Zomato IPO Review - Unit Economics, Growth Potential, Key Risks: ICICI Direct
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ICICI Direct Report
Zomato is one of the leading food service platforms in India in terms of value of food sold as of March 31, 2021.
It was initially launched as “DC Foodiebay Online Services Pvt.” in January 2010. During FY21, 3.21 crore average monthly active users visited the platform. It is currently present in 525 cities in India with 389,932 active restaurant listings. It also has footprint across 23 countries outside India.
Over the past 12 years, it has grown from food discovery platform to a food service platform with four major segments:
Food delivery (B2C) - The company is a leader as per RedSeer.
Dining out (B2C) – Provides tools for restaurant owners to acquire customers.
Hyperpure (B2B) – Started in 2019, it provides ingredients and kitchen products to restaurant partners.
Zomato Pro – It is a paid membership programme which unlocks flat percentage discounts for its customers.
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