Successful Story of Zomatoby FuGenX Technologies Mobile application developer India
In our daily life, food plays a very crucial role.It’s our first need!
This success story is related to Food. How a person can find a business opportunity on food?
Yes, we are talking about Zomato- an online restaurant discovery website and mobile app founded in 2008 by Deepinder Goyal and Pankaj Chaddah. Presently Zomato provide its services across 10,000+ cities and 23 countries around the globe with more than 2000+ employees. It is headquartered in New Delhi, India. Its monthly user visits are around 19 million, which tells its success.
CEO Goyal says “my mornings are usually reserved for discussing the entire strategy with the team, including issues like legal issues, competitor moves, content acquisition, marketing, enhancement and sustainability”.
Story behind Zomato
It all started in Delhi, in the cafeteria of Bain & Company, a prestigious consultancy in Delhi, where Deepender and Pankaj worked. They saw people standing in a queue and look at the menu for the food they have to order during the lunch time. From there they got an idea of “Foodiebay” which became a prologue to make them successful Entrepreneurs.
Firstly, the founders of Zomato started scanning the all the menu items in the restaurant and listed it on an intranet website, after seeing a huge traffic to the site, they decided to launch their site publicly in the year 2008. After launching the website, they started listing restaurants in Delhi NCR, and quickly extended to Kolkata and then Mumbai.
On November 2010, Foodiebay changed its name to Zomato. The reason behind changing its name was to extend it beyond the food sector and also to avoid possible confusion with the brand “ebay”, which sounds similar to “Foodiebay”.
Zomato’s Products and Services
In the starting, Zomato only focused on the restaurant searching and discovery. But now they are spreading their business with many other services including Table Reservations, Online Ordering, POS systems and Cashless payments.
Acquisition by Zomato
In 2015, Zomato acquired MaplePOS and renamed it to Zomato Base. MaplePOS is a cloud-based point of sale product for restaurants. It provides merchants features such as inventory, cloud-based menu, recipe management, real time analytics, and electronic receipts, etc. It also has a built-in payment option to accept debit and credit card payments.
NexTable, a US-based table reservation and restaurant management platform, is another major acquisition by Zomato.
To get a huge startup force to their company, Zomato raised funds of around US$ 1 million from Info Edge. After their continuous success in the market, they again raised fund of US$ 3.5million from the same investor in September 2011.
Till now, the Info Edge funded $25.4 million in the Zomato and it also holds a 50.1% stake in the company. Vy Capital and Sequoia Capital are other major investors who’ve invested in Zomato.
The Zomato users’ number got tremendously increased in 2011 when the company introduced its app (ZomatoApp) across all major mobile platforms like iOS, Android, Windows Phone and BlackBerry. As of January 2015, there were millions of users accessing Zomato actively through mobile devices from around the world.
Looking to develop Zomato like App?
If you are looking to develop Zomato like app for your company, we’ll definitely help you. FuGenX Technologies is one of the fastest growing mobile apps development company new york, USA and India. We have an experienced mobile app development team to deliver result-oriented mobile app and we believe in developing quality apps that can meet the expectations of our customers.
We have developed successful apps for clients from across the globe, from India to Indonesia, USA to UK and Dubai to Australia. We have developed many high performing Apps and Games like BigBasket, BYJU’s, Vodafone Circles Chat and many more that are generating the big amount of revenue for our clients. That’s why we have been recognized as a premiere iPad and iPhone apps development companies Atlanta, as well as Android apps development companies new york.
Created on Dec 31st 1969 18:00. Viewed 0 times.