Stock Market update: Zomato shares jump 3% post record new year sales | Business Upturn

Stock Market update: Zomato shares jump 3% post record new year sales

Zomato & Swiggy had crossed 7,000 orders per minute, setting new records for the food tech unicorns.


Food delivery platforms Swiggy and Zomato saw a spike in orders on New Year’s Eve (NYE) with cities like Delhi, Mumbai, Bengaluru and Chennai placing curbs on celebrations amid the new Covid variant omicron.

Both the food tech unicorns said around 9 pm on Friday that they had crossed 2 million orders for the day. “Zomato saw 6,000 orders per minute at around 7 pm–its highest ever–on Friday and it expected the number to shoot up further and peak at 8:30 PM,” according to Zomato’s Co-Founder and CEO Deepinder Goyal.

The food delivery giant saw a massive surge of two million orders in a day which happened to be on new year’s eve of 2021. An exhilarated Goyal was seen to be live-tracking the orders from across the country.


The company also said it had clocked over Rs 100 crore in gross merchandise value (GMV) which shows the value of the food ordered on its platform as compared to Rs 75 crore it had posted last year on December 31, 2020. Zomato’s arch-rival Swiggy also said its order book grew 62 per cent while GMV went up 61 per cent as compared to last year.

In a bid to showcase the prowess of both the platforms, co-founder of Zomato Deepinder Goyal and Swiggy’s co-founder Sriharsha Majety took to Twitter and live-tweeted the orders per minute (OPM) throughout Friday evening. At 9 PM on Friday, Swiggy said it had crossed 2 million orders while Zomato touched 2.5 million orders as of 11:15 PM.