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<ul><li><keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> on Tuesday claimed that X, formerly <keyword id="19959118" type="General" weightage="20" keywordseo="Twitter" source="keywords" meta.keywordsubtype="org" meta.entityname="Twitter" meta.hostid="261" meta.entityid="Twitter">Twitter</keyword>, reached a 'record high in usage'</li><li>Musk said that X experienced a total of "417 billion user-seconds globally" in one day. </li><li>In March, XData claimed that 250 million people use X every day for 30 minutes on an average.</li></ul>Tech billionaire and <keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> CEO Elon Musk claimed on Tuesday that his platform X, formerly Twitter, reached a 'record high in usage'. Musk said that X experienced a total of "417 billion user-seconds globally" in one day. In a post on X, Musk said, "<keyword id="22429276" type="General" weightage="20" keywordseo="X-usage" source="keywords">X usage</keyword> hit another all-time high yesterday with 417 billion user-seconds globally! In the US, user-seconds reached 93B, 23% higher than the previous record of 76B. In a single day." In March, XData claimed that 250 million people use X every day for 30 minutes on an average. "You're absolutely right @XNews. 250 million people use X every day. 550 million people visit the global town square every month. On average, users spend 30 minutes a day on X," the post said. XNews said that X is 'indispensible'. In a post, it said, "X is indispensable - and the numbers prove it! What's the latest @XData?" Musk in October 2022, took ownership of the influential <keyword id="19897919" type="General" weightage="20" keywordseo="social-media" source="keywords">social media</keyword> platform - Twitter in USD 44 billion deal. In the ensuing days, Musk fired top executives, laid off half of the company's staff, formed a content moderation council to review account reinstatements and revamped the platform's subscription service. There have been many changes in the company since Tesla and SpaceX CEO Elon Musk took over, some of which have been rather contentious, such as when he opted to restore suspended accounts. With controversial decisions, Twitter started losing huge amounts of advertisement revenue, after which Musk introduced paid verifications in the form of <keyword id="20038997" type="General" weightage="20" keywordseo="twitter-blue" source="keywords">Twitter Blue</keyword>. Musk, in July 2023, rebranded the platform as X over the summer, replacing the well-known blue bird associated with Twitter. To boost platform engagement, Musk announced on March 28, 2024 that X accounts with over 2,500 verified subscriber followers would be granted free access to Premium features, while those with over 5,000 followers would enjoy Premium+ features at no cost. SEE ALSO:<a href="https://www.businessinsider.in/business/news/zomato-and-swiggy-increase-platform-fee-by-20-food-deliveries-to-get-costlier/articleshow/111758782.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/zomato-and-swiggy-increase-platform-fee-by-20-food-deliveries-to-get-costlier/articleshow/111758782.cms" target="_blank">Zomato and Swiggy increase platform fee by 20% – food deliveries to get costlier</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-summer-launch-event-oneplus-nord-4-pad-2-and-more-to-launch-today/articleshow/111772672.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-summer-launch-event-oneplus-nord-4-pad-2-and-more-to-launch-today/articleshow/111772672.cms" target="_blank">OnePlus Summer Launch Event – OnePlus Nord 4, Pad 2 and more to launch today</a><a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-four-ipos-to-hit-the-street-this-week/articleshow/111745283.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-four-ipos-to-hit-the-street-this-week/articleshow/111745283.cms" target="_blank">IPOs this week – four IPOs to hit the street this week</a>

Elon Musk claims 'record high' X usage

<ul><li>After Zomato’s Hrithik Roshan and Katrina Kaif ads drew mixed reactions on social media, it has now released a statement clarifying that the campaign was conceptualised 6 months ago.</li><li>The ads were called tone-deaf and Twitterati said that Zomato hired celebrities to divert the conversation around gig workers payouts and working conditions.</li><li>Zomato also said that it will soon upload a blog explaining how its delivery partners are fairly compensated for the work/time they put in.</li></ul>Zomato’s first-ever celebrity-led campaign has drawn mixed reactions on social media. Some declared that the campaign is creative, relatable and while a number of others said that it was released to simply control the damage caused by the controversial <keyword id="1725853" type="General" weightage="20" keywordseo="danish-sait" source="Orion">Danish Sait</keyword> video. Sait’s video drew flak from netizens for not depicting the realities of the profession, where he took on the roles of a Zomato delivery boy for a day in a bid to humanise the delivery personnel. <div type="Youtube" id="7zZmaO7s7oI" title="Zomato Delivery Partner for a day! Feat. Danish Sait 😍" thumbUrl="https://i.ytimg.com/vi/7zZmaO7s7oI/mqdefault.jpg"></div> However, Zomato has now released a statement on Twitter clarifying that the campaign featuring Katrina Kaif and Hrithik Roshan was conceptualised six months ago, ‘long before any social media chatter around gig worker payouts and working conditions.’ <div type="twitter" handle="zomato" handlename="zomato" image="http://pbs.twimg.com/profile_images/1100268333352525826/IkyIXuZ4_normal.png" favoritecount="450" retweetcount="50" status="The other side of the story... https://t.co/hNRj6TpK1X" createdat="1630325343000" id="1432314417954185220"></div> Conceptualised by <keyword id="137221" type="General" weightage="20" keywordseo="mccann-worldgroup-india" source="Orion">McCann Worldgroup India</keyword>, ‘Har Customer Hai Star’ Campaign aims to convey that all consumers hold an equally special place in Zomato’s heart. <div type="Youtube" id="PpNdfDM4xhc" title="Har Customer Hai Star! Ft. Katrina Kaif" thumbUrl="https://i.ytimg.com/vi/PpNdfDM4xhc/mqdefault.jpg"></div> <div type="Youtube" id="dXirvvVXXWA" title="Har Customer Hai Star! Ft. Hrithik Roshan" thumbUrl="https://i.ytimg.com/vi/dXirvvVXXWA/mqdefault.jpg"></div> The campaign, however, was called ‘tone-deaf’ and some netizens said that Zomato hired celebrities to divert the conversation around gig worker payouts and working conditions. <div type="twitter" handle="Sankul333" handlename="Sankul Sonawane" image="http://pbs.twimg.com/profile_images/1383428089355522054/Vu_UwRkU_normal.jpg" favoritecount="1320" retweetcount="218" status="Instead of paying celebrities big money for ads to whitewash their horrible treatment of delivery staff, Zomato can… https://t.co/DLJl3l5bH2" createdat="1630050634000" id="1431162207811760130"></div> <div type="twitter" handle="PoojaPrasanna4" handlename="Pooja Prasanna" image="http://pbs.twimg.com/profile_images/1346493523541991424/p_wv_ASJ_normal.jpg" favoritecount="14674" retweetcount="2929" status="I don't want my groceries delivered in 10 or 20 minutes. I would rather that the delivery person takes his time to… https://t.co/8iMDt22DiK" createdat="1630099304000" id="1431366344197349382"></div> <div type="twitter" handle="peeleraja" handlename="peeleraja" image="http://pbs.twimg.com/profile_images/1429447980587753472/rrCBxmjY_normal.jpg" favoritecount="548" retweetcount="63" status="This ad is such a self own. Zomato essentially boasting of how their drivers are under pressure to deliver, rain or… https://t.co/mrXEbC3n2o" createdat="1630048563000" id="1431153522490310658"></div> According to Zomato’s statement, here is what the foodtech platform intended to achieve through its campaign: <ul><li>Make delivery partners the hero of the ad</li><li>Highlight that we should talk respectfully to delivery partners (like Hrithik and Katrina do in the ad, and very few other people do)</li><li>Raise the level of dignity associated with a delivery’s partner’s job</li><li>Demonstrate with pride which most of our delivery partners serve our customers with</li><li>Last but not least, reiterate that every customer is a star for us and no less than Hrithik or Katrina</li></ul>Zomato’s statement further addresses various concerns pointed out by Twitter users and mentions that its Net Promoter Score (NPS) has been increased from -10% to 28%. It also said that it will soon upload a blog explaining how its delivery partners are fairly compensated for the work/time they put in.

TV ads featuring Hrithik and Katrina were conceptualised 6 months ago: Clarifies Zomato after its campaign draws mixed reactions on social media

Zomato-owned quick commerce platform <keyword id="12724311" type="General" weightage="20" keywordseo="blinkit" source="Orion">Blinkit</keyword> has shut down over 100 dark kitchens in Delhi, Gurugram, Faridabad, Ghaziabad, Noida, and Greater Noida for the past three days due to the ongoing delivery worker strikes, and it is expected that a larger number of stores will also go offline in the coming days, according to reports. Delivery executives are opposing a change in their compensation system, which they allege will result in lower profits. The media reports said that about 50-60 stores in Gurugram have closed, with more closures expected in Noida and Delhi as the new fee structure is implemented. In addition, customers in the region have been facing difficulties placing orders at offline stores that use the Blinkit app. These locations are currently marked as 'temporarily unavailable' due to ongoing maintenance, which has prompted several customers to voice their concerns on social media. Blinkit operates approximately 400 dark stores in 20 cities throughout the country, with a significant presence in the Delhi-NCR region, where half of its stores are located. Meanwhile, Zomato's consolidated loss widened to Rs 346.6 crore (year-on-year) for the quarter that ended December 31, against a loss of Rs 63 crore in the same period last year, the company said. The company said that adjusted revenue witnessed a 66 per cent growth to Rs 2,363 crore (YoY). "We think that the current slowdown is a result of a few temporary factors -- macro slowdown for the mid-market segment, boom in dining out for the premium-end, and boom in travel at the premium-end," he said in the company's earnings results. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-mpc-decisively-in-a-rate-pause-territory-as-inflation-cools-down/articleshow/99497132.cms">RBI's MPC 'decisively' in a rate-pause mode as inflation cools down</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a>

Over 100 Blinkit dark kitchens shut in Delhi-NCR due to delivery boys' strike

<ul><li>After consumers spammed Zomato’s social media pages criticising its <keyword id="152806" type="PERSON" weightage="20" keywordseo="butter-chicken">Butter Chicken</keyword> ad on YouTube, the brand has decided to give its users an offer they wouldn’t refuse. </li><li>It is calling for entries for an ad from its consumers and has promised a handsome reward of Rs 25 lakh for the best creation. There are 2nd, 3rd and 4th prizes, too! </li><li>Apart from the quirkiness in which they made this announcement, we loved the fact that the platform agreed with the consumer reaction to their ads and said they agree their YouTube ads suck. </li></ul>Zomato’s latest social media plan is proof that the brand has a super innovative marketing team working behind the scenes. After consumers felt tired of watching Zomato’s YouTube and TV ads, a few of them took to social media platforms to make fun of the brand for its Butter Chicken ad. However, Zomato is taking this criticism in its stride and has come up with a rather smart idea that will not only help it come up with some fun campaign ideas, it will also help it win brownie points with its consumers. The food-tech firm has admitted that its “YouTube ads suck!” So now, the brand has opened the floor for consumers to send in their entries for a creative ad. Apart from the novelty of the idea of crowdsourcing an ad, the fact that they admitted that they are as tired of watching their Youtube ad as is their consumer, made them win a lot of hearts. <div type="javascript" title="Instagram" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Users can send in their entries by uploading their advertisement under one minute on Instagram (not TikTok, reminds Zomato with an lol) with <a href="https://www.instagram.com/explore/tags/zomatoloot/">#zomatoloot</a> before Gandhi Jayanti. The best entry will win Rs 25 lakh and the ad will be aired on TV. There are 2nd, 3rd and 4th prizes as well. The winner will also get bragging rights. The creator is required to follow all social distancing rules. Another criteria for judging the best ad will depend on the likes the ad sees on Instagram. Winners will be announced 7-10 after Gandhi Jayanti. It is Zomato’s honest and witty communication that has helped it see steady growth now as par to <a href="https://www.businessinsider.in/business/startups/news/zomato-ceo-bets-on-full-recovery-for-food-delivery-soon-affluent-indians-and-ipl-season-drive-orders/articleshow/78270715.cms">pre-COVID </a>levels. The overall sector is clocking ~85%+ of pre-COVID GMV (Gross Merchandise Value), up from ~75%+ last month. With the ongoing IPL season and the subsequent festival season, Zomato is also expecting food delivery in both metros and smaller cities to make a full recovery soon – and resume growing over pre-COVID levels.

Zomato is offering 25 lakh for a consumer-created ad after users said its ‘YouTube ads suck'

<ul><li>While email marketing seems like a dying phenomenon, Zomato has proven time and again that if you do it right, consumers click and order. </li><li>Humour can be a powerful tool to get your point across and from various pop culture references to punning their way into our inboxes, Zomato has done it all. </li><li>This time, it has emailed its users a request to ‘Hire Biryani’ as Craving Executive Officer. </li></ul>Zomato, a brand that is known for its social media and email marketing strategy, has done it again. This time, it has sent a witty Curriculum Vitae (CV) of Biryani to fill in the role of ‘Craving Executive Officer in your hearts’. Biryani is the most-desirable dish on Zomato as it has received around 44 lakh plus orders after lockdown. Its CV highlights some of the key qualities that Biryani possesses, like it comes in ‘handi,’ it is multi-layered and smells ‘yummazing.’ It is endorsed by 90,000 plus restaurants in India and has worked as a ‘Senior Sleep Inducer’ at Biryani and Bed and Aromatherapist at Main Core Essentials. Zomato also added a call-to-action button on its email. It doesn’t say ‘order now,’ like you would expect it to. It reads, “Hire now.” <div type="image" title="Zomato Biryani Cv" msid="77871212" hostid="261"></div> Food-tech firm Zomato is known for its powerful visuals, bold colours and humour. It is that one brand whose emails you don’t want to unsubscribe to. Other examples of Zomato’s mailers Its email marketing is based on food insights and eating behaviour. During the lockdown, parents were quite skeptical about ordering food online. So, Zomato reached out to its mailer base with a smart, witty solution or cheat-sheet. <div type="image" title="Zomato cheat sheet" msid="77871223" hostid="261"></div> And to connect with its users who are single, Zomato sent an email saying, “Hey there, it's a match.” “Hello, Do you super-like food? Then it’s time to let go and confess your love! Have a delicious date at home with the dishes you love and enjoy spending some quality time with your favourites,” read its body copy. <div type="image" title="unnamed" msid="77871240" hostid="261"></div> After COVID-19, people have turned to online services. Zomato has grown leaps and bounds after the lockdown and is valued at $3 billion today. It has doubled its revenue from $192 million in FY19 to $394 million in FY20. <div type="image" title="Hello-Zomato-New" msid="77872220" hostid="261"></div>

If Biryani had a CV, Zomato shows what it would look like

Apologising for unintentionally hurting sentiments, restaurant aggregator <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion">Zomato</keyword> on Thursday withdrew an ad after it came under fire for depicting the actor who played the Dalit character <keyword id="1339390" type="General" weightage="100" keywordseo="kachra" source="Orion">Kachra</keyword> in the film "<keyword id="20409" type="General" weightage="80" keywordseo="lagaan" source="Orion">Lagaan</keyword>" as items made of recycled waste. The ad, which draws a link between the character Kachra with 'kachra', the Hindi word for garbage, was aired on World Environment Day on June 5. As ire grew and the ad came under attack on social media for being casteist, the company issued an apology from its official Twitter handle and said the intent was to "spread awareness about the potential of plastic waste and benefits of recycling in a humorous way". "Unintentionally, we may have hurt the sentiments of certain communities and individuals. We have taken down the video," it said. The ad, aiming to show the food delivery company's recycling efforts, was termed "disgusting", "blatantly casteist", and "extremely insensitive" by netizens on Twitter. "Masaan" director <keyword id="1005369" type="General" weightage="50" keywordseo="neeraj-ghaywan" source="Orion">Neeraj Ghaywan</keyword>, filmmaker Madhurita Anand and Dalit historian Karunyakara Lella were among those who spoke out. In the nearly two-minute ad, actor Aditya Lakhia, who played the character in the 2001 hit film, is depicted as a lamp, paper, paperweight, watering can, and different types of jackets -- the accompanying text detailing how much recycled 'kachra' was used to make each item. The company in its now-deleted ad on YouTube also claimed it has "recycled 20 million kg of plastic kachra so far". "Zomato voluntarily recycles more than 100% of the plastic used to package orders, and keeps it out of landfills. This 20 million kg of plastic waste, recycled in FY 23 under our 100% plastic-neutral deliveries initiative, can be turned into many items of immense value. We believe in the power of recycling, and kachra - the best spinner in the entire British Raj - does as well," the description of the ad read. Discussing the controversial ad campaign, communications strategy consultant Karthik Srinivasan said Zomato did not think adequately about making the character perform "seemingly dehumanising and menial tasks". "There's a context to Kachra's character in 'Lagaan', and within the larger spectrum of commercial entertainment in India, on how castes are portrayed, and how Dalits, in particular, are portrayed or stereotyped. "Coming from that angle, to see the character perform seemingly dehumanising and menial tasks -- even if he is performing them figuratively, as 'waste' and not his Lagaan character per se -- made the ad seem very awkward," Srinivasan told PTI. He added that Zomato attempted to mine a "kind of sly humour" from the name for waste upcycling/recycling. The video was slammed online for its seemingly casteist overtones. "#Kachra from #Lagaan was one of the most dehumanised voiceless depictions of Dalits ever in cinema. @zomato has used the same character and made a repulsive #casteist commercial. A human stool? Are you serious? Extremely insensitive," Ghaywan wrote on Twitter. Filmmaker Madhurita Anand wrote in reply to Ghaywan's tweet: "That is just so offensive. One has to wonder who these people are who created the advert, approved it and put it online without once thinking about it." Dalit historian and writer Karunyakara Lella also hit out at Zomato for its "Dalit phobic" advertisement. "Why #Zomato is insensitive to Dalit sentiments? Why it takes liberty to hurt Dalit life by humiliating Dalit Identity? #BoycottZomato for #DalitPhobic #casteracist advertisement," Lella wrote. Another Twitter user, Sana Satpathy, said Zomato is "beyond disgusting" and its marketing head should be fired immediately. She used the hashtag #BoycottZomato and called for a public apology. The food delivery company has found itself on the wrong side of marketing in the past as well. In 2017, an outdoor ad campaign in major cities including Delhi, Mumbai and Bengaluru showed Hindi expletives "MC, BC" as abbreviations for mac n' cheese and butter chicken. The company later withdrew the ad after backlash on social media. In 2022, Zomato pulled down an advertisement featuring actor Hrithik Roshan who was shown to be craving for a "thali" (food platter) in Ujjain so he ordered it from "Mahakal". Priests of the famous Mahakaleshwar temple in Madhya Pradesh objected, claiming that it offended Hindu sentiments and demanded its withdrawal. Madhya Pradesh Home Minister Narottam Mishra had issued directives to the police to look into the controversy. The company later apologised clarifying that the "Mahakal" reference was for a restaurant and not the temple. The character Kachra in "Lagaan" is a polio-affected Dalit. When Aamir Khan's character Bhuvan insists on adding him to the cricket team - the central theme of the film -- after spotting his spinning skills, upper caste members openly reject the idea as he is an "untouchable". However, he ends up playing a crucial role in the cricket match. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/bajaj-finserv-after-twitterati-scream-foul-about-pesky-calls-rbi-says-will-look-into-it/articleshow/100849176.cms">After Twitterati screams foul about pesky calls, RBI says 'will look into it'</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/hiring-in-india-slowed-down-by-7-in-may-foundit-report/articleshow/100848986.cms">Hiring in India slowed down by 7% in May: Foundit report</a>

Zomato takes down ad depicting 'Lagaan' character Kachra as recycled waste items

<ul><li>In an interview with Business Insider, Gaurav Verma, Chief Marketing Officer, Brand at <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>, spills the beans on how they brew <keyword id="3952661" type="PERSON" weightage="20" keywordseo="viral-posts">viral posts</keyword>. </li><li>Zomato with 1.4 million followers on Twitter (in just one handle), has been leading the social media game with its viral content.</li><li>Business Insider decodes what goes on behind the scenes of the virality.</li></ul>It was just another July afternoon, well until a tweet appeared on Zomato’s timeline – Guys, kabhi kabhi ghar ka khana bhi kha lena chahiye (Guys, sometimes you should have home food too). Coming from a foodtech unicorn – valued at $2.6 billion at last count – which takes in millions of orders for home delivery from restaurants, the tweet went viral and invited several other leading brands – YouTube India, Amazon Prime, Fox Star, Jio Saavn and many more – to join in. 
<div type="image" title="IMG-20190708-WA0117" msid="70697105" hostid="261"></div>

 The <a href="http://www.adageindia.in/digital/why-are-zomato-and-other-new-age-brands-anti-selling-on-twitter/articleshow/70132155.cms">‘anti-marketing’ post</a>, not only worked well – the sheer scale of its virality was surprising even for Zomato. “When we made that post, we were on our way to hit 500 cities with our food delivery services. And the order volumes were going through the roof. For us, the ‘ghar ka khana’ post was more of a pause to celebrate, and the tweet was just a reflection of what we felt was a good message to dwell on,” said Gaurav Verma, Chief Marketing Officer, Brand at Zomato. And that is exactly the secret of Zomato’s success on social media. There’s no one set formula or frequency that works on social media. The trick is to try relatable posts with an element of surprise. “In the last 6 months, their followers and engagement has doubled,” Verma said so much so that they had to change their internal metrics of evaluation. The food delivery service’s India handle now has 227K followers on Instagram, 1.4 million on Twitter, and 1.9 million on Facebook. In July 2019, Zomato tied up with Tiktok - an immensely popular platform for short videos, especially, in smaller cities and towns – to “<a href="https://www.businessinsider.in/zomato-and-tiktok-come-together-to-spread-the-message-on-food-wastage/articleshow/70174539.cms">spread the message on food wastage</a>.”. With just 582 followers in a month, the TikTok influence has been tepid so far. Life as it happens A young team deliberates over social media posts everyday. There is no set pattern or strategy – just a bunch youngsters reflecting on life as it happens. “There’s no one brain churning out awesome ideas - it’s a small team of dedicated individuals who are keen on experimenting and close-knit enough to democratically work together,” said Verma. And it works. Almost every other week, a social media from Zomato post hits goes viral, whether it is a post about chai (tea) or memes on food. They are so effective even other brands, often, ride the wave. “This was an interesting development as brands wouldn't have proactively collaborated in such an unscripted or un-initiated banter, let’s say, two years ago. We did not expect other brands to join-in, but it was very warm of them to do so,” said Verma. Zomato’s building a case study for other brands to follow – everyday conversations can make a difference. “Our ideas tend to be relatable because they speak directly to the masses. So if you notice the language we use across our platforms, you’d find it very approachable. Our aim is to not always go viral but to stay relevant. And in most cases, this relatability factor drives the overall engagement,” shared Verma. Trigger happy trolls However, it’s not always fun. Zomato recently <a href="https://www.businessinsider.in/zomato-just-shut-up-a-bigoted-customer-in-less-than-ten-words/articleshow/70462499.cms">shutdown a bigoted customer</a>, who refused to take an order from a delivery guy of a different religion. Zomato replied, “Food doesn’t have a religion. It is a religion”, while its co-founder and CEO Deepinder Goyal said he wasn’t sorry to let go of any business that comes in the way of their values. The team at Zomato decided to take a stand on the matter and strongly felt the need to respond in the way they did. The post got a slot in the primetime news television with debates on social media and even trolls making their way to Zomato’s social media. “If given a chance, would we have done things differently - absolutely not,” said Verma. See Also: <a href="https://www.businessinsider.in/some-of-zomatos-staff-are-protesting-saying-wont-deliver-beef-or-pork/articleshow/70636828.cms">Some of Zomato's staff are protesting saying "Won't deliver beef or pork"</a> <a href="https://www.businessinsider.in/zomato-ceo-deepinder-goyal-reveals-the-real-reason-for-the-howrah-protest/articleshow/70670087.cms">Zomato CEO reveals the real reason for the Howrah protest</a>

Zomato reveals its secret recipe that makes its social media posts go viral ever so often

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”

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> is likely to witness record sales of smartphones this festive season, at around $7.7 billion (over $61,000 crore), and 1 out of every 3 smartphones sold during the festive season will be 5G enabled, a report showed on Tuesday. E-commerce channels are expected to capture 61 per cent of the overall sales, down from 66 per cent last year, according to Counterpoint Research. The smartphone retail average selling price (<keyword id="218869" type="General" weightage="80" keywordseo="asp" source="Orion">ASP</keyword>) during the festive season will grow 12 per cent to reach its highest ever at $242, although the unit sales may decline by 9 per cent (on-year). India's smartphone market is entering this festive season with the highest ever channel inventory of over 10 weeks, the report noted. "The festive season has been the highlight of India's smartphone market where almost 20 per cent of the annual sales happen over four-five weeks. Hence, this festive period is important for all the players in the value chain," said senior analyst <keyword id="9638737" type="General" weightage="80" keywordseo="prachir-singh" source="Orion">Prachir Singh</keyword>. This year, the sales will start on September 23 with Amazon's Great India Festival and Flipkart's Big Billion Days. "According to our forecast, the festive season smartphone sales will account for around $7.7 billion, the highest ever. However, we estimate a 9 per cent YoY decline in terms of shipments. We have seen a similar trend in China's 618 festival this year, where shipments declined 10 per cent YoY," Singh noted. The festive shopping season will end with the Diwali sale. According to Research Director <keyword id="1943940" type="General" weightage="80" keywordseo="tarun-pathak" source="Orion">Tarun Pathak</keyword>, the retail ASP (average selling price), similar to the total value, will be the highest ever and may record 12-15 per cent YoY growth. The consumer demand is likely to be high, especially in the mid-tier and premium segments. The various promotions and offers targeting the Rs 15,000 segments have already been announced by the brands and channels on social media. "The increasing affordability of these devices due to promotions and offers will drive their sales. This will be further supported by the 4G-to-5G migration. According to our estimates, one out of every three smartphones sold during the festive season will be a 5G smartphone," said <keyword id="6371466" type="General" weightage="80" keywordseo="pathak" source="Orion">Pathak</keyword>. In terms of channels, the offline market players are pushing promotions and offers that are on par with their online counterparts. "The entry-tier and budget segments have witnessed a considerable decline in recent quarters. However, we expect these segments to grow during the festive season, though the growth may be limited as the consumers in these segments have been under pressure due to macroeconomic headwinds," Pathak added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/top-10-highest-tax-paying-companies-in-india-for-fy22/slidelist/94330332.cms">These companies paid the highest taxes in India in FY22</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/phonepe-paytm-myntra-reap-benefits-of-ipl-advertising-while-zomato-scored-over-swiggy-without-an-ipl-tv-ad-bobble-ai-report/articleshow/94331064.cms">PhonePe, Paytm, Myntra reap benefits of IPL advertising, while Zomato scored over Swiggy without an IPL TV ad-Bobble AI report</a>

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

India to see record smartphone sales worth ₹ 61,000 cr this festive season

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