A tweet from a user who goes by the handle '@Vikash67456607' triggered a major Twitter backlash, with the hashtag 'Reject_Zomato' trending on top at the microblogging site. In response, Zomato apologised to Vikash and also issued a statement both in Tamil and English, stressing that the company stood for diversity.
Byju's, Flipkart, PharmEasy and CRED, among others, have taken the acquisition route to grow
The company, backed by China's Ant Group, is planning to issue fresh shares worth Rs 7,500 crore in the IPO. This will make this India's third-largest offering after Reliance Power and DLF.
The latest acquisitions are a strategic move to establish Zomato's presence in central and eastern Europe.
Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. The deal comes days after Zomato had raised USD 150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a USD 3 billion valuation.
Company's revenue rises 3-fold to touch $206 million while total cost jumps over 6 times to $500 million
'We work with a very large restaurant base, we make sure that we're doing the right thing by them, and we're helping them grow because we'll grow only when they do.'
Start-ups don't care that mad-money funding comes to a hard stop after an IPO, observes Debashis Basu. As a listed entity, corporate actions have to take the interests of all shareholders, especially minority shareholders, into account. So far, we are not seeing any sign of it, observes Debashis Basu.
The loss before tax shot up 262 per cent to Rs 492 crore for the financial year ended March 2016.
Zomato and Swiggy
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
Flipkart co-founder Sachin Bansal on Friday took pot shots at Snapdeal saying India should not be blamed for the latter's failure to hire "great engineers".
Amid oxygen shortage and a faltering health system in the country, India is seeing over 300,000 cases daily.
The layoffs will be restricted to the Indian business.
Zomato is on an acquisition spree, has taken over 5 firms in the past one year.
The latest update is on Zomato's fourth acquisition overseas this year.
The IPO will be sometime in the first half of next year.
NextTable is the ninth acquisition for Zomato in the past year.
Zomato acquired US-based rival Urbanspoon for about $60 million in one of the biggest overseas deals by an Indian startup
'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
Internet entrepreneurs are the next big thing in India.
Housing.com CEO takes a dig at Vishal Sikka.
Last year, Zomato was in the news for reportedly dismissing 250-300 employees.
'All these incidents go to show that the day of the anodyne, apolitical corporation is running out fast,' says Kanika Datta.
Zomato is investing in setting up infrastructure, which existing restaurants will be able to use'.
The company has announced a global tie-up with San Francisco-based Uber.
The Gurugram-based company had acquired Lucknow-based drone manufacturer and consultant start-up TechEagle in December, to expand food delivery using drones
Zomato is far behind the numbers it promised to its investors for FY16.
Brands should do something, but it should be done discreetly.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
Help came from Sanjeev Bikchandani, founder and executive vice-chairman of Info Edge, the main investor in Zomato.
It has once again returned to strong growth after a brief hiatus, spurred by the return of investors' confidence (and cash) in India's online food ordering sector.
These workers have been asked to undergo a 30-day performance improvement plan.
Zomato, the India-based global restaurant search and discovery business entity, has accelerated plans to get into new products like online food ordering.
In February, Zomato had said that it had become profitable in six regions, including India, after achieving operational break-even of its businesses.
'One good thing that has come out of all this is that it shown people that online ordering is the way forward.'
Arnab Dutta traces how Bira 91 is already among the top two in the premium segment in all the cities that it is present in today and how it is giving larger brands Kingfisher and Budweiser a run for their market share.
India's online listing space is witnessing phenomenal growth.
None of the top five start-ups launched by IITians - Flipkart, Zomato, Ola Cabs, Housing.com and Inmobi - were incubated at IITs
Every competitor is eyeing the top slot that Flipkart holds.
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