Indian meals supply startup Zomato on Wednesday filed for an preliminary public providing, changing into the primary tech unicorn startup from the world’s second largest web market to take action.
The 12-year-old Gurgaon-headquartered Indian startup, which counts Data Edge and Ant Group amongst its traders, plans to boost $1.1 billion from the IPO, it said in the filing.
Some key insights shared by Zomato within the filling:
- Zomato has claimed market main place within the meals supply market.
- The startup recognized Prosus Ventures-backed Swiggy (which is in talks to raise capital from SoftBank Vision Fund 2), in addition to restraunts resembling Domino’s, McDonald’s and Pizza hut as its competitor. (However not Amazon, which entered the food delivery market last year.)
- The startup clocked $183.6 million in income between April 1 and December 31. Its losses throughout this era had been $91.8 million.
- The startup stated it has a historical past of internet losses, and it anticipates will increase bills sooner or later.
- Data Edge, one of many largest investor of Zomato, plans to promote stake value $100 million, the funding agency stated in a submitting.
- Zomato has recognized “altering regulation in India,” skill to boost international capital, and “political adjustments” amongst over a dozen danger elements.
- The startup, which employs 3,469 folks throughout the globe as of December 31, plans to develop its Zomato Professional membership providing, which permits prospects to avail extra advantages, deepen its relationship with restaurant companions within the foreseeable future.
- Zomato says by third quarter final yr, going by the metric GOV (gross order worth), the startup had recovered from the Covid disaster. However a few of its enterprise traces together with dining-out enterprise is “nonetheless recovering as prospects proceed to be reluctant to dine-out as a precautionary measure.”
- As of December 2020, the startup had 161,637 energetic supply companions, 350,174 energetic restaurant listings on the platform, of which 132,769 eating places had been additionally those that actively delivered to prospects.
- Zomato’s promoting and gross sales promotion bills as p.c of its whole earnings:
- Zomato says it has improved the unit economics of meals supply enterprise lately.
- Zomato has raised over $2.2 billion, in accordance with analysis agency Tracxn. The startup is valued at $5.4 billion. The startup final yr acquired Uber Eats’ India business, and as a part of the deal gave the American ride-hailing agency 9.9% stake in Zomato. Its present checklist of shareholders, assuming not less than 1% of the enterprise, stands as following:
This can be a growing story. Extra to observe…