Zomato: The Origin, Funding and Outlook

Zomato is one of the finest products from India, it is one of the most used food directories. It was launched in 2008 by Deepinder Goyal and Pankaj Chaddah.
Zomato is one of the finest products from India, it is one of the most used food directories. It was launched in 2008 by Deepinder Goyal and Pankaj Chaddah.
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Want to order food from outside? You rummage around the various menus, choose your bistro then select what you wish and order, right? That is when all we think about is ‘Zomato’, a food delivery service that brings your most treasured dishes directly to your home or office. It is the one key solution to weight gain …and no it’s not a gym offering a special weight-gain program! It’s like a ‘one-stop solution’ to all your cravings for nutty crackers, spicy griller burgers, mouth-watering cocktails, pubs, etc., or in other words, an online temple where you end up going every now-n-then but for one major selfish reason called “food”.

 

Origin of Zomato

Zomato is one of the finest global products from India, it is one of the most used food directories. It was launched in 2008 by Deepinder Goyal and Pankaj Chaddah, both of them being IIT Delhi graduates. It was previously called “Foodiebay”. The idea was to sponge around for diverse restaurant menus under one roof.  It started with a simple foundational idea- an internet directory for restaurant menus. They created “FoodieBay” in order to solve a problem which they faced while dining in restaurants. They started with a simple foundational idea- an internet directory for restaurant menus.

 

Initially, the team of FoodieBay was just 6 in number but in 9 months, they became the biggest restaurant directory in the Delhi NCR region by late 2008. After two years of operations, it was renamed as Zomato in 2010, because of the name looked familiar and sounded a lot like “ebay”. So, as to avoid legal; conflict the name was changed to Zomato.

 

Funding Plan for Zomato

Funding for the company started picking pace in 2010. By 2011, Zomato was established in big cities like Pune, Bangalore, Hyderabad, Chennai, and Ahmedabad. The company introduced its mobile application at a good time. By 2012, the overseas operations of the company started operating in the UAE, Sri Lanka, Qatar, United Kingdom, Philippines, and South Africa becoming a part of its user base. In 2013, Turkey, Brazil, andNew Zealand were also added, eventually. In 2013 Zomato acquired Portuguese company Gastronauci and one from the Italy, Cibando. A big step was made when they got a hold of the American service called NexTable. It catapulted Zomato into the US market’s competition. It acquired MapleOS in 2015 in order to expand operations and build a new customer database. This increased the functionality of Zomato. It helped to allow it to offer online table reservations and mobile bill payment. In the year 2017, the online ordering services of Zomato also crossed the milestone of 3 million orders in a month. Every milestone made Zomato Media Pvt. Ltd.; the newest Indian Unicorn company on the blocks.

With a series of massively successful business tie-ups like Zomato Gold and online food delivery, it has established a heavy consumer base, especially in India. The company has definitely had its shares of ups and downs but has always emerged to survive.

 

Outlook

The company has had a turbulent initial few years, but since 2017 things are shooting the sky. With extremely flourishing business tie-ups like Zomato Gold and online food delivery, it has established a profound customer base, especially in India. The company has gone through its own shares of highs and lows but has always emerged to survive. But this is just a trailer. The real growth is yet to come, and we are just about starting to see that change.

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