Food-delivery unicorn Zomato recently announced that it has elevated its Chief Executive Officer of Delivery as the company’s Co-Founder. His elevation was done through the company’s Founders Program. Announcing the elevation of Mohit Gupta, main founder Deepinder Goyal said that Gupta had managed to tick all the boxes as a part of Zomato’s founders programme…
Online food delivery companies like Zomato and Swiggy have started home delivering alcohol in Jharkhand’s capital city, Ranchi. As of now, the service is only limited to one city, however, both the companies have said that the service will soon be available in other cities of the state. The companies are also in talks with…
Indian food delivery unicorn Zomato recently announced that it is set to lay off about 13% of its workforce due to the coronavirus pandemic’s impact on business. The job cuts and temporary pay cuts for employees were announced by the company founder and Chief Executive Officer Deepinder Goyal through a blog published on the company…
Food delivery unicorn Zomato is reportedly aiming to start delivering alcohol to consumers as the company seeks to encash on the high-demand for liquor in India amid lockdown. According to a document seen by Reuters, Zomato is trying to lobby for a change in alcohol rules in India along with International Spirits and Wines Association…
KRBL Limited, India’s largest branded rice company, announced that it has associated with Zomato and Swiggy to introduce INDIA GATE BASMATI RICE on the country’s leading food delivery platforms. “Through this collaboration, India Gate Basmati Rice aims to provide all top selling packs to consumers without having them to step out of their safe heavens.…
Food-delivery unicorn Zomato is reportedly in talks to acquire SoftBank-backed grocery startup Grofers. According to reports by The Economic Times and Entrackr, the all-stock deal might value the e-grocer at $750mn (around ₹5,700Cr). Reportedly, Softbank is considering investing about $100-$200mn in the merged entity through its VC arm Vision Fund. According to sources mentioned in…
Gurugram-based foodtech unicorn Zomato recently announced that it has raised $5mn in its Series J funding round. The funding round was led by Pacific Horizon Investment Trust PLC through its agent Baillie Gifford and Company. According to company regulatory filing, Pacific Horizon has been allotted 1,177 Compulsorily Convertible Cumulative Preference Shares (CCCPS). Each of these…
Food delivery platform Swiggy has recently raised $43mn in its ongoing Series I funding round. The funding round was led by existing investor Tencent and saw participation from Ark Impact Asset Management, Korea Investment Partners (KIP) and MACM India Growth Fund. The company had initiated its Series I round in February and had raised $113…
Taking into consideration the impact of the coronavirus pandemic on businesses, Zomato recently announced that hundreds of its employees are taking a voluntary deep cut in salaries to help the company sustain. In a series of tweets, Zomato CEO Deepinder Goyal announced that hundreds of employees have taken deep voluntary salary cuts to help the…
Ride-hailing startup Uber has recently announced that it would strengthen its fintech process in India with the formation of Uber Money. It has even set up a team of over 100 technology professionals responsible for global financial products and technology innovations, at its Hyderabad Tech center. With the announcement, the company has surprised many who…
Adding to the long list of layoffs by major startups, 245 employees of UberEats India are now on the verge of getting the pink slip after the company’s acquisition by Zomato. According to a report by The News Minute, these employees have been asked to leave the company by March this year. While 163 of…
Zomato Media Private Ltd has announced to acquire Uber’s Food Delivery Business in India, UberEats, in an all-stock transaction. As per a stock exchange filing by Zomato, the deal gives Uber a 9.99% stake in the company. Post-acquisition, UberEats will discontinue operations in India that include direct restaurants, delivery partners and users of its apps.…
Zomato raises ₹353.58 crore in fresh funding from Antfin Singapore, according to the company’s filings reported in the business intelligence platform Tofler. The funding, part of the Zomato’s Series J financing round, is the first tranche of the $150-million fund raise announced by the company last week. Post this investment, Zomato’s fund tally will stand…
Food delivery start-up Zomato on Friday announced that it has raised $150mn in fresh funding from Alibaba subsidiary Ant Financial. With the recent investment, Zomato is now valued at $3bn. Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. So far Zomato has raised a total of $840mn in funding from multiple investors.…
According to numerous media reports, Indian food delivery start-up Zomato is set to acquire the Indian operations of Ubereats, Uber’s food ordering and delivery platform. The deal is likely to close by the end of this year. According to reports, Uber will invest $150 – $200 million in Zomato after the deal. Earlier this month,…