08 February 2016
New Delhi: Zomato, UAE's largest online restaurant discovery and online ordering app, on Monday announced operational break-even of their businesses in India, the Middle East (UAE, Lebanon and Qatar) and Southeast Asia (Philippines and Indonesia).
"We have always been paranoid about revenue, and therefore building a sustainable business. We have more than doubled our revenue year-on-year for the last few years, and we are going to post some great growth numbers this year as well. We are profitable in 6 of the 18 markets we are the market leaders in. This proves our long-lasting conviction in our business and the fact that we are on road to create the first truly global consumer internet company out of India" said Deepinder Goyal, Founder & CEO of Zomato.
"We can now channelise the profits to grow faster and compete harder in countries where we see significant competition. It's a great thing that we don't fully depend on external funds to fuel all the experiments and initiatives that we have undertaken in India and elsewhere. This is a great confidence booster for us and now is the time to double down on growth, and what I call defending our turf in the markets we are strong in.", said Pankaj Chaddah, Co-Founder of Zomato.
Pankaj Chaddah has been leading Zomato's foray into the online ordering business since November last year. Zomato has seen the number of orders per day quadruple in the last three months since Pankaj starting driving the online ordering business at Zomato.
Zomato started in India in 2008, and expanded to Dubai in its first international foray four years later. In the last three years, Zomato has expanded its operations to 23 countries, and is the market leader in 18 of them. Zomato also made 8 overseas acquisitions in various countries, including Urbanspoon in January 2015 for US$52m. Zomato has raised US$225m to date.
22% of Zomato's traffic and 35% of Zomato's revenue comes from India. Zomato's India business gets over 10 million monthly uniques, making it the largest player in the food tech space in the country by far. Recently, Zomato entered the transactions business and now serves over 15,000 orders a day at an average ticket price of Rs 575.
"Zomato has emerged as one of the finest global consumer internet businesses to have come out of India. With a determined team, they have built a cult brand, and maintained a maniacal focus on user experience. They've grown to a position of dominance in most of the markets they operate in, and have scaled revenue with a known path to profit. We are excited by Zomato's growth story so far, and are proud to have partnered with them over the last 5 years to help them grow the company further" said, Sanjeev Bikhchandani, Founder and Executive Vice Chairman, Info Edge India.
"2015 has been a challenging year for food-tech, and the market has seen its fair share of correction in recent months. It's heartening to see Zomato emerging as a strong leader, setting an example of how to build and scale a sustainable business. It takes discipline to maintain a focus on and work towards profitability, and we are proud of the Zomato team for getting here." said Mohit Bhatnagar, Managing Director, Sequoia Capital India Advisors.
-Ends-
About Zomato
Zomato is a restaurant search and discovery app, providing in-depth information for over 1.4 million restaurants across 23 countries. Zomato is used by consumers globally to discover, rate and review restaurants, as well as create their own personal network of foodies for trusted recommendations.
In addition to restaurant search and discovery, Zomato has expanded its offering to include Online Ordering, Table Reservations, aWhitelabel Platform and a Point-of-Sale system, creating cutting-edge technology to connect restaurant businesses and customers in ways that will revolutionise the restaurant industry.
New Delhi: Zomato, UAE's largest online restaurant discovery and online ordering app, on Monday announced operational break-even of their businesses in India, the Middle East (UAE, Lebanon and Qatar) and Southeast Asia (Philippines and Indonesia).
"We have always been paranoid about revenue, and therefore building a sustainable business. We have more than doubled our revenue year-on-year for the last few years, and we are going to post some great growth numbers this year as well. We are profitable in 6 of the 18 markets we are the market leaders in. This proves our long-lasting conviction in our business and the fact that we are on road to create the first truly global consumer internet company out of India" said Deepinder Goyal, Founder & CEO of Zomato.
"We can now channelise the profits to grow faster and compete harder in countries where we see significant competition. It's a great thing that we don't fully depend on external funds to fuel all the experiments and initiatives that we have undertaken in India and elsewhere. This is a great confidence booster for us and now is the time to double down on growth, and what I call defending our turf in the markets we are strong in.", said Pankaj Chaddah, Co-Founder of Zomato.
Pankaj Chaddah has been leading Zomato's foray into the online ordering business since November last year. Zomato has seen the number of orders per day quadruple in the last three months since Pankaj starting driving the online ordering business at Zomato.
Zomato started in India in 2008, and expanded to Dubai in its first international foray four years later. In the last three years, Zomato has expanded its operations to 23 countries, and is the market leader in 18 of them. Zomato also made 8 overseas acquisitions in various countries, including Urbanspoon in January 2015 for US$52m. Zomato has raised US$225m to date.
22% of Zomato's traffic and 35% of Zomato's revenue comes from India. Zomato's India business gets over 10 million monthly uniques, making it the largest player in the food tech space in the country by far. Recently, Zomato entered the transactions business and now serves over 15,000 orders a day at an average ticket price of Rs 575.
"Zomato has emerged as one of the finest global consumer internet businesses to have come out of India. With a determined team, they have built a cult brand, and maintained a maniacal focus on user experience. They've grown to a position of dominance in most of the markets they operate in, and have scaled revenue with a known path to profit. We are excited by Zomato's growth story so far, and are proud to have partnered with them over the last 5 years to help them grow the company further" said, Sanjeev Bikhchandani, Founder and Executive Vice Chairman, Info Edge India.
"2015 has been a challenging year for food-tech, and the market has seen its fair share of correction in recent months. It's heartening to see Zomato emerging as a strong leader, setting an example of how to build and scale a sustainable business. It takes discipline to maintain a focus on and work towards profitability, and we are proud of the Zomato team for getting here." said Mohit Bhatnagar, Managing Director, Sequoia Capital India Advisors.
-Ends-
About Zomato
Zomato is a restaurant search and discovery app, providing in-depth information for over 1.4 million restaurants across 23 countries. Zomato is used by consumers globally to discover, rate and review restaurants, as well as create their own personal network of foodies for trusted recommendations.
In addition to restaurant search and discovery, Zomato has expanded its offering to include Online Ordering, Table Reservations, aWhitelabel Platform and a Point-of-Sale system, creating cutting-edge technology to connect restaurant businesses and customers in ways that will revolutionise the restaurant industry.
© Press Release 2016
