Page 8 - Online Food Delivery

Zomato collected Rs 83 crore in platform fee from customers till March

Food delivery aggregator Zomato, which began charging platform fee on orders from last August, collected Rs 83 crore through the new levy till March, the company's annual report has revealed. Platform fee has been cited as one of the three key factors driving Zomato's Adjusted Revenue, which grew 27 per cent year-on-year to Rs 7,792 crore in FY24. "Adjusted Revenue as a percentage of GOV (gross order value), continued to increase primarily due to increase in restaurant commission take-rates, improvement in ad monetization and introduction of platform fee from Q2FY24 onwards," the report stated. All of these factors more than compensated for the reduction in customer delivery charge per order due to the free delivery benefit available on Gold orders, it added. Interestingly, most late night orders in the last fiscal year came from Delhi NCR, while most breakfast orders came from Bengaluru, Zomato shared in the report. The food delivery aggregator began levying platform fee at Rs 2

Magicpin to invest Rs 100 cr to onboard new food delivery partners on ONDC

Hyperlocal e-commerce firm magicpin plans to invest Rs 100 crore over the next three months to onboard over 1 lakh new restaurants and cloud kitchens on the government-backed e-commerce platform ONDC, the company said on Sunday. magicpin will invest funds towards offering onboarding incentives like zero commission, zero onboarding fees, and free home delivery, among others, for customers by newly partnered restaurants. "Our goal is to provide a risk-free entry to promote the participation of food merchants and restaurants in the digital economy by eliminating entry barriers such as high commissions and onboarding fees, and committing Rs 100 crore towards this initiative," magicpin CXO - Enterprise Brands Naman Mawandia said. magicpin is one of the leading seller apps on ONDC. Its food tech vertical competes with food delivery apps like Swiggy and Zomato. "We aim to not only accelerate the adoption of online food delivery among diverse restaurant partners, thereby benefiting the ...

Zomato rolls out 'Brand Packs' to reward repeat orders from restaurants

Zomato's new 'Brand Packs' feature aims to boost customer loyalty for more than 4,000 restaurants on the food delivery platform

Viral video: Ola delivery partner caught red-handed eating consumer's food

A Noida-based entrepreneur shared that an Ola food delivery partner demanded an extra Rs 10 to deliver the order and then kept him waiting for almost 45 minutes

Zomato, Swiggy to deliver alcohol soon?

Your favourite food delivery platforms like Swiggy, BigBasket, and Zomato might soon start delivering alcohol! Yes. Watch the video to know more.

Swiggy, Zomato increase platform fee to Rs 6 per order for revenue boost

Initially introduced in Bengaluru and Delhi, the fee implemented by Swiggy and Zomato is distinct from delivery charges, GST, restaurant fees, and other expenses associated with orders

One plate of momos cost Zomato Rs 60,000 in Karnataka: Here's why

On August 31, 2023, Sheethal had placed an order for momos via Zomato, paying Rs 133.25 but she alleged that she never received the momos nor did a delivery agent visit her home

In a first, Swiggy launches 'Eatlists' feature to share food recommendation

Swiggy's 'Eatlists' feature will allow food enthusiasts to compile and share their favourite dishes directly within the Swiggy app

Zomato shuts down hyperlocal delivery platform 'Xtreme' amid poor demand

Despite its strategic launch, 'Xtreme' failed to gain traction, leading Zomato to remove it from the Google Play Store

CLSA says Zomato is growing faster than Swiggy, sees 25% upside

In terms of revenue, Swiggy's Y-o-Y growth of 24 per cent also fell short of Zomato's adjusted revenue growth of 55.9 per cent Y-o-Y

Strong growth metrics gives food aggregator Zomato an edge over Swiggy

Zomato's existing live event business -- Zomato Live -- is currently posting a revenue run-rate of Rs 350-400 crore

What is Zomato's daily order count? Company's new feature spills the beans

Zomato CEO Deepinder Goyal took to social media platform 'X' where he shared the update, revealing that over 250,000 orders were already placed by the time it was 11 am

Baron Capital boosts food delivery firm Swiggy valuation to $15.1 billion

The food delivery firm's investors have been consecutively marking up the company's valuation over the last year as it gears up for an IPO this year

Uber's India tech team powers Uber Eats to 1 million merchants globally

Uber said this milestone marks a significant step in Uber Eats' journey, while also underscoring the role of the India engineering support centres in the growth and evolution of the business

In the blink of an eye: Zomato-owned firm Blinkit's quick turnaround

Looking at the numbers revealed as part of Zomato's results, Blinkit is working out better than "just fine". It turned operationally profitable in March, and there is more

Zomato Q4 result: PAT Rs 175cr; fourth consecutive quarter of profit

Quick commerce GOV growth outpaces food delivery business

Zomato seeks approval from shareholders for creation of new ESOP pool

The company said that under the ESOP 2024, it will grant shares of 18.26 crore to the employees of the company

Why the failed delivery of Rs 187 ice cream, cost Swiggy more than Rs 5,000

The customer sought Rs 10,000 as compensation and an additional Rs 7,500 in litigation expenses from Swiggy for its failure to deliver the ice cream and subsequent refusal of a refund

Blinkit more valuable than Zomato's food delivery business: Goldman Sachs

Initially viewed as a daring rescue mission, Zomato's acquisition of Blinkit in 2022 rattled investors, causing a 20 per cent dip in Zomato's share prices

Food delivery firm Zomato gets Rs 11.82 crore GST related tax demand notice

Online food delivery platform Zomato has received a tax demand and penalty order of Rs 11.82 crore related to GST on export services provided to its subsidiaries located outside India from July 2017 to March 2021. The order was passed by the Additional Commissioner, Central Goods and Services Tax, Gurugram, raising the GST demand of Rs 5,90,94,889, with applicable interest (not quantified) and penalty of Rs 5,90,94,889. "We believe that we have a strong case on merits, and the company will be filing an appeal against the order before the appropriate authority," Zomato stated in a regulatory filing late evening on Friday. It informed that the demand order has been received, "confirming demand of GST on export services provided by the company to its subsidiaries located outside India during the period July 2017 to March 2021 by upholding that such services do not fulfil the conditions for the supply to qualify as export of service under GST". "The company, in its response to the show