Zomato is the first Indian E-commerce unicorn to break even. Isn’t that fantastic?
Zomato is a restaurant search and food delivery service founded in 2008 by Deepinder Goyal and Pankaj Chaddah. It currently operates in 23 countries, including India, Australia and the United States. It features restaurant information such as scanned menus and photos sourced by Local Street teams, as well as user reviews and ratings.
The company also provides cashless payment, online ordering, white-label apps, table reservation, and point-of-sale systems. The company lately announced that it has hit break even and will become profitable by mid-2016. Let us tell you that if it happens, Zomato will become the country’s first e-commerce unicorn to do so. It has not only made itself stand out from the lot but has also set a big example for the entrepreneur industry and for those who find that it is difficult to make it big in India and worldwide.
The CEO and founder of Zomato, Deepinder Goyal on the big achievement of the company, said, “We don’t need funding to keep our lights on. Our unwavering focus is on making money. The bulk of our revenues come from advertising and we have doubled our ad revenues in the last four months while keeping costs stable. We are not hiring for the moment, and we are keeping tabs on every little bit of spending we do.”
Haven’t tried Zomato yet? It seems this is the appropriate time to go it and never have a bad meal.