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If you are living in a metropolitan area in India, chances are you regularly order food from <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>. The company launched in India in 2008 and was earlier just a food delivery service. Overtime, it evolved into a food discovery platform as people can rate restaurants, reserve tables, leave reviews and more. Now, we all know that when we order food via Zomato we end up paying slightly more. There are various charges that the company levies on users including handling charges and delivery fee. In August last year, Zomato started charging a <keyword id="20299300" type="General" weightage="20" keywordseo="platform-fee" source="keywords">platform fee</keyword> from users. And this has proved to be a successful business move for the platform as during its annual report, the company revealed that it has collected Rs 83 crore till March from levying platform fee. So what exactly is this platform fee that has raked in moolah from the company? Moreover, how does it benefit Zomato and what effect does it have on the end consumer? Read on to find out. <h2>What is Zomato’s platform fee?</h2>Zomato's 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 one 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. <div type="image" title="Zomato levies platform fee" msid="112313825" hostid="261" sizebytes="48995" caption="&amp;lt;p&amp;gt;Zomato levies platform fee&amp;lt;/p&amp;gt;"></div> <h2>How it impacts Zomato</h2>The Platform fee might seem like a minor addition to your bill, but when multiplied by millions of orders, it becomes a significant source of revenue for Zomato. Since every order placed incurs this charge, it increases the company’s "take rates" — the profit made per order. This fee serves as a crucial, controllable revenue stream in the supply chain, providing a steady income source that companies can directly manage. Alongside advertising fees and restaurant commissions, the platform fee has become a significant revenue generator for Zomato. In other words, levying a platform fee is basically a clever way for Zomato to boost its revenue without significantly increasing the prices of individual menu items. During its annual report, Zomato identified the platform fee as one of the three main factors driving Zomato's Adjusted Revenue, which saw a 27 percent year-on-year growth, reaching Rs 7,792 crore in FY24. "Adjusted Revenue as a percentage of GOV (gross order value) continued to rise, primarily due to higher restaurant commission take-rates, improved ad monetization, and the introduction of the platform fee from Q2FY24 onwards," the report highlighted. The report also added that all of the above mentioned factors compensated for the reduction in customer delivery charges per order due to the free delivery benefit available on Gold orders. <h2>How are you affected by Zomato’s platform fee?</h2>Zomato’s report also revealed that most late-night orders in the last fiscal year came from Delhi NCR, while Bengaluru led in the number of breakfast orders. Now the question that arises is, how exactly is the end consumer being affected by the platform fee? One of the obvious answers is that it makes your order a bit more expensive. Especially if you order from the food delivery giant on a daily basis. You might not even notice the addition of Rs 6 in your final bill but if you order food from Zomato everyday and start calculating, it will come up to be a noticeable amount. Say you have ordered food from Zomato everyday since the last three months. In this case, you would have ended up paying around Rs 540 as platform fee. Moreover, platform fee tends to be higher during peak hours or weather conditions. Thus, the order ends up being even costlier. Just last month, CEO of Bengaluru-based company <keyword id="22689022" type="General" weightage="20" keywordseo="capitalmind-deepak-shenoy" source="keywords">Capitalmind Deepak Shenoy</keyword>, was making headlines for saying that he has reduced ordering food from <keyword id="19896956" type="General" weightage="20" keywordseo="swiggy" source="keywords">Swiggy</keyword> and Zomato because of higher platform fees. “Massively reduced ordering from Swiggy/Zomato, down to just once maybe on a weekend, like today and noticed their 'platform' charge is now ₹6. Happy that I weaned myself off the daily ordering. They also take 30 percent from restaurants, btw,” he wrote in a post on X (earlier called Twitter).

Zomato earned Rs 83 crore from platform fee: What it is, how it benefits the company and how it affects you

<ul><li><keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> has relaunched its Gold loyalty program, offering discounts and special access to subscribers.</li><li>Gold subscribers will get free deliveries and up to 30% discount on food deliveries.</li><li>The company has also announced up to 40% discount for dining.</li></ul>Popular food delivery app Zomato has relaunched its Gold loyalty program, replacing the company’s “Pro Plus” membership that was discontinued in 2021. The <keyword id="7913404" type="General" weightage="20" keywordseo="zomato-gold-membership" source="Orion">Zomato Gold membership</keyword> is expected to be available to members soon. Users who subscribed to the company’s Pro Plus membership will get three months of complimentary Gold membership. <cmsannotation type="cmsannotation" annotationid="Zomato Gold price" comment="subhead" text="Zomato Gold price"><keyword id="16229038" type="General" weightage="20" keywordseo="zomato-gold-price" source="Orion">Zomato Gold price</keyword></cmsannotation> <keyword id="4299597" type="General" weightage="80" keywordseo="zomato-gold" source="Orion">Zomato Gold</keyword> has been launched with an introductory price of ₹149 for three months. The company has not revealed the price for an annual subscription yet. <cmsannotation type="cmsannotation" annotationid="Zomato Gold benefits" comment="subhead" text="Zomato Gold benefits"><keyword id="16229042" type="General" weightage="20" keywordseo="zomato-gold-benefits" source="Orion">Zomato Gold benefits</keyword></cmsannotation> Zomato has announced several benefits for food deliveries and dining. <cmsannotation type="cmsannotation" annotationid="Zomato Gold benefits for food deliveries" comment="subhead2" text="Zomato Gold benefits for food deliveries">Zomato Gold benefits for food deliveries</cmsannotation> The biggest benefit that Zomato will offer with Gold is free food deliveries. This will be limited to restaurants within 10 km of you and applicable on orders above ₹199. This is handy for someone who regularly places orders on Zomato. <a href="https://www.businessinsider.in/tech/apps/news/swiggy-one-membership-price-benefits-and-everything-you-need-to-know/articleshow/87848507.cms">Swiggy One</a> offers a similar benefit, offering free deliveries within 10 km of the user on orders above ₹149. In addition to free deliveries, users will also get discounts of up to 30% at over 20,000 restaurants across the country. Zomato will also offer a “no delay guarantee” to Gold subscribers and delayed deliveries will result in the user getting a ₹100 coupon instantly. The final benefit offered under Gold for food deliveries is VIP access during rush hour. Under this, Gold subscribers will still have access to restaurants during high demand, meaning they will get priority over normal users. <cmsannotation type="cmsannotation" annotationid="Zomato Gold benefit for dining" comment="subhead2" text="Zomato Gold benefit for dining">Zomato Gold benefit for dining</cmsannotation> Zomato Gold also brings offers for dining. This time, the company has partnered with over 10,000 restaurants across the country, allowing Gold users to get discounts of up to 40% while dining out. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/the-oneplus-11-may-undercut-the-iqoo-11-to-be-the-cheapest-snapdragon-8-gen-2-smartphone-in-india/articleshow/97269913.cms">The OnePlus 11 may undercut the iQOO 11 to be the cheapest Snapdragon 8 Gen 2 smartphone in India</a> <a href="https://www.businessinsider.in/tech/news/logitech-mx-mechanical-keyboard-review-a-premium-mechanical-keyboard-for-professionals/articleshow/97255605.cms">Logitech MX Mechanical Keyboard review – a premium mechanical keyboard for professionals</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s23-series-to-launch-soon-launch-date-expected-price-and-features/articleshow/97243146.cms">Samsung Galaxy S23 series to launch soon – launch date, expected price and features</a>

Zomato Gold re-launched with free deliveries, VIP access, up to 40% discount on dining, and more

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>Fintech companies like Paytm and PB Fintech have not only reported better than expected earnings but also narrowed their losses significantly.</li><li>While Zomato and Nykaa did not deliver overall improvement in financials, analysts still have high hopes for them.</li><li>Shares of Paytm rose nearly 22% from February 3 when it reported its quarterly earnings.</li><li>Analysts say the long-term growth potential of these companies is huge in spite of the short-term challenges.</li></ul>There’s no end to the woes of new age technology companies. They are in the spotlight yet again, after their mixed performance during the December quarter. Fintech companies like Paytm and PB Fintech have not only reported better than expected earnings but also narrowed their losses significantly. Zomato and Nykaa did not deliver overall improvement in financials, but analysts remain optimistic. Another new age company among talks is hyperlocal delivery startup Dunzo with elevated losses and massive valuation. Billionaire and chairperson of RPG Group highlighted the financials of the company <a href="https://twitter.com/hvgoenka/status/1625843597626183680">in a tweet </a>on February 15. “New age digital stocks are not doing great primarily because the market is not doing great. India is underperforming this year with a negative 2.34 % return YTD while markets like China, HongKong and South Korea are doing very well. When India’s underperformance changes, new age digital companies also will start performing. Some results from this segment are very good like Paytm. Zomato also has done reasonably well, but Nykaa’s results came below expectations,” said Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. New age technology companies have been under the scanner because of the massive underperformance in their share prices due to elevated valuation. However, analysts believe that the long term bet on these companies is worth it despite several roadblocks. “The long-term growth potential of these companies is huge and, therefore, in spite of the short-term challenges, these stocks have buyers particularly after the sharp correction from their listing peak prices,” added Vijayakumar. <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;">New age companies </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;">Q3 FY23 Profit/Loss </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;">Q3 FY22 Profit/Loss </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;">Paytm </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;">-₹392 crore </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;">-₹779 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;">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;">-₹347 crore </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;">-₹63 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;">PB Fintech (Policybazaar) </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;">-₹87 crore </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;">-₹298 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;">Nykaa </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;">₹8.2 crore </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;">₹27.9 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Paytm’s first ever quarterly operating profit impresses, builds hope The fintech company’s December quarter performance was a big surprise for many as it posted its first ever quarterly operating profit as it narrowed down losses. The growth was driven by pick up in merchant subscription revenues and loan distribution. “Biggest surprise is distribution business, control of cashbacks, opex,” said Macquarie in a report. Shares of the company rose nearly 22% from February 3 when it reported its quarterly earnings. Macquarie has upgraded rating on the company’s stock to ‘Outperform’ from ‘Underperform’ with a target price of ₹800. “PayTM has positively surprised on the distribution of financial services revenue by a wide margin and has also managed to control overall expenses and charges. At the time of listing, profit and free cash flow were not even a part of management’s discussion. However, we see a very visible change in approach of management to deliver profit, evidenced, we believe, by the core EBIDTA profitability that was reported recently,” said Macquarie in a report. Zomato: A promising road to profitability Zomato reported better than expected Q3 FY23 revenues, and analysts believe it may reach profitability by the end of the current financial year. “Depending on execution-related wins, the company (ex of quick commerce) may clock profitability in Q4FY23 itself, two quarters ahead of their guidance,” said analysts at Nuvama Institutional Equities. “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,” added the report. Analysts say Zomato’s relaunch of its Gold membership plan should bring growth back. Most brokerage houses have <a href="https://www.businessinsider.in/business/news/no-long-tail-effect-zomato-banks-on-demand-recovery-in-future-even-as-it-shuts-operations-in-225-cities-on-poor-performance/articleshow/97907071.cms">maintained a ‘Buy’ rating </a>on the company’s stock. “The fact that most of these companies have put forth their strategy to cut down losses and become profitable in the near future builds hope for investors. For example, Zomato’s decision to cut operations in 225 smaller cities. Moreover, since most of these <keyword id="10951575" type="General" weightage="20" keywordseo="new-age-tech-companies" source="Orion">new age tech companies</keyword> are direct consumer based there are expectations of inflation cooling down and boosting consumer spend.” Shrikant Chouhan, head of equity research (retail) at Kotak Securities told Business Insider India. Nykaa: Premium valuation reflects solid outlook, say analysts Nykaa, reported a 70% on year decline in net profit in Q3 <a href="https://www.businessinsider.in/business/corporates/news/nykaas-stock-plunges-4-2-after-its-q3-net-profit-slips-70/articleshow/97901748.cms">missing analysts expectations</a>. Despite this, brokerages believe the best is yet to come for the company. During a post-earnings conference call Falguni Nayar, executive chairperson, MD and CEO of Nykaa said that although inflationary pressures were present, it wasn’t that big of an issue for many of Nykaa’s customers. Q3 is considered to be a seasonal quarter for the company because of the festive season and despite macro challenges Nykaa’s growth was applauded by analysts. “In a quarter rampaged by a tougher macroeconomic environment, Nykaa reported substantial growth in Q3FY23 numbers,” said a report by JM Financial. The brokerage firm has assigned a ‘Buy’ rating on the stock. “We continue to see increased strength of the dominant positioning in beauty and personal care (BPC) vertical while the newcomer, fashion vertical, has gained market share at the cost of a sharp dip in contribution margin,” added the report. Nykaa’s EBITDA margins came under pressure and fell to 5.3% in Q3, as against 6.3% in the same period last year. “While we expect Nykaa’s GMV growth, at 35% in FY23E-25E, to be the highest within our global ecommerce coverage, we believe Nykaa’s valuation premium (FY24 EV/GMV of 3.1x vs 0.5x median for peers) already reflects this solid growth outlook and Nykaa’s stronger margin profile,” said a report by Goldman Sachs. The investment banker has assigned a ‘Neutral’ rating on the stock. PB Fintech on course to profitability soon The December quarter performance of PB Fintech, the parent company of Policybazaar and Paisabazaar, was another surprise for investors as the company narrowed its losses significantly. Its insurance premiums jumped 70.3% on year to ₹30.3 billion driven by a strong showing across segments. “Given its market share of 90%-plus in online insurance sales and a growing offline presence, PB is poised to post strong sales,” said analysts at Nuvama Institutional Equities. Further, the management expects revenue and margins to improve further as agent productivity rises and benefits of appointments channel are realised. They hinted at a sharp profitability uptick in Q4, say analysts. “This growth becomes even more impressive considering the seasonally weak Q3 for insurance, where new business premiums for life and general insurance declined QoQ by 19% and 12%, respectively,” said a report by JM Financial. New-age internet based businesses, like their unlisted peers, have been chalking out strategies that lead them towards profitability and are already on a growth path aided by their unique business propositions — allaying investor and analyst concerns. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/google-india-layoffs-nearly-500-people-fired/articleshow/98001522.cms">Google layoffs reach Indian shores, nearly 500 employees sacked late Thursday</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/neal-mohan-indian-american-guy-journey-to-becoming-youtube-ceo/slidelist/98001073.cms">From Lucknow to USA: Indian-American Neal Mohan’s journey to becoming YouTube CEO</a>

New age technology companies back in the spotlight after Q3 performance

<ul><li><keyword id="476451" type="PERSON" weightage="20" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword> shared screenshots to show that NRAI chief <keyword id="62211" type="PERSON" weightage="20" keywordseo="Rahul-Singh">Rahul Singh</keyword> has started his own Gold programme for his chain of restaurants – <keyword id="1440596" type="PERSON" weightage="20" keywordseo="beer-cafe">Beer Cafe</keyword>. </li><li>With this, Goyal said they are ‘logging out of the <keyword id="7998183" type="UNKNOWN" weightage="20" keywordseo="logout-movement">logout movement</keyword>’ and stick to the changes they offered in Gold. </li><li>The logout movement was led by the NRAI against the deep discounts offered by <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword></li></ul>In a dramatic twist, Zomato’s founder Deepinder Goyal has gone on record to say that the logout movement seems to be motivated by a vested interest of Rahul Singh, who runs the Beer Cafe chain and heads the National Restaurants Association of India (NRAI). However, Goyal’s attack on Singh was rather sarcastic. <div type="twitter" handle="deepigoyal" handlename="Deepinder Goyal" image="http://pbs.twimg.com/profile_images/980757579360972800/TWg-KSki_normal.jpg" favoritecount="310" retweetcount="319" status="I welcome the NRAI president, Rahul Singh embracing the Gold standard at his own restaurants. Welcome to Gold, Rahu… https://t.co/hTsTniiR1n" createdat="1566470631000" id="1164488344320933889"></div>

 Calls and texts sent to Rahul Singh from Business Insider remain unanswered. The NRAI and Zomato have been engaged in a bitter dispute over the foodtech giant’s discount programme that goes by the name ‘<keyword id="4299597" type="PERSON" weightage="20" keywordseo="Zomato-Gold">Zomato Gold</keyword>’. The battle has led as many as 2,000 restaurants across India to logout of the platform including those from Tier 2 cities, according to Rahul Leekha, owner of Coffee by Di Bella and a member of the NRAI. The latest salvo from Goyal seems like an attempt to split the community of restaurant owners. He shared screenshots of the gold programme launched by Beer Cafe in August itself and implied that the movement against Zomato benefited a few large chains at the expense of smaller ones. “This is not about aggregators vs restaurants; this is about the small restaurant owner vs the large restaurant owner - and we are being painted as bullies. This logout campaign as it seems now, is driven by Rahul Singh, along with the participation of a few large restaurant owners, to use the NRAI platform to sabotage aggregators and benefit themselves,” Goyal wrote in his post. The logout movement was started by the NRAI chief Singh and multiple other restaurants against the deep discounting offered by food aggregators. Zomato had then offered to change its Gold programme to restrict the usage frequency, allowing consumers to use it just once in a day, which it is planning to stick to.

Zomato founder Deepinder Goyal smells a conspiracy - says restaurants association chief Beer Cafe’s Rahul Singh has a vested interest in dissing ‘Gold’

New Delhi, Mar 2 () RBL Bank and Zomato on Monday launched a co-branded credit card, powered by Mastercard, in a bid to tap the potential of online food delivery market which has been expanding beyond big cities. The co-branded card, which comes in two variants -- Edition and Edition Classic, will offer benefits such as Zomato Gold membership, cash back as well as airport lounge access. Customers will get Zomato credits on every use, both online and offline. With this launch, RBL Bank hopes to further scale its operations in the rapidly growing credit card business, while Zomato and Mastercard will reach untapped customer segment, the companies' officials said here at the launch. RBL Bank has over 25 lakh credit card holders currently. The partnership, an addition to the lender's co-branded credit cards business, will be beneficial as online food delivery has witnessed a growing trend, Utkarsh Saxena, Head Products-Credit Cards, RBL Bank said. He said it will be a huge opportunity for the bank to offer an innovative experience for its customers. Pradyot Ghate, Vice President - Product, Payments and Partnerships, Zomato said, "The Edition Cards have been specially made for those who are always exploring food across the globe...a unique co-branded credit card which rewards card holders with every transaction - be it on the Zomato app or at a restaurant." Mastercard's Senior Vice President, Market Development, Rajeev Kumar said the company is increasingly tapping the co-branded space, and more millennials are adopting credit cards in tier-II and III cities. "With evolving lifestyles and preferences, an increasingly large number of Indian consumers are ordering food online. A co-brand card proposition has the potential to provide a significant value to consumers," he said. KPM RVK

RBL, Zomato launch co-branded credit card offering cash back, loyalty membership benefits

Microsoft-owned open-source developer platform <keyword id="1505863" type="General" weightage="100" keywordseo="github" source="Orion">GitHub</keyword> has announced the launch of Copilot X, the company's vision for the future of AI-powered software development. GitHub has adopted <keyword id="3169059" type="General" weightage="50" keywordseo="openai" source="Orion">OpenAI</keyword>'s new GPT-4 model, and introduced chat and voice for Copilot, bringing Copilot to pull requests, the command line, and docs to answer questions on developers' projects. "From reading docs to writing code to submitting pull requests and beyond, we're working to personalise <keyword id="13523259" type="General" weightage="50" keywordseo="github-copilot" source="Orion">GitHub Copilot</keyword> for every team, project, and repository it's used in, creating a radically improved software development lifecycle," <keyword id="12473215" type="General" weightage="50" keywordseo="thomas-dohmke" source="Orion">Thomas Dohmke</keyword>, CEO at GitHub, said in a statement. "At the same time, we will continue to innovate and update the heart of GitHub Copilot -- the AI pair programmer that started it all," he added. The company is bringing a chat interface -- "Copilot chat" to the editor, which will be focused on developer scenarios and natively integrate with VS Code and Visual Studio. Copilot chat will recognise what code a developer has typed, and what error messages are shown, and it's deeply embedded into the IDE (Integrated Development Environment). Copilot chat will also join GitHub's voice-to-code AI technology extension the company previously demoed, which it's now calling "Copilot voice", where developers can verbally give natural language prompts, according to the company. Moreover, developers can now sign up for a technical preview of the first AI-generated descriptions for pull requests on GitHub. This new feature comes powered by OpenAI's new GPT-4 model and adds support for AI-powered tags in pull request descriptions via a GitHub app that can be installed by organisation admins and individual repository owners. GitHub is also launching Copilot for docs, an experimental tool that uses a chat interface to provide users with AI-generated responses to questions about documentation -- including questions developers have about the languages, frameworks, and technologies they are using, the company said. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/first-82-days-of-2023-see-more-layoffs-than-the-entire-2022/slidelist/98960848.cms">First 82 days of 2023 see more layoffs than the entire 2022</a> <a href="https://www.businessinsider.in/business/news/debt-schemes-of-mfs-lose-edge-over-bank-deposits-as-budget-proposes-to-scrap-ltcg-indexation-benefits/articleshow/98965932.cms">Debt schemes of MFs lose edge over bank deposits as Budget proposes to scrap LTCG &amp; indexation benefits</a> <a href="https://www.businessinsider.in/business/corporates/news/shinier-zomato-gold-better-commissions-makes-analysts-bullish-in-the-long-term/articleshow/98938279.cms">Shinier Zomato Gold, better commissions makes analysts bullish in the long term</a>

GitHub launches AI-powered Copilot X, adopts OpenAI's GPT-4 model

Telecom operator Bharti <keyword id="15491" type="General" weightage="100" keywordseo="airtel" source="Orion">Airtel</keyword> overtook <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> in <keyword id="764355" type="General" weightage="20" keywordseo="5G" source="Orion">5G</keyword> roll-out with the expansion of the network to additional 235 cities, taking its total reach to 500 cities. Reliance Jio has so far announced the expansion of its ultra high-speed fifth generation (5G) network to 406 cities. "Bharti Airtel...ultra-fast 5G service is available to customers in 500 cities in the country. Airtel added 235 cities to its network, making it one of the largest roll-outs to date," the company said in a statement. Airtel said that it is adding 30-40 cities on its 5G network daily. "Airtel was the first to offer 5G services in October 2022, and today's mega launch is our promise to connect every Airtel customer in the country with ultra-fast <keyword id="4237866" type="General" weightage="20" keywordseo="Airtel-5G" source="Orion">Airtel 5G</keyword> Plus. We have already covered 500 cities and are adding 30 to 40 cities every single day. By September of 2023, we expect to expand our 5G footprint to all of urban India," Bharti Airtel CTO Randeep Sekhon said. According to industry players, India has become the fastest country in the world to roll-out 5G networks. Against the target of rolling out 5G in 200 cities before March 31 set by the government, the service is now available in over 900 cities. Airtel said that its 5G Plus runs on a technology that has the widest acceptance in the world with the most developed ecosystem which ensures that all 5G smartphones in India seamlessly work on the Airtel network. "Second, the company promises to deliver the best experience - between 20 to 30 times higher speeds than today (compared to 4G) coupled with a brilliant voice experience and super-fast call connect," the statement said. Airtel has also removed the 5G data usage limit cap to match with Jio's offer. Earlier 5G data usage was limited to the same as the daily quota which customers had in their 4G subscription plan. "Customers will now be able to experience ultra-fast, reliable and secure 5G Plus services without having to worry about data exhaustion as the company removes the capping on data usage across all existing plans," the statement said. The company has also deployed the first 5G private network at Bosch facility in Bengaluru, and also at Mahindra &amp; Mahindra's Chakan manufacturing facility to make it the first 5G-enabled auto manufacturing unit. SEE ALSO: <a href="https://www.businessinsider.in/business/news/debt-schemes-of-mfs-lose-edge-over-bank-deposits-as-budget-proposes-to-scrap-ltcg-indexation-benefits/articleshow/98965932.cms">Debt schemes of MFs lose edge over bank deposits as Budget proposes to scrap LTCG &amp; indexation benefits</a> <a href="https://www.businessinsider.in/business/corporates/news/shinier-zomato-gold-better-commissions-makes-analysts-bullish-in-the-long-term/articleshow/98938279.cms">Shinier Zomato Gold, better commissions makes analysts bullish in the long term</a> <a href="https://www.businessinsider.in/stock-market/news/back-to-square-one-nifty-circles-back-to-levels-last-seen-in-september-2021-markets-likely-to-end-2023-in-the-red/articleshow/98898424.cms">Back to Square One: Nifty circles back to levels last seen in September 2021, markets likely to end 2023 in the red</a>

Airtel pips Jio in 5G rollout, reaches 500 cities across the country

<ul><li>Starting from Tata Motors, Maruti Suzuki and Honda to Hero MotoCorp, several automakers have increased prices of their vehicles to comply with new regulatory norms required for a cleaner environment.</li><li>From April 1, vehicles will need to have an onboard diagnostic (OBD2) device to monitor the real-time driving emission levels to meet the stricter emission norms under phase two of the BSVI standards.</li></ul>The auto industry is gearing up for another price hike as the new fiscal year is around the corner. Typically, automakers hike prices of vehicles effective from April 1. This time, the <keyword id="172534" type="General" weightage="20" keywordseo="price-hikes" source="Orion">price hikes</keyword> are led by high inflation and regulatory requirements. Starting from Tata Motors, Maruti Suzuki and Honda to Hero MotoCorp, several automakers have increased prices of their vehicles to comply with new regulatory norms required for a cleaner environment. The Indian auto industry has geared up to meet the stricter emission norms under phase two of the BSVI standards. From April 1, vehicles will need to have an onboard diagnostic (OBD2) device to monitor the real-time driving emission levels to meet the stricter emission norms. On March 23, Maruti Suzuki India said it will increase prices of its model range in April to partially offset the impact of inflation and to meet the regulatory requirements. The automaker did not share the quantum of the price hike it intends to implement from next month. “The company continues to witness increased cost pressure driven by overall inflation and regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase. The company has planned this price increase in April 2023, which shall vary across models,” said Maruti Suzuki in an exchange filing. On March 21, Tata Motors also announced a price increase of up to 5% on its commercial vehicles starting from April 1, 2023. “The decision to increase prices is a result of the company's efforts to comply with the more stringent BSVI phase II emission norms,” said Tata Motors in an exchange filing. “As Tata Motors transitions its entire vehicle portfolio to meet these standards, customers and fleet owners can expect a range of cleaner, greener, and technologically superior offerings that deliver higher benefits and lower total cost of ownership,” added Tata Motors. At the same time, <keyword id="1381889" type="General" weightage="20" keywordseo="honda-cars-india" source="Orion">Honda Cars India</keyword> also increased the price of its entry level compact sedan, the Amaze, by up to ₹12,000 effective April 1. Joining the trend, two-wheeler maker Hero MotoCorp also made an upward revision in the ex-showroom prices of its select motorcycles and scooters by up to 2%. “The price revision has been necessitated mainly due to cost increases on account of OBD 2 transition,” said the automaker. The scooter maker also highlighted that the rural markets have been witnessing an upswing in demand, “thanks to the government schemes in the social sector and healthy agricultural outputs.'' Further, the company expects the growth momentum to lead into the upcoming festive season towards the latter half of the fiscal year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/shinier-zomato-gold-better-commissions-makes-analysts-bullish-in-the-long-term/articleshow/98938279.cms">Shinier Zomato Gold, better commissions makes analysts bullish in the long term</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/meet-rekha-rakesh-jhunjhunwala-the-top-indian-entrant-in-2023-m3m-hurun-global-rich-list/slidelist/98916777.cms">Meet Rekha Rakesh Jhunjhunwala, the top Indian entrant in 2023 M3M Hurun Global Rich List</a>

Time to buy your new hot wheels? Automakers set to increase prices of vehicles to meet stricter emission norms

<ul><li><keyword id="501707" type="ORGANIZATION" weightage="20" keywordseo="PV-Sindhu">PV Sindhu</keyword> and her agency Baseline Ventures is taking over 20 brands to court for using her image and name for moment-marketing, without her consent or proper permissions.</li><li>The agency is seeking damages of Rs 5 crore from each of the brands.</li><li>In wake of the incident, we speak to experts to understand how brands can be careful and avoid such legal complications when using <keyword id="6813822" type="UNKNOWN" weightage="20" keywordseo="Moment-Marketing">moment marketing</keyword> as a strategy.</li></ul>Last week, ace shuttler made the country proud by becoming the first Indian woman to win two Olympic medals. The country came together to congratulate her on her historic achievement and brands joined in, as much to congratulate her as to ride on the trend that Sindhu had created with her win. However, Sindhu is now said to be exploring legal options to take a lot of these brands to court, for using her name and image for their marketing purposes without proper authorization. In the past few years, we have seen many brands build their social presence with the help of moment marketing. We have seen brands jump in on topical conversations with their own take on something that is trending. In doing so, they have many-a-times, used individuals and their names to make the most of the trending moment. The benefits are obvious, while coming up with content that many relate with, they are also able to become a part of the conversation, making it easier for them to grab eyeballs and become a part of the conversation. However, with Sindhu taking an objection to the way her name has been used by brand, there is a chance that brands will become more careful about how they use a public personality's image or name in their content. Sindhu, who is managed by sports marketing agency Baseline Ventures, is reportedly seeking damages worth Rs 5 crore from brands that have used her name and images without her consent. Speaking on what is wrong with the way these brands have handled things, Yashwanth Biyyala, Director - Talent and Partnerships, Baseline Ventures said, “The fact that these brands used PV Sindhu’s images and name on their posts is a clear infringement on the player’s privacy. Moreover, they are also clearly flouting the norms of the International Olympic Committee (IOC), that has put together clear guidelines around advertising during the tournament. In fact there was a blackout period between July 13 (when the Olympic Village opens) and August 10 (two days after the Closing Ceremony) when even brands that sponsor the player are not allowed to post about them. Only IOC and the Indian Olympic Association (IOA) partners are allowed to post about the players.” In total, Baseline Ventures is taking close to 20 brands to court for flouting the rules, out of which legal notices have already been sent to 15. The brands that have already been sent notices include Happydent (Perfetti Van Melle), Pan Bahar, Eureka Forbes, ICICI Bank, HDFC Bank, Vodafone Idea, MG Motor, UCO Bank, Punjab National Bank, <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword>, Kotak Mahindra Bank, Fino Payments Bank, Bank of Maharashtra, Indian Bank and <keyword id="5998660" type="UNKNOWN" weightage="20" keywordseo="Wipro-Lighting">Wipro Lighting</keyword>. Over the years, we have seen many brands build a huge social media following on the back of moment marketing. In fact, Amul is one brand that has garnered immense love for their take on almost everything topical. Amongst new-age brands, we have seen the likes of Dunzo and Zomato churn out relatable, topical content time and again. So following this incident, will agencies need to be doubly careful about how they go about communicating on topical issues, when using the names and images of individuals? Sharing his view on the development, <keyword id="244384" type="PERSON" weightage="20" keywordseo="Lloyd-Mathias">Lloyd Mathias</keyword>, Business Strategist and former Marketing Head of HP Asia, Motorola and PepsiCo India said, “Moment marketing is fantastic in itself and brands that have their own take on topical issues do get consumers attention. However, when a brand uses a specific individual and his/her achievements to gain commercial mileage without prior permission or getting into a contract with that individual, then it is unfair. Brands should display more maturity and seek permission from athletes or their agents before using them overtly or covertly.Most Indian sportspersons outside cricket could benefit from a brand association that may provide them support – that could be monetary, or in terms of exposure or facilities.” To ensure brands do not infringe upon the privacy of celebrities, the <keyword id="120108" type="ORGANIZATION" weightage="20" keywordseo="Advertising-Standards-Council-of-India">Advertising Standards Council of India</keyword> (ASCI) already has a code in place. The code says "Advertisements shall not, without permission from the person, firm or institution under reference, contain any reference to such person, which confers and unjustified advantage on the product advertised or tends to bring the person, firm or institute into ridicule or disrepute. If and when required to do so by ASCI, the advertiser and the advertising agency shall produce explicit permission from the person, firm or institution to which reference is made in the advertisement," and ads that do not comply with this requirement may be in violation of the ASCI Code. On how brands need to tread in situations like the current one, Manisha Kapoor, Secretary-General, ASCI said, “Brands need to be careful and calibrated about everything that goes into an ad, right from the visuals, the words, and the implication of their messaging. Advertisements are made with high involvement of strategic and creative resources, and it goes without saying that they must pay keen attention to aspects that can be challenged.” Moment marketing is all about coming up with relatable posts when something is making news and reaping the benefits of joining the trend. Agencies usually have very less time in which to churn out content that is relatable and shareable, which is possibly why a few miss out on checking on the legal aspects of putting up such posts. However, in the wake of this incident, agencies will need to be doubly careful, said <keyword id="11806503" type="UNKNOWN" weightage="20" keywordseo="Rajni-Daswani">Rajni Daswani</keyword>, Director – Brand Experience, So Cheers. On how agencies can avoid getting into trouble, Daswani said, “Agencies should definitely educated themselves on what they are and aren’t allowed to do because if they are providing that service to their clients, it is their responsibility to cross checking at their end. Secondly, brands can simply be creative without using individual names, image .You want to be a part of the moment, but you also don't want to get stuck into the legal implications. There are a lot of creative, indirect ways to do it and the internet is full of people who understand such indirect references.” Sharing a similar thought, Manesh Swamy, Sr VP - Creative, Social, PR, Marcom, <keyword id="3900173" type="PERSON" weightage="20" keywordseo="Logicserve-Digital">Logicserve Digital</keyword> said, “The IPLs and the World Cups have stricter copyright laws and hence you don't see pictures of cricketers but victory silhouette poses in branded posts. The Golds and Silvers are still rare for us, so people and brands go a little overboard genuinely to celebrate the Olympic feat. If the brand is just celebrating these small moments of joy without selling anything, I guess it shouldn't be harmful. To ace moment marketing considering the current situation, the best move would be to do surrogate advertising and play with the essence of the moment.” On what could be a simpler way of getting around issues like this while also being a part of the moment, Sushant Vithaldas - Head of Business, Schbang Bengaluru said, "For the larger audience of viewers and consumers, it’s very difficult to distinguish between a direct association and a congratulatory post or show of support by a brand. Significant progress is being made in the way influencers endorse a product with callouts for “#PaidPartnerships” or #Ad. A simple fix like this that carries the words “#MomentMarketing” on such posts is a far more easier way to address the issue and let brands and marketeers celebrate the moment in its true spirit." So can this incident lead to the way moment marketing is done in the future? Sanjay Mehta, Joint CEO of Mirum India said, “For the time being, since ASCI has come down heavily on brands that used these stars without permission, other brands will be sensitive to this idea, and won't use any names if they don't have the rights. Just like brands have got tuned to not abuse the IPL property and the cricketers' rights and privileges. Considering that these non-cricket sports and the sportspeople do not get much visibility ordinarily, these controls will unfortunately, make them even less visible, and brands will not err to the side of caution. They may not even mention a wrestling hero or a woman golfer, for not knowing if they have any other brand engagements and could create conflicts! Moment marketing around events of this kind, will get constrained and may be limited to acknowledging the sport and not the star. These are challenging new areas to tread on, in the digital age, and reforms to these rules, so that guidelines have a reasonable balance, will emerge, ultimately.”

As PV Sindhu takes 20 brands to court for using her name and image without permission, here's how agencies and brands can be careful with moment-marketing in the future

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