India's first unicorn Zomato will make its stock market debut on Friday, marking a historic moment for the domestic capital market. As per initial schedule, Zomato's listing was to take place on July 27. However, investment banks managed to complete the share allotment and listing formalities ahead of the deadline. Under the Sebi framework, the timeline between IPO closing and listing has to be six working days. Zomato's IPO had closed on July 16.
Zomato and Swiggy
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 IPO will be sometime in the first half of next year.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
Zomato is investing in setting up infrastructure, which existing restaurants will be able to use'.
The layoffs will be restricted to the Indian business.
'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.'
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.
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.
In February, Zomato had said that it had become profitable in six regions, including India, after achieving operational break-even of its businesses.
Housing.com CEO takes a dig at Vishal Sikka.
The Gurugram-based company had acquired Lucknow-based drone manufacturer and consultant start-up TechEagle in December, to expand food delivery using drones
Zomato, the India-based global restaurant search and discovery business entity, has accelerated plans to get into new products like online food ordering.
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.
Help came from Sanjeev Bikchandani, founder and executive vice-chairman of Info Edge, the main investor in Zomato.
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.
Several food and grocery delivery firms witnessed their highest ever single-day orders on New Year eve, December 31. Zomato achieved a record-breaking number of orders on its app. The company carried out nearly as many orders on December 31 as the total for the equivalent day in the period from 2015 to 2020.
After new-age tech companies reported better-than-expected June quarter (Q1FY23) results, analysts said it will be a long road to recovery for their respective businesses and the stock prices. Moreover, brokerages differ on whether it is the right time to own these stocks. The common thread, however, that runs across most brokerages is Zomato, where they suggest buying the stock with the one-year target price ranging between Rs 60 - 115, translating into an upside of around 9 - 109 per cent from the current levels. The company's gross order value (GOV) of food delivery jumped 10 per cent quarter-on-quarter (QoQ) and 42 per cent year-on-year (YoY) in Q1, aided largely by growth in volume, and mild growth in average order value (AOV) at 1-2 per cent. The company also broke even on an adjusted Ebitda basis during the quarter.
The company has announced a global tie-up with San Francisco-based Uber.
Internet entrepreneurs are the next big thing in India.
Ramping up globally, the Indian restaurant search service is going as local as possible in its markets to improve its brand's stickiness.
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".
Quick commerce is proving to be a solid business proposition, with companies like Zomato's Blinkit and Y Combinator-backed Zepto recently registering growth, charting paths to profitability. Blinkit logged its highest gross order value (GOV) and customer transactions in June and July, showing a positive contribution for the first time in the quarter ended June 2023. Deepinder Goyal, Zomato's co-founder and chief executive officer (CEO), predicted that Blinkit would deliver more value to shareholders than the core food delivery business in the next decade.
The third quarter (Q3) of 2023-24 (FY24) has proven to be pivotal, witnessing some startups turning profitable and others enhancing their performance as their businesses finally begin to deliver. Startups like Delhivery, Zomato, PolicyBazaar, Mamaearth, and Nykaa have either become profitable or improved their profit margins in Q3FY24. A renewed focus on profitability, supported by operational efficiencies, expense rein-in, and robust demand during the festival season, has empowered companies to strengthen their performance.
Byju's, Flipkart, PharmEasy and CRED, among others, have taken the acquisition route to grow
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Neetu Yadav and Kirti Jangra teamed up to create an app that is possibly the platinum standard for apps targeted at Bharat.
Unacademy on Monday said it has raised $440 million (about Rs 3,270.8 crore) in funding from a clutch of investors including Temasek, General Atlantic, and Softbank Vision Fund, valuing the edtech major at $3.44 billion. The investment is expected to help Unacademy expand its offerings, deepen its presence and compete more aggressively against rivals such as Byju's in the burgeoning ed-tech space in India that has been witnessing strong uptake amid the pandemic. The series H round was led by Temasek, with super pro-rata participation from General Atlantic, Tiger Global, and Softbank Vision Fund, a statement said.
Amid oxygen shortage and a faltering health system in the country, India is seeing over 300,000 cases daily.
These workers have been asked to undergo a 30-day performance improvement plan.
Brands should do something, but it should be done discreetly.
'All these incidents go to show that the day of the anodyne, apolitical corporation is running out fast,' says Kanika Datta.
Quick commerce startups hope to race towards better days. Can they crack the execution code?
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.
India's online listing space is witnessing phenomenal growth.
'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
None of the top five start-ups launched by IITians - Flipkart, Zomato, Ola Cabs, Housing.com and Inmobi - were incubated at IITs
'One good thing that has come out of all this is that it shown people that online ordering is the way forward.'
Vikramank Singh looks back at the year gone by!
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