What is Zomato , company full details explain
zomato company full details explain
Zomato stands as one of India’s most prominent food technology companies, fundamentally transforming how millions of people discover restaurants and order food. Founded on July 10, 2008, by Deepinder Goyal and Pankaj Chaddah while working at Bain & Company, the platform initially launched as “FoodieBay”. The founders identified a simple yet significant problem: colleagues struggled to access restaurant menus and often waited long periods just to view menu cards. This observation sparked the creation of a digital solution that would eventually revolutionize India’s food delivery ecosystem
The company was formally incorporated on January 18, 2010, as DC Foodiebay Online Services Private Limited. By November 2010, recognizing broader ambitions beyond just food, the founders rebranded to Zomato to avoid potential naming conflicts with eBay and to signal their expanding vision. Deepinder Goyal, an IIT Delhi graduate with a B.Tech degree in Mathematics and Computing (2000-2005), transitioned from his role as Senior Associate Consultant at Bain & Company to lead Zomato full-time in November 2009. His co-founder Pankaj Chaddah accompanied him on this entrepreneurial journey, though Goyal remains the Managing Director and CEO today.
zomato Business Model and Revenue Streams
Zomato operates a multifaceted business model that generates revenue through several strategic channels, creating a robust and diversified income structure. As of FY24, the company reported adjusted revenue of ₹13,545 crores, representing a substantial 50% increase from the previous year.
Food Delivery Commission: The primary revenue driver comes from commissions charged to restaurant partners for food delivery services. Zomato typically charges restaurants 15-25% commission on each order, varying based on location, restaurant type, and partnership agreements. In FY24, the company’s food delivery segment generated ₹7,792 crores in adjusted revenue, growing 27% year-over-year.
Advertising Revenue: Restaurant partners pay for premium placement and promotional visibility on the platform. This advertising monetization has improved significantly, contributing to the company’s overall revenue per order growth.
Platform Fee: Introduced in Q2 FY24, Zomato began charging customers a platform fee for using its services, creating an additional recurring revenue stream.
Delivery Charges: While delivery charges are often subsidized or waived for premium members, the company collects delivery fees from non-member customers, adding to per-order revenue.
Subscription Services (Zomato Gold/Pro): The company operates a premium membership program that has evolved through multiple iterations. Originally launched as Zomato Gold in 2017, it was rebranded to Zomato Pro in 2020, then Pro Plus in 2021, before reverting to Gold in 2023. The current Gold membership offers free delivery on orders over ₹199 within 7 km, extra 30% discount at 20,000+ partner restaurants, and VIP access during rush hours.
Quick Commerce (Blinkit): Following the acquisition of Blinkit in August 2022 for ₹4,447 crores, Zomato entered the rapid grocery delivery segment. Blinkit reported revenues of ₹2,302 crores in FY24, more than doubling from ₹1,064 crores in FY23. The quick commerce segment achieved profitability in adjusted EBITDA starting March 2024.
Going-Out Business (District): The third B2C segment combines dining-out services and event ticketing. In FY24, this segment generated ₹258 crores in revenue (51% year-over-year growth) from a Gross Order Value (GOV) of ₹3,225 crores (136% year-over-year growth). Following the acquisition of Paytm’s entertainment ticketing business, Zomato launched District as a comprehensive platform for movies, events, dining, and shopping experiences.
B2B Supply Chain (Hyperpure): Launched in 2018 after acquiring WOTU, Hyperpure supplies fresh ingredients, vegetables, fruits, dairy, meat, seafood, and packaged goods directly to restaurants, hotels, and caterers. This B2B vertical contributed approximately 25% to Zomato’s revenue in FY23, with revenues growing around 60% year-over-year. Hyperpure serves over 40,000 customers and operates as an end-to-end supply chain solution for the HoReCa (Hotels, Restaurants & Caterers) industry.
zomato Financial Performance and Market Valuation
Zomato’s financial trajectory demonstrates remarkable growth and a path toward sustained profitability. In Q2 FY26 (ended September 30, 2025), the company reported consolidated revenue of ₹13,590 crores, representing a 183.18% year-over-year increase from ₹4,799 crores in Q2 FY25. However, consolidated net profit decreased to ₹65 crores from ₹176 crores in the year-ago period, reflecting investments in expansion initiatives.
The company’s Gross Order Value (GOV) across B2C businesses improved to ₹17,670 crores in Q2 FY25, marking a 55% year-over-year growth (14% quarter-over-quarter). Consolidated Adjusted EBITDA increased by ₹289 crores year-over-year to ₹330 crores in Q2 FY25, driven by margin improvements across all business segments.
As of November 2025, Zomato commands a market capitalization of approximately ₹1.952 trillion (around $29.91 billion), making it the world’s 969th most valuable company. The stock has delivered impressive returns, with 3-year gains of approximately 348%. Current trading metrics show a Price-to-Earnings ratio of 1608.99, Price-to-Book ratio of 10.41, and Price-to-Sales ratio of 9.45.
Initial Public Offering and Listing
Zomato made history as one of India’s most anticipated technology IPOs. The offering opened on July 14, 2021, and closed on July 16, 2021, with the price band set at ₹72-76 per share. The IPO comprised a fresh issue of ₹9,000 crores and an offer for sale of ₹375 crores by Info Edge (India), totaling ₹9,375 crores. The lot size was 195 shares, requiring a minimum investment of ₹14,820.
The company listed on both BSE and NSE on July 23, 2021, with an impressive opening price of ₹116 on NSE, representing a 53% premium over the IPO price. This strong debut reflected investor enthusiasm for India’s burgeoning food-tech sector. Info Edge, which invested ₹4.7 crores in Zomato’s early days, saw its stake valued at around ₹15,000 crores at listing, representing a return of over 1,050 times.
zomato Major Acquisitions and Strategic Expansion
Zomato’s growth strategy has been significantly shaped by strategic acquisitions across multiple geographies and business verticals.
International Expansion (2014-2015): During its aggressive international expansion phase, Zomato acquired several restaurant search platforms to establish global presence. In 2014, it acquired Gastronauci (Poland) and Cibando (Italy). The most significant acquisition came in January 2015 when Zomato purchased Urbanspoon for approximately $52-60 million. This deal marked Zomato’s entry into the United States, Canada, and Australia, while strengthening its position in the UK and New Zealand. The acquisition increased Zomato’s restaurant coverage from 300,000 to over 1 million globally and more than doubled its monthly traffic from 35 million to 80 million visits.
Hyperpure Acquisition (2018): Zomato acquired WOTU (founded in 2015 by a former PayPal executive) and rebranded it as Hyperpure, establishing its B2B supply chain platform.
Feeding India (2019): Zomato acquired Feeding India, a non-profit organization focused on fighting hunger and food wastage. This acquisition aligned with Zomato’s social responsibility objectives while remaining structured as a non-profit entity funded by Zomato.
Blinkit Acquisition (2022): In June 2022, Zomato announced its acquisition of Blinkit (formerly Grofers) for $568.1 million (₹4,447 crores) in an all-stock deal, completed in August 2022. This strategic move provided Zomato instant entry into the fast-growing quick commerce sector. Prior to the acquisition, Zomato had extended a $150 million loan and invested $100 million through convertible notes in Blinkit. Since acquisition, Zomato has infused approximately ₹2,300 crores into Blinkit to fuel its expansion. The decision to acquire rather than build organically was driven by speed and Blinkit’s existing capabilities: integrated technology platform, optimized dark store network, business scale, and third-party relationships.
Paytm Entertainment Ticketing (2024): Zomato acquired Paytm’s entertainment ticketing business to strengthen its Going-Out segment and compete with market leader BookMyShow.
zomato Funding History and Key Investors
Zomato has raised substantial capital across multiple funding rounds, attracting prominent global investors. Early backing came from Info Edge India, which provided more than half of the company’s initial financing, including a $50 million Series F round in 2015.
In 2015, Zomato secured $60 million in funding from investors including Sequoia Capital, raising its valuation to $660 million.
Ant Financial Investment (2018): China’s Ant Financial (Alibaba’s payment affiliate) became a major investor, initially investing $150 million in fresh capital and purchasing $50 million worth of shares from Info Edge in March 2018, bringing total investment to $200 million and valuing Zomato at over $1 billion, officially making it a unicorn. In October 2018, Ant Financial invested an additional $210 million in Series I funding, receiving a 14.7% ownership stake. By 2018-2019, Ant’s total investment reached approximately $400-600 million, with reports suggesting its stake could reach 29%. As of 2021 listing, Ant Group held approximately 16.5% stake valued at around ₹16,268 crores.
Other Major Investors: The investor roster includes Sequoia Capital, Vy Capital, Temasek Holdings, Tiger Global, Glade Brook Capital Partners, and Uber Technologies. Uber became a stakeholder after selling its India food-delivery business (Uber Eats India) to Zomato, receiving approximately 9% stake worth ₹9,000 crores at the time of listing.
Throughout its funding journey, Zomato raised approximately $443.8 million before its IPO.
zomato Market Position and Competition
Zomato maintains a dominant position in India’s food delivery market with a 58% market share as of Q1 FY25, while its primary competitor Swiggy holds 42%. This leadership position has strengthened from 55% in the April-June 2024 period. The company’s higher market share is driven by a larger number of monthly transacting users and stronger presence in Tier 1 cities.
In the quick commerce segment, Zomato’s Blinkit commands a 46% market share in Q1 FY25, followed by Zepto at 29% and Swiggy Instamart at 25%. Blinkit’s market leadership reflects the strategic value of the acquisition and the company’s execution capabilities in rapid delivery.
Zomato’s competitive advantages include extensive restaurant network (over 400,000 restaurants listed as of March 2023), strong brand recognition, established logistics infrastructure, technological capabilities, and diversified revenue streams across food delivery, quick commerce, dining-out, and B2B supply chain.
Geographic Presence and Operations
Zomato operates in over 800 cities across India. Internationally, the company has significantly scaled back from its peak global footprint. At its height around 2016, Zomato claimed to be the number one player in 18 out of 23 countries where it operated. The company had established presence in markets including the United States, Canada, Australia, United Kingdom, United Arab Emirates, Portugal, Philippines, and various Southeast Asian countries.
However, following a strategic reassessment, Zomato liquidated operations in 10 international subsidiaries in countries like Chile, Australia, Portugal, and Vietnam. This consolidation allowed the company to focus resources on its core Indian market and select high-potential international markets in the Middle East.
The company’s headquarters are located in Gurugram (Gurgaon), Haryana, India. Major office locations support operations in Delhi, Bengaluru, Mumbai, Hyderabad, Pune, Kolkata, Chennai, and Lucknow.
Workforce and Organizational Structure
As of March 31, 2024, Zomato employed 8,244 people on its rolls, up from 6,173 in the previous year. Third-party data sources suggest the workforce comprises close to 1,847 corporate employees as of 2025, with an additional 422 new hires year-to-date.
The organizational structure emphasizes several key departments. Sales and Support represents the largest group with approximately 580 employees managing restaurant relations and customer inquiries. Business Management employs nearly 400 staff focused on commercial strategy, while Engineering has over 220 employees driving product development. Operations and Marketing & Product teams together comprise around 420 employees, reflecting focus on logistics and brand engagement.
In October 2024, the company laid off approximately 500-600 junior-level employees from customer service roles hired under the Zomato Associate Accelerator Programme (ZAAP), citing performance issues. This represented the company’s largest workforce reduction in 2024, attributed to slower growth in food delivery and increased automation through AI-powered customer support systems.
zomato Technology and Innovation
Zomato has invested heavily in technology to differentiate its platform and improve operational efficiency.
Artificial Intelligence: The company developed Zomato AI, an in-house AI-powered assistant initially rolled out to Gold members in September 2023. Built using internal LLM Orchestrator Service called Firefly and Vector DB with a self-developed generative AI stack, the tool provides personalized restaurant recommendations, answers questions about dietary preferences, mood-based suggestions, and handles queries like “What should I eat when I’m hungover?” or “Can I eat something that is high protein and low carb?”. The AI features a multiple-agent framework that processes various prompts for different tasks and can dynamically call Zomato functions to retrieve real-time data.
Nugget Platform: In February 2025, Zomato Labs launched Nugget, an AI-powered customer support platform designed to help businesses automate customer interactions without coding. Nugget currently handles 80% of customer queries, managing over 15 million chats monthly without human intervention. Key capabilities include intelligent conversations, AI-powered image classification, automated quality audits, voice AI agents, and agent co-pilot features.
Backend Infrastructure: Zomato utilizes Python and Java as primary programming languages, with Django and Spring Boot components for its backend framework. The technology stack supports delivery route optimization, demand prediction based on time, weather, and user behavior patterns, and dynamic pricing algorithms that adjust platform fees and delivery charges based on real-time conditions.
Social Impact: Feeding India
Zomato’s social responsibility arm, Feeding India, represents a significant commitment to addressing hunger and malnutrition across India. In January 2019, Zomato acquired Feeding India (registered as Hunger Heroes), a non-profit organization, integrating it as a fully-funded subsidiary.
The impact has been substantial. When initially working together in December 2018, Feeding India distributed 78,300 monthly meals to the underprivileged. Within six months of integration, this skyrocketed to over 1.1 million meals per month. The number of cities served expanded from 65 to 82, and Hunger Heroes (volunteers) grew from 8,500 to 21,500.
In response to the COVID-19 pandemic, Feeding India launched the Daily Feeding Program in January 2021 to provide regular meal support to vulnerable families. Under this program, Feeding India has served over 4.3 crore (43 million) meals, working with over 140 NGO partners across 40 cities. As of September 2021, the program was serving one lakh (100,000) meals daily.
Zomato funds the entire salaries of the Feeding India team and core initiatives, while maintaining its non-profit structure. The company developed the ‘Feedi.ng’ app to connect donors and volunteers at scale, with the ambitious goal of serving at least 100 million underprivileged people monthly within a few years.
Sustainability Initiatives and Environmental Commitments
Zomato has established comprehensive environmental policies addressing multiple sustainability dimensions.
Carbon Neutrality: The company committed to achieving carbon-neutral deliveries by offsetting the carbon footprint of food delivery operations. Zomato funds local environmental projects to offset emissions from all deliveries and packaging in India, successfully offsetting approximately 500,000 metric tons of carbon emissions in 2021. Currently, approximately 20% of orders are delivered on bicycles (35% in crowded cities like Delhi), producing zero carbon footprint.
Electric Vehicle Transition: Zomato joined Climate Group’s global electric mobility initiative EV100, committing to convert 100% of its delivery fleet to electric vehicles by 2030.
Plastic Waste Reduction: The company initiated a plastic-free delivery program, making “no cutlery required” the default option on the Zomato app to reduce plastic waste. From April 2022, Zomato introduced 100% plastic-neutral deliveries, meaning the company voluntarily recycles more than 100% of all plastic used in order packaging. The Plastic-Free Future Program recognizes restaurant partners adopting sustainable packaging solutions.
Food Waste Reduction: Zomato employs AI and machine learning to predict demand and optimize supply, helping restaurants manage inventory better and reduce food wastage.
Environmental Policy: The company’s formal Environmental Management Policy outlines commitments to comply with environmental legislation, purchase products and services that minimize environmental damage, minimize waste generation, recycle reusable waste, reduce carbon footprint through reduction and offset initiatives, promote reduction of single-use plastics, and optimize natural resource use.
Challenges and Regulatory Issues
Despite its market leadership, Zomato faces several significant challenges.
Antitrust Investigation: In November 2024, India’s Competition Commission of India (CCI) investigation found that both Zomato and Swiggy breached competition laws. The investigation, initiated in 2022 following a complaint by the National Restaurant Association of India (NRAI), revealed that exclusivity arrangements between the platforms and restaurant partners “prevent the market from becoming more competitive”. The investigation found Zomato offered lower commissions to restaurants that signed exclusive agreements, while both companies engaged in practices favoring select restaurants listed on their platforms. The case is listed as an “internal risk” in Swiggy’s IPO prospectus, noting that “any breach of the provisions of Competition Act may attract substantial monetary penalties”.
Restaurant Partner Tensions: The NRAI has raised multiple concerns including high commission rates (15-25%), anti-competitive practices, private labeling (Zomato’s Bistro and Swiggy’s Snacc brands), and unfair trade practices. Restaurant partners argue these platforms use customer data to launch their own food brands, promote these more prominently than independent restaurants, and reduce visibility for smaller establishments.
Quick Commerce Competition Investigation: India’s biggest group of retail distributors filed an antitrust case against Zomato, Swiggy, and Zepto’s quick commerce businesses for alleged predatory pricing.
Profitability Pressures: Despite achieving profitability in recent quarters, maintaining margins while competing aggressively remains challenging. The company’s Q2 FY26 consolidated profit fell 63.07% year-over-year despite strong revenue growth, reflecting ongoing investments in expansion.
Operational Intensity: Food delivery remains operationally intense with complex logistics, delivery partner management, customer acquisition costs, and competitive pressure on pricing.
zomato Future Strategy and Growth Plans
Zomato’s forward-looking strategy encompasses aggressive expansion across multiple dimensions.
Geographic Expansion: The company plans to increase presence from over 500 cities to 1,000 cities by 2025, entering new markets and deepening penetration in existing ones. The food delivery business targets a 30% annual growth rate over the next five years.
Blinkit Expansion: Originally targeting 2,000 Blinkit stores by late 2026, the company accelerated this timeline to December 2025. Blinkit’s revenue grew 129% year-over-year in Q2 FY25, highlighting the platform’s rapid trajectory. Hyperpure’s supply chain capabilities support this expansion by providing fresh produce directly to Blinkit’s dark stores, enabling 10-minute delivery promises.
District Platform Development: The launch of District as a comprehensive platform for entertainment, dining, movies, events, and shopping experiences represents a significant diversification opportunity. By offering bundled deals (such as movie tickets with restaurant discounts), District can attract new customer segments and increase transaction frequency.
Diversification Beyond Food: Zomato’s 2025 roadmap explores expansion into financial services and deeper integration into consumer lifestyles, reducing reliance on food delivery alone.
Technology Investment: Continued investment in AI-driven personalization, automated operations, and customer experience enhancements will remain central to maintaining competitive advantage.
International Selective Focus: While the company scaled back global operations, it maintains strategic presence in select high-potential markets in the Middle East.
Key Success Factors and Competitive Moats
Several factors underpin Zomato’s market leadership and competitive positioning.
First-Mover Advantage: As one of India’s earliest restaurant discovery platforms, Zomato built strong brand recognition and customer loyalty over 17 years.
Network Effects: With over 400,000 restaurants and millions of daily users, Zomato benefits from powerful two-sided network effects where more restaurants attract more customers and vice versa.
Diversified Revenue Model: Unlike pure-play food delivery competitors, Zomato generates income from multiple streams: delivery commissions, advertising, subscriptions, quick commerce, dining-out, event ticketing, and B2B supply chain.
Technology Infrastructure: Proprietary AI systems, route optimization algorithms, and integrated platforms create operational efficiencies difficult for competitors to replicate.
Supply Chain Integration: Hyperpure’s end-to-end B2B platform creates sticky relationships with restaurant partners while supporting Blinkit’s quick commerce operations.
Brand Trust: Zomato’s established reputation and customer trust translate into higher retention and lower customer acquisition costs compared to newer entrants.
Financial Outlook and Investment Perspective
Analyst projections for Zomato share price vary based on timeframe and methodology. As of early 2025, the share price stands around ₹232-313. Short-term targets for 2025 range from ₹240-277, representing potential gains of 5-15%. Medium-term projections suggest ₹280 for 2026 and ₹300 for 2027. Long-term forecasts extend to ₹380 by 2030 and ₹475 by 2035, reflecting confidence in the company’s diversification strategy and market dominance.
Key metrics support positive outlook: revenue growing 68-183% year-over-year in recent quarters, Blinkit achieving profitability and rapid expansion, B2B segment (Hyperpure) reducing losses and growing revenues, and the company trading above both 25-day and 50-day moving averages indicating bullish momentum.
However, elevated valuations (P/E of 1608.99) suggest the market has priced in significant future growth expectations. Investors should consider ongoing competition intensity, regulatory risks from antitrust investigations, execution challenges in rapid expansion, and the need to maintain profitability while investing heavily in growth.
Conclusion
Zomato has transformed from a simple restaurant listing website into a comprehensive food-tech ecosystem spanning food delivery, quick commerce, dining experiences, entertainment ticketing, and B2B supply chain services. With ₹13,590 crores in quarterly revenue, 58% food delivery market share, 46% quick commerce market share, and operations across 800+ Indian cities, the company stands as India’s dominant food-tech platform.
The strategic acquisitions of Blinkit and Paytm’s entertainment business, combined with organic growth in Hyperpure and District, position Zomato to capture value across multiple high-growth segments of India’s digital economy. Founder and CEO Deepinder Goyal’s vision has evolved from solving a simple menu accessibility problem to building an integrated platform addressing hunger, convenience, entertainment, and restaurant supply chains.
Challenges remain, including antitrust investigations, restaurant partner tensions, intense competition, and the need to balance growth investments with profitability. However, the company’s technology leadership, diversified business model, strong market position, and aggressive expansion plans suggest continued growth potential in India’s rapidly digitalizing consumer economy.
As India’s eating-out frequency increases from an average of 5 times monthly toward the 30 times seen in developed markets like the US and China, and as quick commerce adoption accelerates, Zomato appears well-positioned to capture this secular growth opportunity. The company’s commitment to sustainability, social impact through Feeding India, and continuous innovation in AI and technology further strengthen its long-term competitive moat and brand value.
For investors, entrepreneurs, and industry observers, Zomato represents a case study in successful scaling, strategic pivots, market consolidation, and the building of India’s digital infrastructure for food and lifestyle service