Success Story of Zomato: An Indian Startup Making Waves Globally
Zomato, founded by Deepinder Goyal, has evolved from FoodieBay to a global giant acquiring companies worldwide, with a strong foothold in 22 countries. The journey of Zomato, marked by strategic acquisitions and exponential growth, showcases a visionary leader driving success through innovation and a deep understanding of customer needs.
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Presentation Transcript
AN INDIAN STARTUP ACQUIRING THE WORLD MADE BY: ANTRA KUMAR (BCOM(H) 3A)
INTRODUCTION Zomato is an Indian company that started as FoodieBay back in 2008 It was renamed as Zomato in November 2010 Backed heavily by InfoEdge and other investors, the company has raised about $113 million till date with a valuation of about $660 million. In 2012, it spread wings globally and started acquiring restaurant listing companies in emerging markets and made five low key acquisitions before gobbling up UrbanSpoon to mark its entry into the biggest of all markets US.
Zomato is now present in 22 countries with a listing of over a million restaurants globally.
ABOUT THE FOUNDER OF ZOMATO MR. DEEPINDER GOYAL Deepinder Goyal, Founder & CEO, Zomato, is the Founder and CEO of Zomato. Prior to starting Zomato, Deepinder worked as a management consultant with Bain and Company in New Delhi. It was at Bain that Deepinder conceived the idea of an online restaurant information service after seeing the demand for menu cards among his colleagues. He left Bain in 2008 to start Zomato (then foodiebay) out of his apartment and has since overseen strategy and product development. Deepinder graduated with a Mathematics and Computing degree from IIT Delhi in 2005 and hails from Muktsar in Punjab.
MILESTONES OF ZOMATO Number of listed restaurants: In 2008- 4000 restaurants In 2015 (Q1)- 384,100 restaurants Monthly visitors of zomato: In 2008- 0.015 million In 2015- 35 million Yearly revenue of zomato: In 2008- 0.06 crores In 2013- 11.3 crores
VISION & SUCCESS FACTOR VISION: To expand to 50 more countries SUCCESS FACTOR: First mover advantage Strong content platform Efficient employees Good rating mechanism & social platform Funding from experienced source
SUCCESS STORY The key factor for zomato s success is its marketing strategy and in depth knowledge of its competitors. The company has spread in 20 countries with its headquarter in New Delhi, India providing service to 35mn users monthly. Facebook, Twitter, Pinterest are the 3 main platforms which made the base for the success of zomato with a deep presence among their customers. Pankaj Chaddah, the co- founder of Zomato agreed, ads on the mobile app have changed the revenue game for them . More than 50% of the total traffic comes from their mobile app.
SWOT ANALYSIS STRENGTHS- Simple & user friendly interface Aggressive and Innovative marketing strategy Strong brand recognition and has won several accolades & awards OPPORTUNTIES - Opportunity to expand to further more countries - Increasing internet penetration & number of smartphone users - Rapid technology development - - - - Changes in government policy can easily affect the business model - Business model can be easily imitated by other players THREATS - Intense competition Lack of clear rules and regulations WEAKNESS - Competition from search engines & other similar apps means limited growth - Drastic growth means susceptible to bad content
Food Startup Zomato Is India's First E- Commerce Unicorn To Break Even, Headed For Profitability:- India s largest restaurant search and food delivery startup, Zomato, announced early this week that it has broken even in several big markets including India and will hit profitability by mid- 2016. When it does so, Zomato will be the first Indian e-commerce unicorn to become profitable, a significant milestone in a market where Indian startups are finding it quite challenging to lure investors for subsequent rounds because none of them are close to profitability.
STEP 1- OPEN THE APP & CHOOSE FROM ANY CATEGORY YOU WANT
