Bengaluru. It serves around 14000 meals everyday through a network of 65 plus stores. "Venture debt is an excellent proposition; since it provides access to debt where traditional bank lending doesn't participate, and does that without diluting equity, unlike venture capital. This will help us maintain a balance in our financial structure and at the same ti...