Startup Story of Zomato – Zomato is a brand that needs an introduction. This is one of the most popular brands and startups of the country. Zomato is an app that not only the digital users but everyone knows about.
The company that started from the metro cities of the country has now established itself in most of the cities, small towns, and developing cities of the country. Also, Zomato has been launched in various other countries and has made a very strong presence worldwide. Deepinder Goyal and Pankaj Chaddah are the founders of Zomato.
They founded this startup in 2008. It is basically a restaurant search, discovery, and a food delivery app. Both these founders are IIT Delhi alumni. They worked for Bain & Co in New Delhi.
Startup Story of Zomato
The idea of starting their business popped into their minds when they along with their colleagues were standing in the queue constantly everyday in their office for food. People used to stand in the line for hours to just get the menu card.
This is when the idea of Foodie Bay came in their minds. They created a platform where the soft copies of the menu card were displayed and the people started to browse the menu through their phones. By offering this service, the startup became really popular and they started getting amazing feedback.
The brand then wanted to reach the International level because of which they changed their brand name to Zomato which was easy to remember and also it eliminated the similarity with the word eBay. In 2010, they renamed FoodieBay as Zomato.
Post this, they created a mobile app so that it becomes easy for their users. Amongst the first few investors, the CEO of naukri.com was the one. In 2010, he invested up to US$ 1 million through Info Edge (India). The funding and the investment kept increasing every year with the addition of new fundraising companies and investors like Sequoia Capital, Vy Capital, and Temasek.
Startup Story of Zomato – The founders say the success of the Zomato app is primarily the selection of the good people to work in the Zomato team. Their biggest hurdle was to cover all the areas in the pivotal cities so that people who trust their platform do not miss out on a good restaurant from their app.
This is a constant hurdle for the team as they keep moving to new cities. But, they feel like every other city in which they have established themselves, they can move ahead to the other cities too.
Startup Story of Zomato
Initially, the company did not focus on earning money but they focused more on getting popularity and getting more people on board as users on their platform.
Since, the app has so many loyal customers who put up their reviews, check other’s reviews, check hotels and recommendations on the app, the restaurants run ads on their platform and through this the app gets huge revenue. They have also launched cashless transactions because of which the customers got real time help.
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