Zomato to forgo commission from restaurants on food orders

Restaurant discovery and food ordering platform Zomato Media Pvt. Ltd, which is in talks to raise fresh capital, said it will forgo commissions charged to restaurants on food orders as it is generating cash in its core advertising business to fund new initiatives, including food ordering. The move by Zomato comes as the company pushes hard to catch up with arch rival Swiggy (Bundl Technologies Pvt. Ltd), the largest food ordering platform in India. Zomato also said it is now a “profitable” company. A Zomato spokesperson said the company was…

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Zomato to forgo commission from restaurants on food orders

Bengaluru: Restaurant discovery and food ordering platform Zomato Media Pvt. Ltd, which is in talks to raise fresh capital, said it will forgo commissions charged to restaurants on food orders as it is generating cash in its core advertising business to fund new initiatives, including food ordering. The move by Zomato comes as the company pushes hard to catch up with arch rival Swiggy (Bundl Technologies Pvt. Ltd), the largest food ordering platform in India. Zomato also said it is now a “profitable” company. A Zomato spokesperson said the company was…

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Will Alibaba’s planned investment in Zomato disrupt the food-tech space?

Online restaurant finder and food delivery platform Zomato may receive a whopping $200 million (Rs 1,283 crore) from Chinese e-tailing behemoth Alibaba, media reports said. Mint and The Economic Times, cited unnamed people saying that Zomato will be valued at $800 million-$1 billion for this round of funding by Alibaba’s payments arm Ant Financial Services Group, or Alipay. Email queries to Alibaba did not elicit any response, while a Zomato spokesperson told VCCircle that the company “does not comment on rumours and speculations”. Zomato has been in the market to raise…

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