India orders Zomato to pay $95 mln in taxes, fines in latest setback

India’s tax department has ordered Zomato to pay 8.04 billion rupees ($94.8 million) in taxes and fines for non-payment of certain taxes from 2019 to 2022, the food delivery platform said on Thursday. The order directs Zomato to pay 4.02 billion rupees in outstanding taxes and an identical amount as penalty, which totals to more … Read more

Zomato approves a significant QIP raise

Along with it’s Q2 FY 25 results,. Zomato’s board has approved a QIP raise. QIP is for Rs 8,500 cr Raise is to strengthen the balance sheet As per Company – “While the business is now generating cash (vis-a-vis a loss making business at the time of IPO), the company believes that it needs to … Read more

Zomato shuts ‘Legends’

Reshuffling of businesses continue at Zomato. After announcing the purchase of Paytm’s ticketing business, the Company has now shut down inter-city delivery service ‘Legends’ The service was suspended in April this year and was relaunched in July. The Company then had tweaked the model to deliver pre-stocked items from other cities with a shorter delivery … Read more

Zomato launches Xtreme

Zomato has launched intra-city parcel delivery app Xtreme the service will allow merchants to send and receive small parcels within the city packages can weigh up to 10 kgs with the price starting at Rs 35 aim is to leverage Zomato’s existing fleet of 3lakh+ riders for additional revenue it will compete with Swiggy’s Genie, … Read more

Blinkit’s revised delivery executive pay structure faces protest

Earlier this month, Zomato owned Blinkit announced a revised pay structure for it’s delivery executives. Previously, they were being paid a fixed Rs 25 per delivery and peak-hour incentive of Rs 7 per trip It has now been revised to a minimum of Rs 15 per trip with a distance-based component This led to the … Read more

Zomato brings back Gold. Tussle with restaurants restarts.

Zomato Gold is a periodic subscription based membership, whereby the subscribing customers get significant discounts and free deliveries from the member restaurants. Initially, it was mainly available on offline eating. However, later Zomato extended it to deliveries and that’s when member restaurants put up a significant protest because of which the scheme was altogether stopped … Read more

One more Co-founder resigns at Zomato

Trend of Co-founders and Key Employee resignations continue at Zomato. Mr. Gunjan Patidar, Co-founder and Chief Technology Officer (CTO) at the Company has now tendered his resignation. Gunjan was one of the initial employees of the Company. He had joined in 2008 and built the core tech system of Zomato. Despite being the CTO, he … Read more

Zomato’s co-founder resigns. High profile exits continue.

Mohit Gupta, the co-founder at Zomato for last 4 and half years has resigned. Reason for Mohit’s exit – no clarity Where is he going – no one knows Is Zomato concerned – atleast not publicly. They didn’t even designate him as a Key Managerial Person (check the company disclosure in the source link). This … Read more