Believed in strategizing
Deepinder and Pankaj took every single step strategically. When their idea to provide a common platform for people to find restaurants took off instantly, they went about streamlining the process, assigning specific tasks to the employees and creating a model that ensured revenue sharing system.
Strongly felt expanding is the key to growth
Soon after they entered the food tech industry, they felt expanding their business was necessary to stay on top of the industry. They ensured that every move they made was aimed at expansion. They launched Zomato Gold and Zomato PickUp along with the restaurant finding app and also expanded into other areas of business as well.
Moved into areas that their competitors did not
One strong reason why Zomato could succeed was the founders moved into areas where their competitors did not. They also focused on high quality products. They always studied the competition around them thoroughly and took steps to stay one step ahead of others.
Committed towards their employees
Observers say the dauntless trust that the founders of Zomato had in their employees was a crucial reason for their success. Motivated by their inspiring example, Zomato has employees who work for more than 12 hours in a day without any complaints. The founders gave the employees an awesome chance to grow like they could find nowhere else.
Broke-even and drove their firm to profitability very soon
Zomato was the first Indian e-commerce venture to break even very soon after its founding and turn towards profitability.
Earned much through advertisements
Their restaurant search website experienced a phenomenal growth and overtook the performance of other similar concepts in other industry segments rather very quickly. Talking about their business model, Goyal said, “Our unwavering focus is on making money. The bulk of our revenues comes from advertising and we aim at multiplying our revenue while keeping costs stable.”
Spent the lowest amount on customer acquisition
Many startups spend a big amount on customer acquisition. Founders of Zomato say they spend as little as $0.7 on acquiring a customer in an average and it starts breaking even once the customer orders for the first item to be delivered.
Achieve massive growth in terms of big numbers
The growth that the founders of Zomato achieved is phenomenal. Their website has more than 90 million monthly visitors. The number of Zomato Gold customers is over 800,000. The company made more than $206 million as revenue in the financial year 2019. 12,000 restaurants have been partnered with Zomato while Zomato Gold has over 6,500 partners. In an average, the Zomato portal books above 3 million orders on the 1.4 million restaurants listed on the website. Zomato services cover 23 countries and more than 10,000 cities.