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Zomato Gold launched in UAE

  • Zomato is a popular restaurant search service that was founded as 'Foodiebay' in 2008 by Deepinder Goyal and Pankaj Chaddah.
  • The online food service, which started out of Deepinder's apartment, has now expanded to nearly 23 countries across the globe.
  • Now with over 2,000 employees under its belt, the company sees a whopping 90 million visits every month across their website and mobile applications.

  • Chronicling Zomato's growth
    Growth story
  • After starting out as Foodiebay in 2008, the company's founders rechristened its name to Zomato in 2010, in an effort to attract more visitors.
  • During their first year, Zomato had around 10,000 restaurants listed on their portal.
  • After acquiring US-based Urbanspoon for $52 million, Zomato entered the thriving food markets in Canada, Australia and the US.
  • It now has over a million restaurants listed.

  • Zomato's shift in strategy lays off 10% of its workforce
    16 Oct 2015
  • Zomato, valued at over a billion dollars, announced last year that the company was looking to shift to a more revenue generating model that will focus on reservations and ad-sales.
  • The company's earlier model focused on content teams who collected data directly from the restaurants listed on the portal, which did not reap much revenue.
  • The shift marked around 300 employees losing their jobs.

  • Zomato's valuation slashed by half
    09 May 2016
  • Food service start-up Zomato's billion-dollar valuation was slashed by half earlier this year by brokerage firms HSBC securities and ratings firm Jefferies.
  • HSBC said in a report that the company's advertisement heavy business model is burning more cash, amidst rising competition in the food ordering space.
  • Jefferies followed suit and dropped the valuation on Zomato by half to $500 million.

  • Zomato to launch new initiatives to garner greater revenues
    14 Nov 2016
  • Zomato is eyeing greater profitability and revenues through the launch of two new initiatives by the company, Zomato Red and Zomato Infrastructure Services.
  • These services are scheduled to be launched between February and June next year.
  • The initiatives come in the wake of Zomato battling to create a profitable business and turn around the company to achieve sales of around $50-60 million next year.

  • Specifics: What do the new features focus on?
  • Zomato Red is a subscription-based membership feature that will enable users to avail offers like happy hours and deals across pubs and restaurants.
  • Zomato Infrastructure Services will help create kitchen areas in regions where there aren't many restaurants and help these restaurants to cater to Zomato clients through the kitchen space.
  • Zomato's revenue will be the commission, almost 35%, earned for every order.

  • Zomato Gold launched in UAE
    18 Mar 2017
  • Zomato has launched a gold membership scheme in UAE and the service is likely to come to India in June 2017.
  • Gold members in UAE get two rounds of 1+1 drinks on any beverage at participating restaurants, bars, and lounges at any time and on any day of the week.
  • There are 3-month, 6-month and 12-month membership options.

  • This post first appeared on NewsBytes: Latest News, Breaking News India, Today News, Current News, please read the originial post: here

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    Zomato Gold launched in UAE


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