The food delivery service reported a consolidated net profit of Rs 175 crore for Q4 FY24, a significant turnaround from the Rs 188 crore loss in the…
These developments come on the heels of the company receiving tax demands and penalty orders from authorities.
He added that earlier large orders were handled by multiple delivery partners and the customer experience was not what the company aspired for.
By integrating Simpl's 1-Tap Checkout into Zomato, both companies anticipate the participation of millions of new and existing users, broadening…
The company recorded an increase in total expenses, reaching Rs 3,383 crore, up from Rs 2,485 crore in the same period last year
The Tata Neu app currently features a food category section, displaying menus exclusively from restaurants affiliated with the Tata Group's…
Zomato announced that its subsidiary, Zomato Payments Pvt Ltd has received approval from the RBI to function as a payment aggregator.
This move follows the company's introduction of the platform fee model in April 2023, where an initial extra charge of Rs 2 was applied to…
The investment is part of Zomato's series-I financing round.
It's a significant 7 million up from the previously disclosed 21 million run rate for October.
The move comes after FSSAI had directed the food delivery platforms to de-list all unlicensed and non-registered restaurants from their listings.
Prior to joining Zomato, Thomas was partner at legal firm Khaitan & Co.
Ctrip is in talks to invest around $100 million in online restaurant discovery and food-delivery platform Zomato.
FSSAI, in July, had instructed all major foodtech players to delist non-compliant restaurant partners to ensure food hygiene and safety.
Goyal also mentioned that he would be the last person to stop anyone from starting up on their own. “We need more entrepreneurs in our country, not less,” he added.
In an analyst call, Goyal said Zomato was already positive on cash flow with its adjusted EBITDA losses at Rs 150 crore and other income was Rs 170 crore in the first quarter of the ongoing fiscal.
After the sale, Tiger Global now holds a 2.77% stake in the company, the filing shows.
The department of consumer affairs directed e-commerce FBOs to transparently show consumers the breakup of all charges included in the order amount such as delivery charges, packaging charges, taxes, surge pricing etc.
UrbanPiper clientele includes brands like McDonald's, Pizza Hut, KFC, Subway, Cure Foods, Taco Bell, Rebel Foods among others.
If Zomato Instant works as envisioned, it will create significant impact on Affordability (at least 50% reduction in cost to the end customer), Accessibility (reduction of delivery time from 30 minutes average to under 10 minutes), and Quality.
The company also plans to use a part of the raised capital to introduce multiple ROI based models to help the F&B businesses scale.
“We deeply care about how we do, what we do. So, the first thing we told ourselves when we thought about instant food delivery was ‘no compromises’. We narrowed down to these eight principles around which we are building Zomato instant,” added the company
The proposed investment is subject to fulfilment of certain customary conditions precedent and other terms and conditions agreed under the investment agreement executed between the parties.
Starting Jan 1, food aggregators like Swiggy and Zomato will have to collect and deposit tax at 5 per cent rate.
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