Page 16 - Zomato

Can live events become the next big growth driver for Swiggy, Zomato?

Swiggy eyes expansion in India's booming Rs 10,400 crore live events market, while Zomato has also entered the live events market through its recent acquisition of Paytm Insider

Zomato co-founder Akriti Chopra resigns to pursue other interests

Online food ordering and delivery platform Zomato on Friday said its co-founder and Chief People Officer Akriti Chopra has resigned to pursue other interests. Designated as senior management personnel, Chopra has tendered her resignation, with effect from September 27, 2024, Zomato said in a regulatory filing. She has been with the company for 13 years and played a key role in setting up and scaling Zomato's legal and finance teams in her previous role as CFO. Before joining Zomato, she worked with PwC for three years in the tax and regulatory practice. In January last year, another Zomato co-founder and its then chief technology officer Gunjan Patidar resigned after over a decade stint in the company. Before that in November 2022, another co-founder Mohit Gupta had resigned. Gupta was elevated to co-founder level in 2020 from the position of CEO of its food delivery business.

Swiggy's quick commerce arm Instamart outpaces food delivery biz growth

The quick commerce vertical's GOV is already at 40 per cent of food delivery GOV, despite being launched six years later

Swiggy's recipe for success: DRHP reveals key ingredients ahead of IPO

As investors await further details for this buzzing IPO, here are some of the key details related to Swiggy, as outlined in the DRHP papers

Zomato share price falls 4% after Swiggy files IPO DRHP with Sebi

Swiggy's IPO move had investors buzzing about the competitive landscape in the food delivery market as Zomato's scrip slipped up to 3.64 per cent to an intraday low of Rs 273.50 per share.

Diljit Dosanjh concert ticket row: Zomato Live serves notice on Viagogo

BookMyShow files police complaint

Zomato receives fresh GST demand, penalty order amounting to Rs 17.7 cr

Online food delivery aggregator Zomato on Wednesday said it has received a GST demand order along with interest and penalty amounting to Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal. The demand order, received by the company on Tuesday, is with respect to non- payment of GST on delivery charges and interest, penalty thereon. "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 said in a regulatory filing. The order is for the period April 2021 to March 2022 passed by Assistant Commissioner of Revenue, Government of West Bengal confirming demand of GST of Rs 11,12,79,712 with interest of Rs 5,46,81,021 and penalty of Rs 1,11,27,971. "The Company in its response to the show cause notice had clarified on the issue along with relevant documents and judicial precedents, which appears to not have been appreciated by the authorities while passing the order," Zomato ...

Zomato bans AI-generated images from food menus to preserve authenticity

Effective from Monday (September 16), restaurants that fail to comply with the new rule against AI images will be removed from Zomato

Cost of convenience: Restaurants list higher prices in online menus

Consumers are generally paying more while ordering food from online platforms and apps compared to eating at the same restaurant from which they order online

Zomato teams up with IRCTC to offer food delivery service on trains

This collaboration aims to transform train journeys, enabling passengers to enjoy a variety of dishes from the comfort of their train seats

Zomato rallies 5% to hit record high; stock has zoomed 127% so far this yr

Last week, JP Morgan maintained an overweight rating on Zomato, with a target price of Rs 340 per share.

Swiggy's IPO plan includes Rs 5,000 cr fresh issue, exceeding initial aim

The planned amount exceeds the initial Rs 3,750 crore the company had aimed to raise, in addition to a Rs 6,664 crore offer for sale

Zomato surges 8% on heavy volumes after 13% fall from record high in Aug

The average trading volumes on the counter jumped over two-fold, with a combined 83.99 million equity shares changing hands on the NSE and BSE till 10:40 AM.

Coffee Day, Barbeque-Nation: No long queues yet to buy restaurant stocks

Thus far in 2024, stocks such as Coffee Day Enterprises, Speciality Restaurants, Barbeque-Nation Hospitality, Restaurant Brands Asia and Westlife Foodworld have lost up to 42%, shows ACE Equity data.

Zomato gets GST tax demand notices over Rs 4.59 cr from TN, WB authorities

Online food delivery platform Zomato has received GST tax demand orders of over Rs 4.59 crore, including applicable interest and penalty, from Tamil Nadu and West Bengal authorities. The company said it plans to appeal against the demand orders passed by the Assistant Commissioner of GST and Central Excise, Nungambakkam Division, Tamil Nadu and Assistant Commissioner of Revenue, Government of West Bengal. The Tamil Nadu tax authority passed an Adjudication Order under Section 73 of the Central Goods and Services Tax Act, 2017, and Tamil Nadu Goods and Services Tax Act, 2017, for GST of Rs 81,16,518, with applicable interest (not quantified) and penalty of Rs 8,21,290. Meanwhile, the West Bengal authority passed an adjudication order under Section 73 of the Central Goods and Services Tax Act, 2017, and West Bengal Goods and Services Tax Act, 2017 for GST of Rs 1,92,43,792 with interest of Rs 1,58,12,070 and a penalty of Rs 19,24,379. In a regulatory filing, Zomato said it has clarif

Deepinder Goyal launches Zomato for employers to ease corporate food orders

Zomato CEO Deepinder Goyal announced that this feature would streamline the management of company food expenses and simplify the reimbursement process provided by companies

Zomato completes acquisition of Paytm's entertainment ticketing biz

The new business will be spun off into a separate going-out app, District, in the coming few weeks

Bachchan family office joins quick commerce frenzy with Swiggy stake

Swiggy deals in online food delivery and quick grocery delivery services segment. The development comes amid heightened investor interest in the industry, due to high demand for such services

Food delivery platform Zomato eyes a new 'District' with third super brand

In this regard, Zomato's strategy differs greatly from that of its unlisted rival, Swiggy, who is trying to integrate all of its offerings under one 'super app'

Food delivery giant Swiggy targets $15 billion valuation in India IPO

One of the sources said Swiggy aimed to use IPO proceeds to expand its quick commerce Instamart business and open more warehouses to better compete with Zomato