Zomato is an online ordering directory and food delivery service that enables users to place orders and have dishes delivered from eateries.
According to statistics from India’s BSE trading platform, Uber Technologies Corporation sold a minority share in the Indian food-delivery business Zomato Ltd. for around $390 million in a chunk sale.
According to the exchange’s listing of mass dealings, the San Francisco-based corporation traded 612.2 million shares, or a 7.8 percent interest, in New Delhi-based Zomato for 50.44 rupees, or roughly 64 cents per share. Uber’s spokesperson refused to comment.
The company’s first product is a search app that gives accurate information on fast food places, allowing people to experience, assess, and evaluate eateries while also creating their own unique social profile of connoisseurs for trustworthy suggestions. Zomato links over 55 million customers in 24 countries to businesses. Tiger International, Temasek, Baillie Gifford, Kora, Luxor, Fidelity (FMR), D1 Fund, Baillie Gifford, Mirae, Steadview, and Ant Finance are among the investors.
Zomato Fundings
Zomato has raised $2.5 billion in investment across 22 rounds. Their most significant fundraising came on August 3, 2022, in the form of a Post-IPO secondary round. Zomato is traded on the BOM as ZOMATO. In its IPO on July 23, 2021, its stock opened at 116.00. Zomato has received funding from 28 shareholders. The most significant investors are Franklin Templeton Ventures and Fidelity. According to the Zomato 390 million series uberbloomberglive mint, Zomato has fourteen assets.
On April 17, 2022, Urban Piper secured $24M, their latest financing. Zomato has two exits. Blinkit and Grab are two of Zomato’s most famous departures. Zomato has bought 15 businesses. On March 16, 2022, they made their most recent purchase, Blinkit. They paid $725 million for Blinkit.
What does Zomato do? and Its Features
Zomato’s technological platform was built in 2010 to connect consumers, food and beverage associates, and distributors to meet their diverse requirements. Clients use Zomato’s platform to browse for and find locations, read and compose feedback from customers, see and contribute images, request delivery service, reserve a spot, and pay bills while having a meal out.
On the other hand, they give franchisees industry-specific promotional methods that allow people to communicate with and persuade customers in order to boost sales, all while maintaining a dependable and quick last-mile delivery option. They also run Hyperpure, a one-stop acquisition solution that gives high-quality food and kitchen goods to clients worldwide. Zomato also offers its distribution partners clear and versatile income options.
- Driving the economic force
Zomato has been facilitating consumers in seeking alternative flavors and pleasures across nations for over a generation. By meticulously arranging data for consumers, they empower individuals to make more informed decisions.
- Concentrating on affordability
The achievement of Zomato Pro underlines the importance of giving an excellent alternative. They are not planning to leave any stone unturned in their efforts to make meals more economical without sacrificing a restaurant’s viability.
- Increasing consumer availability
Zomato’s delivery service is growing and expanding in new cities. They are steadily growing their offerings, particularly table reservations and Zomato for Business, and they continue to fuel Nourishing India.
- Improving Nutritional Content
Through Hyperpure, Zomato is committed to maintaining a neutral platform and facilitating food enterprises to maintain a high level. Food Standards Ratings are a sought-after significant indicator among their restaurant partners.
FAQs
Zomato is an online ordering directory and food delivery service that enables users to place orders and have dishes delivered from eateries.
The company’s first product is a search app that gives accurate information on fast food places, allowing people to experience, assess, and evaluate eateries while also creating their unique social profile of connoisseurs for trustworthy suggestions.
Zomato links over 55 million customers.
The most significant investors are Franklin Templeton Ventures and Fidelity.
Zomato has raised $2.5 billion in investment across 22 rounds.
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