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Video Introduction:
In February 2018, Zomato became a unicorn startup after raising US$200 million from Ant Financial at a valuation of US$1.1 billion.Later that year, it shut down operations of Zomato Infrastructure Services. In 2018, it acquired WOTU and rebranded it as Hyperpure to supply food ingredients such as grains, vegetables and meat to restaurants from its warehouses.
In September 2019, the firm laid off almost 10% of its workforce (540 people) tending to back-end activities like customer service, merchant and delivery partner support functions.
In April 2020, due to a fall in food delivery and a rising demand for online grocery ordering amid the COVID-19 pandemic, the firm began delivering groceries and essentials under a service named Zomato Market in 80+ cities across India.In April 2020, Zomato introduced contactless dining at its partner restaurants. In May 2020, Zomato also began delivering alcohol in West Bengal, Jharkhand and Odisha after obtaining the permission of the governments in these states. In May 2020, Zomato further laid off 520 employees due to the COVID-19 pandemic.
Zomato closed operations of Zomato Market in June 2020 as demand for food delivery recovered and grocery delivery business “was not scalable”. In April 2021, it pulled out of alcohol delivery service citing poor unit economics and scalability. In July 2021, Zomato went public, opening its Initial public offering at a valuation of over US$8 billion.
Zomato reentered grocery delivery space with a pilot launch in July 2021, allowing users to place orders from neighbourhood stores under a marketplace model. It shut down the service in September 2021. In April 2022, Zomato launched a pilot of 10-minute food delivery in Gurgaon called Zomato Instant.
Between 2010 and 2013, Zomato raised approximately US$16.7 million from Info Edge India, giving Info Edge India a 57.9% stake in Zomato. In November 2013, it raised an additional US$37 million from Sequoia Capital and Info Edge India.
In November 2014, Zomato completed another round of funding of US$60 million at a post-money valuation of ~US$660 million. This round of funding was being led jointly by Info Edge India and Vy Capital, with participation from Sequoia Capital.
While in April 2015, Info Edge India, Vy Capital and Sequoia Capital led another round of funding for US$50 million. This was followed by another US$60 million funding led by Temasek, a Singapore government-owned investment company, along with Vy Capital in September.
In October 2018, it raised $210 million from Alibaba’s payment affiliate Ant Financial, which received an ownership stake of over 10% of the company as part of the round, which valued Zomato at around $2 billion. Zomato had also raised an additional $150 million from Ant Financial earlier in 2018.[57]
In September 2020, Zomato raised $62 million from Temasek, after previously committed capitol from Ant Financial never came through.[58]
In October 2020, as part of a Series J round of funding, Zomato raised $52 million from Kora, a US-based Investment firm.[59][60]
In February 2021, Zomato raised US$250 million from five investors, including Tiger Global Management, at a valuation of US$5.4 billion
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Title Contents:
00:00 – Introduction To Zomato Business Case Study
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