Food is the major powerhouse for anybody across the globe. Of course, there are many individuals who desire for good food and to taste a diversity of cookeries that are accessible. The furtherance in the expertise has surfaced a way for the formation of numerous inventions and it is no less to mention that food delivery app growth is one among them.
In this generously sumptuous system, it has become difficult for every individual to spend time on everything. Besides, cooking food after an eventful day involves a lot of time and that is what that has added enormous rage about these food delivering apps, where food will be carried straight at your entrances.
For all these resourceful views, there are those uncommon individuals who have a flawless understanding of all the leanings and so are these individuals Pankaj Chaddah and Deepinder Goyal. They are the master brains behind this prodigious food delivery application ‘Zomato’. Zomato has been and is the utmost extensively used ordering application that fascinated many clients with its innovatory approaches.
Table of Contents
The beginning :
Deepinder Goyal and Pankaj Chaddah were the alumni of IIT Delhi and were the personnel of Bain & Co in New Delhi. In their workplace, they came across many individuals waiting for a long time just to obtain a flash of the menu card. This is when the clue of gaining an answer was planted in their mind and that led to the undergrowth of ‘Foodiebay’.
The soft copies of the menu cards were uploaded on the website and afterward, everybody in their workplace began using this facility which conserved much of their time. This, in turn, amplified the traffic on their website. Soon they lengthened their website to make it available to everybody in the market.
The story ahead :
Foodiebay originally started its services in Delhi and then its services were stretched to cities like Mumbai and Kolkata. The number of clients using the application saw a continuous Northward expedition with every passing year. Foodiebay had developed enormous popularity as it was rendering out-of-the-box services to the clients.
This had enabled the founders of Foodiebay to gauge the project on an international level. Hereafter, Foodiebay was modified as ‘Zomato’ to make it more attractive, easy to learn and also to remove the muddle with the website eBay. In 2010, Foodiebay was formally renamed as Zomato.
Funding :
As the practice of Zomato has seen a remarkable gain, the creators of Zomato decided to streamline the access of the application for the clients. Then a mobile app was made to advantage the individuals and to make access informal for the users. However, origination demanded more capitals. The founder of the prominent job search engine Naukri Sanjeev Bikhchandani was riveted by Zomato, and he began to invest in the plan.
In the year of 2010, he capitalized up to US$ 1 million through Info Edge (India). The very following year, the same investors provided them with an enormous fund of US$ 3.5 million. Next year, a gigantic amount of US$10 million flooded in from Info Edge. Info Edge now grasps more than 50%. Other financiers of this business comprise Vy Capital, Sequoia Capital, and Temasek.
The success formula :
The originators of Zomato, Deepinder Goyal and Pankaj Chaddah deliberate that signing the precise individuals is the chief motive for their company’s astonishing development and moreover, it was also the utmost obstacle met by them while creating Zomato. Now, they have a group who play a significant role in bricking their dream mission.
The scary challenges :
The most noteworthy obstacle they faced was to search for a way to cover all the zones in all the essential cities so the individuals who crux on them do not nose dive to miss the premium restaurants. This difficulty was present in the initial stages and bears to be an obstacle but the creators along with their team members are keeping all their endeavors to make the state improved.
Some Significant facts :
- In 2010, Zomato.com was termed among the top 25 most promising internet companies in India by the SmartTechie Magazine.
- Zomato stated around 2.5 million guests on its website in March 2012 and presently it has a user base of about 62.5 million.
- It started-off with annual revenue of merely INR 0.06crores in 2008 and in the last fiscal they have managed to reach INR 30.06 crores which shows stable & gradual growth.
- Zomato holds three international acquisitions; New Zealand’s Menu-Mania, Czech Republic’s Lunchtime.cz and Slovakia’s Obedovat.sk, giving them a huge platform and recognition internationally.
- Zomato now holds a post-money valuation of around INR 1,000 crore or around $158 million because Sequoia Capital lately picked around 17.2 percent stake as part of the latest investment. (FYI, this happened on the day Deepinder Goyal became a father and he literally juggled between his wife in labor and cracking a huge deal of which papers were awaiting to be signed on the nurse’s table)
- Zomato.com currently has an Alexa Ranking (traffic ranking of a website) of 973, has 450,532 Facebook Fans and 30,427 Twitter followers.
- Zomato.com is presently named as the “Asia’s largest restaurant guide”!
Now it is obvious that the business has yet not achieved its success but observing all these factors it becomes positive that the business is on its way to decisive success and when we will look at them a few years down the line, there certainly will not be a doubt about it in our thoughts.
