Zomato’s Losses Rises to 260%

Comments Off on Zomato’s Losses Rises to 260% 11

Zomato, India’s online restaurant discovery and food ordering service continue to sink with a loss of 260% to INR 4.92 bn for FY2016. Zomato’s operational revenues doubled to Rs 1.85 bn for the FY16 from Rs 0.97 bn. The brokerage had raised a slew of concerns about Zomato’s advertisement-heavy business model, growing competition and businesses abroad. The report added that Zomato should instead develop a sustainable delivery business.

Deepinder Goyal, Founder and CEO, Zomato wrote in a blog,  “In fact, our existing investors are bullish about us and are willing to back us further, if needed. And, they have categorically said our valuations are justified,” Read more

Sweekar S

View all contributions by Sweekar S

Website: http://blog.tonsetelecom.com/

Similar articles

Get in Touch

Phone: +91 80 4093 6921
Web: www.tonsetelecom.com