In a point-by-point e-mail, Goyal has refuted every claim made in the HSBC Securities report, and has said that Zomato is the leader in 18 out of 23 markets it is present in.
On the report’s claims that Zomato needs to heavily invest in building last mile logistics on its own, and win in the order business to defend its advertising business, Goyal said: “delivery is a small part of our advertising business”.zomato
The result comes as Zomato seeks $200 million in funding, a source close to the group said, in an increasingly tough environment for start-ups.
“We are shutting down the ordering business in Lucknow, Kochi, Indore, and Coimbatore,” Zomato Co-founder Pankaj Chaddah said.
With a big push from smartphone-driven Internet growth, 2015 was the year in which e-commerce in India came into its own.
Zomato’s in-app chat feature is available on the regular Zomato app and the Order app from the company.
Zomato has announced its plans to start accepting table reservations and will introduce cashless facility in India soon
Zomato has tied up with Paytm for online delivery payments and launched a new tech suite for restaurants as well
Zomato has made a ‘strategic’ investment in two hyper-local delivery companies — Pickingo and Grab. It has also has up with logistics firm Delhivery.
Deepinder Goyal, co-founder, Zomato says India and UAE are our biggest and most profitable markets right now.
Zomato’s Foodie Index will help people to compare locations based on the availability of quality restaurants while deciding where to stay.
The Zomato Order app is available for download from Google Play Store and the Android iOS store.
Zomato has now teamed up with the taxi-booking app Uber to allow users to book a cab to the restaurant where they plan to dine.
Zomato has just updated its app and one of the biggest additions to this new app is the new food online ordering option.
This takes Zomato’s total funding to over $113 million.