• About
  • Contact
Saturday, March 6, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home New posts

Zomato Raises $150 Mn Funding From Ant Financial, Valuing It At $3 Bn

Pritish raj by Pritish raj
January 10, 2020
in New posts
2 min read
0
Zomato Revenue Employees Advertising Business- Next Big Brand

Zomato Business- Next Big Brand

Share on FacebookShare on Twitter
  • Zomato raised $150 million funding from established investor Ant Financial, said people familiar with the issue, valuing the $3 billion site for online food delivery and restaurant discovery.

Zomato raised $150 million funding from established investor Ant Financial, said people familiar with the issue, valuing the $3 billion site for online food delivery and restaurant discovery. The capital is part of a funding round of more than $500 million that is likely to close in the next two months, another person in the know said.

Ant Financial, a Chinese internet affiliate behemoth Alibaba, has been supporting Zomato since it acquired a 14.7 percent stake in 2018. It followed the regulatory filings showed up by rising its holding to 23 percent in November of the same year.

The new investment comes at a time when Uber’s ride-hailing app is looking to potentially invest in Zomato and sell its UberEats food supply business in

The stock-swap deal, estimated at $300 million, may go through in the near future if all terms are decided, sources said, but it is not certain whether Uber will continue with the investment. ET first reported on December 16 last year about Uber’s potential investment in Zomato.

Since selling its UAE delivery business to Berlin-based Delivery Hero for $172 million (Rs 1,220 crore) and raising $105 million separately, Zomato was last estimated at $2 billion when it picked up capital last year. The food supply aggregator has faced protests from restaurant groups, including India’s National Restaurant Association, to force deep discounts.

The latest funding will help build ammunition for the Gurugram-based company as it fights a bruising war to fend off the Swiggy competitor. In December 2017, Swiggy last raised $1 trillion led by existing Naspers backer, along with China’s Tencent, Hillhouse Capital, and Wellington Management.

Over the past year, Zomato has more than halved its cash burn from $45 million to less than $20 million a month in an attempt to increase its runway. Swiggy also started focusing on sustainable unit economics at the end of last year and introduced programs to minimize cash burn, which was estimated at about $30 million, suggesting that the sector was heading towards better economics.

According to regulatory filings, Zomato reported revenue of Rs 1,397 crore on a loss of Rs.1,001 crores for FY19. Much of the losses were linked to ads and promotions.

The trading arm of diversified financial services firm HSBC raised the valuation of Zomato to $3.6 billion last year after taking stock of its publicly traded shareholder InfoEdge, which owns 26 percent on the recommendation site for restaurants. HSBC said the business of Zomato had fundamentally changed in a detailed report on Info-Edge, with food delivery now contributing about 70 percent to total revenue.

“Given the scope of its recent expansion and the need for further funding, we value Zomato on a discounted cash flow basis, at $3.6 billion (at a marginal 9% premium to its competitor Swiggy as of the latest round of funding) versus $0.9 billion earlier due to the change in business focus,” the report noted.

Previous Post

iPhone Turns 13, Apple Is Real Close Hitting 2 bn iPhone Sales

Next Post

Airtel Wi-Fi Calling Records More One Million Subcribers

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Tesla Dethrones Facebook to Become 5th Largest Among S&P 500.
New posts

Tesla to Set Up Manufacturing Unit in Karnataka, Says CM Yediyurappa

February 15, 2021
Cure.fit Acquires Fitternity to Expend its Cult.fit’s Offline Operations
New posts

Cure.fit Acquires Fitternity to Expend its Cult.fit’s Offline Operations

February 9, 2021
Jeff Bezos and Elon Musk Increased their Net Worth by $217 Billion in Pandemic Year
New posts

Jeff Bezos and Elon Musk Increased their Net Worth by $217 Billion in Pandemic Year

January 4, 2021
Bewakoof: Entrepreneurship Journey of two IITians to Leading Quirky Fashion Apparels
Case Study

Bewakoof: Entrepreneurship Journey of two IITians to Leading Quirky Fashion Apparels

December 28, 2020
How Ed-Tech Startups Took benefit of Pandemic
Case Study

How Ed-Tech Startups Took benefit of Pandemic

December 25, 2020
Postman: Journey of a Side Project to the Leading API Platform
Case Study

Postman: Journey of a Side Project to the Leading API Platform

December 24, 2020
Next Post
Bharti Airtel FDI Wi-Fi Calling- Next Big Brand

Airtel Wi-Fi Calling Records More One Million Subcribers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Ferrari Strongest Brand- Next Big Brand

Ferrari Is the Strongest Brand In World, Disney Is 2nd: Brand Finance

1 year ago
google flights

Google offers Flight and Hotel Features that let people enjoy budget-friendly vacations

2 years ago
y combinator

Y-Combinator To Now Host Interviews In Bangalore Too

2 years ago
Amazon-Fresh-Logo-nextbigbrand-in

Amazon brings online grocery store Amazon Fresh to India

2 years ago

FOLLOW US

  • 28.9k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Divya Gokulnath: Women Power Behind the Success of Byju’s
  • Vineeta Singh: an IIM Alumnus who Turned Down 1 Crore Job Offer for Startup Journey
  • Walmart owned Flipkart Eyes IPO through SPAC Route

Instagram

Follow Me!

Latest News

Divya Gokulnath: Women Power Behind the Success of Byju’s

Divya Gokulnath: Women Power Behind the Success of Byju’s

March 6, 2021
Vineeta Singh-CEO of SUGAR: NBB

Vineeta Singh: an IIM Alumnus who Turned Down 1 Crore Job Offer for Startup Journey

March 5, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.