Food delivery giant, Zomato India preparing to launch an Initial Public Offering (IPO) in the first half of 2021 is set to raise a little over $146 million as part of its Series J funding in a final push.
As a part of the Sequence J sequence, Zomato has already raised funds from major investors to date amounting to over $270 million.
Zomato has entered infrastructure play (rather, ‘asset heavy business’) with the launch of Cloud Kitchen. Zomato Infrastructure Services is a kitchen infrastructure service where in Zomato will work with current restaurant…
Online restaurant and food delivery company Zomato has acquired Gurgaon-based Sparse Labs, which has developed a solution for restaurants to track deliveries and minimise delays. The financial details of the…
However, Zomato said that the investors do not understand the business model and will become profitable very soon. The company has also claimed that it is profitable in eight countries and its ad business in various countries has up to 93% gross margin.
“Do not build a business for investors , keep on building and one day people will believe in what you are building.”
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