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Think of this. You have ordered food online and have marked it as cash on delivery. The delivery person arrives and the bill amount is Rs 488. You hand over Rs 500 to the delivery person and there’s that commonly heard phrase, “change nahi hai kya.” Most of us have been in situations like these and now that <keyword id="20030235" type="General" weightage="20" keywordseo="UPI-payments" source="keywords">UPI payments</keyword> are more common than ever, hardly anyone seems to be carrying change. Food delivery giant <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> seems to have found a solution to this problem. The company’s CEO <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword> announced in a post on X that delivery partners can now add COD orders’ balance amount to a customer’s <keyword id="22710108" type="General" weightage="20" keywordseo="Zomato-Money-account" source="keywords">Zomato Money account</keyword> instantly. That way, nobody has to worry about carrying change. <h2>Zomato CEO has answer to your change problems</h2>In his post on X, Goyal wrote, “For cash on delivery orders, finding exact change can sometimes be inconvenient. Starting today, our customers can pay delivery partners in cash, and ask for the balance amount to be added instantly to their <keyword id="22700688" type="General" weightage="20" keywordseo="zomato-money" source="keywords">Zomato Money</keyword> account. This balance can be used towards future delivery orders or dining out.” Goyal also acknowledged that this idea was inspired by Tata group-owned <keyword id="20041313" type="General" weightage="20" keywordseo="Big-Basket" source="keywords" meta.keywordsubtype="org" meta.entityname="Big Basket" meta.hostid="261" meta.entityid="Big Basket">Big Basket</keyword>. “Thank you @bigbasket_com for the inspiration for this solution, and our delivery partners (three of them are working as product managers with us) for insisting that we develop this asap,” he wrote. <h2>Zomato earns crores from platform fee</h2>Zomato was also making headlines earlier this week for raking in a lot of moolah by charging platform fees. The company started charging platform fees in August last year and this has proved to be a successful business move. During its annual report, Zomato revealed that it has collected Rs 83 crore till March from levying platform fee. For the unversed, platform fee is a small additional charge that the company adds to your order. Think of it as a convenience fee for using the app's services, including delivery, customer support, and the seamless experience of browsing through hundreds of restaurant options. Initially, the company used to levy Rs 2 per order as platform fee. But that amount has grown in the last year and today Zomato charges Rs 6 as platform fee in key areas. It can be located when you load the bill details of your order.

Zomato announces new feature for cash on delivery orders and it can help solve a huge problem

When A (name kept anonymous) bought tickets for the 2025 <keyword id="22044624" type="General" weightage="20" keywordseo="Coldplay-concert" source="keywords">Coldplay concert</keyword> in Mumbai from a certain “concert organizer” account on <keyword id="19900288" type="General" weightage="20" keywordseo="instagram" source="keywords">Instagram</keyword>, they were over the moon. Yes, the tickets were exorbitantly expensive, way above the prices advertised on <keyword id="20215809" type="General" weightage="100" keywordseo="BookMyShow" source="keywords" meta.keywordsubtype="org" meta.entityname="BookMyShow" meta.hostid="261" meta.entityid="BookMyShow">BookMyShow</keyword> (BMS), the official ticketing partner. But so what? What mattered was that they could finally attend Coldplay's concert. At 12 noon on September 22, when bookings for Coldplay’s 2025 India leg of “Music of the Sphere” world tour had commenced, A was also in line, having logged in since 11:30 am, from 4 different screens and through 6 cousins. But God, and BMS were in no mood to reward her efforts and patience. The ticket sale lasted for a mere few seconds, before the site crashed and all tickets were sold out. Turns out, even the second time wasn’t the charm for them. The first time, too, A had not been able to get tickets for Diljit’s Dil-luminati India tour, which had gone live earlier last month. They had applied for an HDFC Pixel credit card to access the early-bird offer, but it was as if luck was taunting them “vibe teri meri na mildi aa”. could not get tickets for Diljit’s concert as well, which had also vanished within minutes of going live, much like Coldplay's. That’s why, when they saw that tickets for both Diljit and Coldplay were being sold by various Instagram accounts, despite showing as sold out on <keyword id="20496317" type="General" weightage="20" keywordseo="Zomato-Live" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato Live" meta.hostid="261" meta.entityid="Zomato Live">Zomato Live</keyword> and BookMyShow, it seemed magical to A. And per Coldplay, “If you were to ask me, after all that we've been through. Still believe in magic?”, the only acceptable response is “Yes I do, of course I do!” So, they went ahead, agreed to pay Rs 35,000, and bought Coldplay tickets which would’ve cost them Rs 6,450 via BMS. A steep price to pay, but at least they had their ticket to “an experience of a lifetime!”. As it is, the band had announced its retirement post its 12th album, and the band had just launched its 10th album, "Moon Music". <h2>BookMyShow to “fix” scalpers?</h2>But this morning, BMS startled many people like A by stating that unethically sourced tickets (read: tickets not directly booked via BMS) could be canceled. The platform had already filed an FIR to this effect with the <keyword id="19906039" type="General" weightage="20" keywordseo="Mumbai-police" source="keywords">Mumbai police</keyword> on October 2, 2024, against the rampant “ticket scalping and black marketing of tickets for Coldplay's <keyword id="22420646" type="General" weightage="20" keywordseo="Music-of-the-Spheres" source="keywords">Music Of The Spheres</keyword> World Tour 2025 in India”. The ticketing platform added that they had provided details of all resellers that had caught their sight, including independent individuals reselling tickets for Coldplay’s tour across social media platforms such as Instagram (where A had purchased their tickets from) and WhatsApp. Not just these small resellers, but multinational ticket exchange and <keyword id="23273060" type="General" weightage="20" keywordseo="ticket-resale" source="keywords">ticket resale</keyword> platform <keyword id="23278340" type="General" weightage="20" keywordseo="viagogo" source="keywords" meta.keywordsubtype="org" meta.entityname="viagogo" meta.hostid="261" meta.entityid="viagogo">Viagogo</keyword>, and its parent company StubHub Holdings have also been served legal notices by Zomato Live and BMS. While Zomato Live has not commented on if the tickets purchased via Viagogo or such scalpers would be canceled or not, it is no secret that hours after the tickets were shown as sold out on these official sites, tickets for both Diljit and Coldplay’s concert were available on Viagogo, albeit at sky-high prices. Even as of today, you can buy tickets for Coldplay’s concert in Mumbai’s DY Patil Stadium on January 19th, 2025 on Viagogo. The catch? You should be willing to empty your pockets. Consider this. Tickets for level 2 stand E were priced at Rs 9,000 on BMS. On Viagogo, the tickets for this specific category start at Rs 54,431, and go as high as Rs 1,89,512. The tickets A bought were also originally priced at Rs 6,450. But on Viagogo, the starting range is Rs 31,288, going up to Rs 1,13,207. Talk about earning 5x-6x returns! In comparison, the ticket prices offered by these Instagram reseller accounts, also termed as scalpers, might look benign, even generous. But at the end of the day, scalpers are also looking to rake in profits, which they earn by selling these tickets in bulk i.e. lots of 5-10 tickets at once. After all, who is attending concerts alone? The slim margins on individual tickets are well cushioned by the extra bucks brought in by the higher quantities of tickets sold at once. Consider this: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Phase/Level (For Diljit’s Concert) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Original Price (As shown on Zomato Live) (In Rs) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prices offered by an IG account reselling tickets for Delhi (26th October, 2024) (In Rs) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Silver </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,499 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,399-3,999 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gold Standing (Phase 1,2,3) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 4,999-8,999 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,999- 10,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fan Pit (Standing) Phase 1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,999 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fan Pit (Standing) Phase 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,999 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Zomato Live, IG accounts of resellers/scalpers <h2>Modus Operandi</h2>Most scalpers don't demand the entire money upfront. In A’s case, the scalper demanded a 20% advance for booking confirmation. Others ask for as much as 50% of the booking amount. Once that’s done, the customer would get an e-ticket on their registered email ID, which will mention their seat number and booking ID. Then, once this customer pays the remaining amount, the physical tickets will be dispatched to their registered address. Mind you, these physical tickets are important. Just e-tickets won't make the cut for both Coldplay and Diljit. You would not be able to enter the venue if you don't have this physical ticket or a wearable band. So, if the tickets are not delivered to your place before the concert, you’d be left stranded, even after paying all that money. Also, dont be surprised with a constant, relentless barrage of messages and calls, if you so much as just inquire about the tickets. Most scalpers, in a bid to quickly close on the opportunity, call incessantly, not giving buyers enough headspace to make rational, or for that matter, rationally priced decisions. But even after all the hassle, there is no guarantee of timely, or even delivery. While there were multiple screenshots on each of these pages, showing confirmation from various Instagram users saying that tickets had been delivered, but is that convincing proof enough? Or legal enough? <h2>Its legit, its not legit-No one knows! </h2>Well, it's a gray area, truth be told. But Germaine Pereira, Partner, Solomon &amp; Co. underlines that if the buyer is willing to pay a premium or higher price than the ticket’s original face value, it is valid, and perfectly legal under the Indian Contract Act, 1872 “Ticket resale or scalping, where individuals or entities buy tickets for specific events, and then resell such tickets at a higher price to make a profit, is valid if it meets the essential elements of a contract-offer, acceptance, consideration, and lawful object. Unless there is a clearly established motive of cheating or fraudulent inducement or exorbitant pricing of tickets in the secondary markets, there’s nothing wrong”, continues Pereira. State governments are also largely reluctant to establish regulations in these waters, since a resale would entail double entertainment tax, which only adds to their coffers. Says advocate Siddharth Chandrashekhar, Senior Panel Counsel at Bombay High Court, "Although some state police forces, like in Tamil Nadu, Karnataka and Punjab, have cracked down on illegal sales, arrests are rare, and the absence of cohesive legislation leaves enforcement inconsistent. Black marketing or reselling of live event tickets at escalated prices constitutes an offense under the Bharatiya Nyaya Sanhita 2023 for petty crimes, the Consumer Protection Act 2019 for unfair trade practices, and the Competition Act 2002 for abuse of dominant position”, Chandrashekhar highlights. “While Maharashtra’s Entertainment Duty Act, 1923, attempts to curb resale for some events, most states lack clear laws addressing scalping. Concert ticket scalping in India operates in a regulatory vacuum. With no specific national laws, opportunistic sellers can legally resell tickets for exorbitant sums, with no recourse for buyer”, he signs off.

'Will my tickets get canceled now?' people who purchased tickets from scalpers during the Diljit-Coldplay mania ask

Both online <keyword id="6376068" type="General" weightage="20" keywordseo="Food-Delivery" source="Orion">food delivery</keyword> platforms charge some money from customers in the name of delivery fees. There is often a dispute between tax officers and food delivery apps regarding the delivery fee, which involves nearly Rs 1000 crore, according to the reports. When reached for a comment, <keyword id="830092" type="General" weightage="20" keywordseo="Zomato" source="Orion">Zomato</keyword> refused. <keyword id="6358977" type="General" weightage="20" keywordseo="Swiggy" source="Orion">Swiggy</keyword> did not comment either. As per Zomato and Swiggy, 'delivery charge' is nothing but the cost borne by the delivery partners who go to deliver food from door to door. Companies simply collect that cost from customers and pass it on to delivery partners. But, tax officials do not agree with this, as per the reports. Last month, Swiggy increased the platform fee from Rs 2 to Rs 3 for food orders. A Swiggy spokesperson told IANS, that "there has been no significant change on platform fee, which is applied by most service players and is a common practice across industries". In April, the company introduced a platform fee of Rs 2 per order, irrespective of the cart value. In August, Zomato also increased its platform fee to Rs 3 per order from an initial Rs 2. Zomato started charging the platform fee from Zomato Gold users, who were previously exempted.

Zomato, Swiggy slapped with Rs 500 crore GST each: Report

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s promise to turn net profit positive in a year has cheered investors. </li><li>Margins in its core food delivery business has hit a multi-quarter high. </li><li>The worry? Monthly transacting users and gross order value has declined versus the previous reported quarter. </li><li>Nomura believes Zomato will find it difficult to achieve double-digit contributory margin with high growth in the long term </li></ul>Two years after it listed on the bourses, Zomato is on a recovery path. The stock which hit a high of over ₹150 per share fell sharply subsequently to below ₹50 a piece. However, the last quarter (Q1FY24) has seen a recovery from that level and it has now surpassed its listing price of ₹76. The stock has been rising steadily in the last three weeks, after its Q4 earnings report where it turned EBITDA positive in its core business, without including Blinkit, its quick commerce business. EBITDA is net income (earnings) with interest, taxes, depreciation, and amortisation. Moreover, the management also promised to turn positive not just at the consolidated adjusted EBITDA level but also at the profit after tax level in a year. Financial services company, JM Financial says this commitment is the ‘cherry on the cake’. “Tough macro posed growth headwinds but management showed urgency on profitability and that was despite the Gold programme launch,” said Jefferies. Zomato Gold is a subscription plan that offers free deliveries within a 10-kilometre radius for orders above ₹199. During the quarter, as many as 30% of the gross order value, from 1.8 million customers, came from Gold. The Gold plan could hurt its contributory margins (CM) because of its inability to charge every order. Yet, as of Q4, its CM in core food delivery business are comfortable after hitting a multi-quarter high. Contributory margins represent the incremental money generated for each unit sold after deducting the variable portion of the costs. “The core business milestone was achieved mainly on the back of solid expansion in the food delivery contribution margin to 5.8% in Q4 vs 5.1% in Q3. This was because profitability levers such as improvement in restaurant commissions and ad income, and lower discounts/variable cost offset the adverse impact of Gold launch,” said JM Financial. Ordering effects After the post-pandemic boom effects faded away, a lot of consumption patterns have changed, also evident in consumer spending on fast food — impacting growth in quick service restaurants. These headwinds have been impacting Zomato as well. The growth in Zomato’s food delivery business seems to have flatlined. Food gross order value declined 2% quarter-on-quarter, even as it grew 12% year-on-year. Moreover, its monthly transacting users (MTU) declined by 5% QoQ to 16.6 million, while growing at 6% YoY. Apart from the one-time impact of its decision to exit from 225 cities, the company attributes MTU decline to optimised marketing spend and withdrawal of the human support interface for abusive customer cohorts. “Also because of Zomato Gold, the MTUs have come down and not gone up because we do see an impact of clubbing some orders in the same households, which might have just a single membership,” Akshant Goyal, chief financial officer of Zomato said in an earnings concall. The management, however, remains confident about food delivery ordering going up in the first quarter of FY24. Analysts, on the other hand, are not too confident about their ability to sustain growth beyond the first quarter as summer holiday and IPL impact during April/May are one-off events. Its other businesses, however, continue to display good growth. Blinkit’s gross order value grew 17% QoQ, while order volume grew 24%. Revenues of Hyperpure, its business to supply ingredients to restaurants, grew 13.5% QoQ. Offsetting margins with growth While it’s on a path to profitability, Zomato is also caught between a rock and a hard place — of growth versus margins. To boost growth, it will have to go in for discounts – the lack of aggressive discounting by all players is already visible in the moderation in food ordered during the IPL season, generally a big occasion for online food platforms. This year, the IPL spike in food ordering was at a modest 7% for the industry as compared to the 2020 IPL when it was over 50%, as per Redseer. This time, there were no high <a href="https://www.businessinsider.in/business/news/ipl-2023-sees-tier-2-cities-order-more-on-swiggy-zomato/articleshow/100673879.cms">decibel ads along with deep discounts.</a> Like other players in the business, the company will also find it tough to keep up with the high margin trajectory, while also chasing growth. “Overall, we lower our growth assumptions for its food delivery’s gross order value growth, from around 20% to around 17%, but raise our FY24F contributory margin estimate from 5.8% to 6.5%. We continue to believe Zomato will find it difficult to achieve double-digit contributory margin, with high growth in the long term,” said Nomura. Restaurant commissions grow but may hit an ONDC wall In the last two years, the company was also able to improve take rates or the commissions it charges restaurants consistently. Its take rates are now close to 18%. “Broadly, with our take rates, the mission is to be competitive, and we are lower than what the competition is charging. So, as we continue to add more value to restaurant businesses, we expect some improvement in commission revenue going forward,” said Goyal. But competition is heating up in the sector. The Department for Promotion of Industry and Internal Trade’s Open Network for Digital Commerce (ONDC) has breached the territory that was hitherto dominated by Zomato along with Swiggy. On the face of it, it might seem like restaurants might be offered better terms on ONDC. While Zomato will be able to compete with ONDC on efficiency and also even overall costs – as third party deliveries might be costlier– HSBC Global Research believes that it might flatten growth. “Estimates for food delivery revenue in the long term remain largely unchanged. Our short-term estimates change slightly as we build in a marginally slower increase in take rate,” the research firm said. In spite of short-term and long-term challenges ahead, Zomato seems to have settled into its listed company status to deliver value to investors by chasing topline growth instead of customers, with discounts.

With Zomato rallying over 25% in the past month, street looks at the road ahead

<ul><li>Zomato has ceased operations in 225 smaller cities as their performance was ‘not very encouraging’ in the past few quarters.</li><li>Analysts at ICICI Securities said that the exit in these cities “indicates disenchantment with a long tail of sub-scale operations.”</li><li>The management said that although the demand environment remains challenging, they are seeing green shoots of demand coming back in the recent weeks.</li><li>Analysts say that the relaunch of <keyword id="4299597" type="General" weightage="20" keywordseo="zomato-gold" source="Orion">Zomato Gold</keyword> in January will boost business.</li></ul>Food delivery platform Zomato has ceased operations in 225 smaller cities as their performance was ‘not very encouraging’ in the past few quarters. This comes as the company reported a widening of losses in the October-December quarter. These cities contributed 0.3% to Zomato’s gross order value (GOV) in Q3FY23. The company said that, “Performance of these cities was not very encouraging in the past few quarters and we did not feel the payback period on our investments in these cities was acceptable.” Analysts at ICICI Securities said that the exit in these cities “indicates disenchantment with a long tail of sub-scale operations.” While the new-age company disappointed investors with more losses this quarter, the management said that although the demand environment remains challenging, they are seeing green shoots of demand coming back in recent weeks. The company believes that the worst may be behind it. “We believe that the long-term opportunity remains large and exciting. We think that the current slowdown is a result of a few temporary factors – a) macro slowdown for the mid-market segment, b) boom in dining out for the premium-end, and c) boom in travel at the premium-end,” said the company in an exchange filing. Zomato posted a loss of ₹347 crore in Q3 FY23 as compared to ₹63 crore loss in the same quarter last year. However, consolidated revenue from operations for the quarter surged 75% on year to ₹1,948 crore. Adding to it, this was the first quarter with consolidation of the grocery business Blinkit. The company informed exchanges that excluding the Blinkit business, Zomato turned positive at the EBITDA (earnings before interest, taxes, depreciation and amortisation) level in January even as the food delivery business witnessed a slowdown. ‘Relaunch of Zomato Gold to boost growth’ Zomato relaunched its membership programme, Zomato Gold in late January. This programme has been built on the lessons learned from the programme’s previous avatar and after taking in feedback from customers, restaurant partners, as well as investors. Analysts at Nuvama Institutional Equities said that the prospects for Zomato’s business going ahead remain bright while it assigned a ‘Buy’ on the stocks. “We believe that Zomato Gold’s relaunch will be a big boost to growth. Adj. EBITDA of ₹230 million (vs. ₹20 million in Q2FY23) in food delivery, despite flattish QoQ GOV growth is a big plus and we remain confident of the company’s ability to generate cash,” said the brokerage firm in a report. "We expect this programme to drive loyalty and higher frequency of ordering going forward, and in less than a month, the Zomato Gold programme has scaled to 900k+ members," said the company. Most brokerage houses have maintained a ‘Buy’ rating on the company’s stock. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maintains Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maintains Overweight </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹82 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goldman Sachs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maintains Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maintains Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹70 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Citigroup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maintains Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹76 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maintains Reduce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹50 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upgrade to Hold from Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹54 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nuvama Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹74 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retains Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹82 </td></tr></tbody></table> Analysts believe Zomato may clock profitability as soon as by the end of the current financial year. “Zomato’s road to profitability has grown even more promising. Zomato (ex-quick commerce) clocked adj. EBITDA level profitability in the month of Jan-23. Depending on execution-related wins, the company (ex of quick commerce) may clock profitability in Q4FY23 itself, two quarters ahead of their guidance,” said a report by Nuvama Institutional Equities. Further, Zomato is planning to remodel the Zomato Instant service to focus on offering customers home-style cooked meals at affordable prices (to be called Zomato Everyday). “We believe that this is a large opportunity in a market like India and is relatively untapped currently. We plan to launch this soon in the next few weeks,” said the company. Shares of the company have dropped nearly 26% in the last three months. The stock price of Zomato was down 2.41% at ₹50.55 on February 14. <div type="image" title="zomato 3 mo" height="900" width="1200" msid="97907107" hostid="261" sizebytes="10362"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/nykaas-stock-plunges-4-2-after-its-q3-net-profit-slips-70/articleshow/97901748.cms">Nykaa’s stock plunges 4.2% after its Q3 net profit slips 70%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/gursaurabh-singh-asked-the-sharks-to-give-100-hours-of-their-time-for-0-5-equity/articleshow/97902173.cms">Startup that wants to give an EV twist to regular cycles seeks Sharks' time not money</a>

No long-tail effect: Zomato banks on demand recovery in future, even as it shuts operations in 225 cities on poor performance

New Delhi, After an entrepreneur complained in a LinkedIn post that a <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> delivery agent advised him to cheat the company by paying some money directly to him and enjoy the food, the company's Founder and CEO <keyword id="476451" type="General" weightage="50" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> said he is "aware" of this fraud and is "working to plug the loopholes". Vinay Sati posted that a Zomato delivery agent suggested that from next time, pay him Rs 200 or Rs 300 and enjoy food worth Rs 1,000. "Aap bas mujhe 200rs, 300rs de dena or 1000rs ke khane ke maje lena," Sati quoted the agent as saying in the post. The agent allegedly told him that "I will show it to Zomato that you have not taken the food but will also give you the food you ordered". "I got goosebumps hearing what scam is happening with Zomato," posted Sati. He ordered some Burger King burgers from Zomato and made the online payment. "And as soon as the delivery boy came after 30-40 minutes, he told me that sir, don't pay online next time," said the entrepreneur. "He said that next time when you will order food worth 700-800rs through COD (cash on delivery) you only have to pay Rs 200 for that." Sati said: "Deepinder Goyal ji, now don't say that you don't even know that this is happening?" Goyal replied: "Aware of this and working to plug the loopholes". SEE ALSO: <a href="https://www.businessinsider.in/business/news/zomato-bharatpe-nykaa-and-more-the-revolving-door-for-top-execs-at-new-age-companies/articleshow/96728402.cms">Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies</a> <a href="https://www.businessinsider.in/business/news/swiggys-losses-jump-2x-to-3629-crore-in-fy22-layoffs-coming/articleshow/96682420.cms">Swiggy's losses jump 2X to ₹3,629 crore in FY22, layoffs coming</a> <a href="https://www.businessinsider.in/india/news/delivery-agents-cab-drivers-on-ride-hailing-apps-not-making-sustainable-living-wage-says-fairwork-india-report/articleshow/96572900.cms">Delivery agents, cab drivers on ride-hailing apps not making sustainable living wage, says Fairwork India report</a>

Zomato CEO says aware of fraud at delivery agents' end, fixing it

<ul> <li>Demat account, trading application and UPI ID are mandatory if you are applying for an initial public offering (IPO).</li><li>Upcoming IPO of Zomato can also be applied before its IPO opening date.</li><li>There is already a lot of buzz around Zomato's ₹9,375 crore IPO.</li></ul>2021 seems to be a year of the initial public offerings (IPOs) with back to back listings happening almost every week. So far this year, 32 IPOs have been listed, according to BSE data. Presently, the upcoming IPO that has created a lot of buzz is Zomato, a food delivery startup that is currently valued at around $8.1 billion. Many of you may want to subscribe to Zomato’s IPO for one common reason that most of us have seen its growth journey very closely over the years. <div type="Article" hostid="261" msid="78290664" title="Best inverters for home use in India" mstype="2" mssubtype="0"></div> An IPO is the first sale of shares by a private company looking to raise capital from investors and turn itself into a public company. To invest in an IPO, you need to apply to buy a ‘lot of shares’ from the market. The bidding for these IPOs is usually open for three days particularly during market hours. Now, let us understand how to invest in IPOs. A Demat account, a trading application like Zerodha, Angel Broking etc and UPI ID on BHIM app are necessary if you want to invest conveniently in an IPO. Unified payment interface (UPI) is a banking system for money transfers on payment apps like Google Pay, PhonePe and so on. One of the simplest ways to track IPOs and invest in them is through trading platforms. Here’s how you can do it through Zerodha’s Kite application, which is meant for trading stocks and commodities. <ul><li>Login to the mobile app and select the IPO option under console. If you’re logging in through desktop, then go to console -- portfolio -- IPO.</li><li>You will find a list of IPOs that are open for investment. Select the IPO you want to invest in.</li><li>Enter your UPI ID from the BHIM app. Ensure your UPI ID is mapped to your personal bank account. </li><li>Select investor type for your application. </li><li>Enter the lot size (number of shares required to buy in one lot) announced by the company.</li><li>Tick on the cut off price for more chances of allotment of shares as it indicates investor’s willingness to subscribe to shares at any price discovered within the price band. Cut off price is the issue price.</li><li>Retail investors can bid for three lots. </li><li>After this step, click on the check box to confirm and submit.</li><li>The last step is to accept the mandate request for proceeding with IPO on your BHIM UPI app. Once you accept the mandate, the amount of funds for IPO will be blocked till the allotment. </li><li>Now wait till the allotment date of shares to see if you have received the lot size you bid for.</li></ul>Meanwhile you can also invest in Zomato’s pre application offer through Paytm Money Paytm Money has for the first time allowed users to apply for an IPO before the actual IPO opening. This feature is built to help a large proportion of investors who do not trade actively and may miss out during market hours. Basically, a retail investor can plan an IPO order 24x7 on days when a pre-open IPO is enabled. Pre-IPO feature is currently live on Paytm Money’s mobile app. The process to apply in a pre IPO is similar to that of other trading platforms. You just need to fill your investor details, lot size and accept the mandate on BHIM app. Another way to invest is through your bank. This option is generally available between 5 a.m. and 11 a.m. on the bank’s website. Here’s how to do it: <ul><li>Log in to your bank’s net banking account. </li><li>Go to the investment section and select the IPO option.</li><li>Fill your investment and bank account details to complete the verification process.</li><li>Later select the IPO you want to apply.</li><li>Enter the number of shares and bid price.</li><li>Read and accept ‘terms and conditions’ documents. </li><li>Submit your application.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">Flipkart raises $3.6 billion at a valuation of over $37 billion (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms">Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation | Business Insider India</a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a>

Zomato IPO: Here’s how to apply via banks and apps like Zerodha, Paytm Money

Food delivery startup <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> is in a soup for several reasons – the primary one being the 70% fall in its stock price since it hit an all-time high back in November last year. The other reason is the “high conviction buy” recommendation by a research firm, putting focus on an already-battered stock. Zomato has been unable to keep any of the parties it serves happy – customer complaints are unending, its restaurant partners have <a href="https://indianexpress.com/article/business/companies/ban-after-complaints-amid-pushback-by-restaurants-zomato-defers-quality-policy-7872695/">raised concerns</a> several times, its delivery executives are <a href="https://www.thehindu.com/news/national/kerala/zomato-delivery-agents-go-on-strike/article65217978.ece">unhappy</a> over incentives being cut down, the government is <a href="https://www.businessinsider.in/stock-market/news/zomato-shares-dip-after-ccis-probe-order/articleshow/90656032.cms">wondering</a> if Zomato’s business practices are anti-competitive, and lastly, shareholders have seen their investment value fall faster than the escape velocity of Jupiter. And the one equity research firm which stood behind the company was also trolled. Brutal times, these. <div type="twitter" handle="nilishamantri_" handlename="CA Nilisha Mantri" image="http://pbs.twimg.com/profile_images/1552626634905485319/U5oOtwAR_normal.jpg" favoritecount="1327" retweetcount="94" status="Zomato delivery charges are higher than the share price 🥴#Zomato" createdat="1658846745000" id="1551941852496273408"></div> <div type="twitter" handle="sir_jeeee" handlename="Anup Gupta" image="http://pbs.twimg.com/profile_images/1547959528087375872/1Lj3EKv8_normal.jpg" favoritecount="60" retweetcount="8" status="#Zomato to share holders #ZomatoShares https://t.co/TDMc6qzoxV" createdat="1658825900000" id="1551854421654511616"></div> But memes on social media don’t always tell us the full story – retail investors have actually increased their stakes in the food delivery startup over the last three quarters. <div type="image" title="Zomato shareholding pattern Q1 FY23" msid="93198743" hostid="261" sizebytes="20884" caption="&amp;lt;p&amp;gt;Zomato shareholding pattern Q1 FY23&amp;lt;/p&amp;gt;"></div> In the same period, foreign investors and mutual funds have pulled out their money – the foreign investor pullout can be attributed to the <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-more-money-this-year-than-they-brought-in-between-2009-2021/articleshow/91747269.cms">overall FII selloff</a> that emerging markets like India have seen over the past few months, but the mutual fund pullout suggests institutions are paring their stakes. Retail investors, on the other hand, have increased their stake by more than two times. Here’s what a Stocktwits India poll suggests about the stock. <div type="image" title="Are you buying Zomato at current levels" msid="93196272" hostid="261" caption="&amp;lt;p&amp;gt;Are you buying Zomato at current levels&amp;lt;/p&amp;gt;"></div> Delivery issues aside, Zomato charges and price hikes are a pain, too To be clear, the kind of business that Zomato is in, customer complaints are but a given. From wrong food items being delivered to quality, hygiene, delays – this is just a sample of what companies like Zomato and Swiggy face on a daily basis. Keeping those issues aside, Zomato has also been called out by its customers over prices – food prices on Zomato are often higher than the actual prices in those food outlets. It’s a problem which no one seems to be keen on solving – not Zomato and not the restaurants either. The reason for the sometimes-massive difference in prices is easy to understand – Zomato charges 24-28% of the order value as a commission from restaurants, who understandably pass on the cost to customers. Essentially, you are paying a much higher price for dining in than dining out. In some cases, the prices could be as much as 35% higher. And it’s not a problem restricted only to Zomato – even Swiggy users have similar complaints. Sample this – I wanted to order everyone’s favorite, fried rice, the other day. I went over to Zomato since I have a membership, but the service did not have any delivery partners to assign to that eatery. Naturally, I switched to Swiggy and tried to place the order, but backed out because the final price was 75% higher than what I would have to pay at the eatery myself. I thought to myself that I would much rather pay the additional cost to the eatery instead of having Swiggy take it away. And it’s not just a few instances of Zomato (and Swiggy) charging much higher prices – social media is full of these experiences. <div type="twitter" handle="akshita71499181" handlename="akshita" image="http://pbs.twimg.com/profile_images/1252850560299962381/paCThm0v_normal.jpg" favoritecount="56" retweetcount="7" status="What type of customer service is this @zomato ?? For a dish worth ₹88 I have to pay ₹213. This is sick 😤😤😤… https://t.co/6AASECkT9R" createdat="1658836351000" id="1551898253620232194"></div> Zomato’s boilerplate response to this is that the prices being charged by restaurants on its service are not under the company’s control. However, things like <keyword id="3947714" type="General" weightage="20" keywordseo="Delivery-Charges" source="Orion">delivery charges</keyword> and surge pricing are under the company’s control. And the reason restaurants charge higher on Zomato is because of its commissions, nothing else. This is a cash burning business – and analysts think Zomato has no other option Zomato’s ballooning losses could continue to be its Achilles' heel for the foreseeable future. This is a cash burning business, and analysts think Zomato has no other option but to continue doing this. Zomato’s ₹4,400 crore acquisition of Blinkit has drawn flak for different reasons – from it being an expensive purchase to being a cash sink, the overall outlook has been negative. However, analysts at HSBC Global Research suggest this is a necessary evil for the company if it wants to remain competitive with Swiggy. To jog your memory, Blinkit is a grocery delivery service, rivaling the likes of Big Basket, JioMart, Swiggy Instamart among others. Analysts at HSBC believe Zomato needs to now integrate Blinkit into the Zomato app if it wants to realize the synergy gains from this acquisition. Not only would this help Zomato users, it would also help the company increase user stickiness and reduce customer acquisition costs for both Zomato and Blinkit. On the outset, this logic looks sound – after all, acquisitions are made for synergy gains. But the analysts at Jefferies believe this could likely be a cash guzzler – something that Zomato investors might not like, yet. Zomato’s task is cut out, and for the sake of its investors and everyone else who loves food and wants it delivered, let’s hope the company manages to weather this storm. <div type="image" title="“Zomato’s delivery charges are more than its stock price”" msid="93196242" hostid="261" caption="&amp;lt;p&amp;gt;&amp;#8220;Zomato&amp;#8217;s delivery charges are more than its stock price&amp;#8221;&amp;lt;/p&amp;gt;"></div> Before we let you go, here's something we would like you to know- Startup to Unicorn to Scion... Innovaccer stands tall as the healthcare tech giant who is accelerating healthcare innovation and transformation. Catch Sandeep Gupta, COO &amp; Co-Founder, Innovaccer, and Dan Sheeran, GM, Healthcare and Life Science, AWS in conversation in the upcoming episode of Business Insider India’s SaaS Scions, powered by AWS. <div type="image" title="Business Insider India&amp;#39;s SaaS Scions, powered by AWS." msid="93196317" hostid="261" caption="&amp;lt;p&amp;gt;Business Insider India&amp;#39;s SaaS Scions, powered by AWS.&amp;lt;/p&amp;gt;"></div>

SIMPLY PUT: “Zomato’s delivery charges are more than its stock price”

Online food delivery platform <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> has stopped signing up new users or renewing old subscriptions for its loyalty dining membership programme called 'Pro', as the Deepinder Goyal-run company is working with customers and restaurant partners to craft a new programme. The move comes as fine-dine restaurants are now open across the country after facing a turbulent time in the pandemic, and people now prefer going out with families for dinners. The online food aggregator launched <keyword id="9490437" type="General" weightage="80" keywordseo="zomato-pro" source="Orion">Zomato Pro</keyword> in 2020 and Zomato Pro Plus in 2021, in a bid to let users enjoy extra perks like priority delivery, money-back guarantee and more. The food tech unicorn had renamed its <keyword id="18712" type="General" weightage="50" keywordseo="gold" source="Orion">Gold</keyword> subscription programme as Zomato Pro. The company has already shut its premium aPro Plus' programme. In a statement to IANS, a Zomato spokesperson said that while Zomato Pro and Pro Plus have been loved tremendously by its customers and merchants, "we want it to be even more beneficial, especially for the most engaged customers and merchant partners". "We are taking feedback and working closely with our customers and restaurant partners to craft a new programme. Meanwhile, we are not onboarding new members and merchant partners to Zomato Pro and Zomato Pro Plus," the company spokesperson added. While active members can continue to get their benefits as promised, they will not be able to extend/renew their memberships once their membership tenure expires. Zomato said it promises "to come up with a bigger, better experience very soon". Zomato's competitor <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword> also has its own loyalty programme called Swiggy One that allows its members unlimited free deliveries from select restaurants and unlimited free delivery from <keyword id="14779240" type="General" weightage="50" keywordseo="quick-commerce-service" source="Orion">quick commerce service</keyword> <keyword id="9728281" type="General" weightage="50" keywordseo="instamart" source="Orion">Instamart</keyword> on orders more than Rs 99. Zomato reported Rs 185.7 crore in consolidated loss for the quarter ending June 30, compared to a loss of Rs 359.7 crore in the previous quarter. The consolidated revenue saw 67 per cent increase at Rs 1,413.9 crore from Rs 844.4 crore (same quarter last year), and 16.68 per cent up from Rs 1,211.8 crore in the last reported quarter. "Our focus on profitability has sharpened over the past few months with the change in market context, without compromising our focus on growth," said <keyword id="3378387" type="General" weightage="50" keywordseo="zomato-founder" source="Orion">Zomato Founder</keyword> and CEO <keyword id="476451" type="General" weightage="50" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword>. He said that the company is focused on spending wisely and continually reinforcing a lean cost culture -- "particularly in a business like ours which is currently loss making". SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lazarus-hackers-targeting-apple-mac-users-with-fake-job-posts/articleshow/93703334.cms">Lazarus hackers targeting Apple Mac users with fake job posts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indians-spend-half-an-hour-every-day-on-memes-and-thats-gone-up-80-in-the-last-year/articleshow/93702734.cms">Indians spend half an hour every day on memes and that's gone up 80% in the last year</a>

Zomato stops new users, renewals for its loyalty dining programme Pro

<ul><li>On Monday, Gunjan Patidar, Zomato’s co-founder and chief technology officer tendered his resignation.</li><li><keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword>’s CEO Suhail Sameer has quit the top job to become its strategic advisor.</li><li>There has been a lot of churn in new-age companies like Nykaa, and also big techs like Meta India, WhatsApp Pay, Amazon India and more.</li></ul>New age companies in India have been hit by a flurry of exits by top executives, leaving them scurrying for replacements. This comes at a time when startups have been battling funding winter and elevated inflation, in a rising interest rate regime. BharatPe, a fintech is amongst those with multiple high profile exits, including its co-founder and former managing director Ashneer Grover, along with his wife Madhuri Jain Grover – who not only had to leave the company, but were also sued by BharatPe in December 2022 for ₹88.6 crore. The company alleged that both husband and wife engaged in misappropriation of funds including creating fake bills, enlisting fictitious vendors and so on. Adding to BharatPe’s woes is the <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">departure</a> of its CEO Suhail Sameer on January 3. Sameer took over as the company’s CEO in August 2021, a year after being appointed as the company’s president. He will now serve as a strategic advisor starting January 7, 2023. Before Sameer, BharatPe witnessed the departure of four other high level executives last November. This includes Nehul Malhotra, head of PostPe which is BharatPe’s ‘Buy Now Pay Later’ arm. The others were the CTO Vijay Aggarwal; Rajat Jain, the chief product officer; and Geetanshu Singla, VP of technology. They moved on to pursue their own entrepreneurial passions, the company had then said in a statement. Zomato rocked by multiple top level exits, too Sameer’s resignation comes hours after Gunjan Patidar, Zomato’s co-founder and chief technology officer, tendered his resignation. Patidar was one of the first few employees of Zomato who built the core tech systems of the company. “Over the last ten plus years, he (Patidar) also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable,” said the company. Patidar’s exit is the third high-level exit at the food delivery giant in two months. In November last year, another one of Zomato’s co-founders Mohit Gupta tendered his resignation. Its head of new initiatives Rahul Ganjoo; and Siddharth Jhawar, vice-president of global growth also quit in the same month. The list goes on as in September 2022, Zomato’s deputy CFO Nitin Savara also tendered his resignation. The company has been bleeding money and it reported a consolidated loss of ₹251 crore in Q2 FY23. New age companies’ top heads move in and out of big tech companies There is a lot of churn among top executives of new-age tech companies as well as big techs. Online beauty retailer Nykaa’s CFO Arvind Agarwal, who had been with the company through its IPO, quit and joined fintech major PayU as its India CFO, this November. On the other hand, new-age companies have also been able to attract executives from major companies into their fold as well. Case in point is Sugar Cosmetics who brought in Amit Aggarwal, Marico’s head of finance of its India business, as its CFO. Adding to it, Amazon India’s director of grocery, food and health Sameer Khetarpal resigned and moved to Jubilant FoodWorks as CEO, a franchisee that runs Domino’s Pizza, Dunkin Donuts outlets in India. Meta India country head Ajit Mohan tendered his resignation in November 2022, to join rival Snap as the President of Asia Pacific. Following this, WhatsApp India’s head Abhijit Bose and Meta India’s public policy head Rajiv Aggarwal also resigned. The latter joined Samsung India. WhatsApp Pay’s director and head Manesh Mahatme also left his position in September to join Amazon India as director, product and engineering. Last but not the least, another shocking exit was of Parag Agarwal, former CEO of Twitter who was fired by Elon Musk in October, a year after he was appointed for the position. Soon after his ouster, Agrawal changed his LinkedIn bio to “Not the CEO you are looking for”. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/radiant-cash-management-shares-debut-at-a-10-premium-after-company-reduces-ipo-size/articleshow/96727374.cms">Radiant Cash Management shares debut at a 10% premium after company reduces IPO size</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/shark-tank-indias-season-2s-sharks-meet-the-serial-investors-cas-and-iit-and-iim-alumni/articleshow/96714262.cms">Shark Tank India’s Season 2’s sharks: Meet the serial investors, CAs, and IIT and IIM alumni</a>

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s founder and CEO <keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> was given ESOPs worth ₹387 crore in the second half of FY2022.</li><li>However, he did not create any wealth out of it as he donated ESOPs worth ₹700 crore in May.</li><li>Goyal had also forgone his salary for three years and did not earn anything in FY2022.</li></ul>Zomato’s founder and CEO Deepinder Goyal received shares worth ₹387 crore under the employee stock option plan (ESOP) in the second half of fiscal year 2022. However, he does not personally gain from it. Goyal <a href="https://www.businessinsider.in/business/corporates/news/zomatos-deepinder-goyal-donates-stock-option-worth-700-crore-to-zomato-future-foundation/articleshow/91371003.cms#:~:text=Zomato%20founder%20and%20chief%20executive,delivery%20partners%2C%20among%20other%20things">donated all his ESOP proceeds worth ₹700 crore</a> to Zomato Future Foundation last month, which will be used towards offering free education to the children of delivery partners and other initiatives. This included the ESOPs allocated to him in the second half of 2022. <cmsannotation type="cmsannotation" annotationid="Not taking any salary till FY2024" comment="subhead" text="Not taking any salary till FY2024">Not taking any salary till FY2024</cmsannotation> Additionally, he also waived off his salary for the entire year that ended in March. He had also taken a pay cut owing to the COVID-19 pandemic. Goyal earned a basic salary of <a href="https://www.businessinsider.in/business/startups/news/checkout-zomato-top-executives-salaries-including-co-founder-and-ceo-deepinder-goyal/slidelist/82289352.cms#slideid=82289373">₹1.96 crore in FY2021</a>, compared to ₹3.5 crore earned in the previous year. As Zomato was preparing for its public debut last year, Goyal announced that he will not be taking any money home for the next three years, as salary. “Deepinder Goyal has voluntarily waived his remuneration for a period of 36 months starting from April 1, 2021 and shall continue to discharge his roles and duties as Managing Director and Chief Executive Officer during this period,” the company had said in its IPO papers. <cmsannotation type="cmsannotation" annotationid="How much did others earn?" comment="subhead" text="How much did others earn?">How much did others earn?</cmsannotation> Zomato — in its regulatory filings on Bombay Stock Exchange (BSE) — revealed that it has incurred an expense of ₹778 crore in salaries and other benefits like ESOPs between October 2021 and March 2022. Here is how much Zomato’s top management earned in the latter half of FY2022: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Designation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salary </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ESOP </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepinder Goyal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Founder and CEO of Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹386 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Akshant Goyal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CFO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹50 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sandhya Sethia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company Secretary </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kaushik Dutta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Namita Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aparna Popat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gunjan Tilak </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sutapa Banerjee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr></tbody><tbody></tbody></table>Source: Zomato’s filing on related party transactions Notably, CFO Akshant Goyal had also forgone his salary for the months of January, February and March. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/news/home-loan-rates-enter-red-zone-will-dent-affordable-and-mid-segment-sales-the-most/articleshow/92079341.cms" style=""></a><a href="https://www.businessinsider.in/business/startups/news/physicswallah-is-indias-first-profitable-edtech-startup-up-here/articleshow/92056796.cms" style="">YouTube channel to a billion dollar company — India’s first profitable edtech unicorn is here</a> <a href="https://www.businessinsider.in/business/ecommerce/news/after-amazon-flipkart-reliance-and-tata-neu-indias-133-billion-ecommerce-market-may-be-too-little-for-a-fifth-player/articleshow/92062540.cms">After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player</a> <a href="https://www.businessinsider.in/business/ecommerce/news/india-will-have-more-ecommerce-users-by-2025-than-us-population/articleshow/92062424.cms">India will have more ecommerce users by 2025 than US’ population</a>

Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021

Online learning platform <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword> is now valued at $3.44 billion after the latest round of fundraising, where it got investments to the tune of $440 million. Over the last 18 months, the valuation of the <keyword id="9578177" type="UNKNOWN" weightage="20" keywordseo="unacademy-group">Unacademy Group</keyword> has risen almost 10 times, the company reportedly said in a statement. This was the Series H round of funding for Unacademy where Aroa Ventures, the family office of hotel chain <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s Founder Ritesh Agarwal, and Deepinder Goyal, Co-Founder and CEO at Zomato, participated. Some angel investors of Unacademy have exited in this round. Aside from these, existing investors like General Atlantic, Tiger Global and <keyword id="3749718" type="PERSON" weightage="20" keywordseo="softbank-vision-fund">Softbank Vision Fund</keyword> put in more money.This is the second investment by Tiger Global, and General Atlantic who increased their stake in Unacademy in January this year. The different shades of India’s booming edtech The six-year old startup founded by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy has a growing network of more than 50,000 registered educators and over 62 million learners, in 14 Indian languages across 5,000 cities. Unacademy is known for its offerings that help students prepare for competitive exams and it has been one of the biggest beneficiaries of the shift to online learning. Unacademy differentiates itself from Byju’s, which relies on pre-recorded content, and Vedantu that is known for its live-tutoring. India’s edtech industry, which had an annual revenue pool of $700 million at the end of March 2020, saw its business double in the following year due to the pandemic, according to data from Goldman Sachs. The global investment bank expects the entire edtech space to be worth $30 billion dollars by March 2024 as Indians spend the most on education, as a proportion of household consumption, after China. Unacademy has been acquiring other startups amidst an edtech boom Late last month, Unacademy announced that it has acquired game streaming platform <keyword id="11725251" type="UNKNOWN" weightage="20" keywordseo="Rheo-TV">Rheo TV</keyword>. Rheo TV is a platform that helps professional game streamers livestream their gameplays and monetise those feeds. In February, Unacademy acquired TapChief, a professional networking and "future-of-work" platform, at a valuation of ₹100 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/news/byjus-last-two-acquisitions-and-a-deal-with-disney-reveal-its-american-dream/articleshow/84783749.cms">Byju's last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India</a> <a href="https://www.businessinsider.in/personal-finance/news/six-red-flags-for-investors-to-avoid-becoming-a-victim-of-misselling-by-agents-or-financial-advisors/slidelist/84782913.cms">Six red flags for investors to avoid becoming a victim of misselling by agents or financial advisors</a>

You Searched For "zomato money" and got 12 results

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SIMPLY PUT: “Zomato’s delivery charges are more than its stock price”

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Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021

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