Zomato’s stock rallied following its Q2 FY25 earnings, revealing a net profit of ₹36 crore compared to a ₹251 crore loss in the same quarter last year. The company saw revenue spike 72% to ₹2,848 crore, driven by significant growth in its quick commerce arm, Blinkit. Blinkit’s contribution-positive status for the first time has transformed […]
In a surprising move, Zomato has officially pulled the plug on its intercity food delivery service, ‘Zomato Legends,’ effective August 22, 2024. This decision comes after two years of attempts to find a viable market fit, which ultimately proved unsuccessful despite various strategic adjustments. Launched in August 2022, Zomato Legends was designed to offer consumers […]
Zomato acquisition of Uber Eats India : Indian food delivery app Zomato has acquired Uber Eats India – the food delivery business of US ride hailing company Uber in India in an all-stock deal. As per the terms of the deal, Uber gets a stake of 9.9% in Zomato for the sale of Uber Eats […]