Zomato is an Indian multinational restaurant aggregator and food delivery company. Based in Gurugram, a satellite city of India's capital New Delhi, the company was founded in 2008 as Foodiebay, and was renamed Zomato in January 2010 as Zomato Media Pvt Ltd. It offers services like home delivery of food, restaurant discovery, menus, reviews, online table reservations, special discounts while eating at select restaurants, and digital payments when dining out. It also works with restaurant partners to provide tools that enable them to engage and acquire more customers while empowering them with a last-mile delivery service and a one-stop procurement solution – Hyperpure, for ingredients and kitchen products. As of March 2021, Zomato was present in 525 cities in India, with 3,89,932 active restaurant listings along with a presence in 24 countries and in more than 10,000 cities outside India. Deepinder Goyal is the founder and chief executive officer (CEO) of Zomato. On July 23, 2021, Zomato went public, opening its Initial public offering (IPO) at a price band of Rs 72-76 per share. It made a stellar debut on Dalal Street as the stock opened at Rs 116 on the NSE, a 52.63 percent premium to its final offer price of Rs 76. The listing price on the Bombay Stock Exchange was at Rs 115, up 51.32 percent. More
A few Indian startups like Mukunda Foods, Xook and On2Cook are trying to build the so-called food-as-a-service (FaaS) business by adding robotics to the kitchen menu. These machines guarantee to prepare food faster with consistency without or minimal manual labour
Zomato chief Deepinder Goyal had used the “Day One” phrase less than 48 hours before Ashneer Grover’s tweet.
Camas Investments Pte Ltd, the subsidiary of Singapore-based sovereign wealth fund Temasek, picked 9.8 crore shares or 1.14 percent shareholding in Zomato at an average price of Rs 62 per share.
Bikhchandani's comments were in response to a passage from Grover's book, where Grover said how a founder should not shy away from liquidating their stock at every secondary sale opportunity.
A Swiggy spokesperson said the expansion into Delhi-NCR was an experiment.
While the buyers and sellers were not known, sources said Alibaba pared its stake from 13% to 10%, selling shares worth $200 million through subsidiaries Ant Financial and Alipay
European markets settle marginally lower as trader’s monitor China’s COVID-19 policy. Stoxx600 gave up early gains to settle flat with a negative bias. FTSE outperformed, ending 0.5 percent higher. Natural rubber prices slid to 2-year lows. But is it good times ahead for tyre companies? On the technical front, we put the spotlight on Zomato, Gland Pharma and Bharat Bijlee.
Ant Financial and Alipay, through which Alibaba has invested in Zomato, would bring down their stake to about 10 percent, by selling shares in Zomato at a 5-6 percent discount, CNBC Awaaz has said
Alibaba to sell Zomato shares worth $200 million via block deal
Top managers of Paytm got ESOPs worth Rs 564 crore in H1, those of Zomato got ESOPs worth around Rs 380 crore
New-age company stocks have started falling again since last week after the lock-in period for Nykaa and Delhivery shares held by pre-IPO investors lapsed
Deepinder Goyal said he is sharing a series of “me-made” posters in the Zomato office reception to “drive culture” at the company.
Mohit Gupta’s exit follows that of Rahul Ganjoo, Head of New Initiatives, and Siddharth Jhawar, Head of Intercity Legends. In August, Nitin Savara, Deputy CFO, resigned to start something new.
The government has finally removed duties imposed on export of steel and iron ore products in a massive relief to the sector. CJ believes that this will boost sentiment towards the sector, but Santo is not convinced if there is any near-term benefit. Watch as the duo dissect the implications of the government's move on steel stocks. Plus they share their thoughts on HDFC, IEX and Zomato.
At least 100 employees have been already impacted across functions such as product, tech, catalogue and marketing. The company plans to layoff atleast 4 percent of its total workforce.
Amid a meltdown of tech stocks, the food delivery company has suffered in the public market this year as its stock price has fallen by more than 50 percent from its peak of Rs 162 on the BSE.
There’s a large opportunity in this space to build from India for the world, says the co-founder of venture capital major Accel India and Board member at ACT.
The new-age companies, after having spent some time under greater public scrutiny on listing, there's a clear shift in attitude. From the steps taken to management commentary and operating performance views - one thing looks clear that becoming profitable is at a top priority
Our specially curated package of the most interesting articles to help you stay at the top of your game.
Two prominent brokerages take widely different views on profitability and growth of the foodtech platform
From November 24, users of the app will be redirected to online food ordering company Talabat, to which Zomato sold its UAE-based food delivery business in 2019.
Profitability by FY24 is likely to come at the cost of the growth in the food delivery business
Chances look bright for the Nifty50 to move towards the record high of 18,604 in the coming days if the momentum sustains and global markets support, with crucial support at the psychological 18,000 mark, said experts. They advise to continue with the 'buy on dips' strategy
HDFC was the biggest gainer in the Nifty50, rising 6 percent to Rs 2,651.70 and formed robust bullish candle on the daily charts with high volumes after consolidation for several sessions. Also it has given a healthy breakout of long downward sloping resistance trend line adjoining November 15, 2021 and November 9, 2022.