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Showing posts with label Zomato. Show all posts
Showing posts with label Zomato. Show all posts

November 29, 2013

Internet Start Up Review :Zomato

Name of the Start Up : ZomatoCategory :Online Food ReviewFounders:Deepinder Goyal and Pankaj ChaddahNationality: IndiaLife before start up : Employed  at Bain consultancy

Little did Goyal and Chaddah imagine when they were waiting  in the line at the Office cafeteria one day in 2008  that " they had created one of India's biggest consumer Internet Company

What if "  they could browse through the nearby restaurants on  the web,  zero in to a " Take home" counter and place the order online or perhaps click to call.

that was the time when the couple founder at Zomata decided to quit their jobs and get into their first love " starting an internet venture that would tap into the wisdom of crowds.. users could rate the  food joints, write their experiances on the cuisine , cust service and quality  which in turn could be "curated and rated by anyone  who ordered the food  . This was a viral self sustaining  model, which added a new distribution channel for the  Food Joints, and for consumers, they could order something via a click in their mouse ...and have their food delivered at home"

Zomato  now has a presence in 11 countries and lists 180,000 restaurants. Zomato gets over  15 million visits a month with  monthly revenues touching over 30 million

5 years ago in 2008 zomato revenue numbers barely exceeded  Rs 1.5 lakh a month

Apart from being a Indian media's biggst and hottest  internet poster boy, it ensured that  zomato's valuation was equally attractive, with latest reports claiming that Zomato is worth more that 100million

Zomato was nurtured  and supporte by PE among which  it raised d $37 million from Sequoia Capital and Info Edge India Ltd to fund its expansion in overseas markets.

Zomato's valuation has jumped as well, with some media reports pegging it close to Rs 1,000 crore after it received investor funding for the fifth time in three years. On November 6, Info Edge, which runs job portal, and venture capital firm Sequoia Capital invested a total of Rs 227 crore in Zomato. Info Edge had invested in Zomato at each of the previous four stages, too. It has now pumped in a total of Rs 143 crore in Zomato and holds a 50.1 per cent stake.