India’s biggest food startup and food delivery company, Zomato, reported that it has earned back the original investment in a few major markets – including India – and will hit profit by mid-2016. When it does as such, Zomato will be the first Indian e-business unicorn to become profitable, a critical point of reference in a business sector where Indian new companies are discovering it very difficult to bait investors for resulting rounds since none of them are near productivity.
The Gurgaon, New Delhi-based Zomato is estimated at just over $1 billion and its sponsor incorporate Sequoia Capital, Singapore government’s Temasek Holdings and Indian e commerce player, Info Edge. Deepinder Goyal, 33, originator and CEO of Zomato said that they weren’t bothering with subsidizing to keep the lights on. The company with the tagline, “Never have a bad meal” is becoming a overnight surprise in the startup industry. The startup is getting ready to raise another round of financing, about $200 million, in April to grow its food delivery services. Investors like China’s Baidu are apparently taking a look at Zomato.