Foodtech startup has generated significant interest among investors and rivals lately. First, there were speculations that Flipkart was looking at an investment in it. Then came reports of Zomato exploring merger talks with its biggest domestic competitor. And now, fresh reports suggest that SoftBank might be lining up a $250 million investment in Swiggy. If
Zomato's premium membership program, Zomato Gold, will launch in India soon, more than half a year after debuting in the UAE. The food-tech startup tweeted a teaser this morning without revealing a specific launch date. Pre-launch sign-ups have already begun. Interested users can log in to the Zomato site, and enter their email address. They'll be added to the invite list and receive prior information about the launch. Zomato is offering the first 10,000 memberships at "early bird prices".
Zomato, which recently turned profitable, is said to have explored a merger with its biggest domestic rival Swiggy. The two food-tech companies held preliminary discussions last week, according to reports. However, nothing concrete emerged owing to differences over business alignment and valuations. While Zomato proposed a 4:1 stock-based merger, Swiggy wanted to buy out its rival's food delivery business (Zomato Order) only.
Flipkart is on an investment spree. And why not? Armed with over $4 billion cash after SoftBank's $2 billion investment last month, Flipkart is actively scouting for companies that can help it expand its presence across verticals and sectors. Reports suggest that the e-commerce major has held talks with food startup Swiggy, online furniture retailer UrbanLadder, hyperlocal services provider UrbanClap as well as a host of fin-tech terms for potential buyouts. The negotiations are yet to materialize though.
Just a week after Zomato announced that it was profitable, the company has invested in Hyderabad-based home-food startup Tinmen. This will allow Zomato to strengthen its operations in the city as well as allow Tinmen to leverage the former's vast user base. Tinmen is similar to Mumbai-based Holachef which counts Ratan Tata among its investors that aggregates home-chefs and delivers pre-scheduled meals in offices and homes. It services about 30,000 orders a month.
India's premier food startup Zomato, which is close to being a unicorn, has announced that it is now a profitable business. "Yes, throughout the 24 countries where we operate, and across all our businesses, we are starting to make money," Zomato Founder-CEO Deepinder Goyal wrote on the company blog. And to mark the occasion, the restaurant discovery site has decided to waive off commission fee for restaurants that recorded the highest orders on its platform. This means that Zomato would not be taking the seven percent cut of every order made on its site.
India's leading food startup Zomato has acquired on-demand food delivery service Runnr in a bid to strengthen its logistics division. While the size of the deal is not known, Runnr's 1,500-strong workforce will join the Zomato team on completion of the acquisition. Zomato's food delivery operations started two years ago, and last month, hit 3 million orders. Runnr, on the other hand, is said to be fulfilling about 300,000 orders every month. The merger had been in the works for some months.
India's leading food-tech service Zomato, is said to be in talks with China's Alibaba to raise fresh capital, an event that could value it over $1 billion. Alibaba, through its finance arm Ant Financial, is likely to pick up a significant stake in the food ordering startup, ET reported. Zomato's last fund-raise happened two years ago when it got $60 million from Singapore's sovereign fund Temasek that valued the company at $960 million. If the Alibaba deal is successful, it would earn Zomato the much-prized 'unicorn' tag.
A day after an anonymous blog raised serious questions over Swiggy's ethics and business conduct, the food-delivery startup has rubbished all allegations. Swiggy has claimed that it was an act to malign the company, and involves former employees. In a detailed rebuttal penned by CEO Sriharsha Majety, Swiggy said that it prides itself in "honesty and integrity" and is making an "attempt to share the real facts."
After the rollout of GST on July 1, the food tech industry has been shrouded in uncertainty. While some services aren t clear on what tax slab they fall under, some have been allegedly charging variable GST rates and some others are said to have doubled prices of items on their menu. Several customers have shared posts and bills on social media claiming one or all of the above. Some have even said that their orders were cancelled because of "GST problems".
Ride hailing service Uber has launched its latest service in India, UberEATS. The new service is available through its own app available on iOS and Android, and helps you to quickly order and have food delivered to wherever you are from various restaurant partners. The service has been launched in Mumbai initially, and will eventually expand to other cities in India.
Earlier this year, Uber announced its plans of launching its on-demand food delivery app 'UberEATS' in India. According to the latest report, UberEATS is set to launch in the second quarter of this year. The company has already started gathering restaurant partners for its platform, in six cities including Bengaluru, Hyderabad, Pune, Mumbai, Chennai and Gurugram. The launch of UberEATS will put it in competition with popular food aggregators such as Zomato, Swiggy, Faasos, Yumist and Foodpanda.
Uber, the cab-hailing service is all set to launch its on-demand food delivery app, UberEATS, in India. Started as a pilot project in Los Angeles back in 2014, the service has seen a gradual expansion; and is now functional in top cities across the globe. These include Bangkok, San Francisco, Dubai, Cape Town, Taipei, Hong Kong, Tokyo and Singapore among others. After launching its services in India, UberEATS will be competing with already popular services such as Zomato, Swiggy and Foodpanda, to name a few.