Zomato Promotes Mohit Gupta to co-founder position

The trend of promoting a top executive to position of co-founder is a rare thing for Indian startups but Zomato has now done this rare thing twice in a matter of one year. After elevating COO Gaurav Gupta to co-founder position last year, the foodtech major has now promoted Mohit Gupta, CEO of food delivery…

ByGirish ShettiMay 25, 20200Comments

News

To Cope with COVID-19 Impact, Zomato to furlough 13% of its Staff

With nationwide lockdown severely impacting the restaurant business, it was but natural that the businesses of foodtech majors like Zomato and Swiggy will face a huge brunt. Therefore it did not come as a huge surprise to anyone when Zomato on Friday announced that it will lay off nearly 13% of its workforce. Image source: Flickr The…

ByGirish ShettiMay 15, 20200Comments

Acquisitions

After UberEats, Zomato may Acquire Grofers

India’s consumer internet space may be heading for a big consolidation, with sources claiming that Zomato may acquire online grocery platform Grofers in a all-stock deal. If this high profile deal fructifies then this will be Zomato’s second big acquisition following the buyout of UberEats earlier this year. Image Source: Youtube.com Softbank backed Grofers, which of late…

ByGirish ShettiApril 14, 20200Comments

Acquisitions

$206 Mn: That’s how much Zomato paid to acquire UberEats

US based ride-hailing giant Uber sold its Indian food delivery business – UberEats – to Zomato for $206 Mn, according to company’s latest regulatory filings. Zomato acquired UberEats India business in January in all stock deal, with the latter acquiring 9.9% stake in the Gurgaon based company. However, back then both companies refused to disclose financial…

ByGirish ShettiMarch 4, 20200Comments

News

Why UberEats Sell Off to Zomato is a smart move by Uber

This week marked an important event for ride-hailing giant Uber, after the San Francisco headquartered company finally managed to sell off its UberEats India business to one of the prominent local rivals. Rumors and speculations were rife since last year that the SoftBank backed ride-hailing company is engaged in an intense negotiation to offload its…

ByGirish ShettiJanuary 24, 20200Comments

Acquisitions

It’s official: Zomato Finally Acquires UberEats in All Stock Deal

After months of intense speculations, food delivery major Zomato has finally announced the acquisition of UberEats’ Indian business. The all-stock deal will enable the US based ride hailing giant Uber to acquire 9.99% stake in Zomato. The acquisition deal also paves way for the end of UberEats operation in India. In other words, the brand…

ByGirish ShettiJanuary 21, 20200Comments

Funding News

UberEats May Infuse $100-200 Mn in Zomato in a Merger Deal: Report

It is no secret that UberEats India, owned by the US based ride hailing giant, is desperately on a lookout to search for a new buyer to sell off its loss making business. After its negotiation with Swiggy failed earlier this year, UberEats has now turned towards the other incumbent market leader – Zomato. Several…

ByGirish ShettiDecember 16, 20190Comments

News

Foodtech Major Zomato trims Cash Burn Rate by more than 50%

It is no secret that foodtech sector’s overreliance on the strategy of deep discounting has resulted in higher cash burn rate, eventually leading to erosion in profitability and piling up losses. Therefore it is no brainer that success of any foodtech company would depend on its ability to control its cash burn rate. It seems that…

ByGirish ShettiNovember 13, 20190Comments

Funding News

New Funding Round is all set to be Served on Zomato’s Platter

With UberEats and FoodPanda scaling down their businesses, it is now no secret that India’s foodtech sector is proving to be a major cash guzzler. The current two incumbent players Zomato and Swiggy are certainly expected to take advantage of the ongoing consolidation but even this won’t be possible without both keep raising funds at…

ByGirish ShettiOctober 4, 20190Comments

News

To cut Operational Cost, Zomato Fires Nearly 100 Employees

Foodtech major Zomato has fired nearly 70-100 employees from its customer support team in Gurgaon in its latest cost-cutting drive. The Gurgaon headquartered startup has confirmed the development. However, the company claims that downsizing of the support team is not due to financial non-performance but correction carried out owing to improvement in overall service quality. Zomato…

ByGirish ShettiAugust 8, 20190Comments

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