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| 28 November, 2020, 10:02 PM IST | E-Paper

    New investors may bring $150 million to Zomato's table

    Mirae backed Zomato’s closest competitor, Swiggy, earlier this year through another vehicle — Mirae Asset Capital Markets.

    Food delivery recovery at pre-Covid levels: Zomato

    Among the larger cities, while Delhi and Mumbai are nearing full recovery, metros such as Bengaluru, Hyderabad and Chennai are still behind the curve.

    Google notice to Swiggy, Zomato for ‘violation’ of Play Store rules

    For both the food delivery companies, major cricketing event IPL has been touted as the best time to garner a larger share of consumer minds as well as wallets, and gamification features were a part of increasing engagement on the app.

    Food delivery volumes in India reach pre-Covid-19 peaks: Zomato's Deepinder Goyal

    Since March 23, Zomato has delivered 92 million orders, with no reported cases of Covid-19 transmission through food delivery, or its food delivery agents, Goyal said.

    Zomato makes its takeaway service available to restaurants at zero commission

    Zomato looks at food takeaway as a gateway for restaurants to expand avenues to bring back customers while also providing more options for users who consider takeaway safer than delivery.

    Tiger & Kora in $250 million Zomato funding round

    For Zomato, the new round of financing comes amid uncertainty surrounding the India strategy of its prominent backer - China's Ant Financial

    Zomato COO Gaurav Gupta moves into a new role

    Gupta said he would exclusively focus on the nutrition business, which he sees as a value driver for the food delivery company

    Zomato eyes IPO by first half of 2021 as Tiger Global, others join round

    For Zomato, the new round comes amid uncertainty surrounding the India strategy of its prominent backer — China’s Ant Financial, which holds 25% in Zomato and had committed to investing $150 million in January.

    Fidelity, D1 Capital likely to invest $100 million in Zomato

    Zomato confirmed it has also raised about $145 million from Baillie Gifford, and new investors Mirae Asset-Naver Asia Growth Fund, US hedge fund Luxor Capital and private equity firm Bow Wave Capital and Steadview Capital

    Zomato will go public by first half of 2021, as Tiger Global, others join financing round

    For Zomato, the new round of financing led by US and Singapore-based financial investors comes amid uncertainty surrounding the India strategy of its prominent backer — China’s Ant Financial.

    Zomato’s secret growth engine: A farm-to-fork business unit

    As Covid-19 jolts both the food ordering and dining out business for Zomato, one arm of the company did brisk business.

    Zomato names Akshant Goyal as new Chief Financial Officer

    Goyal is the third company executive to hold the finance portfolio in the last two years.

    Mandi alternatives: How agri-tech startups beat the lockdown blues

    While the farmers’ union protests against the Centre’s agriculture reform ordinances, now bills, the alternative path for farm produce that these legislations seek to open up — outside the mandi chain — has been evident for the past six months.

    Zomato revenue doubles to $394 million in FY20

    In the first quarter of the ongoing fiscal year, the company's Ebitda loss stood at $12 million on revenue of $41 million and unit economics of its food delivery business improved.

    Zomato raises $195 million in funding from 6 investors, valuation touches $3.6bn

    Upon closing of the fund raise, Info Edge's shareholding in Zomato shall stand reduced to about 20.8% on fully converted and diluted basis, it added.

    Food delivery services like Zomato, Swiggy regain 80% of pre-Covid sales: Survey

    Restaurants in residential areas were found to be doing 50% better than those in commercial areas and consumers are moving their spends from eating out to home delivery.

    MobiKwik joins IPO queue, eyes public listing by 2022

    MobiKwik joins the league of startups such as PhonePe, Paytm and Zomato that have publicly announced their plans to go in for Initial Public Offerings.

    ETtech Deals Digest: Razorpay, Zomato, Ninjacart raise funds this week

    A quick look at this week's most important investments in the tech and startup space.

    Zomato delivery partners protest 'China Funding'

    The videos of these protests, which show a group of purportedly Zomato employees burning the company uniform, first surfaced on Twitter.

    Swiggy, Zomato, others asked to cut offers, commission

    Typically, online platforms charge 20-25% of order value as commission, depending on multiple factors like brand, exclusivity and consumer reach.

    Marriott partners with Zomato for home delivery service

    Zomato said it will execute contactless delivery on all pre-paid orders, which involve a delivery partner leaving the food at the doorstep rather than an in-person exchange.

    Zomato 'Gold' becomes 'Pro' with nearly 50% more restaurants

    Zomato last year became one of the targets of a #Logout campaign initiated by some restaurants for allegedly facilitating discount addiction among customers through its Gold subscription programme.

    Sweet news for food delivery companies like Zomato, Swiggy; volumes up, order values too

    The upward swing comes in a quarter where these food delivery apps saw a significant dip in orders to less than 3,00,000 per day in April as restaurant supply and overall customer demand cratered during the Covid-19 induced lockdown.

    Samvat 2077 promises a blockbuster year for IPO investors: LIC, NSE, Zomato top list

    Many Indian companies delayed the IPOs due to the pandemic and, hence, the pipeline looks strong for the new Samvat year. Market watchers expect a number of IPO lunches over the next 12 months.

    Sequoia top backer of Indian unicorns with eight bets, China's Tencent 11th with 3 investments: Report

    Fantasy gaming company Dream11 - which recently won the title sponsor rights for the IPL cricket league after a Chinese handset maker had to be dropped out - is one of the three companies backed by Tencent, as per the report.

    Ant talks of significant influence over Paytm

    Ant Group's stake in the Paytm parent would be pegged at about $5 billion, based on the $16 billion valuation ascribed to its business when the startup raised $1 billion in November 2019.

    Retailers displeased as Swiggy, Zomato start delivering alcohol

    Retailers in states such as Maharashtra, Odisha and Jharkhand don’t want food delivery apps entering the highly state-centric and excise-regulated liquor space.

    Zomato, Swiggy renegotiates exclusivity contracts with restaurants

    While each contract was negotiated with different terms, it could range from a flat onboarding one-time payment, monthly assured payments, lower commissions, and higher visibility on the app for the restaurants.

    Vy Capital buys Urban Company Esops worth $5 million

    According to Urban Company chief executive Abhiraj Singh Bhal, about 183 employees, across designations and roles, were eligible to participate in the latest Esop transaction, of which about 120 people, ranging from call centre executives to senior leadership, took part.

    Zomato, Swiggy get notices from Google for violating Play Store norms

    "Yes, we have received a notice from Google. We believe that the notice is unfair, but we are a small company and have already realigned our business strategy to comply with Google's guidelines," a Zomato spokesperson said in an e-mailed response.

    Indian startups like Grofers, Zomato start restoring salaries after pay cuts

    While the country's economy has gradually begun to open up, albeit under a tight leash, the startups are beginning to reinstate the salaries that had been slashed in the April-June quarter.

    From Oyo to Zomato, startups soften pay cuts by expanding Esops pool

    Companies may grant 12-15% of their overall stockholding to ESOPs to help staff hit by cuts, furloughs.

    Alcohol orders to add fizz to Swiggy and Zomato

    Food delivery app Swiggy has started doorstep delivery of alcohol in Jharkhand, while rival Zomato told ET that it plans to launch the service on Friday.

    Zomato co-founder's new startup to offer mental health online

    The mobile app provides meditation and yoga content through a mixture of live classes and an on-demand library of audio and video content.

    Real outrage or bot-rage: Managing the fall-out of social media backlash

    Marketers are dealing with a surreal impact of social media outrage and backlash against brands. Here's their offline story.

    Mother Dairy ties up with Zomato to home deliver fruit, vegetables in NCR

    In the first phase, Safal, which sells 270 tonnes of fruit and vegetables a day in the region, has initiated delivery in a radius of 10 km around 11 of its 300 outlets.

    Walmart's Flipkart eyes alcohol delivery foray with Indian startup, letters show

    Flipkart and Amazon's interest in delivering alcohol in India marks a bold move to make inroads into an alcohol market that is worth $27.2 billion, according to estimates by IWSR Drinks Market Analysis.

    From Oyo to Zomato, Covid-hit companies renegotiate for breathing space on rentals

    Companies are toying with the idea of giving up a floor, consolidating offices, and shutting down regional divisions, among other measures, to reduce long-term fixed asset costs.

    Zomato introduces contactless dining

    Contactless dining, Zomato said, will minimise customer contact with anything that someone else might have touched, by eliminating use of high-touch elements.

    After delay in China-based investment, Singapore's Temasek to pump $100 million in Zomato

    An existing Zomato backer, Temasek's potential funding is part of a larger investment round that the Gurgaon-based company has been negotiating since the end of last year.

    Blue-collar jobs on recovery path led by delivery segment: Placement firm Vahan

    After witnessing an overall dip in blue-collar jobs due to the coronavirus induced lockdown, there has been a sharp recovery led by delivery segment, including food and grocery, according to start-up placement firm Vahan.

    Court restricts CureFoods from selling movable assets

    The company had sent a termination notice claiming that it was unable to do business owing to the Covid-19-induced lockdown.

    Nivea partners with Swiggy, Zomato for delivery of hygiene products

    The service, which was initially started in Mumbai last week, has now been extended to over 30 cities, including Delhi, Mumbai, Bengaluru, Kolkata, Jaipur, Bhopal, Indore, Raipur, Kanpur, Nivea India said in a statement.

    Zomato denies rumors of delivery staff contracting coronavirus

    Zomato said that all the customers who came in contact with the restaurant’s employee have been contacted by the relevant authorities.

    Hottest internet stock in India surging despite valuation fears

    Info Edge has gained in November despite reporting quarterly profit and revenue that missed analysts’ forecasts.

    There’s more than food on plate of delivery firms Swiggy and Zomato

    This comes at a time when both food aggregators have made a big push in delivering grocery and products for daily use during the ongoing nationwide lockdown.

    Aggregators may give 1-2% of turnover or 5% of wages to social security fund

    The code, which aims to provide universal social security to 450 million workers, over 90% of whom are in the unorganised sector, is expected to be rolled out from the next financial year.

    Cashing in on Covid-19 lockdown, Zomato wants to deliver alcohol to you

    Zomato wants to cash in on the high demand for booze during the country's Covid-19 lockdown.

    Zomato starts ‘Talent Directory’ to help its laid off employees find new job

    Zomato has created a Zomato Talent Directory for employers to access employee profiles listed on its forum.

    Zomato places an order for Grofers at $750 million valuation

    Japanese conglomerate SoftBank Vision Fund, the largest shareholder in Grofers, may look to invest around $100-200 million in the merged entity, sources close to the matter said.

    HSBC's brokerage arm pegs Zomato's valuation at $5 billion

    Taking stock of Zomato's publicly traded shareholder Info Edge, the Gurugram-based company could add $2 billion in market capitalisation to Info Edge over 3-4 years, the brokerage firm said in a report published recently.

    BharatPe hires Zomato’s Head of Sales to lead growth

    Jain has worked in leadership roles with Pepsi, the Coca Cola Company & more recently with Zomato.

    Battered by Covid-19, Oyo terminates lease contracts for two Gurgaon offices

    The Covid-19 pandemic has resulted in Oyo undertaking a significant number of employee layoffs and furloughs, enforcing pay cuts and shuttering properties across markets, as it looks to restructure operations across the globe.

    Swiggy, Zomato begin home delivery of alcohol; Amazon enters Indian food delivery market

    E-commerce giant Amazon with deep pockets has entered the vast online food delivery market in India, with launching Amazon Food at select pin codes in Bengaluru. Leading food ordering and delivery platforms Swiggy and Zomato on Thursday said they have started home delivery of alcohol in Ranchi and plan to expand it to other cities going forward.Swiggy, Zomato begin home delivery of alcohol; Amazon enters Indian food delivery market

    Flipkart, Zomato, other startups' top brass reach office first to allay staff fears

    Most startups have allowed employees to continue working from home, for roles that may not require them to commute to offices, although the government has greenlighted office travel.

    Travel companies rally, lab & food hit

    The news about a potent vaccine from global pharma giant Pfizer, along with Germany’s BioNTech, was a booster for hotel, airline and travel stocks.

    Zomato, Swiggy orders drop 70% in 10 Days

    Online food delivery orders for Zomato & Swiggy have dropped 70% in the last 10 days to under 1 million a day.

    Covid-19: Hygiene tops menu for Swiggy, Zomato

    Customers have also expressed concern about the health of delivery partners given their exposure to multiple people. In fact, Red-Seer Consulting has forecast a 30% drop in food delivery volumes in India for early March.

    FieldFresh Foods ties up with Zomato, Swiggy, Dunzo for home deliveries

    Under the partnerships, Del Monte range of premium food products, including tomato ketchup, mayo, pasta, olive oil and fruit drinks will be delivered to consumers' homes amidst the continuing lockdown.

    COVID-19 impact: Zomato to layoff around 13% employees and cuts salaries across organisation

    Zomato, a unicorn in the online food delivery space, will let go of 13% of its workforce and cuts salaries across the organisation to tackle the COVID-19 India crisis. The company has around 4,000 employees in different roles. Here's a report by ET NOW's Chandrar Srikant. Watch.COVID-19 impact: Zomato to layoff around 13% employees and cuts salaries across organisation

    Zomato to lay off 13% of its staff as Covid-19 severely impacts food ordering business

    Zomato has said it will let go of 520 people and undertake up to a 50% pay cut for remainder of the organisation.

    Here's how companies are trying to make this Diwali special for their employees

    They are among a number of companies that have shifted the annual ritual of Diwali parties and gifts for staff to online. While they are trying to keep the employee spirit up during the festive season, the pandemic has indeed impacted sales of sweets and other Diwali gifts with many companies either forgoing dishing out gift hampers or toning down such expenses.

    Zomato eyes IPO by 1st Half of 2021 as Tiger Global, others join round

    “We have no immediate plans on how to spend this money. We are treating this cash as a ‘war chest’ for future M&A and fighting off any mischief or price wars from our competition,” he wrote.

    Zomato kicks off grocery deliveries in India amidst Covid-19 lockdown

    The aim here is to ensure last-mile delivery of essentials to households in India during the Covid-19 lockdown.

    Rs 40 lakh a share! Unicorn stocks get supernatural valuations in unlisted market

    There are projections that India will witness at least 10 IPOs from internet companies over the next 3 years, and Swiggy, Unacademy and Rivigo are among the names doing the rounds.

    Some Chinese VCs looking for a quick exit

    The venture capital and individual investors exploring exits currently own about 4-5% in Indian companies, with some holding less than 2%.

    Drip funding: Swiggy, Zomato settle for smaller cheques of $5-10 million

    Food delivery companies take offers of $5-10 million in tough conditions.

    Bigger green shoots in white-collar job market

    Capgemini, Whirlpool, Tata Steel, Vedanta, Philips, Nestle, Deloitte, Livspace, PepsiCo and Myntra were among the companies that told ET that in past one month or so, the hiring level has either touched or is close to touching the pre-covid levels.

    E-commerce companies like Amazon, Flipkart seek time to comply with labelling rule

    Companies have been asked to provide feedback within a fortnight about the modalities after discussing it with sellers on their platforms.

    91springboard raises Rs 45 crore in fresh funding

    As soon as the lockdown was announced in March, 91springboard had paused it’s billing cycle on membership plans offering some respite.

    Startups like Zomato, Oyo offer more Esops to staff to ease pay cut pain

    In April, Zomato initiated a voluntary salary reduction programme, which also offers affected employees’ additional stock in lieu of the cash cut from their pay cheques.

    Tata Consumer Products ties up with Domino's Pizza, Zomato to deliver essential goods

    These channel partnerships have been done in a phased manner, with Flipkart being the first e-commerce platform to enable the availability of its essential products in Mumbai, Bengaluru and Delhi.

    Restaurants find business opportunity in home delivery of gourmet food

    In a pandemic-struck world, where going to a restaurant has become anxiety-ridden or bothersome, some Indian restaurateurs have decided to take gourmet food and great experiences to the customers.

    Amazon, BigBasket get nod for liquor delivery in West Bengal

    State-owned West Bengal State Beverages Corporation Ltd (BevCo) invited the two companies to sign the agreements for empanelment for home delivery after finding them eligible, as per a notice dated June 19.

    October seeing a notable uptick in food and beverage revenues

    If five-star chains ITC Hotels and Indian Hotels Company have launched food delivery apps to deliver signature dishes from their restaurants at customers’ doorsteps in top cities, some others such as Massive Restaurants and First Fiddle are launching delivery-only brands.

    Cheque-mate? Startups’ China funds may dry up

    Chinese investors are the biggest backers of the country’s fast-growing digital economy.

    Covid-19: Orders on Zomato, Swiggy go down by 60%

    Zomato said it has been operating at 30% delivery capacity. The company has also been facing issues across cities while delivering food despite being classified as an essential service.

    Swiggy offers Jumpstart Package for restaurant partners to resume operations

    The food ordering app has also activated bi-weekly payment options to enable smooth cash flows for partners, it said.

    PolicyBazaar arm cuts over 1,500 jobs

    Owing to the coronavirus impact, other unicorns and large startups like Oyo, Curefit, Swiggy, Ola, and Zomato too have had to cut their team sizes by 10-30%, while some have placed additional staff on furloughs.

    Zomato smells opportunity in groceries, pings Grofers, BigBasket

    This is a major step towards diversification and a move to keep demand high at a time when most businesses are registering a slowdown. Online food ordering has taken a hit in the past week with order numbers falling by as much as 20%.

    Customer spending getting back to pre-COVID levels: AU Small Finance Bank

    AU Small Finance Bank is experiencing an increase of 23 per cent in per day debit card spends. Overall, point-of-sale (PoS) and e-commerce transactions witnessed a surge of 16 per cent since the launch of the festive offers, it said in a release. The bank is already witnessing a bounce back in spending to pre-COVID levels, it added.

    Paytm, Zomato, BigBasket, others could run into India’s great FDI wall

    Chinese investors have emerged as the biggest backers of the country’s startup economy.

    Info Edge set to raise new $100 million fund

    The fund also comes at a time when overall investment activity is slowing down due to the Covid-19 pandemic.

    The consumer returns! Discretionary demand back with a bang

    As the economy gradually opened up from the lockdown since June, consumers have stopped stocking up FMCG goods and the tailwind has started weakening. On the other hand, discretionary demand, in the form of pent-up buying, seems to be picking up, said analysts.

    Can B2B venture turn the tide in favour of long-depressed Just Dial?

    UBS recently hosted the Just Dial management for a demo launch of its B2B platform, JD Mart. On Tuesday, UBS came out with a ‘buy’ rating on the stock and raised its price target to Rs 800 from Rs 640 earlier, citing significant value accretion from the B2B venture.

    Cipla Health partners Swiggy, Zomato, Dunzo for home delivery of OTC wellness products

    A home-delivery system makes it very convenient and safe for customers to get access to the wellness products, which otherwise might be difficult due to these lockdown conditions, the company said in a statement.

    Zomato lets go of exclusivity for cloud kitchens

    The move — which essentially allows these restaurants to list on rival platforms such as Swiggy — underlines a major shift in strategy for Zomato.

    BigBasket, Grofers, other e-grocery firms see rise in non-metro users

    Grofers said it was able to retain 62% of users who came on board in March after the nationwide lockdown, adding it expects to retain around 50% of new users in the long term.

    Punjab government ties with Zomato, Amul, Swiggy, chemists for doorstep supply

    Passes were also being issued to authorized vendors for the supply of essential goods, according to DGP Dinkar Gupta, adding that for home delivery of Medicines, in particular, necessary tie-ups are being made with the respective Chemist Associations, so that orders can be taken on phone and home delivery is accordingly undertaken.

    Zomato, Swiggy will have new competition. The restaurants

    Terming aggregators as ‘virtual landlords’, Anurag Katriar, President, National Restaurant Association of India (NRAI) says there is an urgent need for the sector to reduce their dependence on such platforms. To safeguard its interest, restaurants are now collectively coming up with their own loyalty scheme, bill settlement technology and even a home delivery solution. This pits the restaurants directly against the likes of Zomato and Swiggy.Zomato, Swiggy will have new competition. The restaurants

    Paytm, GOQii, Dream11 founders take Google billing row to MeitY virtually

    Nearly 40 entrepreneurs presented their concerns about Google's policies and dominance of the country's digital applications market to MeitY secretary Ajay Sawhney.

    Lockdown: Godrej Consumer partners Zomato, ShopKirana, Zoomcar for delivery of essential items

    Earlier three FMCG makers - ITC Foods, Marico and Britannia - had announced partenships with several firms to get their products delivered at consumer's doorsteps by using the service of app-based aggregators.

    Mahi tributes continue, Zomato gives 100% off on food orders in Ranchi; Parle G, KFC, Google use witty lines for MSD

    KFC India posted a picture of an empty chicken wing bucket and wrote ‘The Greatest Finisher’.

    Zomato acquires Uber Eats in an all-stock transaction

    The all-stock transaction will give the US-based ride-hailing company about 10% shareholding in Gurgaon-based Zomato.

    ‘India may see 10 startup IPOs in 3 years’

    India could see at least 10 internet companies going public in 2-3 years. This, after the financials of startups became more real and viable in the long term with less dependence on equity capital funding, according to one of India’s top venture capital investors.

    Foreign direct investment proposals with even the smallest Chinese holding will need government nod

    In April, when the Cabinet approved the plan for the screening of foreign direct investment proposals from countries bordering India, the government had discussed the option to set the threshold at either 10%, the provision in the Companies Act, or 25%, the prescription in the Prevention of Money Laundering Act.

    CarDekho lays off 200 employees, up to 22.5% pay cut for rest

    When contacted by ET, a spokesperson for CarDekho confirmed the layoffs and pay cuts, without answering specific queries or providing details.

    Rebel Foods to expand beyond cooked meal brands, brews a new food kits plan

    The idea is to extend cases beyond restaurants and create products for customers for use in homes.

    Lee Fixel returns with Addition, leads $35m round in Inshorts

    His maiden bet in India from Addition comes at a time when New York-based Tiger Global has been actively investing in the country under Scott Shleifer with recent big investments include Zomato and Byju’s.

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