Zomato clocked in 60% and 35% higher gross merchandise value (GMV) on New Year's Eve and Christmas in 2020 respectively, compared to the previous year, CEO Deepinder Goyal said on Twitter. The food delivery company took a financial hit when the COVID-19 pandemic struck, stalling orders and leading to layoffs and salary cuts. As people continue to stay indoors, December 31 saw GMV of ₹75 crore, with orders per minute peaking at 4,254. The demand was "much higher than we could process" and delivery capacity ran out much before peak time, Goyal said, adding that GMV would have touched ₹100 crore if supply would have been enough. On Christmas, Goyal had estimated a 50% higher GMV on New Year's Eve compared to last year. People outside of India were placing orders to be delivered in India, Goyal said. On December 31, there were 2,500 orders per minute as of 6:15 pm, hitting 3,200 in another 40 minutes, and 3,500 in another 40 minutes, and 4,100 just before 8:30 pm At little past 7 pm, there were 100,000 live orders, increasing to 140,000 orders an hour late At 8 pm, there were 20,000 biryanis and 16,000 pizzas in transit; over 2,700 biryani orders were dispatched for delivery in five minutes Just before the year closed, Zomato raised US $660 million (over ₹4,850 crore) in funding from new and existing investors. "The tailwinds for food delivery businesses are clearly visible, and we believe that the growth of the sector will accelerate post…
- Misinformation Combat Alliance and Meta partner on fact-checking helpline on WhatsApp February 22, 2024
- Uniform KYC norms and measures to tackle fake loan apps discussed at Financial Stability Council meeting February 22, 2024
- Apple’s iMessage can now resist attacks by quantum computers February 22, 2024
- India Opens Up Space Sector to 100% foreign direct investment February 22, 2024
- Kerala HC Halts Order for WhatsApp Traceability Amid Privacy Concerns February 22, 2024
Given that Apple itself admits that no threat is currently posed by quantum computing, this move might seem like too much too soon, but...
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...
The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...