As Zomato prepares to go public next year, from last year’s financing round, the Indian food delivery startup has raised $660 million.
As a group of companies like Tiger Global, D1 Capital, Kora, Fidelity (FMR), Luxor, Mirae participated in the Series J round, which gave $3.9 billion to Zomato as a post-money valuation. Before this, Zomato disclosed a fundraise of approximately $212 million in the Series J round from Tiger Global, Ant Financial, Temasek, and Baillie Gifford.
The co-founder and chief executive of Zomato, Deepinder Goyal, has said that the company is about to close a $140 million secondary transaction. “As a part of this transaction, we have already provided liquidity worth $30m to our ex-employees”, he had tweeted.
Due to several obstacles including the current pandemic, the closing of $600 million that was anticipated to happen this January has got delayed. Apart from this, Ant Financial, which was committed to investing $150 million in this round, delivered just a third of it, as disclosed earlier this year by Info Edge- Zomato’s investor.
The company, which had acquired Uber’s food delivery business in India now competes with Swiggy backed by Prosus Ventures. As a third player, though it just offers food delivery service only in some parts of Bangalore, Amazon has emerged in the market.
According to analysts at Bernstein, though India’s food delivery market is at stake now, it is projected to reach $12 billion by 2022. Among the three players, Zomato leads the market with 50% of its share, they had written.
The Gurgaon- headquartered startup has eliminated hundreds of jobs this year to navigate the pandemic and to improve its finances that were significantly hurt. Goyal said that the food delivery market is rapidly worming its way out of the decline; the highest ever GMV month is expected to be December 2020. And that the market is growing ~25% higher GMV than the previous peaks seen in February 2020. He also added, “I am supremely excited about what lies ahead and the impact that we will create for our customers, delivery partners, and restaurant partners.”
As we can see the growth plan, we can still see the light at the end of the tunnel. Though there were proceedings that were stalled due to COVID-19, it had aggravated the growth of the Zomato app, thereby making it the leader of the market.
Key things to be learned:
There are some crucial things that you, as a business owner, can learn from this trending food delivery platform to achieve success:
Identify your target audience:
For any app to make it successful, the first step is to create a household name for itself among its users. But it is only possible if you set out on a mission to identify which set of users you want to attract and the locality. Try to target the food-loving users and look for regions where your competitors are yet to set foot.
Choose a USP:
Another vital consideration from the app is its USP or Unique Selling Proposition. In this case, Zomato is distinct from other food delivery apps because of the equal preferences the app gives its users. Availability of whole menus for almost every restaurant.
Developing a Zomato Clone app:
Developing an app like Zomato is not an easy deal if you are entering the industry anew. But in this fast-paced world, choices are not a thing to be searched for. There are many ways in which an app like Zomato can be developed. So choose the best-suited development solution after analyzing your resources.
Developing a Zomato Clone
As a conventional technique for creating an app, this technique takes an ample amount of time, effort, and budget, as you will have to approach either freelance developers or hire a team of proficient developers yourself. You must mention your specifications, ideas and then start to build the app. It is a highly challenging technique for some budding entrepreneurs.
Opting for Clone apps:
Even for emerging entrepreneurs, this is a more uncomplicated technique, as there would be no requirement for you to hire any team. You could launch a delivery app in a concise amount of time by purchasing the Zomato Clone script. These scripts would be provided to you by app development companies.
As an entrepreneur, you can make a choice in integrating and adding the features and other additional plug-ins, add-ons, etc. From this, you would have understood that they are customizable. Not just that, but unlike conventional app development, these are time-conserving, highly scalable, and readily integrable.
As a final thought,
Every business has both perks and cons. But in the end, we have to look at how it grows after its decline. So, now that you have identified the specialty of Zomato get your foot set into the Zomato Clone app development now. Please make yourself available in the food delivery industry easily with the cutting-edge clone app solution developed by our Appdupe to launch an avant-garde Zomato Clone app now.
At AppDupe, we know that our customers are Entrepreneurs and keeping them succeeding is what will make us stronger. So, we promise you, Life Time Updates free of charge. Yes, we know that Apple and Google keep coming out with new versions of their mobile OS's and other companies we clone from also keep updating their features and UX to stay up-to-date. We will take care of that for you, leaving you to do what you do best, Win!
Is this legal?
PicMix and PicYou are almost exact clones of Instagram. MyCityDeal and Wimdu are clones of Groupon and AirBnB respectively. The only thing companies can patent is methodology for achieving an action or leading to an end point. If you can figure out another way to do that, without infringing on other's IP, you totally can. We could, so we did.
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