Zomato

Indian Startup Ecosystem: Challenges & Future Prospects

Indian Startup Ecosystem: Challenges & Future Prospects

India boasts the world’s third-largest startup ecosystem, with a 12-15% growth rate. Did you know that in 2018, India had approximately 50,000 startups across various industrial sectors? Around 8,900 – 9,300 of these were tech startups. Later, in 2019 alone, 1,300 new tech startups emerged, meaning 2-3 tech startups were launched every day! Generally, it…

Zomato Faces Massive ₹9.45 Crore GST Demand Notice

Zomato Faces Massive ₹9.45 Crore GST Demand Notice

As per the BSE exchange filing, on June 30, Karnataka’s Assistant Commissioner of Commercial Taxes issued a GST demand notice to Zomato for Rs. 9.45 crore, including interest and penalty.  The company’s exchange filing mentions, “This is to inform that the company has received an order for FY 2019-20 pursuant to the audit of GST…

Richest Shark In Shark Tank India

Richest Shark In Shark Tank India

Do you watch Shark Tank India? If YES! Who is your favourite shark? Or Who is the richest Shark in Shark Tank India? Following the success of the first two seasons, the third season of Shark Tank India premiered on Sony Entertainment channel on January 22. As the new season unfolds, excitement and TRP for…

Deepinder Goyal Success Story: Founder And CEO Of Zomato

Deepinder Goyal Success Story: Founder And CEO Of Zomato

India is a country where food holds a very special place in the hearts of the people. This is why the food industry in India has always been very big and the person who was able to capitalise on this market was Deepinder Goyal. Deepinder founded Zomato and started delivering individual’s favourite dishes to their…

Zomato Faces ₹402 crore Show Cause Notice Over Unpaid GST

Zomato Faces ₹402 crore Show Cause Notice Over Unpaid GST

The Indian food delivery giant, Zomato, on Wednesday received a show cause notice from the Directorate General of GST over non-payment of GST. The show cause notice was sent to the Gurugram-based food aggregator, demanding the company to answer why they haven’t paid a tax of over ₹402 crore on the food delivery charges along…

Restaurants Raised Discounts To Fend Off Swiggy & Zomato

Restaurants Raised Discounts To Fend Off Swiggy & Zomato

Large restaurants have increased discounts and promotional offers by 15-20% on their own apps to compete with aggregators like Swiggy and Zomato. This step is taken to reduce the steep commission and search optimisation fees being charged by the aggregators and lower the dependence on them, the industry executives said. India’s largest quick-service chain, Domino’s…

Zomato Board Likely To Sign Blinkit Deal Next Week

Zomato Board Likely To Sign Blinkit Deal Next Week

The board members of food tech giant Zomato will meet on June 17 to sign off the acquisition of the quick-commerce platform Blinkit (formally known as Grofers). Before this, in August 2021, Zomato invested around $100 million into Blinkit and revealed its plan to invest a total of $400 million. At that time, Zomato earned…

Zomato Pick Up 16.66% Stake in Mukunda Foods

Zomato Pick Up 16.66% Stake in Mukunda Foods

Zomato board on March 15 picked up a 16.66% stake in Mukunda Foods Private Limited for cash consideration of Rs. 37.5 crore. The acquisition will be made via a subscription of 13,289 convertible preference shares and 10 % equity shares.  Zomato said in a regulatory filing, “We are glad to inform that our board of…

Swiggy Crossed $10.7 Billion Valuation After Raising $700 Million in Invesco

Swiggy Crossed $10.7 Billion Valuation After Raising $700 Million in Invesco

Food delivery giant, Swiggy, has raised $700 million in Invesco and crossed a $10.7 bn valuation, according to the sources.   Swiggy’s latest valuation is almost double to Zomato before the latter went for its initial public offering. Zomato was valued at $5.4 billion before its IPO. With this new funding, Swiggy also came closer to…