Zomato's revenue jumps 3-fold to $206 million in FY19
Zomato's revenue jumps 3-fold to $206 million in FY19

Zomato, the food delivery and restaurant discovery company, has posted a three-fold jump in revenue to $206 million for the year ended March, driven primarily by its core food delivery business. The company had posted $68 million revenue in FY18.

The Gurgaon-based company's current annual revenue run rate is $350 million. However, it has incurred a huge cost of $500 million in FY19, up from $80 million in FY18.

Deepinder Goyal, Founder & CEO, Zomato, said, “In March 2018, when we were planning for FY19, we set an audacious goal of $180 million and most of us thought that this was near impossible, but the team worked backwards from there and comfortably beat the goal.”

“We now lose Rs 25 per delivery, compared to Rs 44 per delivery in March 2018. Our last mile cost per delivery is now Rs 65, compared to Rs 86 in March 2018. The key driver metric of unit economics, the number of deliveries per rider per hour, has gone up to 1.4 from 0.9 last year,” he added.

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