{"id":18096,"date":"2016-05-25T17:40:31","date_gmt":"2016-05-25T12:10:31","guid":{"rendered":"http:\/\/www.officechai.com\/?p=18096"},"modified":"2016-05-25T17:40:31","modified_gmt":"2016-05-25T12:10:31","slug":"zomato-losses-2016","status":"publish","type":"post","link":"https:\/\/officechai.com\/news\/zomato-losses-2016\/","title":{"rendered":"Zomato’s Losses More Than Treble To Rs. 492 Crore In 2016"},"content":{"rendered":"

2016 might’ve been a seminal year for Zomato as it entered the food ordering business, but the move has come with a price. The company’s losses have more than\u00a0trebled<\/a><\/span> to Rs. 492 crore for the year ending March 2016. For the same period last year, its losses were Rs. 136 crore.<\/span><\/p>\n

\"zomato-logo\"<\/span><\/p>\n

Zomato’s revenues, however, haven’t kept pace with its losses. Its operating revenues managed to double from Rs. 96 crore last year to Rs. 184 crore in 2016.<\/span><\/p>\n

Earlier this month, Zomato CEO Deepinder Goyal had claimed “they are profitable in the order business at a unit economics level, and the overall online ordering business will hit profitability when they hit an average of 40,000 orders a day”.\u00a0In February, Zomato had claimed to have achieved operational break even in six countries including India, the UAE, Lebanon, Qatar, the Philippines and Indonesia.\u00a0<\/span><\/p>\n

Less than 3 weeks ago, HSBC had slashed Zomato’s valuation by half. It had valued the company at $500 million, which was significantly lower than the $1 billion valuation it had raised money at last year.<\/span><\/p>\n

Zomato’s has\u00a0had a tough few months in the recent past, having let go of 10% of its staff \u00a0in late 2015 and having to pull out of its food ordering business in 4 cities. The entire food tech sector has been beset with uncertainty this year. Foodpanda has laid off<\/a> 300 employees, and rival TinyOwl has shut its operations in all cities other than Mumbai.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

2016 might’ve been a seminal year for Zomato as it entered the food ordering business, but the move has come with a price. The company’s losses have more than trebled to Rs. 492 crore for the year ending March 2016. <\/p>\n","protected":false},"author":2,"featured_media":11654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[202,254],"tags":[86],"class_list":["post-18096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-startups","tag-zomato"],"yoast_head":"\nZomato's Losses More Than Treble To Rs. 492 Crore In 2016<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officechai.com\/news\/zomato-losses-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zomato's Losses More Than Treble To Rs. 492 Crore In 2016\" \/>\n<meta property=\"og:description\" content=\"2016 might've been a seminal year for Zomato as it entered the food ordering business, but the move has come with a price. The company's losses have more than trebled to Rs. 492 crore for the year ending March 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/officechai.com\/news\/zomato-losses-2016\/\" \/>\n<meta property=\"og:site_name\" content=\"OfficeChai\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/OfficeChai\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-25T12:10:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2015\/09\/zomato-logo.jpg?fit=736%2C490&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"736\" \/>\n\t<meta property=\"og:image:height\" content=\"490\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bart Eshwar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@OfficeChai\" \/>\n<meta name=\"twitter:site\" content=\"@OfficeChai\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bart Eshwar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/officechai.com\/news\/zomato-losses-2016\/\",\"url\":\"https:\/\/officechai.com\/news\/zomato-losses-2016\/\",\"name\":\"Zomato's Losses More Than Treble To Rs. 492 Crore In 2016\",\"isPartOf\":{\"@id\":\"https:\/\/officechai.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/officechai.com\/news\/zomato-losses-2016\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/officechai.com\/news\/zomato-losses-2016\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2015\/09\/zomato-logo.jpg?fit=736%2C490&ssl=1\",\"datePublished\":\"2016-05-25T12:10:31+00:00\",\"author\":{\"@id\":\"https:\/\/officechai.com\/#\/schema\/person\/b33bbc9cd71f8bebf290a266692ec380\"},\"breadcrumb\":{\"@id\":\"https:\/\/officechai.com\/news\/zomato-losses-2016\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/officechai.com\/news\/zomato-losses-2016\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/officechai.com\/news\/zomato-losses-2016\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2015\/09\/zomato-logo.jpg?fit=736%2C490&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2015\/09\/zomato-logo.jpg?fit=736%2C490&ssl=1\",\"width\":736,\"height\":490},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/officechai.com\/news\/zomato-losses-2016\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/officechai.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Zomato’s Losses More Than Treble To Rs. 492 Crore In 2016\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/officechai.com\/#website\",\"url\":\"https:\/\/officechai.com\/\",\"name\":\"OfficeChai\",\"description\":\"Startups, Businesses And Careers\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/officechai.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/officechai.com\/#\/schema\/person\/b33bbc9cd71f8bebf290a266692ec380\",\"name\":\"Bart Eshwar\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/officechai.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f48cf0b2f17ca1ae00050bdf99bd011f9d3cada36ebd57303af1626cb336ff5e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f48cf0b2f17ca1ae00050bdf99bd011f9d3cada36ebd57303af1626cb336ff5e?s=96&d=mm&r=g\",\"caption\":\"Bart Eshwar\"},\"description\":\"Bart Eshwar is interested in startups, business and green tea. 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