Zomato: Simple Idea Became a Food Empire – Here’s How

Hey there! So, you’re curious about Zomato? Let’s dive into the incredible journey of how Zomato transformed into a major player in the food tech scene!

Humble Beginning: 

The founders of the zomato are Deepinder Goyal and Pankaj Chaddah. They are both ex-Bain & Company employees. In the year 2008, their initial idea was “Foodiebay” which was started in Delhi. It was a platform that offered restaurant menus and reviews. Their goal was straightforward make it easier for people to discover restaurants online. Unfortunately, this startup failed as the biggest challenge faced by them was there were only a few platforms that offered detailed reviews or menus. Also finding restaurant information online in India was clumsy.  

Rebranding & Expansion (2010-2012):

In 2010, the company “Foodiebay” changed its name to Zomato to show its growing desire and energy. Zomato started to expand itself from Delhi to other major cities in India. It offered users customer-generated reviews and ratings, making it a more interactive communal platform. Zomato set its international footprint by 2012 when it expanded itself internationally where it entered the markets of the UAE, Sri Lanka, and the UK. 

Twirling to Food Delivery (2015):

They observed the increasing demand for food delivered at home, and Zomato quickly swirled into a food delivery service platform such as Zomato Order. This move created a boom in success in the food delivery sector especially in the urban sector. Zomato started to compete with other major players like Swiggy and Uber Eats.

How did they do it?:

Through strategic acquisitions & diversification in the years 2015 to 2017, They started to acquire various small related food tech startups which also included UrbanSpoon (US) and Menu Mania (Australia), this was the strategic move to assert its position in global markets. To keep customers recurring, offer multiple features like table reservations, online grocery delivery, and digital payment solutions for restaurants.

The IPO (2021):

A huge milestone for Zomato was created when it went public in 2021 by public offering (IPO) on the Bombay Stock Exchange. This decision was a huge success as it saw a strong demand for the investors which made Zomato a publicly traded company and further gained its empire status. 

Today Zomato operates in 24 countries which includes UAE and Sri Lanka. Today it has over 70 million active users. Their future goal is to invest in sustainability and food waste reduction. 

Conclusion:

Zomato’s journey is such an inspiring and commendable story that reflects the patience, adaptability, innovation and strategic decisions that helped to become the Zomato we see today.  

Started as a simple idea and has become an multi-million dollar company.