Zomato's losses swell to Rs 2,451 crore in FY20

It stated that three units continued to grow with even the unit economics in online ordering improving significantly with lower logistics cost and user discounts.

The company also said the COVID-19 pandemic-induced lockdown in March, 2020, hit it hard, bringing down the order volumes significantly and causing a huge reduction in dine out revenue.

Zomato records highest ever order velocity, says CEO Deepinder Goyal

"We are working on number of products to address this loss, like introducing contactless dining and delivery/takeaway products in certain geographies outside of India," it said in the regulatory filing.

The company recently raised $660 million primary financing round, valuing it at $3.9 billion as it inches towards a potential initial public offering (IPO).

Ten new investors, including Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie Gifford, Mirae, and Steadview, participated in the funding round. On top of this $660 million, Zomato is also in the process of closing a $140 million secondary transaction and has already provided liquidity worth $30 million to its ex-employees.

Zomato plans to file for an IPO in the first half of next year, although whether it will list in India or the US is unclear.

If Zomato’s plans fructify, it will be the first internet IPO since B2B online player IndiaMart InterMesh made its debut on D-street in June 2019. Local search engine company Just Dial ( in 2013) and Info Edge (an investor in Zomato which debuted way back in 2006) are two other instances of internet IPOs on the domestic bourses.

Online travel company MakeMyTrip listed overseas on the Nasdaq in 2010.