Online food ordering and restaurant guide Zomato has announced that it is now profitable in its high priority markets: India, Philippines, Indonesia and UAE, Lebanon and Qatar in the Middle East. In a press statement, Deepinder Goyal, founder & CEO of Zomato, said, “.. We have more than doubled our revenue year-on-year for the last few years, and we are going to post some great growth numbers this year as well,” echoing the sentiments of Sanjeev Bikhchandani from InfoEdge’s analysts call in December. India operations broke even in 2013 Note that the company had broken even in India in July 2013, when it was operational in 14 cities in India. At the same time, InfoEdge said that Zomato and Meritnation had combined sales of Rs 8 crore, but lost only Rs 6.4 crores at EBITDA level. In the same article, MediaNama had correctly predicted that Zomato may get into online food ordering after listing restaurants under clusters of ‘home delivery, meals, drinks or catching up with friends’. Then, the company was vocal about not launching an online home delivery service but ended up biting a piece of the pie with a new food ordering app called Order in May 2015. Profits will be used for experiments As of now, the company will channelise the profits to grow in countries where it sees competition, and use it for experiments and initiatives in India and outside of it, according to Pankaj Chaddah, co-founder of Zomato. The company added that its daily orders…
