The Zomato CEO and his wife Grecia Munoz, who changed her name to Gia Goyal on Instagram, earlier took on the role of delivery partners to deliver orders in Gurugram and get a first-hand experience of challenges faced by them.
Eternal, the parent entity of Blinkit and Zomato, on Wednesday said Deepinder Goyal will step down as its Group CEO and Managing Director with Blinkit CEO Albinder Dhindsa set to succeed him as Group CEO from February 1.
Quick commerce platform Zepto is reportedly planning to launch its Rs 11,000-crore Initial Public Offering (IPO) in July, following SEBI approval. The company is pursuing a distinct growth strategy, focusing on market density and operational intensity in metro markets rather than rapid geographic expansion, a move that sets it apart from rivals like Zomato and Swiggy.
The shareholders of Zomato have approved a special resolution to rename the firm 'Eternal', the company informed in a stock exchange filing. The brand name of the company's food delivery business Zomato will remain the same, along with the app. Eternal will comprise four major businesses (as of now) -- Zomato, Blinkit, District, and Hyperpure.
Zomato is far behind the numbers it promised to its investors for FY16.
Eternal, the parent company of Zomato and Blinkit, on Wednesday reported a 72.8 per cent jump in its net profit for the third quarter of financial year 2026 (Q3FY26), on the back of a robust momentum in its quick commerce business. The firm's net profit rose to Rs 102 crore in Q3FY26 against Rs 59 crore it reported during the same period a year ago.
Eternal-owned quick-commerce firm Blinkit has dropped its '10-minute' delivery claim after intervention by the Labour Ministry amid growing concerns over the welfare and safety of delivery workers.
Food aggregating platform Zomato, announced its collaboration with the Indian Railway Catering and Tourism Corporation (IRCTC) with its latest offering - 'Zomato - Food Delivery in Trains'. This collaboration aims to transform train journeys, enabling passengers to enjoy a variety of dishes from the comfort of their train seats. The service is currently live across 88 cities.
Eternal (formerly known as Zomato) reported a net profit of Rs 39 crore for the fourth quarter of FY25, down 77.7 per cent year-on-year from Rs 175 crore in the same period a year ago. On a sequential basis, profit was also down 33.8 per cent from Rs 59 crore in the preceding quarter (Q3FY25).
Let her know that you are in a happy marriage and you are not comfortable with her behaviour, advises rediffGURU Ravi Mittal.
Popular food delivery and restaurant aggregator company Zomato has decided that its newly introduced 'Pure Vegetarian' delivery fleet will continue to wear Zomato's trademark red instead of green as originally conceived by the delivery start-up.
Online food delivery aggregator Zomato is on an internal rebranding exercise by moving to a multiple chief executive structure for its businesses that will be housed under a larger organisation called Eternal. In an internal message to employees, Founder and Chief Executive Officer (CEO) Deepinder Goyal said the company is at a stage where it has matured from running a single business to running multiple and large companies. The restructuring is happening after the shareholder approved the Blinkit acquisition.
With several $500 million-plus deals in the pipeline -- including ICICI Prudential AMC, Lenskart, PhonePe, Groww, PhysicsWallah, Meesho, Pine Labs, and Zepto -- investment bankers look poised for another year of hefty bonuses in 2025.
Online food delivery platform Zomato will acquire Paytm's entertainment ticketing business for Rs 2,048 crore to strengthen its "going-out" segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution.
Online food delivery firm Zomato Ltd on Tuesday reported a consolidated net profit of Rs 176 crore in the second quarter ended on September 30, 2024. The board of the company, which had posted a consolidated net profit of Rs 36 crore in the same quarter last fiscal, also approved the raising of Rs 8,500 crore through qualified institutional placement of equity shares, Zomato Ltd said in a regulatory filing. Zomato's consolidated revenue from operations stood at Rs 4,799 crore.
'I advise people to stay away from secondary IPOs. There is a big conflict of interest between the exiting and incoming investors'
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
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.
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.
Swiggy on Friday said its 10-minute food delivery service 'Bolt', which was launched in October last year, is now operational in more than 500 cities across the country.
Food aggregator platform Zomato has discontinued its 10-minute delivery offering, Zomato Instant, as the business has struggled to grow and faces challenges in turning profitable, media reports said. The company has denied these claims, stating that the business is just being rebranded. This comes as the company's CEO Deepinder Goyal announced 800 job vacancies across 5 roles via a Linkedin post.
With scrutiny that comes with a public listing, Deepinder Goyal's leadership could face its sternest test yet.
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.
Online food delivery platform Zomato has decided to narrow its focus on three key areas of food ordering and delivery; supplies to restaurants through 'Hyperpure' and quick commerce, company Chairman Kaushik Dutta said on Tuesday. In his address to shareholders at the company's annual general meeting, Dutta said the move was part of strategy to focus "only on areas that have the potential to become meaningfully large businesses ten years from now". In FY22, he said Zomato was able to achieve strong top line growth while keeping its "adjusted EBITDA burn under control", despite multiple challenges such as disruptions due to Covid-19 pandemic, macro-economic uncertainty, rising inflation, fuel prices, among others.
Key drivers of profitability for Zomato has not witnessed remarkable growth, the management believes the venture will turn profitable in the long term.
Quick commerce (qcom) industry is poised to lead gig workforce hiring in 2025, propelled by a surge in demand for faster deliveries, expansion by existing players, entry of new competitors, and evolving consumer preferences in the post-pandemic era, according to industry experts. The qcom industry currently employs nearly 260,000 people - around 200,000 delivery personnel and 60,000 dark store workers, according to TeamLease Staffing.
For large start-ups the US market is considered to be a preferred destination, as Indian investors were seen as hesitant to pay the kind of valuation private equity investors or the US markets pay. However, Zomato's listing has quashed these notions.
Framing the next chapter in Swiggy's journey as a responsible corporate citizen, co-founder and chief executive officer (CEO) Sriharsha Majety unveiled the company's eagerly awaited public listing. Majety, who has largely shunned the spotlight, shared reflections on his entrepreneurial path and the strategic pivots he and his co-founders navigated in building Swiggy. "We started with code aggregation, then pivoted to logistics, and that became Swiggy.
Gupta's exit comes days after Zomato decided to stop its grocery delivery service from September 17, mainly due to gaps in order fulfilment, leading to poor customer experience.
For food aggregator platform Swiggy, quick commerce (qcom) is proving to be a better growth opportunity than food delivery. Its qcom arm Instamart is rapidly outpacing its core food delivery vertical across several key financial metrics, the company's recently filed draft red herring prospectus (DRHP) shows.
Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 8,250 crore through an initial share-sale.
The IPO will be sometime in the first half of next year.
From the 30-share blue-chip pack, Bharti Airtel, Power Grid, Bajaj Finance, Nestle, Mahindra & Mahindra, Reliance Industries, Asian Paints, IndusInd Bank, Hindustan Unilever and HDFC Bank were the biggest gainers. Bajaj Finance climbed nearly 2 per cent after the company reported an 18 per cent increase in its consolidated net profit to Rs 4,308 crore for the December quarter.
Sources said a merger could benefit both as Grofers' private labels business would be a draw for Zomato, as well as its experience in the online grocery delivery space.
'Expect our food delivery business to deliver sustainable adjusted EBITDA margins of about 5 per cent in the medium term.'
From the 30-share blue-chip pack, Adani Ports jumped over 5 per cent. NTPC, Tata Steel, Bajaj Finserv, Zomato, Bajaj Finance, Tata Motors, State Bank of India, IndusInd Bank and Maruti were among the other big gainers. From the 30-share pack, Hindustan Unilever, Titan, Tata Consultancy Services, Infosys and UltraTech Cement were the other laggards.
Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers. Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.
On the cusp of launching its Rs 11,327 crore initial public offering (IPO) next week, food and grocery delivery major Swiggy believes quick commerce to be its future growth engine and anticipates that it will outpace its core food delivery business over the next five years. Currently, the quick commerce business of Swiggy - backed by Prosus and SoftBank - is 40 per cent of the size of its food delivery revenues.
After making the model work in metro cities, players in the quick commerce sector are rapidly expanding their footprint into smaller tier 2 cities and markets beyond that ahead of the festival season.
Zomato acquired US-based rival Urbanspoon for about $60 million in one of the biggest overseas deals by an Indian startup
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