By the way, Swiggy charges 30% commission fee.
The company will remotely continue to operate in the markets from India headquarters.
Zomato had earlier claimed that it has achieved operational break even in six countries including India, the UAE, Lebanon, Qatar, the Philippines and Indonesia.
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.”
Burning money in an unreasonable way to grow the business doesn’t make sense. Agreed, competition is tough, but positive unit economics are necessary for any business to scale. Building companies on negative unit economics is an unproven concept, and has far too many disasters associated to it.
The feature allows users to make, modify, and cancel bookings in 3 simple steps at any given time of the day, even outside of the restaurant’s operating hours. The app also makes bookings stress-free by syncing them with calendars, and sending reminders prior to the booking time.