Zomato logs 225% surge in revenue in first half of 2019
New Delhi, Oct 1 (IANS) Online food delivery platform Zomato on Tuesday said its revenue for the first half of the financial year 2019-20 saw a massive three-fold jump – from $63 million in the same period in 2018-2019 to $205 million this time.
Zomato said that its monthly burn rate was down to 60 per cent of what it was six months ago.
“We achieved tremendous results in optimising our costs, without affecting new product launches or innovation,” the company said in a statement.
Zomato is now present in over 500 cities across the country.
“Our order volumes in top 15 cities have doubled in the last 12 months; while the remaining cities already contribute 35 per cent to our order volumes,' said the company, adding that it is currently working with over 200,000 delivery partners.
From the total cyclist fleet of 23,000, the company has most number of cyclist fleet — 6,100 — for delivery in Delhi and the average delivery time is 25.7 minutes.
The number of restaurant listings globally on Zomato has grown from 1.2 million in September 2018 to 1.5 million in September 2019.
“On table reservations, we've grown from 800,000 booked covers in January 2019 to 1.3 million booked covers in September 2019 – organically and with zero investment,” the company announced.
The company said its food@work business is growing well, and some very large accounts are slated to go live soon.
“We are already doing nearly 3 million orders a month for food@work,” said Zomato.