Zomato has expanded its restaurant reviews and listing feature to 25 new cities in India. These cities include – Trivandrum, Vijayawada, Raipur, Madurai, Jodhpur, Thrissur, Ajmer, Manali, Alappuzha, Gorakhpur, Ooty, Kota, Manipal, Dharamshala, Jammu, Haridwar, Jalandhar, Rishikesh, Mussoorie, Udupi, Cuttack, Shimla, Palakkad, Pushkar and Srinagar.
With this, Zomato lists restaurants across 63 cities in India. Zomato’s food delivery business, however, is currently live in 17 of these cities in India. Oytun Calapover, Global Head of Zomato’s Listings Busines said that India is the ‘highest priority’ market for the company and the company will continue to launch its offerings in multiple new cities every month. Globally, Zomato is present in 24 countries and gets traffic of 50 million users monthly. In India, it claims that it gets 19 million users monthly.
Zomato raised $150 million from Alibaba’s Ant Financial in February. Over and above this, Ant Financial bought another 6.66% stake (around 32,629 shares) of Zomato from Info Edge for $50 million, taking the total expenditure for Ant Financial in this deal to $200 million. Zomato had reported revenues of Rs 481 crore ($74 million) for the financial year 2018 (FY18). While the company did reveal profit or loss numbers, it said that operating cash burn for the year fell to $11 million from last year’s $15 million and that it hit EBITDA break-even globally across all our business.