Categories: Tech & Society

Zomato about to enter Brazil and will then fly towards UAE

 

After entering UK, South Africa and New Zealand, Zomato.com will soon make foray into Brazil.

Zomato is backed by Info Edge (India) Ltd, which runs various businesses including the recruitment site Naukri.com and other classifieds such as matrimonial site Jeevansathi.com and real estate portal 99acres.com. Info Edge’s quarterly results for the period ending June 30, 2013, revealed that Zomato reached break-even in the Indian market.

CEO, Deepinder Goyal said that the next market closest to break-even is the UAE. “The UAE market reached break-even a couple of times, but then we invested more in it. The Indian market is now stable and the UAE should get there pretty soon,” he added.

Asked if the company is now looking at alternative revenue streams or focusing on new features on the site, Goyal said they are content with the primary revenue channel, which is advertisement. “We are not looking at any other revenue channel. For now, our focus is geographical expansion and adding more cities to our portal,” he said.

Earlier this year, Info Edge put in Rs 55 crore ($10.07 million) more in Zomato. That infusion of funds took Info Edge’s total investment into Zomato to Rs 86.06 crore and its holding has risen to 57.9 per cent (from 48.5 per cent), making it the majority shareholder in the company now. Prior to the latest round, Zomato had raised Rs 31 crore in three rounds of external funding from Info Edge – the first round in August 2010, the second in September 2011 and the third in September 2012.

Via: TechCircle

 

 

Team TechPanda

Recent Posts

With India’s tech sector on track to surpass $300 billion, what’s next for AI in the country? 

The first quarter of 2025 saw incredible growth from India’s tech sector. In fact, industry…

9 hours ago

The role of AI in redefining the future of corporate gifting

Business gifting has been around for a long time as a gesture of appreciation, goodwill,…

18 hours ago

DeepSource’s new autonomous AI agents promise to scan, fix code security vulnerabilities

As artificial intelligence (AI) continues to progress exponentially, the future of industries like software engineering…

4 days ago

Retail’s Return Rate Crisis: The Urgent Need for Proactive Solutions

The average return rate in eCommerce is estimated at 17.6% for 2024. Nearly 1 in 5 products…

4 days ago

AI Launches: Cybersecurity, AI Agents, product specs, business operating system, automobile, consumer & MSME lending, cloud, data streaming

The Tech Panda takes a look at recent launches in the superfast field of Artificial…

6 days ago

As India’s tech sector on track to surpass $300 billion, CEO of Ness shares insights into AI’s important role 

The tech sector in India has been going from strength to strength in recent years.…

6 days ago