Zomato Founder | Business Upturn

Zomato’s new launch aims to bring the nation’s delicacies to your doorsteps

Pranay Maniar — Tue, 30 Aug 2022 13:36:31 +0000

Deepinder Goyal, the founder and CEO of the food delivery app Zomato, announced the launch of “InterCity Legends” via their blog on the website.

Intercity Legends aims to bring foods and delicacies of the nation from different cities to your doorstep.

As Goyal mentioned in the blog,” With our new launch ‘Intercity Legends’, no matter where you are, you can order and relish legendary dishes like baked rosogollas from Kolkata, biryani from Hyderabad, MysoPakpak from Bengaluru, kebabs from Lucknow, butter chicken from Old Delhi, or pyaaz kachori from Jaipur.”

His blog stated that the food delivery giant is piecing out ways to bring signature delicacies of different cities to the customer’s doorstep.

How will the dishes reach you?

Zomato aims to deliver such dishes using and leveraging its vast countrywide network of delivery partners to provide customers with one-day delivery. The food will be freshly prepared and packed by the restaurant in reusable and tamper-proof containers along with “state of the art” refrigeration which eliminates the use of preservatives and freezing and will be shipped to its destination via flight, leveraging India’s 100+ airports.

Zomato has assured that all the dishes have undergone lab tests in order to ensure “high quality” of aroma, taste and texture.

When will this be available?

Intercity Legends will commence operations for “select customers” in Gurugram and South Delhi and it will be “rapidly scaled” to other cities in the coming weeks.

Will this be a profitable venture?

Even for those who crave food from their hometown, an intercity delivery can be highly expensive, with the total cost of the dish and delivery sometimes exceeding the cost of ordering the same dish inside the same city.

Additionally, even though Zomato might make a sizable profit margin, the business must factor in the expected high cost of air cargo. Additionally, the business will probably need to spend money on a hub for cities with higher order volumes.

Zomato is optimistic about growth in this segment as they cited,” A jewel hides in every nook and corner of India. With over 100 airports and a rich spread of the most iconic dishes that India has to offer, the sky is the limit to how big Intercity Legends can become.”

Zomato is launching grocery delivery through Blinkit on its app in Delhi-NCR

Pranay Maniar — Sat, 27 Aug 2022 12:20:25 +0000

Through a combination with the rapid commerce business Blinkit, which the Gurugram-based food aggregator recently bought, Zomato has begun testing grocery delivery on its app.

On August 27, clients in Delhi and the National Capital Region (NCR), commonly known as the NCR, were able to order goods through the Zomato app, but Bengaluru and Mumbai were not included. The Zomato app’s minimum order amount was Rs 49, whereas the Blinkit app’s was Rs 150.

Additionally, Colgate-Palmolive products were listed in the grocery section of the Zomato app with the label “sponsored,” indicating that the company uses the platform for ad monetisation like other e-commerce businesses.

Zomato is making its third try to dominate the supermarket market. It was originally attempted in 2020 during the Covid lockdown, but as the restrictions were loosened, demand decreased.

Given the significantly bigger digital ad spend budgets of consumer packaged goods (CPG) firms, Zomato founder Deepinder Goyal had earlier predicted that fast commerce’s ad sales revenue will be more than food delivery.

Earlier Blinkit had launched a printout service in Gurugram, charging Rs 9 a page for black and white printing and Rs 19 for coloured printouts.

“Quick commerce will help us increase the customer wallet share spent on our platform and also drive higher frequency and engagement from our customers,” Goyal had said while explaining the rationale behind the deal.

According to the business, fast commerce naturally encompasses a variety of product categories, including stationery, various gift goods, electronics, beauty & personal care, and OTC pharmaceuticals. Additionally, areas other than groceries aid the rapid commerce business in achieving better average order values and profit margins.

Food Delivery giant Zomato denies media reports of filling drafts with SEBI

News Desk — Wed, 28 Apr 2021 14:26:25 +0000

Deepinder Goyal, the founder of Zomato in a tweet said, “Wouldn’t typically comment on speculation but had to stop the barrage of phone calls from the press and friends/family. Back to work (sic).”

According to a report of MoneyControl, Zomato was likely to file draft papers with market regulator SEBI on April 23. The publication further stated that on Thursday, the company’s internal review of the draft and other processes was completed.

In all streets, Zomato’s Initial Public Offering is much anticipated and it will trigger the listing of many startups of India. Zomato had converted itself from a private company to a public one by amending its Memorandum of Association and renaming itself Zomato Limited. It said that the move to convert itself into a public limited company was necessary to file IPO papers with SEBI.

According to a report published in The Hindu, SEBI has tightened rules for provisional debt rating. Credit Rating Agency (CRA) is going to check the pendency of compliance. Market regulator SEBI has come out with all new framework to strengthen policies on Provisional Rating Agency. Compliance cost refers to all the regulations that the industry pays to adhere to industry regulations. SEBI has stated that under the new framework, all provisional ratings, long term or short term, for debt instruments, need to be prefixed as ‘Provsional’, before rating symbol in all its communications. These communications include letters, press release and rating rationale.

“In no case shall a rating, including provisional rating, be assigned by a credit rating agency for an issuer or client evaluating strategic decisions such as funding mix for a project, acquisition, debt restructuring, scenario-analysis in loan refinancing,” SEBI said.