- Exclusive: Zomato on course for $1 billion IPO without investor exitsThe Zomato IPO—slated for later this year—is expected to raise $750 million to $1 billion through a 100% primary offering, keeping in mind the long-term upshot that the investors expect from the stock.
- Zomato restarts hiring via referrals after pandemic layoffsZomato, which is drawing up plans for an IPO later this year, is looking to bring on board 400 people during 2021, mostly via the referral mode to get the right people and keep a check on attrition.
- Restaurants are looking beyond Swiggy, Zomato for food deliveryPremium restaurants—from Masala Library to Mamagoto—are tying up with hyperlocal delivery startups, such as Dunzo and Shadowfax, for food delivery at half the commission charged by Swiggy and Zomato.
- Zomato hikes delivery partners' pay to counter sky-high fuel pricesZomato has already rolled out the new remuneration model in 40 cities and will roll it out in other cities in the coming week.
- Zomato closes $250 million funding round at $5.4 billion valuationZomato has benefited from a revival in the online food ordering sector after a few tough months last year due to the nationwide lockdown, imposed to check the spread of the Covid-19 pandemic.
- ETtech Evening Briefing on Feb. 23, 2021: Facebook ends Australia news blackout, Zomato zoomsFacebook to turn back on news sharing on its platform in Australia. Fresh funding pushes Zomato’s valuation to $5.4 billion ahead of an IPO. A US-based Indian entrepreneur claims a big stake in Paytm parent.
- Zomato increases paid-up capital in pre-IPO moveZomato has restructured its capital base to create 8.80 billion new shares, increasing the paid-up capital of the company by three times ahead of a planned IPO.
- Zomato set to close $500 million pre-IPO funding roundWith the fresh capital, Zomato is expected to have a valuation of $5.5 billion and $1 billion in cash as it inches closer to an initial public offering (IPO) by June this year.
- Swiggy in talks to close $700-800 million funding roundSwiggy's latest funding round, if successful, would peg the foodtech startup's post-money valuation at around $5 billion. Rival Zomato, meanwhile, has restructured its capital base ahead of a potential IPO.
- ETtech Deals Digest: Innovaccer, Infra.Market become unicorns, Zomato’s funding spreeThe week through 26 February was one of large funding deals, with Tiger Global emerging as a common thread among three of them.
- Zomato’s revenue nearly doubles, loss widens 160% in 2019-20Zomato, which is preparing to launch an IPO in the first half of 2020-21, recently closed a $660 million funding round at a post-money valuation of $3.9 billion.
- ETtech Morning Dispatch on Feb 12, 2021: Swiggy’s war chest against Zomato, Crypto under threat in IndiaSwiggy is in talks to close a $700-800 million funding round, even as Zomato IPO plans take shape. Contours of India’s Cryptocurrency Bill may trigger legal tussle. Carmakers are scouting Mahindra Electric for the powertrain that will go into XUV 300 EV.
- Food delivery recovery at pre-Covid levels: ZomatoAmong the larger cities, while Delhi and Mumbai are nearing full recovery, metros such as Bengaluru, Hyderabad and Chennai are still behind the curve.
- CAIT alleges Amazon, Flipkart, Zomato and Swiggy of flouting rulesCAIT Secretary General Praveen Khandelwal said that Rule 10 of Legal Metrology (Packaged Commodities) Rules, 2011, provides that e-commerce entities have to display details of the manufacturer, 'country of origin' and common/generic name of the product, MRP, and dimensions of the commodity, among others.
- New investors may bring $150 million to Zomato's tableMirae backed Zomato’s closest competitor, Swiggy, earlier this year through another vehicle — Mirae Asset Capital Markets.
- Google notice to Swiggy, Zomato for ‘violation’ of Play Store rulesFor both the food delivery companies, major cricketing event IPL has been touted as the best time to garner a larger share of consumer minds as well as wallets, and gamification features were a part of increasing engagement on the app.
- Swiggy, Zomato record highest ever orders for New Year's Eve dinnerThe surge in online food ordering for new year's eve dinner bolstered hotels and restaurants, which otherwise saw a slump in dine-ins due to covid-related curfews in many large states.
- Tiger & Kora in $250 million Zomato funding roundFor Zomato, the new round of financing comes amid uncertainty surrounding the India strategy of its prominent backer - China's Ant Financial
- Zomato closes $660 million funding round at post-money valuation of $3.9 billion: CEOZomato is also in the process of executing a $140 million secondary transaction, about $30 million of which has already been distributed among former employees, providing them with liquidity.
- Swiggy, Zomato & Co. set to end 2020 with a bangFood delivery platforms, hotel and restaurant chains are expecting a boost in deliveries and takeaways this month and on new year's eve owing to continuing curbs in states, fears of UK Covid strain.
- You are not alone. Zomato CEO orders in food every dayDeepinder Goyal shared a 45-second video of his order history from Nov 8 to Dec 17, this year.
- Food delivery volumes in India reach pre-Covid-19 peaks: Zomato's Deepinder GoyalSince March 23, Zomato has delivered 92 million orders, with no reported cases of Covid-19 transmission through food delivery, or its food delivery agents, Goyal said.
- Bijnis, a B2B platform, closes secondary share saleZomato’s Deepinder Goyal and Policybazaar’s Sarbvir Singh are among the startup founders and executives who have purchased Bijnis shares from existing early investors.
- ETtech Morning Dispatch on March 3, 2021: All aboard the tech IPO train!Here's a look at the top tech news to start your day.
- Are some share swap deals a fraud? Buffett thinks soShare swap deals are often used by companies to acquire other companies, especially when they happen at "imaginative" valuations.
- Zomato partners with InCred to provide credit facilities to restaurant partnersThe InCred-Zomato tie-up will extend financial assistance to cash-strapped businesses for meeting their business growth and working capital needs.
- Zomato, Swiggy score 1/10 on working conditions for workers: ReportWhile Swiggy, Zomato and Uber scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, a Fairwork India report shows.
- Zomato eyes IPO by first half of 2021 as Tiger Global, others join roundFor Zomato, the new round comes amid uncertainty surrounding the India strategy of its prominent backer — China’s Ant Financial, which holds 25% in Zomato and had committed to investing $150 million in January.
- Airtel launches ad tech platform to tap $10 billion digital advertising market“Airtel Ads allows brands of all sizes to curate consent based and privacy safe campaigns to one of the biggest pool of quality customers in India,” Bharti Airtel said in a statement on Wednesday.
- ETtech Morning Dispatch on Feb 23, 2021: Jio's $200 million bet on Kalaari, Indian fintech lenders gainHere's a look at the top tech news to start your day.
- An alternate delivery channel: What began as a Covid-time experiment is now being explored by all restaurantsIndustry executives said D2C channels also allow the restaurants to customise guest experiences and access to direct customer feedback instead of routing it through third-party aggregators.
- Zomato will go public by first half of 2021, as Tiger Global, others join financing roundFor Zomato, the new round of financing led by US and Singapore-based financial investors comes amid uncertainty surrounding the India strategy of its prominent backer — China’s Ant Financial.
- Zomato revenue doubles to $394 million in FY20In the first quarter of the ongoing fiscal year, the company's Ebitda loss stood at $12 million on revenue of $41 million and unit economics of its food delivery business improved.
- Zomato’s secret growth engine: A farm-to-fork business unitAs Covid-19 jolts both the food ordering and dining out business for Zomato, one arm of the company did brisk business.
- In December, there was positive growth in Naukri biz in terms of billing: Hitesh OberoiIn both Naukri and 99acres we expect Q4 to be a lot better than Q4, says Info Edge India MD & CEO.
- Zomato delivery partners protest 'China Funding'The videos of these protests, which show a group of purportedly Zomato employees burning the company uniform, first surfaced on Twitter.
- Zomato makes its takeaway service available to restaurants at zero commissionZomato looks at food takeaway as a gateway for restaurants to expand avenues to bring back customers while also providing more options for users who consider takeaway safer than delivery.
- Marriott partners with Zomato for home delivery serviceZomato said it will execute contactless delivery on all pre-paid orders, which involve a delivery partner leaving the food at the doorstep rather than an in-person exchange.
- ETtech Morning Dispatch on Feb. 11, 2021: Twitter breaks its silence, Koo finds its voiceGovernment says Twitter must follow Indian laws. Delhivery and Zomato firm up their IPO plans. How Tim Cook transformed Apple after Steve Jobs.
- Food delivery services like Zomato, Swiggy regain 80% of pre-Covid sales: SurveyRestaurants in residential areas were found to be doing 50% better than those in commercial areas and consumers are moving their spends from eating out to home delivery.
- Swiggy, Zomato, others asked to cut offers, commissionTypically, online platforms charge 20-25% of order value as commission, depending on multiple factors like brand, exclusivity and consumer reach.
- Zomato 'Gold' becomes 'Pro' with nearly 50% more restaurantsZomato last year became one of the targets of a #Logout campaign initiated by some restaurants for allegedly facilitating discount addiction among customers through its Gold subscription programme.
- Retailers displeased as Swiggy, Zomato start delivering alcoholRetailers in states such as Maharashtra, Odisha and Jharkhand don’t want food delivery apps entering the highly state-centric and excise-regulated liquor space.
- Zomato COO Gaurav Gupta moves into a new roleGupta said he would exclusively focus on the nutrition business, which he sees as a value driver for the food delivery company
- Zomato, Swiggy renegotiates exclusivity contracts with restaurantsWhile each contract was negotiated with different terms, it could range from a flat onboarding one-time payment, monthly assured payments, lower commissions, and higher visibility on the app for the restaurants.
- Budget 2021: FM races to fix flaws in labour modelThe Finance Minister Nirmala Sitharaman’s first post-Covid budget had several measures to bring the unorganised working class into the mainstream economic fold.
- Mandi alternatives: How agri-tech startups beat the lockdown bluesWhile the farmers’ union protests against the Centre’s agriculture reform ordinances, now bills, the alternative path for farm produce that these legislations seek to open up — outside the mandi chain — has been evident for the past six months.
- Alcohol orders to add fizz to Swiggy and ZomatoFood delivery app Swiggy has started doorstep delivery of alcohol in Jharkhand, while rival Zomato told ET that it plans to launch the service on Friday.
- Zomato introduces contactless diningContactless dining, Zomato said, will minimise customer contact with anything that someone else might have touched, by eliminating use of high-touch elements.
- Fidelity, D1 Capital likely to invest $100 million in ZomatoZomato confirmed it has also raised about $145 million from Baillie Gifford, and new investors Mirae Asset-Naver Asia Growth Fund, US hedge fund Luxor Capital and private equity firm Bow Wave Capital and Steadview Capital
- From Oyo to Zomato, startups soften pay cuts by expanding Esops poolCompanies may grant 12-15% of their overall stockholding to ESOPs to help staff hit by cuts, furloughs.
- MobiKwik joins IPO queue, eyes public listing by 2022MobiKwik joins the league of startups such as PhonePe, Paytm and Zomato that have publicly announced their plans to go in for Initial Public Offerings.
- Sweet news for food delivery companies like Zomato, Swiggy; volumes up, order values tooThe upward swing comes in a quarter where these food delivery apps saw a significant dip in orders to less than 3,00,000 per day in April as restaurant supply and overall customer demand cratered during the Covid-19 induced lockdown.
- Zomato co-founder's new startup to offer mental health onlineThe mobile app provides meditation and yoga content through a mixture of live classes and an on-demand library of audio and video content.
- Mother Dairy ties up with Zomato to home deliver fruit, vegetables in NCRIn the first phase, Safal, which sells 270 tonnes of fruit and vegetables a day in the region, has initiated delivery in a radius of 10 km around 11 of its 300 outlets.
- From Oyo to Zomato, Covid-hit companies renegotiate for breathing space on rentalsCompanies are toying with the idea of giving up a floor, consolidating offices, and shutting down regional divisions, among other measures, to reduce long-term fixed asset costs.
- Indian startups like Grofers, Zomato start restoring salaries after pay cutsWhile the country's economy has gradually begun to open up, albeit under a tight leash, the startups are beginning to reinstate the salaries that had been slashed in the April-June quarter.
- Zomato names Akshant Goyal as new Chief Financial OfficerGoyal is the third company executive to hold the finance portfolio in the last two years.
- Zomato denies rumors of delivery staff contracting coronavirusZomato said that all the customers who came in contact with the restaurant’s employee have been contacted by the relevant authorities.
- Nivea partners with Swiggy, Zomato for delivery of hygiene productsThe service, which was initially started in Mumbai last week, has now been extended to over 30 cities, including Delhi, Mumbai, Bengaluru, Kolkata, Jaipur, Bhopal, Indore, Raipur, Kanpur, Nivea India said in a statement.
- Sequoia top backer of Indian unicorns with eight bets, China's Tencent 11th with 3 investments: ReportFantasy gaming company Dream11 - which recently won the title sponsor rights for the IPL cricket league after a Chinese handset maker had to be dropped out - is one of the three companies backed by Tencent, as per the report.
- Ant talks of significant influence over PaytmAnt Group's stake in the Paytm parent would be pegged at about $5 billion, based on the $16 billion valuation ascribed to its business when the startup raised $1 billion in November 2019.
- Vy Capital buys Urban Company Esops worth $5 millionAccording to Urban Company chief executive Abhiraj Singh Bhal, about 183 employees, across designations and roles, were eligible to participate in the latest Esop transaction, of which about 120 people, ranging from call centre executives to senior leadership, took part.
- ETtech Morning Dispatch on 22 Jan. 2021: Top tech news to start your dayFrom Zomato's $500 pre-IPO funding round to Wingeeens's acquisition of Raw Pressery, here are the must-read top tech news today.
- After delay in China-based investment, Singapore's Temasek to pump $100 million in ZomatoAn existing Zomato backer, Temasek's potential funding is part of a larger investment round that the Gurgaon-based company has been negotiating since the end of last year.
- Zomato places an order for Grofers at $750 million valuationJapanese conglomerate SoftBank Vision Fund, the largest shareholder in Grofers, may look to invest around $100-200 million in the merged entity, sources close to the matter said.
- Cashing in on Covid-19 lockdown, Zomato wants to deliver alcohol to youZomato wants to cash in on the high demand for booze during the country's Covid-19 lockdown.
- ETtech Deals Digest: Razorpay, Zomato, Ninjacart raise funds this weekA quick look at this week's most important investments in the tech and startup space.
- There’s more than food on plate of delivery firms Swiggy and ZomatoThis comes at a time when both food aggregators have made a big push in delivering grocery and products for daily use during the ongoing nationwide lockdown.
- Walmart's Flipkart eyes alcohol delivery foray with Indian startup, letters showFlipkart and Amazon's interest in delivering alcohol in India marks a bold move to make inroads into an alcohol market that is worth $27.2 billion, according to estimates by IWSR Drinks Market Analysis.
- Zomato, Swiggy orders drop 70% in 10 DaysOnline food delivery orders for Zomato & Swiggy have dropped 70% in the last 10 days to under 1 million a day.
- Covid-19: Hygiene tops menu for Swiggy, ZomatoCustomers have also expressed concern about the health of delivery partners given their exposure to multiple people. In fact, Red-Seer Consulting has forecast a 30% drop in food delivery volumes in India for early March.
- BharatPe hires Zomato’s Head of Sales to lead growthJain has worked in leadership roles with Pepsi, the Coca Cola Company & more recently with Zomato.
- Zomato starts ‘Talent Directory’ to help its laid off employees find new jobZomato has created a Zomato Talent Directory for employers to access employee profiles listed on its forum.
- FieldFresh Foods ties up with Zomato, Swiggy, Dunzo for home deliveriesUnder the partnerships, Del Monte range of premium food products, including tomato ketchup, mayo, pasta, olive oil and fruit drinks will be delivered to consumers' homes amidst the continuing lockdown.
- Swiggy, Zomato begin home delivery of alcohol; Amazon enters Indian food delivery marketE-commerce giant Amazon with deep pockets has entered the vast online food delivery market in India, with launching Amazon Food at select pin codes in Bengaluru. Leading food ordering and delivery platforms Swiggy and Zomato on Thursday said they have started home delivery of alcohol in Ranchi and plan to expand it to other cities going forward.Swiggy, Zomato begin home delivery of alcohol; Amazon enters Indian food delivery market
- Finding winners: How this investor discovered successful entrepreneursOne of the mantras to build a flourishing business involves having a loyal investor.
- Zomato kicks off grocery deliveries in India amidst Covid-19 lockdownThe aim here is to ensure last-mile delivery of essentials to households in India during the Covid-19 lockdown.
- Court restricts CureFoods from selling movable assetsThe company had sent a termination notice claiming that it was unable to do business owing to the Covid-19-induced lockdown.
- Flipkart, Zomato, other startups' top brass reach office first to allay staff fearsMost startups have allowed employees to continue working from home, for roles that may not require them to commute to offices, although the government has greenlighted office travel.
- COVID-19 impact: Zomato to layoff around 13% employees and cuts salaries across organisationZomato, a unicorn in the online food delivery space, will let go of 13% of its workforce and cuts salaries across the organisation to tackle the COVID-19 India crisis. The company has around 4,000 employees in different roles. Here's a report by ET NOW's Chandrar Srikant. Watch.COVID-19 impact: Zomato to layoff around 13% employees and cuts salaries across organisation
- Zomato to lay off 13% of its staff as Covid-19 severely impacts food ordering businessZomato has said it will let go of 520 people and undertake up to a 50% pay cut for remainder of the organisation.
- Zomato, Swiggy get notices from Google for violating Play Store norms"Yes, we have received a notice from Google. We believe that the notice is unfair, but we are a small company and have already realigned our business strategy to comply with Google's guidelines," a Zomato spokesperson said in an e-mailed response.
- Zomato raises $195 million in funding from 6 investors, valuation touches $3.6bnUpon closing of the fund raise, Info Edge's shareholding in Zomato shall stand reduced to about 20.8% on fully converted and diluted basis, it added.
- Jan Sevak, the Swiggy of citizen services to start on January 15 in BengaluruThe government will offer the services at Dasarahalli, Mahadevapura, Bommanahalli, Yeshvantpur, Rajajinagar and Bengaluru South.
- Drip funding: Swiggy, Zomato settle for smaller cheques of $5-10 millionFood delivery companies take offers of $5-10 million in tough conditions.
- Battered by Covid-19, Oyo terminates lease contracts for two Gurgaon officesThe Covid-19 pandemic has resulted in Oyo undertaking a significant number of employee layoffs and furloughs, enforcing pay cuts and shuttering properties across markets, as it looks to restructure operations across the globe.
- Covid-19: Orders on Zomato, Swiggy go down by 60%Zomato said it has been operating at 30% delivery capacity. The company has also been facing issues across cities while delivering food despite being classified as an essential service.
- Startups like Zomato, Oyo offer more Esops to staff to ease pay cut painIn April, Zomato initiated a voluntary salary reduction programme, which also offers affected employees’ additional stock in lieu of the cash cut from their pay cheques.
- Tata Consumer Products ties up with Domino's Pizza, Zomato to deliver essential goodsThese channel partnerships have been done in a phased manner, with Flipkart being the first e-commerce platform to enable the availability of its essential products in Mumbai, Bengaluru and Delhi.
- Zomato smells opportunity in groceries, pings Grofers, BigBasketThis is a major step towards diversification and a move to keep demand high at a time when most businesses are registering a slowdown. Online food ordering has taken a hit in the past week with order numbers falling by as much as 20%.
- Zomato lets go of exclusivity for cloud kitchensThe move — which essentially allows these restaurants to list on rival platforms such as Swiggy — underlines a major shift in strategy for Zomato.
- Some Chinese VCs looking for a quick exitThe venture capital and individual investors exploring exits currently own about 4-5% in Indian companies, with some holding less than 2%.
- Zomato acquires Uber Eats in an all-stock transactionThe all-stock transaction will give the US-based ride-hailing company about 10% shareholding in Gurgaon-based Zomato.
- E-commerce companies like Amazon, Flipkart seek time to comply with labelling ruleCompanies have been asked to provide feedback within a fortnight about the modalities after discussing it with sellers on their platforms.
- HSBC's brokerage arm pegs Zomato's valuation at $5 billionTaking stock of Zomato's publicly traded shareholder Info Edge, the Gurugram-based company could add $2 billion in market capitalisation to Info Edge over 3-4 years, the brokerage firm said in a report published recently.
- 91springboard raises Rs 45 crore in fresh fundingAs soon as the lockdown was announced in March, 91springboard had paused it’s billing cycle on membership plans offering some respite.
- Paytm, Zomato, BigBasket, others could run into India’s great FDI wallChinese investors have emerged as the biggest backers of the country’s startup economy.
- Punjab government ties with Zomato, Amul, Swiggy, chemists for doorstep supplyPasses were also being issued to authorized vendors for the supply of essential goods, according to DGP Dinkar Gupta, adding that for home delivery of Medicines, in particular, necessary tie-ups are being made with the respective Chemist Associations, so that orders can be taken on phone and home delivery is accordingly undertaken.
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