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Zomato Board approves Paytm Insider Acquisition

23Aug By AdityaNo Comments

News

Zomato Board approves Paytm Insider Acquisition

New Delhi, 23rd Aug 2024: Zomato's board of directors has made a significant move by approving a share purchase and subscription agreement aimed at acquiring the entertainment ticketing business Paytm Insider from One 97 Communications, a parent platform of Paytm. This acquisition involves two of One 97's wholly owned subsidiaries Orbgen Technologies Private Limited (OTPL) and Wasteland Entertainment Private Limited (WEPL). The transaction will occur through a slump sale, where One 97 Communications will transfer its movie ticketing operations to OTPL and its sports and events ticketing functions to WEPL. Following this transfer, Zomato will acquire all shares held by One 97 Communications in both OTPL and WEPL, thereby making them entirely owned subsidiaries of Zomato. In additi...

Zomato Launches India’s First “Large Order Fleet” for 50 People

18Apr By PriyankaNo Comments

BUSINESS

Zomato Launches India’s First “Large Order Fleet” for 50 People

Bengaluru, 18th April 2024: Zomato India has recently introduced India's first large order fleet to meet the needs of group events such as parties, with the capacity to serve up to 50 people. CEO Deepinder Goyal made the announcement on the microblogging platform X, formerly known as Twitter, revealing that the company will be utilizing an "all-electric fleet" for delivering large orders. This decision was made in response to previous orders being handled by multiple regular fleet partners, resulting in a less than satisfactory customer experience. "We are excited to unveil India's first large order fleet, specifically designed to handle your group, party, or event orders with ease. This fleet is comprised entirely of electric vehicles, designed to efficiently accommodate orders for ...

Zomato or Paytm? Which Stock is Good For Long Term

29Oct By AdityaNo Comments

Market

Zomato or Paytm? Which Stock is Good For Long Term

Investing in stocks can feel a bit like peeking behind the curtain of a magic show. You know there's something fascinating going on, but you're just not sure how it all works. As a self-proclaimed stock market enthusiast, let me be your guide in this magic show, particularly focusing on two hot Indian stocks - Zomato and Paytm. Analysing Zomato: A Hearty Meal for Your Investment Back in the day, hunting for good food involved a bit of a treasure hunt. Luckily, with apps like Zomato, the treasure comes to us. But let's look beyond the plate—should we be hunting for Zomato stocks? In July 2021, Zomato was listed on the stock exchange. Even in its infancy, the stock looked promising, with an overwhelming response from the market. As an online food delivery service, Zomato has a signi...

Food delivery platform Zomato’s IPO Oversubscribed

14Jul By AdityaNo Comments

Market

Food delivery platform Zomato’s IPO Oversubscribed

Bengaluru, Jul 14th, 2021: India's leading food delivery platform Zomato's initial public offering was oversubscribed on an opening day with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crores, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid. Non-institutional investors put in bids for 13 percent against their reserved portion while 38.88 crore shares reserved for qualified institutional buyers (QIBs) were almost fully subscribed. Of the 38.09 crore shares sought by QIBs, over 36.84 crore was by foreign institutional investor...

Zomato Files for $1.1 Billion IPO, Info Edge will gain $100 million

28Apr By PriyankaNo Comments

Market

Zomato Files for $1.1 Billion IPO, Info Edge will gain $100 million

Bengaluru, 04/28/2021: India-based food delivery company Zomato files for a $1.1 billion IPO, and through this IPO its initial investor Info Edge will earn $100 million (Rs 750 crore) in the initial public offering. In a regulatory filing, Zomato is proposing IPO of its equity shares, comprising a fresh issue of equity shares by Zomato Ltd and an offer for sale by Info Edge (India) Ltd. On a fully converted and diluted basis, Info Edge's effective stake in Zomato stands at 18.4 per cent. "The Board of Directors of the Company today considered and have given their approval to the company to participate in the said Offer for Sale of up to a such number of shares of Zomato Ltd as would aggregate up to $1.1 billion (around 7500 crores)," it added. The terms and conditions of these ...

20Feb By AnkitaNo Comments

FUNDING

Swiggy Raises USD 113 mn in Funding led by Prosus NV

Food ordering and delivery platform Swiggy has raised USD 113 million (over Rs 805 crore) in the latest funding round led by existing investor Prosus NV. Meituan Dianping and Wellington Management Company also participated in the funding round. Having grown beyond food delivery, the company aims to use the funds to further develop its new lines of business, addressing visible gaps in the market, Swiggy said in a statement. The company will continue to invest in new growth areas (Stores, Go and SuprDaily) as it delivers on its promise of bringing unparalleled convenience to the lives of urban consumers, it added. 'We have become synonymous with exceptional customer experience and created multiple growth avenues for our partners while continuing to invest in new lines of business...

Zomato acquires Uber Eats India Operation

21Jan By NitishNo Comments

ACQUISITION

Zomato acquires Uber Eats India Operation

Zomato has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 percent stake in the Indian food delivery and restaurant discovery platform. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. "India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato's ability to grow rapidly in a capital-efficient manner and we wish them continued success," Dara Khosrowshahi, CEO of Uber, said in the statement. In a regulatory filing to BSE, Info Edge (India) a shareholder in Zomato sai...

Zomato Raises USD 150 mn from Existing Investor Ant Financial

10Jan By PriyankaNo Comments

FUNDING

Zomato Raises USD 150 mn from Existing Investor Ant Financial

New Delhi, Jan 10, 2019: India based Online restaurant guide and food ordering platform Zomato has raised USD 150 million (over Rs 1,065 crore) from existing investor Ant Financial as part of a larger funding round. According to a regulatory filing by Info Edge India, which is also an existing shareholder in Zomato, this transaction is at a pre-money valuation of USD 3 billion. The investment is part of a larger funding round of up to USD 600 million, announced by Zomato Founder and CEO Deepinder Goyal in December. "We have raised USD 150 million from Ant Financial as a part of a larger round. Ant Financial has been a steadfast partner in our journey towards achieving market leadership in on-demand food delivery in India, and dining out globally," a Zomato spokesperson said in a s...

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 $...

22Mar By PriyankaNo Comments

INDIA

Zomato introduces tamper-proof packaging in 10 Indian cities

New Delhi: India's leading online food ordering platform Zomato has pushed tamper-proof packaging in 10 Indian cities to add an extra layer of safety for food deliveries. The safety seals are made from a single material polymer and are completely reusable and recyclable. The company would also launch biodegradable versions of packaging, Zomato said in a statement. "This packaging will be 100% tamper proof once the food is sealed by the restaurant, the packet can only be opened by cutting off the top-end strip," it added. In the first phase, this packaging is introduced in 10 cities Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Pune, Jaipur, Chandigarh, Nagpur and Vadodara it said in a statement. Subsequently, it would be introduced in over 180 cities where Zomato's online...

Zomato Forays into Events Space & Set to Launch Zomaland

10Dec By Gauri SinghNo Comments

News

Zomato Forays into Events Space & Set to Launch Zomaland

Online restaurantdiscovery and food ordering platform Zomato has now entered the growing events space and has launched ZomatoEvents. Amongst the other major Indian consumer internet startups that have entered the events space recently,are hospitality chains like OYO and Treebo. “At Zomato, given ourfocus on food, we tend to think of ourselves as a food company, and not just afood-tech company. We fundamentally believe that that the restaurant channel,or the out-of-home food cooking theme will be dominant as well, and we are tryingto grow that as much as we can,” Gaurav Gupta, chief operating officer at Zomato said. As a part of this development, the company a multi-city food carnival called Zomaland that will have street performances, pop-up restaurants and food exhibitions, among...

Swiggy FY18 Revenue Surges 232% Moving Closer to Zomato

29Oct By Gauri SinghNo Comments

BUSINESS

Swiggy FY18 Revenue Surges 232% Moving Closer to Zomato

Food delivery company Swiggy saw a revenue surge in FY18, with operating revenues more than trebling to Rs 442 crore from Rs 133 crore last year. The company has been growing more and more with time and became a unicorn expanding its geographic footprint across the country. Starting from seven cities in March 2017, Swiggy has expanded its operations to 12 cities now. Also, the order volumes increased more than three times during the period. Order volumes doubled in the last four months alone. Swiggy ended September with more than 21 million orders in absolute terms. The company is now inching closer to Zomato which is the largest food delivery company in the market right now. Swiggy earned Rs 1.11 for every one rupee it lost in FY18. Swiggy's losses, however, are far deeper than Zoma...