Zomato- your hunger rescue:
There was a time when eating our favorite food require us to go to the restaurants. Now when you are hungry what do you do? Pick up the phone and order the food without actually moving to the restaurants. The higher chances are- the application you used for ordering your food is Zomato, why? Because Zomato is indeed one among the two most dominating companies in food delivery space in India (Swiggy). Zomato has been and is the most widely used food ordering application that attracted many customers with its innovatory strategies. And the brains behind this app is Pankaj Chaddah and Deepinder Goyal. Both these people ruled the food delivering market like a boss. Their small initiative of online food delivery today made them a public hunger rescuer. They even provide you with food delivery even in the mid of a night or in harsh weather. Your one door hunger solution is of course Zomato. Their success story is a must to know about.
Zomato- Success story
Deepinder Goyal and Pankaj Chaddah were the alumni of IIT Delhi and were the employees of Bain & Co in New Delhi. The idea of creating this app struck when they saw a huge que of people waiting in the office to get a flash of a menu card. They created the app called ‘foodiebay’ and loaded soft menu cards on it making is easier for the people to view what they want to eat. Getting a lot of interaction, the duo started to expand the business. They expanded their business from Delhi to Mumbai and Kolkata. Foodiebay was a huge hit there as well and a lot of people were using the application to meet their hunger needs. In 2010, the success of ‘foodiebay’ inspired the founders to now take their business to international level and thus they upgraded the application as ‘Zomato’- a space where one can order food without any boundaries. The founder of the notable job search engine Naukri.com- Sanjeev Bikhchandani was fascinated by Zomato, and he started to invest in the project. In 2010, he invested US$ 1 million in the company. With the help of his funds, Zomato was built as an application for benefit of the customers and to meet the users need. In 2011, the same investor invested huge fund of US$ 3.5 million and following the next year they received their major funding of US$10 million from Info Edge. With the rounds of investments, Zomato first launched a Magazine of the content of the website in collaboration with Citibank, named “Citibank Zomato Restaurant Guide”. Zomato works as a hotspot which helps connect people to their desired restaurants. For this the company had tied knots with almost every food restaurant to provide best food delivery options. The restaurants are benefited as they get the payment of ordered food and in return they provide Zomato with a little margin of the profit. Zomato is extremely beneficial for these restaurants because it provides them with their own delivery persons. Thus acting as a chain to link the customer to the restaurant without disturbing their locations. Apart from this, their income mostly generates from restaurant advertising, event advertisement, event ticket sale and consulting services. The 24*7 services provided- acts as an incentive for people who use Zomato. Zomato has made easy for their customers to pay for the charges digitally by launching cashless transaction. But what Zomato as a whole is? ‘Zomato’ is an online restaurant discovery guide providing information on home delivery and dining-out. It provides you to the limitless food options. One thing which captures the interaction is that, it offers food at extremely reasonable rates. Today they cover, 106 cities across 13 countries with an approximate user base of 62.5 million and a base of 255,700 restaurants on their portal- it is everywhere! Indian online market has many food apps like foodpanda or Ubereats but the sole competitor of Zomato is only Swiggy-which is also an Indian startup. The competitors for the race of number one are only these two.
The success story of Zomato is a lot interesting as the founders never thought of owning such a big online space before creating foodiebay. Their sole aim was only to help their colleagues. Before Zomato there was no name such as online food delivery in India. The founders were not afraid of doing something out of the blue and in 2008, India was introduced with this new space of limitless possibilities.