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ZOMATO- TRAILBLAZING THE FOOD DELIVERY BUSINESS GLOBALLY

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ZOMATO- TRAILBLAZING THE FOOD DELIVERY BUSINESS GLOBALLY

India’s most used food directory, Zomato was started as FoodieBay back in 2008 before it was rechristened to Zomato in November 2010. The foundation of the company was taken by Deepinder Goyal and Pankaj Chaddah. They are the master brains behind this amazing food delivery application. Headquartered in Gurgaon, Zomato has been a pioneer in food ordering and restaurant discovery in India.  It has been and is the most widely used ordering application that attracted many customers with its innovatory strategies.

Zomato is used by consumers to discover, rate and review restaurants, and also to create their own personal network of foodies for trusted recommendations. With time, it has extended its offerings to incorporate Online Orderings, Table Reservations, Whitelabel Platforms, and a Point-of-Sale system innovating a method to connect restaurants and businesses and customers.

Zomato today is serving in 10,000 cities across 36 countries with 1.2 million famous restaurants with 80 million foodies on a monthly basis. The application is available in 10 different languages and has 10 million reviews with 18 million bookmarks. It offers a platform to the restaurant’s owners to serves a large number of users a good quality of food.

Deepinder Goyal & Pankaj Chaddah

The founder and CEO of Zomato, Deepinder Goyal is an alumnus of IIT. He started his career in a consulting firm, Bain & Company and worked for almost 3 years there. While working in Bain & Company, Deepinder Goyal acquired the business acumen that he is famous for today. Deepinder is known for his cool demeanour and progressive approach towards searching the possibilities of the restaurant’s industry.

Pankaj Chaddah is the Co-founder and COO of the company. He also started his career with Bain & Company in New Delhi. Pankaj graduated with a degree in mechanical engineering from IIT Delhi in 2007.

Today, millions of users are on Zomato refuses to stop. They believe that there are still numerous issues in the restaurant industry that should be solved. That is why; Zomato is continually envisioning and reinventing strategies to make life easier for people.

History and Success Story

Deepinder Goyal and Pankaj Chaddah were the alumni of IIT Delhi and were working in Bain & Co. In their office, they noticed a lot of people waiting for a long time just to get a flesh of the menu card. This is when the idea of obtaining a solution was grown in their mind and that has led to the creation of ‘Foodiebay’.

The soft copies of the menu cards are uploaded on the website and thereafter, everyone in the office started using this medium; it saved much of their time. This, in turn, raised the traffic to their site soon they expanded their site to make it available to everyone. Initially, Foodiebay was started in Delhi and then it was extended to Mumbai and Kolkata.

In a short period, the company has gained great popularity as it was rendering peculiar services to the customers. It allows the founders to scale the project globally. Then, Foodiebay was modified as Zomato to make it more bewitching, easy to memories.

By 2012, Zomato started overseas operations with the UAE, Sri Lanka, Qatar, United Kingdom, Philippines, and South Africa. In 2013, it entered Turkey, New Zealand, and Brazil.

Apart from its expansion, Zomato also acquired several foreign-based companies to maximize its business; it acquired Portugues company Gastronauci and the Italian service Cibando in 2013.

Here is the list of major Mergers and Acquisitions

  • Cibando: An iPhone application, Cibando was acquired by Zomato. This app allows users to find restaurants in Rome, Florence, Milan and other cities in Italy.
  • Gastronauci.pl: Gastronauci.pl was acquired in 2014 only; it is a platform for restaurant reviews, news, contests, etc.
  • Lunchtime: An online food guide Lunchtime was also acquired in 2014.
  • MenuMania: MenuMania is a New Zealand based restaurant listing and reviews portal. Zomato has acquired this company in 2014 too.
  • Obedovat: Obedovat is an online food guide; this Slovakia based company was also acquired in 2014.
  • Urbanspoon: Zomato acquired Urbanspoon in 2015; it is a restaurant information and recommendation platform.
  • Sparse Labs: In 2016, Zomato acquired Sparse Labs, logistics technology start-ups.
  • Runnr: Runnr is a food delivery start-ups, it was acquired in 2017.

Besides, Zomato acquired TongueStun Food in 2018; it is a food e-marketplace. Later in December 2012, a Lucknow-based start-up TechEagle Innovations was acquired. This company works exclusively on drones.

Funding

Zomato has got the investments of about $443.8 million through 10 rounds of funding. The top investors of Zomato include Sequoia Capital, Ant Financial, Temasek Holdings, Info Edge, and Vy Capital.

All in all, Zomato is flourishing in an amazing way with massively successful business tip-ups like Zomato Gold and online food delivery. Although the company has had its shares of ups and downs, it has established a heavy consumer base and has always emerged to survive.

2019 marks 11 years of Zomato’s successful journey and here we are wishing them 11 more.

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