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Zomato reports revenue of Rs 481 crore in FY18

Online food delivery company Zomato touched about Rs 481 crore (US $74 million) in revenues for financial year 2018 (FY18), CEO Deepinder Goyal said in a blog post. While Goyal did not reveal profit or loss numbers, he said that operating cash burn for the year fell to $11 million from last year’s $15 million. The company hit EBITDA break-even globally across all our business, and Goyal maintained that the business can be profitable. In FY18, food ordering brought in nearly 30% of Zomato’s revenue, with the share increasing from close to 18% in FY17. In March 2018, food delivery in India grew by 48% in terms of order volume over the previous month and revenue-wise by 55%. Its food ordering service is functional in 15 Indian cities and 5 cities in the Middle East. In terms of usage, the company said it had nearly 5.5 million monthly food orders in March 2018. Subscription-based Zomato Gold and Zomato Treats programme together had have over 280,000 active user subscribers. Zomato Gold, which was launched in November 2017, currently contributes nearly 12% to Zomato’s monthly revenue. In MediaNama’s previous coverage of the new service, Nikhil pointed out that one reason for the sharp growth is the fact that Zomato is offering 1 month extra to users for each referral they get, and anyone who signs up with a referral code gets 25% off. Zomato had recently announced that it has an annualized revenue run rate of $100 million. The annualised revenue run rate is…

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