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Zomato’s Losses Rises to 260%

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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

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

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