Zomato is an Indian food delivery startup founded by Pankaj Chaddah and Deepinder Goyal in 2008. In 2008, Zomato was founded as "foodiebay" and then was renamed as "Zomato" on 18 January 2010.
10 Amazing Facts About Zomato
1) In Nine months it became the largest and popular restaurant directory in Delhi.
2) Foodiebay is rebranded as Zomato in 2010.
3) Zomato IPO will be the biggest IPO by a startup in India.
4) Zomato is the only food delivery app that operates in 24 countries.
5) Zomato is present in more than 10,000 cities globally.
6) Zomato's most ordered dish in India is Biryani.
7) Zomato delivered almost 22 Biryani's every minute during the pandemic 2020.
8) Zomato's costliest order Placed was around 2 lakhs rupee order.
9) Zomato gets on an average of 12 lakh orders daily.
10) Zomato is having great marketing campaigns, if it's red in color it is probably a Zomato ad.
How Zomato Started?
Deepinder Goyal and Pankaj Chaddah were alumni of IIT Delhi and working in Bain&Co in New Delhi. In their office, they saw many people were waiting for a long time just to acquire a flash of the menu card. Then they were thinking of a solution to it. They created a website where they uploaded the soft copies of the menu cards and then everyone in their office started using it. This increases their traffic and soon it is available to everyone.
When Foodiebay renamed Zomato on 18 January 2010. In 2011, Zomato expanded across India Delhi, Bangalore, Mumbai, Pune, Kolkata, Chennai. Then in 2012 company expanded operations internationally in several countries like UAE, Sri Lanka, Qatar, UK, etc. In 2015, Zomato launched its services in Lebanon, Ireland, Canada. Foodiebay was renamed Zomato to make it more simple to memorize and also eliminate the confusion with the website eBay.
Zomato Investments/Funding:
Zomato is an Indian food delivery startup founded by Pankaj Chaddah and Deepinder Goyal in 2008. In 2008, Zomato was founded as "foodiebay" and then was renamed as "Zomato" on 18 January 2010.
10 Amazing Facts About Zomato
1) In Nine months it became the largest and popular restaurant directory in Delhi.
2) Foodiebay is rebranded as Zomato in 2010.
3) Zomato IPO will be the biggest IPO by a startup in India.
4) Zomato is the only food delivery app that operates in 24 countries.
5) Zomato is present in more than 10,000 cities globally.
6) Zomato's most ordered dish in India is Biryani.
7) Zomato delivered almost 22 Biryani's every minute during the pandemic 2020.
8) Zomato's costliest order Placed was around 2 lakhs rupee order.
9) Zomato gets on an average of 12 lakh orders daily.
10) Zomato is having great marketing campaigns, if it's red in color it is probably a Zomato ad.
How Zomato Started?
Deepinder Goyal and Pankaj Chaddah were alumni of IIT Delhi and working in Bain&Co in New Delhi. In their office, they saw many people were waiting for a long time just to acquire a flash of the menu card. Then they were thinking of a solution to it. They created a website where they uploaded the soft copies of the menu cards and then everyone in their office started using it. This increases their traffic and soon it is available to everyone.
When Foodiebay renamed Zomato on 18 January 2010. In 2011, Zomato expanded across India Delhi, Bangalore, Mumbai, Pune, Kolkata, Chennai. Then in 2012 company expanded operations internationally in several countries like UAE, Sri Lanka, Qatar, UK, etc. In 2015, Zomato launched its services in Lebanon, Ireland, Canada. Foodiebay was renamed Zomato to make it more simple to memorize and also eliminate the confusion with the website eBay.
Zomato Investments/Funding:
The usage of Zomato has seen an upsurge, the founders decided to simplify the access. Then a mobile application was built to make access easy for users and benefit the people. The founder of job search engine Naukri.com Sanjeev Bikhchandani, he started to invest in the project between 2010 and 2013, Zomato raised approx. The US $16 million from Info Edge India. In November 2013, it raised the additional US $37 million from Sequoia Capital and Info Edge India. In 2018, Zomato raised $210 million from Alibaba's payment affiliate Ant Financial and from many more investors to date.
The business model of Zomato:
Zomato itself does not offer the product to customers, Zomato manages to bring huge revenue from business operations. Zomato has two parts, one is delivering business and second, they are an advertisement business. Let's discuss few Zomato revenue sources. How Zomato is making huge revenue?
1)Advertising:
Advertising is the major source of revenue for Zomato. The restaurant can promote its banner on the site. Zomato charges a certain fee for the banner promotion of the restaurant. Almost 50 to 60% of the revenue of Zomato comes from the advertisement of restaurants on the site.
2) Zomato food delivery:
Zomato's other sources of revenue come from online food delivery. It charges a commission to the restaurant on the basis of food orders. Although it contributes a very low percentage of income compared to other revenue sources.
3) Zomato consultancy:
Zomato is having a huge database and Zomato helps the newcomer in the market with the database and charges a fixed amount for consultancy. Restaurants can go to zomato to know customer's preferences, need,s and many other things. Which can help the business. In return, Zomato charges a fee for the consultancy.
Is Zomato profitable or not?
Zomato which is preparing itself for an IPO in 2021, has reported a staggering 160% jump in its losses for the financial year (FY) 2019-20, while its revenue increased 98% from the previous FY.
A startup like Zomato, which is in its growth phase now. Today their balance sheets are at losses but they are increasing their reach and increasing the sales too. In the future, we hope it will show a better return to its investors and will be profitable.
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