Meals supply platform Zomato on Thursday introduced the discontinuation of its intercity meals supply service ‘Legends.’ The service, which allowed customers to order iconic dishes from 10 cities throughout the nation, was initially suspended in April this yr and relaunched in July with a revised mannequin targeted on delivering pre-stocked gadgets from different cities with a shorter supply timeline. Following the shutdown, Zomato will proceed to function its meals supply service solely inside cities.
In a put up on X, CEO Deepinder Goyal mentioned, “Replace on Zomato Legends – after two years of attempting, not discovering product market match, we’ve determined to close down the service with speedy impact.” The closure of ‘Zomato Legends’ comes a day after the corporate revealed its plans to accumulate Paytm’s film and occasions ticketing companies for Rs 2,034 crore, marking Zomato’s entry into the leisure ticketing sector. The acquisition, authorised by Zomato’s board on August 21, is anticipated to enrich its present eating and meals supply providers.
Zomato swings to revenue with sturdy development
Zomato reported a consolidated web revenue of Rs 175 crore for the quarter ending March 31, a big turnaround from the Rs 189 crore loss it posted in the identical interval final yr, as per experiences. The corporate’s income from operations surged to Rs 3,562 crore in This autumn FY24, up from Rs 2,056 crore within the corresponding quarter of the earlier yr. Moreover, Zomato’s fast commerce enterprise, Blinkit, turned adjusted EBITDA constructive in March 2024. The corporate additionally reported a 28 per cent development within the gross order worth (GOV) of its mainstay meals supply enterprise and a exceptional 97 per cent enhance in Blinkit’s GOV in the course of the quarter.
Money supply steadiness to accounts
Earlier this month, CEO Deepinder Goyal mentioned Zomato clients can now ask for the steadiness quantity, if any, of money on supply orders to be added to their ‘Zomato Cash’ account, and utilise it for putting future orders or eating out. He thanked Tata Group agency BigBasket for the inspiration behind the answer. The web meals supply agency introduced a big enhance in its consolidated web revenue final week, reaching Rs 253 crore for the quarter ended June 2024, from Rs 2 crore throughout the identical interval final yr.
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