<p>India's Directorate General of GST Intelligence (DGGI) has issued demand notices to leading food delivery platforms Zomato and Swiggy, alleging non-payment of GST on delivery fees collected from consumers, CNBC-TV18 reported on Wednesday.</p>

<p>The notice, worth over 750 crore rupees ($90 million), comes after the Pune zone of DGGI initiated an investigation into the period from July 2017 to March 2023. The DGGI contends that, as food delivery is a service, Zomato and Swiggy are liable to pay GST at an 18 per cent rate, the report said. &nbsp;</p>

<p>The industry, however, has a different perspective. It considers Zomato and Swiggy as platforms that hire gig workers on a per-delivery basis. According to the industry, since each gig worker falls below the 20 lakh rupees threshold, they are exempt from GST. Currently, food delivery platforms are required to pay 5 per cent GST on food orders. Besides the food bill, they also collect charges for delivery, which are passed on to gig workers.</p>

<p>Experts anticipate that both Zomato and Swiggy will contest the demand. An ideal solution suggested for the GST Council is to make a prospective change, mandating food platforms to pay GST on these charges (similar to the food bill) at 5 per cent. However, the decision is pending. The lack of clarity on this issue has led to confusion and litigation in various cases.</p>

<p>Speaking to CNBC-TV18, Saurabh Agarwal, a partner at EY, emphasised the ongoing debate on the taxation of delivery charges and the need for clear guidelines from the GST Council. Industry experts hope for clarity, given similar views by authorities in other cases, leading to confusion and litigation. The real question at hand is whether the service is considered to be provided directly by the platform or by the delivery personnel.</p>

<p>The tax authorities' contention that food delivery platforms are required to pay GST on these charges has sparked debate, with experts highlighting the potential impact on the cash flow of these platforms. Clarity and guidelines from the GST Council are deemed essential to address the ongoing controversy surrounding the taxation of delivery charges.</p>

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India's Directorate General of GST Intelligence (DGGI) has issued demand notices to leading food delivery platforms Zomato and Swiggy, alleging non-payment of GST on delivery fees collected from consumers, CNBC-TV18 reported on Wednesday.

India's Directorate General of GST Intelligence (DGGI) has issued demand notices to leading food delivery platforms Zomato and Swiggy, alleging non-payment of GST on delivery fees collected from consumers, CNBC-TV18 reported on Wednesday. The notice, worth over 750 crore rupees ($90 million), comes after the Pune zone of DGGI initiated an investigation into the period from July 2017 to March 2023. The DGGI contends that, as food delivery is a service, Zomato and Swiggy are liable to pay GST at an 18 per cent rate, the report said. The industry, however, has a different perspective. It considers Zomato and Swiggy as platforms that hire gig workers on a per-delivery basis. According to the industry, since each gig worker falls below the 20 lakh rupees threshold, they are exempt from GST. Currently, food delivery platforms are required to pay 5 per cent GST on food orders. Besides the food bill, they also collect charges for delivery, which are passed on to gig workers. Experts anticipate that both Zomato and Swiggy will contest the demand. An ideal solution suggested for the GST Council is to make a prospective change, mandating food platforms to pay GST on these charges (similar to the food bill) at 5 per cent. However, the decision is pending. The lack of clarity on this issue has led to confusion and litigation in various cases. Speaking to CNBC-TV18, Saurabh Agarwal, a partner at EY, emphasised the ongoing debate on the taxation of delivery charges and the need for clear guidelines from the GST Council. Industry experts hope for clarity, given similar views by authorities in other cases, leading to confusion and litigation. The real question at hand is whether the service is considered to be provided directly by the platform or by the delivery personnel. The tax authorities' contention that food delivery platforms are required to pay GST on these charges has sparked debate, with experts highlighting the potential impact on the cash flow of these platforms. Clarity and guidelines from the GST Council are deemed essential to address the ongoing controversy surrounding the taxation of delivery charges. WATCH WION LIVE HERE

Zomato, Swiggy hit with GST demand notice, face tax troubles: Report  

<p>Zomato’s stock increased by almost 2 per cent during trading on the National Stock Exchange (NSE) on September 18, reaching a 52-week high of Rs 105 ($1.26), Moneycontrol reported. However, compared to its previous rate, the stock closed 0.87 per cent lower at Rs 102.05 ($1.23) per share.</p>

<p>This increase was ascribed to investors' rising trust in the business, which was sparked by Zomato's transparency in proving revenue growth and margin expansion.</p>

<p>In a Jefferies research, the majority of investors praised CFO Akshant Goyal for keeping his word during the company's US roadshow. In the report, Jefferies noted that while scepticism was strong at the time, presently, it is the opposite.</p>

<p>Zomato CFO anticipates a 20 to 25 per cent growth in the value of its meal delivery service and a staggering 60 per cent CAGR for its brand-new rapid commerce venture. Given that restaurants only account for 10 per cent of India's food consumption, food delivery has a "vast growth runway." By providing restaurants with local insights that increase food diversity and stimulate local demand, Zomato is facilitating growth, according to Jefferies.</p>

<p>However, in India's enormous retail market, Zomato's rapid commerce may grow even more than food delivery.</p>

<p>Additionally, Jefferies anticipates a gradual increase in food margins to 5 per cent, with rapid commerce likely to reach break-even in four quarters.</p>

<p>With only 20 million monthly active users at present, according to Jefferies, who rates Zomato as a "buy" with a target price of Rs 130 ($1.56), Zomato has a significant amount of room to develop both its user base and its revenue. However, it says that this can compromise short-term financial success. After its IPO, the company, changed its emphasis from survival to being prepared for the future, according to the report.</p>

<p>Zomato shares were trading at Rs 104.10 ($1.25) as of 11:24 a.m. The share price has increased by 96 per cent during the past six months.</p>

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Zomato’s stock increased by almost 2 per cent during trading on the National Stock Exchange (NSE) on September 18, reaching a 52-week high of Rs 105 ($1.26), Moneycontrol reported.

Zomato’s stock increased by almost 2 per cent during trading on the National Stock Exchange (NSE) on September 18, reaching a 52-week high of Rs 105 ($1.26), Moneycontrol reported. However, compared to its previous rate, the stock closed 0.87 per cent lower at Rs 102.05 ($1.23) per share. This increase was ascribed to investors' rising trust in the business, which was sparked by Zomato's transparency in proving revenue growth and margin expansion. In a Jefferies research, the majority of investors praised CFO Akshant Goyal for keeping his word during the company's US roadshow. In the report, Jefferies noted that while scepticism was strong at the time, presently, it is the opposite. Zomato CFO anticipates a 20 to 25 per cent growth in the value of its meal delivery service and a staggering 60 per cent CAGR for its brand-new rapid commerce venture. Given that restaurants only account for 10 per cent of India's food consumption, food delivery has a "vast growth runway." By providing restaurants with local insights that increase food diversity and stimulate local demand, Zomato is facilitating growth, according to Jefferies. However, in India's enormous retail market, Zomato's rapid commerce may grow even more than food delivery. Additionally, Jefferies anticipates a gradual increase in food margins to 5 per cent, with rapid commerce likely to reach break-even in four quarters. With only 20 million monthly active users at present, according to Jefferies, who rates Zomato as a "buy" with a target price of Rs 130 ($1.56), Zomato has a significant amount of room to develop both its user base and its revenue. However, it says that this can compromise short-term financial success. After its IPO, the company, changed its emphasis from survival to being prepared for the future, according to the report. Zomato shares were trading at Rs 104.10 ($1.25) as of 11:24 a.m. The share price has increased by 96 per cent during the past six months. WATCH WION LIVE HERE

Investors laud Zomato for keeping its word as stock price drives to a 52-week high

<p>After surpassing profitability goals ahead of schedule, Zomato, one of India’s top food delivery platforms, continues to inspire investor confidence, Moneycontrol reported.</p>

<p>The company’s exceptional performance is highlighted in a report published by&nbsp;private wealth management company, Bernstein, which provides financial advice to&nbsp;investors. The report points to elements like increased contribution margins and strong execution as major contributors towards Zomato's&nbsp;achievements.</p>

<p>&nbsp;In addition to boosting investor confidence, this success has switched the emphasis from Gross Merchandise Value (GMV) to profitability as the key value criterion.</p>

<p>As per the report, Zomato has succeeded in achieving Consolidated Adjusted Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) break-even three quarters earlier than its original plan, and did so in Q1FY24 rather than the originally anticipated Q4FY24.</p>

<p>This&nbsp;is due to a steady rise in contribution margins over the last six quarters, which are currently 6.4 per cent of Gross Order Value (GOV). The long-term prediction in the report is for contribution margins of 8 to 9 per cent and an adjusted EBITDA margin of 5 per cent. At Rs 11600 crore ($ 1.39 billion), Zomato’s financial position is quite strong.</p>

<p>With a Gross Order Value (GOV) growth of 11 per cent quarter-over-quarter in Q1FY24, the food delivery segment has showcased significant momentum. Over the next three years, the research predicts a sustainable compound annual growth rate (CAGR) of 24 per cent, driven primarily by the addition of new monthly transactional customers and elevated order frequency.</p>

<p>According to analysts, Zomato is in a good position to maintain food delivery growth, along with ongoing increases in contribution margins. Tiger Global and Softbank have recently sold stakes, attracting long-term investors with a focus on profitability and earnings.</p>

<p>The research also emphasises on the progress made towards Zomato’s Quick Commerce division, particularly Blinkit. With the management expecting an adjusted EBITDA break-even within the next four quarters, Blinkit has achieved a break-even contribution margin.</p>

<p>With a considerable decrease in contribution margin percentage losses (0.6 per cent compared to 2.7 per cent in the prior quarter), Blinkit’s Gross Order Value is anticipated to increase by more than 20 per cent quarter over quarter. Blinkit is valued on the same basis in relation to the food delivery industry by Bernstein.</p>

<p>According to these indicators, Bernstein is optimistic about Zomato’s chances moving forward. They have increased the target price (TP) to Rs 120 ($1.45), which would indicate a 20 per cent increase, while maintaining an “Outperform” rating on Zomato. The anticipated EV/Adjusted EBITDA for FY25 is now 35 times the company’s current market value.</p>

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After surpassing profitability goals ahead of schedule, Zomato, one of India’s top food delivery platforms, continues to inspire investor confidence, Moneycontrol reported.

After surpassing profitability goals ahead of schedule, Zomato, one of India’s top food delivery platforms, continues to inspire investor confidence, Moneycontrol reported. The company’s exceptional performance is highlighted in a report published by private wealth management company, Bernstein, which provides financial advice to investors. The report points to elements like increased contribution margins and strong execution as major contributors towards Zomato's achievements. In addition to boosting investor confidence, this success has switched the emphasis from Gross Merchandise Value (GMV) to profitability as the key value criterion. As per the report, Zomato has succeeded in achieving Consolidated Adjusted Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) break-even three quarters earlier than its original plan, and did so in Q1FY24 rather than the originally anticipated Q4FY24. This is due to a steady rise in contribution margins over the last six quarters, which are currently 6.4 per cent of Gross Order Value (GOV). The long-term prediction in the report is for contribution margins of 8 to 9 per cent and an adjusted EBITDA margin of 5 per cent. At Rs 11600 crore ($ 1.39 billion), Zomato’s financial position is quite strong. With a Gross Order Value (GOV) growth of 11 per cent quarter-over-quarter in Q1FY24, the food delivery segment has showcased significant momentum. Over the next three years, the research predicts a sustainable compound annual growth rate (CAGR) of 24 per cent, driven primarily by the addition of new monthly transactional customers and elevated order frequency. According to analysts, Zomato is in a good position to maintain food delivery growth, along with ongoing increases in contribution margins. Tiger Global and Softbank have recently sold stakes, attracting long-term investors with a focus on profitability and earnings. The research also emphasises on the progress made towards Zomato’s Quick Commerce division, particularly Blinkit. With the management expecting an adjusted EBITDA break-even within the next four quarters, Blinkit has achieved a break-even contribution margin. With a considerable decrease in contribution margin percentage losses (0.6 per cent compared to 2.7 per cent in the prior quarter), Blinkit’s Gross Order Value is anticipated to increase by more than 20 per cent quarter over quarter. Blinkit is valued on the same basis in relation to the food delivery industry by Bernstein. According to these indicators, Bernstein is optimistic about Zomato’s chances moving forward. They have increased the target price (TP) to Rs 120 ($1.45), which would indicate a 20 per cent increase, while maintaining an “Outperform” rating on Zomato. The anticipated EV/Adjusted EBITDA for FY25 is now 35 times the company’s current market value. WATCH WION LIVE HERE

Zomato’s profitability leap inspires investor confidence; Bernstein rates company as “outperform” 

<p>SoftBank Vision Growth Fund has sold 10 crore shares of the online food delivery app Zomato through a block auction on Tuesday, August 29. The total transaction value is Rs 940 crore ($113 million), and shares were sold for Rs 94 ($1.14) each, according to a report by CNBC-TV18.</p>

<p>As compensation for selling its holding to Zomato last year, SoftBank received a 3.35 percent stake in the company, which it now owns. Zomato acquired the fast-grocery delivery startup Blinkit at the time. The lock-in period for investors after the Blinkit deal ended on August 25.</p>

<p>According to the bulk deals data made available on the Bombay Stock Exchnage (BSE)and the National Stock Exchange (NSE), Tiger Global Management, another significant foreign investor in Zomato, sold all of its stake amounting to 1.44 per cent for Rs 1,123.85 crore ($135 million).</p>

<p>The venture capital fund operated by the US-based investment manager, Internet Fund III Pte Ltd, sold the shares through open market transactions.</p>

<p>As per stock exchange records, US-based private equity fund Tiger Global also sold its final shares of Zomato on Monday.</p>

<p>Data from BSE indicates that, the private equity firm sold 123.5 million shares in bulk for Rs 91.01 ($1.10) each, with buyers including Morgan Stanley Asia Singapore, Kotak Mahindra Mutual Fund, Societe Generale, and BNP Paribas Arbitrage Fund.</p>

<p>Tiger Global made its initial Zomato investment in 2020 and acquired Zomato shares as part of the Blinkit transaction last year. In August 2022, the private equity group reduced its ownership in Zomato.</p>

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SoftBank Vision Growth Fund has sold 10 crore shares of the online food delivery app Zomato through a block auction on Tuesday, August 29. The total transaction value is Rs 940 crore ($113 million), and shares were sold for Rs 94 ($1.

SoftBank Vision Growth Fund has sold 10 crore shares of the online food delivery app Zomato through a block auction on Tuesday, August 29. The total transaction value is Rs 940 crore ($113 million), and shares were sold for Rs 94 ($1.14) each, according to a report by CNBC-TV18. As compensation for selling its holding to Zomato last year, SoftBank received a 3.35 percent stake in the company, which it now owns. Zomato acquired the fast-grocery delivery startup Blinkit at the time. The lock-in period for investors after the Blinkit deal ended on August 25. According to the bulk deals data made available on the Bombay Stock Exchnage (BSE)and the National Stock Exchange (NSE), Tiger Global Management, another significant foreign investor in Zomato, sold all of its stake amounting to 1.44 per cent for Rs 1,123.85 crore ($135 million). The venture capital fund operated by the US-based investment manager, Internet Fund III Pte Ltd, sold the shares through open market transactions. As per stock exchange records, US-based private equity fund Tiger Global also sold its final shares of Zomato on Monday. Data from BSE indicates that, the private equity firm sold 123.5 million shares in bulk for Rs 91.01 ($1.10) each, with buyers including Morgan Stanley Asia Singapore, Kotak Mahindra Mutual Fund, Societe Generale, and BNP Paribas Arbitrage Fund. Tiger Global made its initial Zomato investment in 2020 and acquired Zomato shares as part of the Blinkit transaction last year. In August 2022, the private equity group reduced its ownership in Zomato. WATCH WION LIVE HERE

Softbank Vision Growth Fund sells 10 crore Zomato shares in block transaction 

<p>Tiger Global, a US-based investment company, concluded its exit from the online food delivery service Zomato on Monday (August 28) by selling all of its shares for a total of Rs 1,123.85 crore ($136 million) through its venture capital fund Internet Fund III Pte Ltd, CNBC TV18 reported.</p>

<p>Tiger Global exited Zomato by selling about 12.35 crore of its shares, realising a transaction value of Rs. 1,124 crore ($136 million) at an average share price of Rs. 91.01 ($1). Tiger Global’s investment relationship with Zomato, a significant participant in India’s food delivery and restaurant discovery markets, came to an end with this transaction.</p>

<p>The sale of Tiger Global’s 1.44 per cent equity ownership in Zomato demonstrates the investment company's strategic choice to make money off of its stake in the online meal delivery service. It’s important to note that Tiger Global had long been a substantial Zomato investment.</p>

<p>Along with Tiger Global, DST Global participated in the share sale through its investment vehicle Apolleto Asia Ltd, selling over 3.2 crore Zomato shares for Rs 288 crore ($34 million).</p>

<p>According to shareholding information with the Bombay Stock Exchange (BSE), Tiger Global owned a 1.44 per cent investment in Zomato at the end of the June quarter. Tiger Global sold more than 18.45 crore shares on the open market in August 2022, cutting its ownership in the business by nearly half to 2.77 per cent. Before the deal, Tiger Global’s Internet Fund VI Pte owned 5.11 per cent of the online food delivery service.</p>

<p>In the June quarter of this fiscal year, Zomato saw profits for the first time. The company’s food delivery margins increased to 13.6 per cent and operational improvement in the food division both contributed to the profitability.</p>

<p>When contrasted with a net loss of Rs 186 crore ($22 million) during the same period last year, the company’s combined net profit for the first quarter of this fiscal year was Rs 2 crore ($242,000). Comparing the same quarter of the previous fiscal year to the current one, the consolidated revenue from operations increased 71 per cent year over year to Rs 2,416 crore ($292 million) from Rs 1,414 crore ($171 million).</p>

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Tiger Global, a US-based investment company, concluded its exit from the online food delivery service Zomato on Monday (August 28) by selling all of its shares for a total of Rs 1,123.

Tiger Global, a US-based investment company, concluded its exit from the online food delivery service Zomato on Monday (August 28) by selling all of its shares for a total of Rs 1,123.85 crore ($136 million) through its venture capital fund Internet Fund III Pte Ltd, CNBC TV18 reported. Tiger Global exited Zomato by selling about 12.35 crore of its shares, realising a transaction value of Rs. 1,124 crore ($136 million) at an average share price of Rs. 91.01 ($1). Tiger Global’s investment relationship with Zomato, a significant participant in India’s food delivery and restaurant discovery markets, came to an end with this transaction. The sale of Tiger Global’s 1.44 per cent equity ownership in Zomato demonstrates the investment company's strategic choice to make money off of its stake in the online meal delivery service. It’s important to note that Tiger Global had long been a substantial Zomato investment. Along with Tiger Global, DST Global participated in the share sale through its investment vehicle Apolleto Asia Ltd, selling over 3.2 crore Zomato shares for Rs 288 crore ($34 million). According to shareholding information with the Bombay Stock Exchange (BSE), Tiger Global owned a 1.44 per cent investment in Zomato at the end of the June quarter. Tiger Global sold more than 18.45 crore shares on the open market in August 2022, cutting its ownership in the business by nearly half to 2.77 per cent. Before the deal, Tiger Global’s Internet Fund VI Pte owned 5.11 per cent of the online food delivery service. In the June quarter of this fiscal year, Zomato saw profits for the first time. The company’s food delivery margins increased to 13.6 per cent and operational improvement in the food division both contributed to the profitability. When contrasted with a net loss of Rs 186 crore ($22 million) during the same period last year, the company’s combined net profit for the first quarter of this fiscal year was Rs 2 crore ($242,000). Comparing the same quarter of the previous fiscal year to the current one, the consolidated revenue from operations increased 71 per cent year over year to Rs 2,416 crore ($292 million) from Rs 1,414 crore ($171 million). WATCH WION LIVE HERE

Tiger Global disinvests its stake in Zomato, selling its shares for $136 million: Report

<p>The shares for India’s online food delivery platform Zomato reached a 52-week high on Monday (August 7), with a continuous rise for a fifth session in a row. Zomato stock gained by as much as 7.7 per cent to Rs 102.85 ($1.24) on the Bombay Stock Exchange (BSE). Zomato shares were able to cross the Rs 100 mark for the first time since January 2022.&nbsp;</p>

<h2><strong>What happened?</strong></h2>

<p>Last week, Zomato reported an ahead-of-schedule quarterly net profit for the June quarter of FY24. This comes after the company reported net losses for each of the eight quarters since it went public in 2021. Eventually, later in the day, the company’s stock settled at Rs 97.66 ($1.18) apiece, up 2.34 per cent on the BSE.</p>

<h2><strong>Zomato reports profit</strong></h2>

<p>The rise in stock price and investor interest comes&nbsp;after the company announced its recent consolidated net profit of Rs 2 crore ($0.24 million) for the April-June quarter of 2023 against a loss of Rs 186 crore ($22 million) in the same quarter last year, as per the report.&nbsp;</p>

<p>The company also reported consolidated revenue from operations in the first quarter of the current fiscal year as Rs 2,416 crore ($291 million) when compared to Rs 1,414 crore ($171 million), last year.&nbsp;</p>

<p>“Zomato has delivered profitability earlier than promised. There is clarity on vastly improving revenue growth. This company in a duopoly business has a long runway for growth,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, as per Zee Business.&nbsp;</p>

<p>He added, “For those investors who bought at low rates partial profit booking is fine. It makes sense to remain invested in this growth stock.”</p>

<p>Zomato shares completed two years in the listed space in July. &nbsp;</p>

<p>Some analysts believe Zomato share price rally was largely led by the report of the profits. “Zomato share price is seeing the rally on the back of euphoria around better Q1 results. However, the company still has a long way to go to become EBITDA positive,” said Avinash Gorakshakar, Director of Research at&nbsp;Profitmart Securities, according to the Mint.&nbsp;</p>

<p>He added, “All the positives have been factored in by the current share price for the near term. Hence, we may see profit booking in Zomato share price going ahead after this rally.” He also noted that the Zomato share valuations are still very high and do not make sense at these prices.&nbsp;<br />
<br />
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The shares for India’s online food delivery platform Zomato reached a 52-week high on Monday (August 7), with a continuous rise for a fifth session in a row. Zomato stock gained by as much as 7.

The shares for India’s online food delivery platform Zomato reached a 52-week high on Monday (August 7), with a continuous rise for a fifth session in a row. Zomato stock gained by as much as 7.7 per cent to Rs 102.85 ($1.24) on the Bombay Stock Exchange (BSE). Zomato shares were able to cross the Rs 100 mark for the first time since January 2022. What happened? Last week, Zomato reported an ahead-of-schedule quarterly net profit for the June quarter of FY24. This comes after the company reported net losses for each of the eight quarters since it went public in 2021. Eventually, later in the day, the company’s stock settled at Rs 97.66 ($1.18) apiece, up 2.34 per cent on the BSE. Zomato reports profit The rise in stock price and investor interest comes after the company announced its recent consolidated net profit of Rs 2 crore ($0.24 million) for the April-June quarter of 2023 against a loss of Rs 186 crore ($22 million) in the same quarter last year, as per the report. The company also reported consolidated revenue from operations in the first quarter of the current fiscal year as Rs 2,416 crore ($291 million) when compared to Rs 1,414 crore ($171 million), last year. “Zomato has delivered profitability earlier than promised. There is clarity on vastly improving revenue growth. This company in a duopoly business has a long runway for growth,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, as per Zee Business. He added, “For those investors who bought at low rates partial profit booking is fine. It makes sense to remain invested in this growth stock.” Zomato shares completed two years in the listed space in July. Some analysts believe Zomato share price rally was largely led by the report of the profits. “Zomato share price is seeing the rally on the back of euphoria around better Q1 results. However, the company still has a long way to go to become EBITDA positive,” said Avinash Gorakshakar, Director of Research at Profitmart Securities, according to the Mint. He added, “All the positives have been factored in by the current share price for the near term. Hence, we may see profit booking in Zomato share price going ahead after this rally.” He also noted that the Zomato share valuations are still very high and do not make sense at these prices. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India: Zomato shares hit 52-week high after report of first net profit

Here we bring you a quick round-up of all the latest news and top headlines from all across the globe: Three food-delivery giants are suing New York City to block minimum pay standards for gig workers, arguing that regulators used faulty data to calculate the new compensation rules.

Food-delivery companies sue New York city over minimum pay law

<p>When we use food delivery applications, we expect our order to get delivered within a certain period of time. In case it gets delayed, some of us become fussy and hangry, but we hardly think about the person who is delivering the food.&nbsp;</p>

<p>The food delivery agents often rush after taking the order from the restaurants as they are liable to bring the food in its actual state. As consumers, we would also not appreciate it if we get cold food and warm drinks.&nbsp;</p>

<p>But what about the so-called work culture of those agents, who often don't get enough time to eat their meals on time? A similar thing was seen in a viral and heartbreaking video shared by an Indian Administrative Service (IAS) officer Awanish Sharan.&nbsp;</p>

<p>In the video, it appears&nbsp;as if the delivery executive was taking a quick break to eat food directly from the plastic packet on the roadside. All details are not available so far, more information is awaited.&nbsp;</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/trending/man-mistakenly-donated-15000-instead-of-150-what-happened-next-was-heart-warming-609354">Man mistakenly donated $15,000 instead of $150. What happened next was heart-warming</a>&nbsp;</strong></p>

<p>The officer shared the video on Twitter with a caption in Hindi language which loosely translated to English as - "Take care of them too in this season."&nbsp;</p>

<p>The video was shared on June 20 and has been viewed over 312K times.&nbsp;</p>

<p><strong>Watch the video here:&nbsp;</strong></p>

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
<p dir="ltr" lang="hi">इस मौसम में इनका भी ख्याल रखें. <a href="https://t.co/Rf2kHs4srk">pic.twitter.com/Rf2kHs4srk</a></p>
— Awanish Sharan 🇮🇳 (@AwanishSharan) <a href="https://twitter.com/AwanishSharan/status/1671161540698066947?ref_src=twsrc%5Etfw">June 20, 2023</a></blockquote>
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<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>The video has taken over&nbsp;the internet as people on social media argued about what can be done in such cases.&nbsp;</p>

<p>One user wrote in the comment section that "I always make sure to offer a packet of biscuits / some fruit, / milk sharbat depending on what I have handy that time to any delivery guy who comes to deliver at my doorstep.. their smiles are priceless".&nbsp;</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/world/womans-body-found-in-rubble-six-days-after-paris-building-blast-609340">Woman's body found in rubble six days after Paris building blast</a>&nbsp;</strong></p>

<p>"In order to get our food delivered on time, they often remain hungry or skip their meals. It's a sad reality and these scenes are heart touching," another wrote.&nbsp;</p>

<p>"I atleast always asked for water to those come for delivery," one user chimed in.&nbsp;</p>

<p>"Irony of life. Be grateful for what you have and once you have enough help the needy," another said.&nbsp;</p>

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When we use food delivery applications, we expect our order to get delivered within a certain period of time. In case it gets delayed, some of us become fussy and hangry, but we hardly think about the person who is delivering the food.

When we use food delivery applications, we expect our order to get delivered within a certain period of time. In case it gets delayed, some of us become fussy and hangry, but we hardly think about the person who is delivering the food. The food delivery agents often rush after taking the order from the restaurants as they are liable to bring the food in its actual state. As consumers, we would also not appreciate it if we get cold food and warm drinks. But what about the so-called work culture of those agents, who often don't get enough time to eat their meals on time? A similar thing was seen in a viral and heartbreaking video shared by an Indian Administrative Service (IAS) officer Awanish Sharan. In the video, it appears as if the delivery executive was taking a quick break to eat food directly from the plastic packet on the roadside. All details are not available so far, more information is awaited. Also read: Man mistakenly donated $15,000 instead of $150. What happened next was heart-warming The officer shared the video on Twitter with a caption in Hindi language which loosely translated to English as - "Take care of them too in this season." The video was shared on June 20 and has been viewed over 312K times. Watch the video here: इस मौसम में इनका भी ख्याल रखें. pic.twitter.com/Rf2kHs4srk — Awanish Sharan 🇮🇳 (@AwanishSharan) June 20, 2023 × The video has taken over the internet as people on social media argued about what can be done in such cases. One user wrote in the comment section that "I always make sure to offer a packet of biscuits / some fruit, / milk sharbat depending on what I have handy that time to any delivery guy who comes to deliver at my doorstep.. their smiles are priceless". Also read: Woman's body found in rubble six days after Paris building blast "In order to get our food delivered on time, they often remain hungry or skip their meals. It's a sad reality and these scenes are heart touching," another wrote. "I atleast always asked for water to those come for delivery," one user chimed in. "Irony of life. Be grateful for what you have and once you have enough help the needy," another said. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Netizens are in anguish after seeing food delivery agent eating from plastic packet on roadside

<p>Indian online food delivery aggregator Zomato has been served with a notice from the National Commission For Scheduled Castes for a controversial ad that many found to be casteist, Indian media reported.</p>

<p>The food delivery app had to take down its advertisement that depicted an actor who played the Dalit character Kachra in the film <em>Lagaan</em>&nbsp;as items made of recycled waste.</p>

<p>The ad drew parallels between the character Kachra and "kachra"&nbsp;(the Hindi word for garbage), and was aired on World Environment Day on June 5.</p>

<p>Soon, ‘Boycott Zomato’ started trending on social media, forcing the company to retract its ad. It also issued an apology for "unintentionally" hurting certain communities.</p>

<p>"Unintentionally, we may have hurt the sentiments of certain communities and individuals. We have taken down the video," the company said.</p>

<p>The Gurgaon-headquartered company said its intent was to "spread awareness about the potential of plastic waste and benefits of recycling in a humorous way".</p>

<p>However, the National Commission for Scheduled Castes was not impressed with the apology and ordered to investigate the matter as it issued a notice to Zomato founder Deepinder Goyal.</p>

<p>"In case the commission does not receive a reply from you within the stipulated time, the commission may issue summons for your appearance in person," the notice to Zomato founder read, according to NDTV.</p>

<h2><strong>What is the issue all about?</strong></h2>

<p>Kachra is a character that appears in the Hindi movie <em>Lagaan</em>, a historical sports drama starring&nbsp;Aamir Khan. It was released in 2001.</p>

<p>In the movie, Kachra, played by actor Aditya Lakhia, belongs to a marginalised community and is shunned by his fellow villagers. Because of his special ball-spinning techniques, he is chosen by Bhuvan, played by Khan, and ends up playing a pivotal role in the main match against the British team.</p>

<h2><strong>The controversial ad&nbsp;</strong></h2>

<p>In the nearly 120-second-long ad, Lakhia was portrayed as a lamp, paper, paperweight, watering can, and various types of jackets, conveying the message that garbage can be recycled and turned into useful items.</p>

<p>"When recycled, "kachra"&nbsp;can become many things,” Zomato told viewers through the ad.</p>

<h2><strong>Sly humour gone wrong</strong></h2>

<p>Communications strategist Karthik Srinivasan told PTI news agency that Zomato attempted a play on the word "kachra" without thinking about its consequences.</p>

<p>"There's a context to Kachra's character in 'Lagaan', and within the larger spectrum of commercial entertainment in India, on how castes are portrayed, and how Dalits, in particular, are portrayed or stereotyped," he told PTI.</p>

<p>He added that Zomato attempted to mine a “kind of sly humour” from the name for waste upcycling/recycling.</p>

<p><em>(With inputs from agencies)</em></p>

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Indian online food delivery aggregator Zomato has been served with a notice from the National Commission For Scheduled Castes for a controversial ad that many found to be casteist, Indian media reported.

Indian online food delivery aggregator Zomato has been served with a notice from the National Commission For Scheduled Castes for a controversial ad that many found to be casteist, Indian media reported. The food delivery app had to take down its advertisement that depicted an actor who played the Dalit character Kachra in the film Lagaan as items made of recycled waste. The ad drew parallels between the character Kachra and "kachra" (the Hindi word for garbage), and was aired on World Environment Day on June 5. Soon, ‘Boycott Zomato’ started trending on social media, forcing the company to retract its ad. It also issued an apology for "unintentionally" hurting certain communities. "Unintentionally, we may have hurt the sentiments of certain communities and individuals. We have taken down the video," the company said. The Gurgaon-headquartered company said its intent was to "spread awareness about the potential of plastic waste and benefits of recycling in a humorous way". However, the National Commission for Scheduled Castes was not impressed with the apology and ordered to investigate the matter as it issued a notice to Zomato founder Deepinder Goyal. "In case the commission does not receive a reply from you within the stipulated time, the commission may issue summons for your appearance in person," the notice to Zomato founder read, according to NDTV. What is the issue all about? Kachra is a character that appears in the Hindi movie Lagaan, a historical sports drama starring Aamir Khan. It was released in 2001. In the movie, Kachra, played by actor Aditya Lakhia, belongs to a marginalised community and is shunned by his fellow villagers. Because of his special ball-spinning techniques, he is chosen by Bhuvan, played by Khan, and ends up playing a pivotal role in the main match against the British team. The controversial ad In the nearly 120-second-long ad, Lakhia was portrayed as a lamp, paper, paperweight, watering can, and various types of jackets, conveying the message that garbage can be recycled and turned into useful items. "When recycled, "kachra" can become many things,” Zomato told viewers through the ad. Sly humour gone wrong Communications strategist Karthik Srinivasan told PTI news agency that Zomato attempted a play on the word "kachra" without thinking about its consequences. "There's a context to Kachra's character in 'Lagaan', and within the larger spectrum of commercial entertainment in India, on how castes are portrayed, and how Dalits, in particular, are portrayed or stereotyped," he told PTI. He added that Zomato attempted to mine a “kind of sly humour” from the name for waste upcycling/recycling. (With inputs from agencies) WATCH WION LIVE HERE

Indian online food delivery aggregator Zomato pulled up for controversial ad

<p>An Indian online food delivery service named Zomato withdrew its advertisement on recycling trash, following complaints over how it depicted a Dalit&nbsp;character.&nbsp;Dalits, formerly&nbsp;referred to as "untouchables",&nbsp;are a historically underprivileged population in the country.&nbsp;</p>

<p>The character&nbsp;appeared as recycled rubbish in a Zomato commercial for World Environment Day.</p>

<p>The company took down the video, saying it had "unintentionally" hurt some&nbsp;communities.&nbsp;The ad featured actor Aditya Lakhia, who famously played a character called Kachra in the 2001 Bollywood film <em>Lagaan</em>, reported the BBC.</p>

<p>The movie, which features Aamir Khan, is about peasants who challenge their British overlords to a game of cricket in order to avoid paying a harsh tax. The movie received an Oscar nomination, and Time magazine named it one of the top 25 sports films ever made.</p>

<p>The character of Kachra, who in Hindi means "garbage",&nbsp;is shown in the movie as being crippled and rejected by his fellow villagers until he is chosen to play for the squad. He ultimately plays a crucial part in helping his side pull off an unexpected victory.</p>

<p>The figure in Zomato's advertisement played with goods manufactured from recycled garbage, including a lamp, table, paper, and watering can, in an effort to highlight the company's voluntary waste recycling.</p>

<p><strong>Also watch |&nbsp;Byju's to cut jobs, sales, and marketing teams to face the heat</strong></p>

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<p>Zomato was condemned for airing a "repulsive" ad by Bollywood director Neeraj Ghaywan.</p>

<p>In a tweet, he criticised "Kachra from Lagaan," calling it "one of the most dehumanised voiceless depictions of Dalits ever in cinema".</p>

<p>Development expert Radha Khan stated in The Indian Express that "using a character who is a Dalit and showing him to be made from actual waste is extremely problematic and insensitive".</p>

<p>"To depict a person as being recycled trash 'rescued'&nbsp;from the dung heap to be used as utility 'objects'&nbsp;dehumanises him. It shows how corporate boardrooms and ad agencies have no diversity in their staff and are clearly completely dominated by upper castes who have little or no understanding of how to perceive and depict those who are from marginalised and socially-ostracised groups." Khan said.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/india-news/mumbai-murder-man-accused-of-brutally-killing-partner-claims-to-be-hiv-police-reveals-the-two-were-married-602619">Mumbai Murder: Man accused of brutally killing partner claims to be HIV+, police reveals the two were married</a></p>

<h2><strong>Calls to boycott Zomato</strong></h2>

<p>On Friday, social media users called for a&nbsp;boycott of the company.&nbsp;Zomato tried a play on the word "kachra",&nbsp;according to communications strategist Karthik Srinivasan, but failed to consider how it would appear to have the figure execute "seemingly dehumanising and menial tasks", reported the BBC.</p>

<p>The advertisement has been removed from all of Zomato's social media platforms.</p>

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An Indian online food delivery service named Zomato withdrew its advertisement on recycling trash, following complaints over how it depicted a Dalit character. Dalits, formerly referred to as "untouchables", are a historically underprivileged population in the country.

An Indian online food delivery service named Zomato withdrew its advertisement on recycling trash, following complaints over how it depicted a Dalit character. Dalits, formerly referred to as "untouchables", are a historically underprivileged population in the country. The character appeared as recycled rubbish in a Zomato commercial for World Environment Day. The company took down the video, saying it had "unintentionally" hurt some communities. The ad featured actor Aditya Lakhia, who famously played a character called Kachra in the 2001 Bollywood film Lagaan, reported the BBC. The movie, which features Aamir Khan, is about peasants who challenge their British overlords to a game of cricket in order to avoid paying a harsh tax. The movie received an Oscar nomination, and Time magazine named it one of the top 25 sports films ever made. The character of Kachra, who in Hindi means "garbage", is shown in the movie as being crippled and rejected by his fellow villagers until he is chosen to play for the squad. He ultimately plays a crucial part in helping his side pull off an unexpected victory. The figure in Zomato's advertisement played with goods manufactured from recycled garbage, including a lamp, table, paper, and watering can, in an effort to highlight the company's voluntary waste recycling. Also watch | Byju's to cut jobs, sales, and marketing teams to face the heat Zomato was condemned for airing a "repulsive" ad by Bollywood director Neeraj Ghaywan. In a tweet, he criticised "Kachra from Lagaan," calling it "one of the most dehumanised voiceless depictions of Dalits ever in cinema". Development expert Radha Khan stated in The Indian Express that "using a character who is a Dalit and showing him to be made from actual waste is extremely problematic and insensitive". "To depict a person as being recycled trash 'rescued' from the dung heap to be used as utility 'objects' dehumanises him. It shows how corporate boardrooms and ad agencies have no diversity in their staff and are clearly completely dominated by upper castes who have little or no understanding of how to perceive and depict those who are from marginalised and socially-ostracised groups." Khan said. Also read | Mumbai Murder: Man accused of brutally killing partner claims to be HIV+, police reveals the two were married Calls to boycott Zomato On Friday, social media users called for a boycott of the company. Zomato tried a play on the word "kachra", according to communications strategist Karthik Srinivasan, but failed to consider how it would appear to have the figure execute "seemingly dehumanising and menial tasks", reported the BBC. The advertisement has been removed from all of Zomato's social media platforms. WATCH WION LIVE HERE:

India: Zomato takes down 'Kachra' campaign video after major backlash

<p>Popular Indian online food delivery platforms Swiggy and Zomato have expressed their displeasure at the latest changes in the regulation of bike-taxis services in capital Delhi. The platforms say that the changes have caused confusion and disruption of their services as their delivery persons are being issued fines amounting to thousands of rupees. This, say the companies, has created panic among the delivery executives.</p>

<p>News agency IANS quoted Swiggy spokesperson that the delivery executives are being wrongly charged as the recent government notification is applicable only to bike-taxi service providers.</p>

<p>"Some challans that have been issued to our delivery executives are in excess of Rs 15,000," said the company spokesperson as quoted by IANS.</p>

<p>The spokesperson added that this has "created fear and apprehension among our delivery executives", who are crucial in ensuring that our customers receive their orders on time.</p>

<p>A Zomato spokesperson told IANS that "while the notice is only for passenger vehicles, there is some misinterpretation on the ground".</p>

<p>Dinker Vashisht, Group Vice President of Public Policy, Regulatory and sustainability at Swiggy reportedly sent a letter to Delhi government's transport department. He said that the directions from the government have been misinterpreted by Regional Transport Office (RTO) officials.&nbsp;</p>

<p>"This has led to disruption of services, and confusion among the delivery partners, who are now apprehensive of providing their service with a fear of being penalised and harassed while on duty," Vashisht said, urging the Delhi government to intervene and give an assurance to delivery partners and last-mile delivery aggregators.</p>

<p>"Ensuring that our delivery executives can operate smoothly and serve our customers without any interruptions is our top priority," said the company.</p>

<p>Last week, ride-hailing major Uber asked the Delhi government to create a level-playing field for two-wheeler mobility rides for commuters.</p>

<p>The company said that different electrification mandates for ridesharing and delivery sectors, not only leads to inequitable sharing of responsibility but "seriously disadvantages the entire industry".</p>

<p>Carrying passengers on bike-taxis bearing private registration numbers has been made a punishable offence and may attract fines up to Rs 10,000, according to a circular issued by the Transport Department of Delhi government.</p>

<p><em>(With inputs from agencies)</em></p>

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Popular Indian online food delivery platforms Swiggy and Zomato have expressed their displeasure at the latest changes in the regulation of bike-taxis services in capital Delhi.

Popular Indian online food delivery platforms Swiggy and Zomato have expressed their displeasure at the latest changes in the regulation of bike-taxis services in capital Delhi. The platforms say that the changes have caused confusion and disruption of their services as their delivery persons are being issued fines amounting to thousands of rupees. This, say the companies, has created panic among the delivery executives. News agency IANS quoted Swiggy spokesperson that the delivery executives are being wrongly charged as the recent government notification is applicable only to bike-taxi service providers. "Some challans that have been issued to our delivery executives are in excess of Rs 15,000," said the company spokesperson as quoted by IANS. The spokesperson added that this has "created fear and apprehension among our delivery executives", who are crucial in ensuring that our customers receive their orders on time. A Zomato spokesperson told IANS that "while the notice is only for passenger vehicles, there is some misinterpretation on the ground". Dinker Vashisht, Group Vice President of Public Policy, Regulatory and sustainability at Swiggy reportedly sent a letter to Delhi government's transport department. He said that the directions from the government have been misinterpreted by Regional Transport Office (RTO) officials. "This has led to disruption of services, and confusion among the delivery partners, who are now apprehensive of providing their service with a fear of being penalised and harassed while on duty," Vashisht said, urging the Delhi government to intervene and give an assurance to delivery partners and last-mile delivery aggregators. "Ensuring that our delivery executives can operate smoothly and serve our customers without any interruptions is our top priority," said the company. Last week, ride-hailing major Uber asked the Delhi government to create a level-playing field for two-wheeler mobility rides for commuters. The company said that different electrification mandates for ridesharing and delivery sectors, not only leads to inequitable sharing of responsibility but "seriously disadvantages the entire industry". Carrying passengers on bike-taxis bearing private registration numbers has been made a punishable offence and may attract fines up to Rs 10,000, according to a circular issued by the Transport Department of Delhi government. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

India: Zomato, Swiggy say delivery boys facing police harassment in Delhi

<p>India's Food delivery giant Zomato stopped its operations in 225 small cities, after losses of Rs346.6 crore were reported by the company in the quarter which ended in December as the business of food delivery slowed down.&nbsp;</p>

<p>During its third-quarter financial earnings report, Zomato noted that the losses of the food delivery tech company have widened further. The company announced&nbsp;that the operations in 225 smaller cities have ceased as its performance in these specific cities was 'not very encouraging'.&nbsp;</p>

<p>"The current slowdown in demand was unexpected, which is impacting the growth in food delivery profits. But despite that, we think we are in a good position to meet our profitability goal," said the company in its Q3 report.</p>

<p><strong>ALSO READ |</strong> <a href="https://www.wionews.com/india-news/swiggy-lays-off-380-employees-ceo-apologises-for-the-extremely-difficult-decision-554448">Swiggy lays off 380 employees, CEO apologises for the 'extremely difficult decision'</a></p>

<p>In its financial earning report, the company noted that the food delivery application exited from "225 smaller cities in January, which contributed 0.3% of its gross order value in the December quarter".&nbsp;</p>

<p>Speaking about the decision, the company stated, "Performance of these cities was not very encouraging in the past few quarters, and we did not feel the payback period on our investments in these cities was acceptable."</p>

<p>&nbsp;It further talked about relaunching the Gold subscription to boost its profits. "We launched a brand-new membership program, Zomato Gold, in late January... We expect this program to drive loyalty and higher frequency of ordering going forward," the company said, further claiming that more than 9 lakh members have taken the subscription.&nbsp;</p>

<p><strong>WATCH | Reports: Meta delays budgets of multiple teams as it plans more job cuts</strong></p>

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<p>Recently, Zomato CEO Deepinder Goyal announced that the company is looking to hire 800 people for different vacancies and post various job vacancies on LinkedIn. &nbsp;However, in one of the job posts, the requirement posted 'work 24*7 with no work life balance', due to which the company faced backlash from people.</p>

<p>"Hello everyone – we have about 800 positions open across these 5 roles at Zomato. If you happen to know someone really good for any of these roles, please tag them on this thread. To express interest in knowing more about any of these roles, please email me at deepinder@zomato.com – me and/or my team will be prompt in responding to you and closing the loop either way," Goyal wrote.</p>

<p>In the job post, the Zomatao CEO stated, "As the Chief of Staff to one of our CEOs (Zomato, Blinklt, Hyperpure), you will be nothing less than a force multiplier and a mini-CEO for the organization. You will drive large priorities across the organization to influence outcomes and maintain momentum. This is a 24-7 job, and the traditional employee mindset of "work life balance" won't work."&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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India's Food delivery giant Zomato stopped its operations in 225 small cities, after losses of Rs346.6 crore were reported by the company in the quarter which ended in December as the business of food delivery slowed down.

India's Food delivery giant Zomato stopped its operations in 225 small cities, after losses of Rs346.6 crore were reported by the company in the quarter which ended in December as the business of food delivery slowed down. During its third-quarter financial earnings report, Zomato noted that the losses of the food delivery tech company have widened further. The company announced that the operations in 225 smaller cities have ceased as its performance in these specific cities was 'not very encouraging'. "The current slowdown in demand was unexpected, which is impacting the growth in food delivery profits. But despite that, we think we are in a good position to meet our profitability goal," said the company in its Q3 report. ALSO READ | Swiggy lays off 380 employees, CEO apologises for the 'extremely difficult decision' In its financial earning report, the company noted that the food delivery application exited from "225 smaller cities in January, which contributed 0.3% of its gross order value in the December quarter". Speaking about the decision, the company stated, "Performance of these cities was not very encouraging in the past few quarters, and we did not feel the payback period on our investments in these cities was acceptable." It further talked about relaunching the Gold subscription to boost its profits. "We launched a brand-new membership program, Zomato Gold, in late January... We expect this program to drive loyalty and higher frequency of ordering going forward," the company said, further claiming that more than 9 lakh members have taken the subscription. WATCH | Reports: Meta delays budgets of multiple teams as it plans more job cuts Recently, Zomato CEO Deepinder Goyal announced that the company is looking to hire 800 people for different vacancies and post various job vacancies on LinkedIn. However, in one of the job posts, the requirement posted 'work 24*7 with no work life balance', due to which the company faced backlash from people. "Hello everyone – we have about 800 positions open across these 5 roles at Zomato. If you happen to know someone really good for any of these roles, please tag them on this thread. To express interest in knowing more about any of these roles, please email me at deepinder@zomato.com – me and/or my team will be prompt in responding to you and closing the loop either way," Goyal wrote. In the job post, the Zomatao CEO stated, "As the Chief of Staff to one of our CEOs (Zomato, Blinklt, Hyperpure), you will be nothing less than a force multiplier and a mini-CEO for the organization. You will drive large priorities across the organization to influence outcomes and maintain momentum. This is a 24-7 job, and the traditional employee mindset of "work life balance" won't work." (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Food delivery giant Zomato pulls from 225 Indian cities after massive loss

<p>Gunjan Patidar, the co-founder of India’s online food delivery platform Zomato, resigned on Monday after being associated with the company for more than a decade.</p>

<p>Zomato Ltd said on Monday, that Gunjan Patidar, the company's co-founder and chief technical officer, has&nbsp;resigned after more than a decade with the Indian food delivery firm.</p>

<p>Patidar was also the Chief Technical Officer who was responsible for building the core tech systems of the company. His departure comes amid high-profile exits from the company in the last few months.</p>

<p>"Patidar was one of the first few employees of Zomato and built the core tech systems for the company," it said in a stock exchange filing.</p>

<p>"Over the last ten plus years, he also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable," the company said.</p>

<p>The company, however, did not provide any reason for his resignation.</p>

<h2><strong>Why does NASA want to reboost Hubble Space Telescope into a higher orbit?</strong></h2>

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<p>In November, another co-founder, Mohit Gupta, put in his papers. He joined the company four-and-a-half years back as the CEO and subsequently was elevated to the co-founder position in 2020.</p>

<p>Apart from Gupta, deputy chief financial officer Nitin Savara and vice president of global growth Siddharth Jhawar also recently resigned from the company.</p>

<p>The exits come amidst Zomato posing narrow losses in the last two quarters. Its food delivery business' gross order values—the total value of all food delivery orders placed online on Zomato's platform—jumped 23 per cent from a year earlier in the September&nbsp;quarter.</p>

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Gunjan Patidar, the co-founder of India’s online food delivery platform Zomato, resigned on Monday after being associated with the company for more than a decade.

Gunjan Patidar, the co-founder of India’s online food delivery platform Zomato, resigned on Monday after being associated with the company for more than a decade. Zomato Ltd said on Monday, that Gunjan Patidar, the company's co-founder and chief technical officer, has resigned after more than a decade with the Indian food delivery firm. Patidar was also the Chief Technical Officer who was responsible for building the core tech systems of the company. His departure comes amid high-profile exits from the company in the last few months. "Patidar was one of the first few employees of Zomato and built the core tech systems for the company," it said in a stock exchange filing. "Over the last ten plus years, he also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable," the company said. The company, however, did not provide any reason for his resignation. Why does NASA want to reboost Hubble Space Telescope into a higher orbit? In November, another co-founder, Mohit Gupta, put in his papers. He joined the company four-and-a-half years back as the CEO and subsequently was elevated to the co-founder position in 2020. Apart from Gupta, deputy chief financial officer Nitin Savara and vice president of global growth Siddharth Jhawar also recently resigned from the company. The exits come amidst Zomato posing narrow losses in the last two quarters. Its food delivery business' gross order values—the total value of all food delivery orders placed online on Zomato's platform—jumped 23 per cent from a year earlier in the September quarter. WATCH WION LIVE HERE:

Zomato co-founder Gunjan Patidar resigns as online delivery firm battles high-profile exits

<p>Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in&nbsp;Indian food delivery aggregator Zomato, according to multiple reports.&nbsp;The Chinese company will be selling its stake through a block deal expected to take place on Wednesday. Morgan Stanley will be the broker with Alibaba's shares being offered at a five to six per cent discount.&nbsp;</p>

<p>Through the deal, the Chinese tech giant is anticipating to mop up around $200 million.&nbsp;</p>

<p>In&nbsp;August,&nbsp;Uber, the US-based cab-hailing platform exited Zomato by selling its 7.8 per cent stake via a similar block deal.&nbsp;According to term sheets, the deal stood at around&nbsp;$392 million with shares sold at&nbsp;50.44 rupees apiece.&nbsp;</p>

<p><a href="https://www.wionews.com/india-news/uber-to-sell-its-78-per-cent-stake-in-zomato-sources-502955"><strong>Read more:&nbsp;Uber to sell its 7.8 per cent stake in Zomato</strong></a></p>

<p><strong>What happened with Zomato?</strong></p>

<p>Zomato issued its Initial Public Offering (IPO) last year when its valuation stood at $13.3 billion. Notably, the company's valuation was only $3.5 billion, a year prior to the IPO&nbsp;and that too after acquiring Uber Eats and its India services.</p>

<p>When the IPO was released, it was 35 times oversubscribed, suggesting that the company had played the right hand.</p>

<p>At the time, the company was listed with an issue price of Rs 76, per stock. Subsequently, the stock price rose to an all-time high of Rs 169.10 in November.</p>

<p><a href="https://www.wionews.com/videos/zomato-confirms-plans-to-lay-off-3-staff-nationwide-535700"><strong>WATCH |&nbsp;Zomato confirms plans to lay off 3% staff nationwide</strong></a></p>

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<p>However, that was the last time the company's stock touched such heights.&nbsp;Since then, the Bengaluru-based company has failed to recreate the same magic as it fails to chart a road towards profitability.&nbsp;</p>

<p>The global economic downturn has added to Zomato's woes. The company confirmed earlier this month that it will be firing at least three per cent of its workforce&nbsp;across the country based on regular performance.&nbsp;</p>

<p>“There has been a regular performance based churn of under three per cent of our workforce, there's nothing more to it,” said the Zomato spokesperson.</p>

<p>Zomato sustained a net loss of $2.5 billion in the quarter ending September when compared to the previous fiscal year’s loss of $4.3 billion during the same period.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in Indian food delivery aggregator Zomato, according to multiple reports.

Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in Indian food delivery aggregator Zomato, according to multiple reports. The Chinese company will be selling its stake through a block deal expected to take place on Wednesday. Morgan Stanley will be the broker with Alibaba's shares being offered at a five to six per cent discount. Through the deal, the Chinese tech giant is anticipating to mop up around $200 million. In August, Uber, the US-based cab-hailing platform exited Zomato by selling its 7.8 per cent stake via a similar block deal. According to term sheets, the deal stood at around $392 million with shares sold at 50.44 rupees apiece. Read more: Uber to sell its 7.8 per cent stake in Zomato What happened with Zomato? Zomato issued its Initial Public Offering (IPO) last year when its valuation stood at $13.3 billion. Notably, the company's valuation was only $3.5 billion, a year prior to the IPO and that too after acquiring Uber Eats and its India services. When the IPO was released, it was 35 times oversubscribed, suggesting that the company had played the right hand. At the time, the company was listed with an issue price of Rs 76, per stock. Subsequently, the stock price rose to an all-time high of Rs 169.10 in November. WATCH | Zomato confirms plans to lay off 3% staff nationwide × However, that was the last time the company's stock touched such heights. Since then, the Bengaluru-based company has failed to recreate the same magic as it fails to chart a road towards profitability. The global economic downturn has added to Zomato's woes. The company confirmed earlier this month that it will be firing at least three per cent of its workforce across the country based on regular performance. “There has been a regular performance based churn of under three per cent of our workforce, there's nothing more to it,” said the Zomato spokesperson. Zomato sustained a net loss of $2.5 billion in the quarter ending September when compared to the previous fiscal year’s loss of $4.3 billion during the same period. (With inputs from agencies) WATCH WION LIVE HERE:

After Uber, Alibaba to sell three per cent stake in Zomato at discount: Reports

The food aggregator Zomato also confirmed that it will lay off just under 3 percent of its workforce across the country based on regular performance.

Zomato confirms plans to lay off 3% staff nationwide

Let us take a look at stories generating interest across WION's social media channels.

Trending on WION: Zomato confirms country-wide layoffs, job cuts to affect at least 3% of staff

<p>On Saturday, amid reports and speculation of possible layoffs, the food aggregator Zomato also confirmed that it will lay off just under 3 per cent of its workforce across the country based on regular performance. This comes amid what many have called the “lay off season” after major tech giants have fired employees affecting thousands across the world.&nbsp;</p>

<p>“There has been a regular performance based churn of under 3 per cent of our workforce, there's nothing more to it,” said the Zomato spokesperson. Notably, these layoffs were announced following the exit of the company’s three top-level executives, including co-founder&nbsp;Mohit Gupta&nbsp;on Friday.&nbsp;</p>

<p><strong>ALSO READ:&nbsp;<a href="https://www.wionews.com/india-news/uber-to-sell-its-78-per-cent-stake-in-zomato-sources-502955">Uber to sell its 7.8 per cent stake in Zomato: Sources</a></strong></p>

<p>Earlier this month, the company’s new initiatives head, Rahul Ganjoo, and former head of Intercity Legends service, Siddharth Jhawar also quit. The food delivery platform currently employs at least 3,800 people. It had fired nearly 520 employees (13 per cent of the workforce) back in 2020 following a slump in business during the Covid-19 pandemic.&nbsp;</p>

<p>At least 100 employees have already been impacted across functions like the product, technology, catalogue and marketing, said MoneyControl citing people familiar with the matter. “These roles had become redundant as these employees who were mostly from mid-to-senior roles were working when the product was being revamped. Not that the product work is over, they have been let go,” said the source.&nbsp;</p>

<p><strong>ALSO WATCH:&nbsp;<a href="https://www.wionews.com/videos/gravitas-is-zomatos-10-minute-delivery-promise-desirable-464722">Gravitas: Is Zomato's 10-minute delivery promise desirable?</a></strong></p>

<p>According to the report, the employees will be fired as soon as this week as the company is looking to cut costs and become profitable amid an increasingly challenging macro environment. Zomato had sustained a net loss of Rs&nbsp;250.8 crores ($2.5 billion) in the last quarter, in September when compared to the previous fiscal year’s loss of Rs. 434.9 crores ($4.3 billion) in the same quarter.&nbsp;</p>

<p><em>(With inputs from agencies)&nbsp;</em><br />
&nbsp;</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

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<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>


On Saturday, amid reports and speculation of possible layoffs, the food aggregator Zomato also confirmed that it will lay off just under 3 per cent of its workforce across the country based on regular performance.

On Saturday, amid reports and speculation of possible layoffs, the food aggregator Zomato also confirmed that it will lay off just under 3 per cent of its workforce across the country based on regular performance. This comes amid what many have called the “lay off season” after major tech giants have fired employees affecting thousands across the world. “There has been a regular performance based churn of under 3 per cent of our workforce, there's nothing more to it,” said the Zomato spokesperson. Notably, these layoffs were announced following the exit of the company’s three top-level executives, including co-founder Mohit Gupta on Friday. ALSO READ: Uber to sell its 7.8 per cent stake in Zomato: Sources Earlier this month, the company’s new initiatives head, Rahul Ganjoo, and former head of Intercity Legends service, Siddharth Jhawar also quit. The food delivery platform currently employs at least 3,800 people. It had fired nearly 520 employees (13 per cent of the workforce) back in 2020 following a slump in business during the Covid-19 pandemic. At least 100 employees have already been impacted across functions like the product, technology, catalogue and marketing, said MoneyControl citing people familiar with the matter. “These roles had become redundant as these employees who were mostly from mid-to-senior roles were working when the product was being revamped. Not that the product work is over, they have been let go,” said the source. ALSO WATCH: Gravitas: Is Zomato's 10-minute delivery promise desirable? According to the report, the employees will be fired as soon as this week as the company is looking to cut costs and become profitable amid an increasingly challenging macro environment. Zomato had sustained a net loss of Rs 250.8 crores ($2.5 billion) in the last quarter, in September when compared to the previous fiscal year’s loss of Rs. 434.9 crores ($4.3 billion) in the same quarter. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India: Zomato confirms country-wide layoffs, will affect at least 3 per cent of staff

<p>Cab-hailing platform Uber Technologies is expected to sell its 7.8 per cent stake in Indian food delivery aggregator Zomato, as per credible sources. Reportedly, the US company is likely to exit the market after its net loss stood at $2.6 billion, according to&nbsp;reports released by the company on Tuesday.&nbsp;</p>

<p>According to term sheets accessed by experts, the Zomato block deal offer is expected to be around $373 million with 612 million shares on offer. The news could be announced in the early hours of Wednesday.&nbsp;</p>

<p>The shares will be reportedly priced in the range of 48-54 rupees (less than a dollar), which will be a significant depreciation on the current market price. According to BSE data, the shares of Zomato closed at Rs 55.60 on Tuesday.&nbsp;</p>

<p>Uber selling its shares comes at a time when Zomato reported to have reduced its consolidated net loss in the June quarter and its shares rose 20 per cent in the market.&nbsp;</p>

<p>Read More:<a href="https://www.wionews.com/india-news/specially-abled-delivery-executive-rides-wheelchair-to-deliver-food-wins-internet-for-the-day-501472">&nbsp;Specially abled delivery executive rides wheelchair to deliver food; wins internet for the day</a></p>

<p><strong>What happened with Zomato?</strong></p>

<p>As reported extensively by WION, at the time of issuing the Initial Public Offering (IPO) last year, Zomato was pegged at $13.3 billion in valuation. It is important to note that the food major’s valuation was a mere $3.5 billion, a year prior, and that too after acquiring Uber Eats and its India services.</p>

<p>The significant increase in the valuation had surprised many and aspersions were cast on whether Zomato had overplayed its hand.</p>

<p>When the IPO was released, it was 35 times oversubscribed, suggesting that the company knew what it was doing. At the time, the company was listed with an issue price of Rs 76, per stock.&nbsp;</p>

<p>The stock price rose to an all-time high of Rs 169.10 in November and that was the last time the company's stock touched such heights.&nbsp;&nbsp;</p>

<p>Read More:&nbsp;<a href="https://www.wionews.com/trending/unlikely-camaraderie-swiggy-delivery-boy-helping-zomato-counterpart-leaves-netizens-impressed-498939">Unlikely camaraderie: Swiggy delivery boy helping Zomato counterpart leaves netizens impressed</a></p>

<p>At the year-end, the stock price stood at Rs 137.45 and since then, it has continued to tumble. From the highs of $13.3 billion in valuation, the current market valuation of Zomato stands at $5.3 billion, as of May, which is a decline of over 60 per cent.&nbsp;</p>

<p>According to Uber, it has reported a positive quarterly cash flow for the first time in its history. However, Zomato is continuing to bleed it and thus the decision to exit the market. If it happens, it could be a significant blow to Zomato while Uber is expected to make anywhere between two to three times its original deal.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Cab-hailing platform Uber Technologies is expected to sell its 7.8 per cent stake in Indian food delivery aggregator Zomato, as per credible sources. Reportedly, the US company is likely to exit the market after its net loss stood at $2.

Cab-hailing platform Uber Technologies is expected to sell its 7.8 per cent stake in Indian food delivery aggregator Zomato, as per credible sources. Reportedly, the US company is likely to exit the market after its net loss stood at $2.6 billion, according to reports released by the company on Tuesday. According to term sheets accessed by experts, the Zomato block deal offer is expected to be around $373 million with 612 million shares on offer. The news could be announced in the early hours of Wednesday. The shares will be reportedly priced in the range of 48-54 rupees (less than a dollar), which will be a significant depreciation on the current market price. According to BSE data, the shares of Zomato closed at Rs 55.60 on Tuesday. Uber selling its shares comes at a time when Zomato reported to have reduced its consolidated net loss in the June quarter and its shares rose 20 per cent in the market. Read More: Specially abled delivery executive rides wheelchair to deliver food; wins internet for the day What happened with Zomato? As reported extensively by WION, at the time of issuing the Initial Public Offering (IPO) last year, Zomato was pegged at $13.3 billion in valuation. It is important to note that the food major’s valuation was a mere $3.5 billion, a year prior, and that too after acquiring Uber Eats and its India services. The significant increase in the valuation had surprised many and aspersions were cast on whether Zomato had overplayed its hand. When the IPO was released, it was 35 times oversubscribed, suggesting that the company knew what it was doing. At the time, the company was listed with an issue price of Rs 76, per stock. The stock price rose to an all-time high of Rs 169.10 in November and that was the last time the company's stock touched such heights. Read More: Unlikely camaraderie: Swiggy delivery boy helping Zomato counterpart leaves netizens impressed At the year-end, the stock price stood at Rs 137.45 and since then, it has continued to tumble. From the highs of $13.3 billion in valuation, the current market valuation of Zomato stands at $5.3 billion, as of May, which is a decline of over 60 per cent. According to Uber, it has reported a positive quarterly cash flow for the first time in its history. However, Zomato is continuing to bleed it and thus the decision to exit the market. If it happens, it could be a significant blow to Zomato while Uber is expected to make anywhere between two to three times its original deal. (With inputs from agencies) WATCH WION LIVE HERE:

Uber to sell its 7.8 per cent stake in Zomato: Sources

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<p>Delivery executives are the backbone of a convenience economy. Without them, the entire system can go bust in an instant. Their commitment to the work is unparalleled. However, even amidst them, a certain Ganesh Murugan has stood out for his determination and perseverance.</p>

<p>Reportedly, a video has gone viral on the realms of social media platforms where 37-year-old Ganesh Murugan, a delivery executive by profession, can be seen riding his 'custom bike' on a busy road, delivering food packages and earning a living.&nbsp;</p>

<p>Ganesh works for an Indian food delivery startup named Zomato and the netizens were in praise of the company for allowing the specially abled to make an honest living.</p>

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<p>"A salute to service of Zomato for giving the job for differently abled," said one netizen while other added, "First respect to Zomato supervisor who give him a job."</p>

<p>Read more:&nbsp;<a href="https://www.wionews.com/trending/unlikely-camaraderie-swiggy-delivery-boy-helping-zomato-counterpart-leaves-netizens-impressed-498939https://www.wionews.com/trending/unlikely-camaraderie-swiggy-delivery-boy-helping-zomato-counterpart-leaves-netizens-impressed-498939" target="_blank">Unlikely camaraderie: Swiggy delivery boy helping Zomato counterpart leaves netizens impressed</a></p>

<p>It was also revealed that Ganesh's custom bike is a two-in-one wheelchair developed by a startup at one of India's premier engineering institutions, the Indian Institute of Technology-Madras.</p>

<p>The bike turns into a conventional wheelchair with the press of a button in addition to being a motorcycle ride for him during work hours.</p>

<p>Ganesh had suffered a major spinal cord injury six years ago after he was hit by a truck. The accident had left his body partially paralysed. However, Ganesh did not let the situation get the better of him. He picked up the pieces and started working.&nbsp;</p>

<p>Ganesh's dedication to his work has certainly won the internet today and given motivation to other individuals.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Delivery executives are the backbone of a convenience economy. Without them, the entire system can go bust in an instant. Their commitment to the work is unparalleled.

Delivery executives are the backbone of a convenience economy. Without them, the entire system can go bust in an instant. Their commitment to the work is unparalleled. However, even amidst them, a certain Ganesh Murugan has stood out for his determination and perseverance. Reportedly, a video has gone viral on the realms of social media platforms where 37-year-old Ganesh Murugan, a delivery executive by profession, can be seen riding his 'custom bike' on a busy road, delivering food packages and earning a living. Ganesh works for an Indian food delivery startup named Zomato and the netizens were in praise of the company for allowing the specially abled to make an honest living. View this post on Instagram A post shared by Grooming bulls (@groming_bulls_) × "A salute to service of Zomato for giving the job for differently abled," said one netizen while other added, "First respect to Zomato supervisor who give him a job." Read more: Unlikely camaraderie: Swiggy delivery boy helping Zomato counterpart leaves netizens impressed It was also revealed that Ganesh's custom bike is a two-in-one wheelchair developed by a startup at one of India's premier engineering institutions, the Indian Institute of Technology-Madras. The bike turns into a conventional wheelchair with the press of a button in addition to being a motorcycle ride for him during work hours. Ganesh had suffered a major spinal cord injury six years ago after he was hit by a truck. The accident had left his body partially paralysed. However, Ganesh did not let the situation get the better of him. He picked up the pieces and started working. Ganesh's dedication to his work has certainly won the internet today and given motivation to other individuals. (With inputs from agencies) WATCH WION LIVE HERE:

Specially abled delivery executive rides wheelchair to deliver food; wins internet for the day

<p>A viral video of a Swiggy delivery boy helping his Zomato counterpart has won the hearts of the people on the internet.</p>

<p>In the video, a Swiggy delivery executive on a motorbike is spotted grasping the hand of a Zomato colleague on a cycle and pulling him along.</p>

<p>After seeing the footage, netizens are appreciating their camaraderie for helping each other in the brutal Delhi heat.</p>

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<p style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;"><a href="https://www.instagram.com/reel/Cfx_vfuJCN-/?utm_source=ig_embed&amp;utm_campaign=loading" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;" target="_blank">A post shared by Sannah Arora (@sannaharora)</a></p>
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<p>“True friendship seen on these extremely hot and unbearable days in Delhi!” wrote an Instagram user sharing the video.</p>

<p>“Best thing I saw today,” another user wrote on the photo and video sharing application.</p>

<p><strong><a href="https://www.wionews.com/trending/watch-netizens-surprised-by-this-delivery-mans-novel-solution-to-perform-his-job-494552">Also see |&nbsp;Watch | Netizens surprised by this delivery man's novel solution to do his job: A horse</a></strong></p>

<p>“Daily life struggle of common man,” a third user commented on the post which has received over 692,000 likes.</p>

<p>It comes after a video of a Swiggy executive man riding a horse amid heavy rain in Mumbai went viral on social media.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>Watch WION's live TV here:</strong></p>

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<p>&nbsp;</p>


A viral video of a Swiggy delivery boy helping his Zomato counterpart has won the hearts of the people on the internet. In the video, a Swiggy delivery executive on a motorbike is spotted grasping the hand of a Zomato colleague on a cycle and pulling him along.

A viral video of a Swiggy delivery boy helping his Zomato counterpart has won the hearts of the people on the internet. In the video, a Swiggy delivery executive on a motorbike is spotted grasping the hand of a Zomato colleague on a cycle and pulling him along. After seeing the footage, netizens are appreciating their camaraderie for helping each other in the brutal Delhi heat. View this post on Instagram A post shared by Sannah Arora (@sannaharora) “True friendship seen on these extremely hot and unbearable days in Delhi!” wrote an Instagram user sharing the video. “Best thing I saw today,” another user wrote on the photo and video sharing application. Also see | Watch | Netizens surprised by this delivery man's novel solution to do his job: A horse “Daily life struggle of common man,” a third user commented on the post which has received over 692,000 likes. It comes after a video of a Swiggy executive man riding a horse amid heavy rain in Mumbai went viral on social media. (With inputs from agencies) Watch WION's live TV here: ×

Unlikely camaraderie: Swiggy delivery boy helping Zomato counterpart leaves netizens impressed

From Spain to South Korea: The push for paid menstrual leave

Zomato is planning to deliver food to your homes in 10 minutes. Is instant delivery logistically possible? What happens to road safety? Palki Sharma says 10-minute delivery is not desirable in a country where emergency services never manage to arrive on time.

Gravitas: Is Zomato's 10-minute delivery promise desirable?

<p data-changed="false" data-paragraphid="27">The food delivery app Zomato's statement on Monday that it would deliver food in 10 minutes sparked a frenzy on the Internet.</p>

<p data-changed="false" data-paragraphid="29">Everyone appears to have an opinion on how this decision will pan out.</p>

<p data-changed="false" data-paragraphid="30">The food delivery app, branded 'Zomato Instant,' promises to bring freshly prepared food in just 10 minutes, claiming that their 30-minute average delivery time is too long and that customers want food faster.&nbsp;</p>

<p data-changed="false" data-paragraphid="31">Twitter users had a variety of reactions to the new post, which included their favourite snack.</p>

<p data-changed="false" data-paragraphid="32">Some folks were not pleased with the announcement and expressed their displeasure on social media.&nbsp;</p>

<p data-changed="false" data-paragraphid="33">On paper, Zomato's 'instant" programme appears to be a huge success.</p>

<p data-changed="false" data-paragraphid="34">When it comes to food and beverage services, it is clear that it wants to separate from the competitors.</p>

<p data-changed="false" data-paragraphid="35">However, in practice, the 10/10 plan may appear to be overly ambitious.</p>

<p>Netizens reacted with amusing memes, while also questioning the delivery partner's safety. Some Twitter users also expressed their dissatisfaction with the need for such urgent meal orders, which could endanger the lives of those involved.</p>

<p>Take a look at some of the tweets below:</p>

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<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/Zomato?src=hash&amp;ref_src=twsrc%5Etfw">#Zomato</a><a href="https://twitter.com/hashtag/ZomatoInstant?src=hash&amp;ref_src=twsrc%5Etfw">#ZomatoInstant</a><br />
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Zomato guys delivering food in 10 mins be like <a href="https://t.co/s8As5jAocN">pic.twitter.com/s8As5jAocN</a></p>
— Grishma Shah (@Grishma89133825) <a href="https://twitter.com/Grishma89133825/status/1505985773572706311?ref_src=twsrc%5Etfw">March 21, 2022</a></blockquote>
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<p dir="ltr" lang="en">Bhai <a href="https://twitter.com/hashtag/Zomato?src=hash&amp;ref_src=twsrc%5Etfw">#Zomato</a> we don't want food instant in 10 min... Kyu jaan khatre mein daal rahe ho bechare delivery boys ka... Because at sitting in AC office u donno the traffic and customer behaviour of India...</p>
— Abhishek. eth (@callerman) <a href="https://twitter.com/callerman/status/1506139547763372035?ref_src=twsrc%5Etfw">March 22, 2022</a></blockquote>
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<p>One user asked Goyal to not 'overcommit' to plans that look too good to be true.</p>

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<p dir="ltr" lang="en">No need, please don't do this!<br />
Imagine if it was you and not the delivery agent delivering the food, now tell us, does it make any sense to you? Would you put your life at risk like that?<br />
We don’t need this 🙏<a href="https://twitter.com/hashtag/Zomato?src=hash&amp;ref_src=twsrc%5Etfw">#Zomato</a><a href="https://twitter.com/hashtag/10minutedelivery?src=hash&amp;ref_src=twsrc%5Etfw">#10minutedelivery</a> <a href="https://t.co/eA7yZrJqcr">https://t.co/eA7yZrJqcr</a></p>
— The Sanatani kid (@thesanatanikid) <a href="https://twitter.com/thesanatanikid/status/1506192708259377152?ref_src=twsrc%5Etfw">March 22, 2022</a></blockquote>
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<p>&nbsp;</p>

<p data-changed="false" data-paragraphid="37">Karthi Chidambaram, a Congress Member of Parliament in the Lok Sabha, joined the chorus of outrage, calling the proposal "absurd."</p>

<p data-changed="false" data-paragraphid="38">"It's going to put undue pressure on the delivery personnel, who are not employees and who have no benefits or security, "he shared on Twitter.</p>

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<p dir="ltr" lang="en">This is absurd! It’s going to put undue pressure on the delivery personnel, who are not employees &amp; who have no benefits or security, who have no bargaining power with <a href="https://twitter.com/zomato?ref_src=twsrc%5Etfw">@zomato</a> I have raised this in Parliament &amp; have written to the Govt. Will pursue this further. <a href="https://t.co/fH8yflloiY">https://t.co/fH8yflloiY</a> <a href="https://t.co/PfQIe2nfR4">pic.twitter.com/PfQIe2nfR4</a></p>
— Karti P Chidambaram (@KartiPC) <a href="https://twitter.com/KartiPC/status/1505910230936260608?ref_src=twsrc%5Etfw">March 21, 2022</a></blockquote>
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<p><em>(With inputs from agencies)</em></p>


The food delivery app Zomato's statement on Monday that it would deliver food in 10 minutes sparked a frenzy on the Internet. Everyone appears to have an opinion on how this decision will pan out.

The food delivery app Zomato's statement on Monday that it would deliver food in 10 minutes sparked a frenzy on the Internet. Everyone appears to have an opinion on how this decision will pan out. The food delivery app, branded 'Zomato Instant,' promises to bring freshly prepared food in just 10 minutes, claiming that their 30-minute average delivery time is too long and that customers want food faster. Twitter users had a variety of reactions to the new post, which included their favourite snack. Some folks were not pleased with the announcement and expressed their displeasure on social media. On paper, Zomato's 'instant" programme appears to be a huge success. When it comes to food and beverage services, it is clear that it wants to separate from the competitors. However, in practice, the 10/10 plan may appear to be overly ambitious. Netizens reacted with amusing memes, while also questioning the delivery partner's safety. Some Twitter users also expressed their dissatisfaction with the need for such urgent meal orders, which could endanger the lives of those involved. Take a look at some of the tweets below: #Zomato#ZomatoInstant Zomato guys delivering food in 10 mins be like pic.twitter.com/s8As5jAocN — Grishma Shah (@Grishma89133825) March 21, 2022 × Bhai #Zomato we don't want food instant in 10 min... Kyu jaan khatre mein daal rahe ho bechare delivery boys ka... Because at sitting in AC office u donno the traffic and customer behaviour of India... — Abhishek. eth (@callerman) March 22, 2022 × One user asked Goyal to not 'overcommit' to plans that look too good to be true. No need, please don't do this! Imagine if it was you and not the delivery agent delivering the food, now tell us, does it make any sense to you? Would you put your life at risk like that? We don’t need this 🙏#Zomato#10minutedelivery https://t.co/eA7yZrJqcr — The Sanatani kid (@thesanatanikid) March 22, 2022 × Karthi Chidambaram, a Congress Member of Parliament in the Lok Sabha, joined the chorus of outrage, calling the proposal "absurd." "It's going to put undue pressure on the delivery personnel, who are not employees and who have no benefits or security, "he shared on Twitter. This is absurd! It’s going to put undue pressure on the delivery personnel, who are not employees & who have no benefits or security, who have no bargaining power with @zomato I have raised this in Parliament & have written to the Govt. Will pursue this further. https://t.co/fH8yflloiY pic.twitter.com/PfQIe2nfR4 — Karti P Chidambaram (@KartiPC) March 21, 2022 × (With inputs from agencies)

Indian firm's 10-minute food delivery promise didn't go down well on Twitter

Yearender 2021-From Zomato to DLF: Here are India's 10 biggest IPOs

<p>Shares of Indian food delivery giant&nbsp;Zomato&nbsp;soared on its market debut Friday, following a 93.75 billion rupee ($1.3 billion) IPO, the country's biggest this year.</p>

<p>Around 30 Indian companies have announced plans to list shares this year, with start-ups attracting billions of dollars in investment even though many are yet to make a profit.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/business-economy/indias-zomato-files-for-111-billion-ipo-as-food-delivery-surges-in-pandemic-381024">India's Zomato files for $1.11 billion IPO as food delivery surges in pandemic</a></strong></p>

<p>Zomato, which counts as a subsidiary of Chinese tycoon Jack Ma's Ant Group and Uber among its shareholders, dominates India's booming app-based food-delivery space alongside rival Swiggy.</p>

<p>Its shares debuted at 115 rupees on the Bombay Stock Exchange's Sensex Index, 51 per cent higher than its issue price after its IPO was subscribed 40.38 times at the end of last week.</p>

<p>The stock then rocketed up 80 per cent in the opening 10 minutes, taking&nbsp;Zomato's market capitalisation across the one trillion rupee mark.</p>

<p>India's economy has taken a battering during the pandemic, recording its worst annual recession since independence in 1947. But its start-up sector has been a rare bright spot.</p>

<p>This year alone, around 20 "unicorns", firms valued at more than a billion dollars, have been created, including half a dozen in four days in April.</p>

<p>Many are struggling to recruit qualified employees, with some reportedly offering incentives such as free motorbikes and tickets to cricket matches to lure talent.</p>

<p>This year is set to be India's best for IPOs. Others set to list include digital payments firm Paytm, backed by Japan's SoftBank and Ma.&nbsp;</p>

<p>Many of the start-ups, though, are loss-making.</p>

<p>Zomato&nbsp;for instance, which operates in 525 Indian cities, is yet to turn profitable and reported a loss of 8.16 billion rupees in the financial year ending March 2021.</p>

<p>"We are going to relentlessly focus on 10 years out and beyond, and are not going to alter our course for short-term profits at the cost of long-term success of the company,"&nbsp;Zomato's chief executive Deepinder Goyal said&nbsp;Friday.</p>


Shares of Indian food delivery giant Zomato soared on its market debut Friday, following a 93.75 billion rupee ($1.3 billion) IPO, the country's biggest this year.

Shares of Indian food delivery giant Zomato soared on its market debut Friday, following a 93.75 billion rupee ($1.3 billion) IPO, the country's biggest this year. Around 30 Indian companies have announced plans to list shares this year, with start-ups attracting billions of dollars in investment even though many are yet to make a profit. Also read | India's Zomato files for $1.11 billion IPO as food delivery surges in pandemic Zomato, which counts as a subsidiary of Chinese tycoon Jack Ma's Ant Group and Uber among its shareholders, dominates India's booming app-based food-delivery space alongside rival Swiggy. Its shares debuted at 115 rupees on the Bombay Stock Exchange's Sensex Index, 51 per cent higher than its issue price after its IPO was subscribed 40.38 times at the end of last week. The stock then rocketed up 80 per cent in the opening 10 minutes, taking Zomato's market capitalisation across the one trillion rupee mark. India's economy has taken a battering during the pandemic, recording its worst annual recession since independence in 1947. But its start-up sector has been a rare bright spot. This year alone, around 20 "unicorns", firms valued at more than a billion dollars, have been created, including half a dozen in four days in April. Many are struggling to recruit qualified employees, with some reportedly offering incentives such as free motorbikes and tickets to cricket matches to lure talent. This year is set to be India's best for IPOs. Others set to list include digital payments firm Paytm, backed by Japan's SoftBank and Ma. Many of the start-ups, though, are loss-making. Zomato for instance, which operates in 525 Indian cities, is yet to turn profitable and reported a loss of 8.16 billion rupees in the financial year ending March 2021. "We are going to relentlessly focus on 10 years out and beyond, and are not going to alter our course for short-term profits at the cost of long-term success of the company," Zomato's chief executive Deepinder Goyal said Friday.

Frenzied appetite for India food delivery giant Zomato's IPO

After the pandemic shut offices and put Mumbai's renowned lunchbox deliverymen out of work, the 130-year-old "dabbawala" network has tied up with a trendy restaurant chain to take on India's billion-dollar start-ups.

India's pandemic-hit lunchbox men battle food delivery start-ups

<p>Indian food delivery startup Zomato, backed by China`s Ant Group, has filed for an initial public offering of up to 82.5 billion rupees ($1.11 billion), as consumers increasingly turn to ordering food online during the COVID-19 pandemic.<br />
<br />
Launched in 2008, Zomato is one of India`s most prominent startups. It is present in 24 countries and employs more than 5,000 people, according to its website.<br />
<br />
In February, the company raised $250 million from five investors including hedge fund Tiger Global Management for a post-money valuation of $5.4 billion.<br />
<br />
According to draft papers submitted to India`s market regulator on Wednesday, Zomato`s offering will comprise a fresh issue of shares worth up to 75 billion rupees. The company said it intends to use the proceeds to fund growth initiatives and general corporate purposes.<br />
<br />
Top shareholder Info Edge will sell shares worth 7.5 billion rupees in the IPO.<br />
<br />
The company, along with domestic rival Swiggy, backed by Accel, dominates the Indian food delivery market, which research firm RedSeer estimates is worth $4.2 billion.<br />
<br />
India has been one of the hottest IPO markets so far in 2021, helped by a flood of foreign money and high interest from mom-and-pop investors.<br />
<br />
However, since late March, a second wave of coronavirus infections has dampened investor enthusiasm for stocks and IPOs.<br />
<br />
Well-known domestic brands and names such as Barbeque-Nation Hospitality Ltd and Macrotech Developers Ltd saw a muted response to their stock market listings.<br />
<br />
Kotak Mahindra Capital, Morgan Stanley India, Credit Suisse Securities India, BofA Securities India and Citigroup Global Markets India are the lead book running managers for Zomato`s IPO.</p>


Indian food delivery startup Zomato, backed by China`s Ant Group, has filed for an initial public offering of up to 82.5 billion rupees ($1.11 billion), as consumers increasingly turn to ordering food online during the COVID-19 pandemic.

Indian food delivery startup Zomato, backed by China`s Ant Group, has filed for an initial public offering of up to 82.5 billion rupees ($1.11 billion), as consumers increasingly turn to ordering food online during the COVID-19 pandemic. Launched in 2008, Zomato is one of India`s most prominent startups. It is present in 24 countries and employs more than 5,000 people, according to its website. In February, the company raised $250 million from five investors including hedge fund Tiger Global Management for a post-money valuation of $5.4 billion. According to draft papers submitted to India`s market regulator on Wednesday, Zomato`s offering will comprise a fresh issue of shares worth up to 75 billion rupees. The company said it intends to use the proceeds to fund growth initiatives and general corporate purposes. Top shareholder Info Edge will sell shares worth 7.5 billion rupees in the IPO. The company, along with domestic rival Swiggy, backed by Accel, dominates the Indian food delivery market, which research firm RedSeer estimates is worth $4.2 billion. India has been one of the hottest IPO markets so far in 2021, helped by a flood of foreign money and high interest from mom-and-pop investors. However, since late March, a second wave of coronavirus infections has dampened investor enthusiasm for stocks and IPOs. Well-known domestic brands and names such as Barbeque-Nation Hospitality Ltd and Macrotech Developers Ltd saw a muted response to their stock market listings. Kotak Mahindra Capital, Morgan Stanley India, Credit Suisse Securities India, BofA Securities India and Citigroup Global Markets India are the lead book running managers for Zomato`s IPO.

India's Zomato files for $1.11 billion IPO as food delivery surges in pandemic

<p>In a bid to tackle "stigma" around the issue, Indian restaurant aggregator and food delivery company Zomato has allowed women employees to take leaves up to 10 days in a year for menstruation.&nbsp;</p>

<p>Zomato founder and CEO Deepinder Goyal said female and transgender staff would be entitled to one day of leave for each menstrual cycle.&nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/india-news/zomato-employees-burn-official-t-shirts-over-chinese-investment-in-food-start-up-309349#:~:text=As%20the%20anti%2DChina%20sentiment,Chinese%20investment%20in%20the%20company.">Zomato employees burn official t-shirts over Chinese investment in food start-up</a></strong></p>

<p>"There shouldn't be any shame or stigma attached to applying for a period leave. You should feel free to tell people on internal groups, or emails that you are on your period leave for the day," said Goyal in an email reply that was shared publicly by Zomato.&nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/business-economy/marico-ties-up-with-swiggy-zomato-to-deliver-goods-during-lockdown-290473">Marico ties up with Swiggy, Zomato to deliver goods during lockdown</a></strong></p>

<p>Urging people who faced "unnecessary harassment" or "distasteful comments" for taking offs during the period to speak up, Zomato founder said women need to be supported to build a "collaborative culture".</p>

<p>"I know that menstrual cramps are very painful for a lot of women — and we have to support them through it if we want to build a truly collaborative culture at Zomato," Goyal said.</p>

<p>Menstruation remains largely a taboo subject in India, where women experience a lot of difficulties, including lack of hygiene and awareness.</p>

<p>The situation is vulnerable in rural parts where access and the of use of sanitary napkins is not very common.&nbsp;</p>

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In a bid to tackle "stigma" around the issue, Indian restaurant aggregator and food delivery company Zomato has allowed women employees to take leaves up to 10 days in a year for menstruation.

In a bid to tackle "stigma" around the issue, Indian restaurant aggregator and food delivery company Zomato has allowed women employees to take leaves up to 10 days in a year for menstruation. Zomato founder and CEO Deepinder Goyal said female and transgender staff would be entitled to one day of leave for each menstrual cycle. Also read | Zomato employees burn official t-shirts over Chinese investment in food start-up "There shouldn't be any shame or stigma attached to applying for a period leave. You should feel free to tell people on internal groups, or emails that you are on your period leave for the day," said Goyal in an email reply that was shared publicly by Zomato. Also read | Marico ties up with Swiggy, Zomato to deliver goods during lockdown Urging people who faced "unnecessary harassment" or "distasteful comments" for taking offs during the period to speak up, Zomato founder said women need to be supported to build a "collaborative culture". "I know that menstrual cramps are very painful for a lot of women — and we have to support them through it if we want to build a truly collaborative culture at Zomato," Goyal said. Menstruation remains largely a taboo subject in India, where women experience a lot of difficulties, including lack of hygiene and awareness. The situation is vulnerable in rural parts where access and the of use of sanitary napkins is not very common.

Zomato starts period leaves in bid to tackle 'stigma'

<p>As the anti-China sentiment grows in India over the killing of 20 Indian Army soldiers at the Galwan Valley in Ladakh, employees of online food aggregator Zomato in eastern Indian city of Kolkata burnt their shirts on Saturday to protest against Chinese investment in the company.&nbsp;</p>

<p>A group of employees burnt and tore off Zomato's official t-shirts in Behala, Kolkata on Saturday to protest against Chinese investment in their organisation.&nbsp;</p>

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<p dir="ltr" lang="en">Kolkata's Zomato delivery boys protest against Zomato by burning the company's jerseys as Zomato is working for the Chinese Company .So they decided to give Mass resignation and don't want to indirectly serve China who killed our Indian Soldiers said one of the protester. <a href="https://t.co/Oj0OFNWqxh">pic.twitter.com/Oj0OFNWqxh</a></p>
— syeda shabana (@shabana3637) <a href="https://twitter.com/shabana3637/status/1277145757896736769?ref_src=twsrc%5Etfw">June 28, 2020</a></blockquote>
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<p>"The Chinese cannot attack our Indian Army jawans as they are making profits from here. They are entering into our land, which is not acceptable. As our company has Chinese investment, we have decided not to be associated with it anymore," a protester said, reported The Indian Express.&nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/business-economy/marico-ties-up-with-swiggy-zomato-to-deliver-goods-during-lockdown-290473">Marico ties up with Swiggy, Zomato to deliver goods during lockdown</a></strong></p>

<p>"Indian army jawans have been killed, but Zomato loves China," protesters were&nbsp;heard in a video uploaded on Twitter, reported ET Tech.&nbsp;</p>

<p>In 2018, Ant Financial, a part of Chinese e-commerce giant Alibaba, had invested $210 million in Zomato to acquire 14.7 per cent stake. Zomator earlier this year raised an additional $150 million from Ant Financial.</p>

<p>A Zomato spokesperson told ET Tech that the protest was organised by "a small number of delivery partners" whose contracts have been terminated recently for "repeatedly violating our platform guidelines".&nbsp;</p>

<p>"Unfortunately, in their spite, they decided to get themselves heard by riding the wave of a sensitive sentiment," he said.&nbsp;</p>


As the anti-China sentiment grows in India over the killing of 20 Indian Army soldiers at the Galwan Valley in Ladakh, employees of online food aggregator Zomato in eastern Indian city of Kolkata burnt their shirts on Saturday to protest against Chinese investment in the company.

As the anti-China sentiment grows in India over the killing of 20 Indian Army soldiers at the Galwan Valley in Ladakh, employees of online food aggregator Zomato in eastern Indian city of Kolkata burnt their shirts on Saturday to protest against Chinese investment in the company. A group of employees burnt and tore off Zomato's official t-shirts in Behala, Kolkata on Saturday to protest against Chinese investment in their organisation. Kolkata's Zomato delivery boys protest against Zomato by burning the company's jerseys as Zomato is working for the Chinese Company .So they decided to give Mass resignation and don't want to indirectly serve China who killed our Indian Soldiers said one of the protester. pic.twitter.com/Oj0OFNWqxh — syeda shabana (@shabana3637) June 28, 2020 × "The Chinese cannot attack our Indian Army jawans as they are making profits from here. They are entering into our land, which is not acceptable. As our company has Chinese investment, we have decided not to be associated with it anymore," a protester said, reported The Indian Express. Also read | Marico ties up with Swiggy, Zomato to deliver goods during lockdown "Indian army jawans have been killed, but Zomato loves China," protesters were heard in a video uploaded on Twitter, reported ET Tech. In 2018, Ant Financial, a part of Chinese e-commerce giant Alibaba, had invested $210 million in Zomato to acquire 14.7 per cent stake. Zomator earlier this year raised an additional $150 million from Ant Financial. A Zomato spokesperson told ET Tech that the protest was organised by "a small number of delivery partners" whose contracts have been terminated recently for "repeatedly violating our platform guidelines". "Unfortunately, in their spite, they decided to get themselves heard by riding the wave of a sensitive sentiment," he said.

Zomato employees burn official t-shirts over Chinese investment in food start-up

<p>FMCG firm Marico on Friday said it has tied up with online food ordering platforms Swiggy and Zomato to deliver essential food items to consumers during the lockdown period.</p>

<p>Under this partnership, Swiggy and Zomato would deliver essential food items under the Marico portfolio which includes Saffola Oils, Saffola Plain Oats, Saffola Masala Oats and Coco Soul Virgin coconut oil, at doorsteps of the customers.</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/world-bank-approves-1-billion-emergency-fund-for-india-to-fight-coronavirus-290252" hreflang="en">World Bank approves $1 billion emergency fund for India to fight coronavirus</a></strong></p>

<p>"Through this collaboration, in line with its commitment to provide safe and nutritious food, Marico Ltd aims to supply necessary food items to consumers without having them to step out of their homes, in these times of turmoil,&nbsp;said a joint statement.</p>

<p>This service is available on Zomato in Delhi-NCR and Bengaluru. It will be activated in other cities such as Mumbai, Kolkata, Chandigarh and Ahmedabad from next week, it said.&nbsp;</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/no-shortage-of-medical-supplies-to-fight-covid-19-outbreak-government-290411" hreflang="en">No shortage of medical supplies to fight COVID-19 outbreak: Government</a></strong></p>

<p>While Swiggy stores have started the delivery in Gurugram, the service in Delhi-NCR, Bengaluru and Mumbai will begin this weekend, it added.</p>

<p>As one of India's leading consumer companies, we are working towards ensuring the availability and easy access of essential food items to consumers. In an effort towards this, we have partnered with Swiggy and Zomato to provide Saffola and Coco Soul products to individuals' doorstep in a safe manner,&nbsp;Marico Chief Operating Officer- India Sales &amp; Bangladesh Business Sanjay Mishra said.</p>

<p>Swiggy Chief Operating Officer Vivek Sunder said through this partnership , Swiggy will leverage and engage its extensive delivery fleet to ensure that essential products such as cooking oil and oats reach consumers quickly and in a safe manner.</p>

<p>On Thursday, ITC Foods announced its partnernship with Domino's Pizaa by launching Domino's Essentials&nbsp;to deliver groceries and packaged foods to customers during the lockdown period.</p>

<p>The government has imposed a 21-day nationwide lockdown till April 14 to stem the spread of coronavirus infections.</p>


FMCG firm Marico on Friday said it has tied up with online food ordering platforms Swiggy and Zomato to deliver essential food items to consumers during the lockdown period.

FMCG firm Marico on Friday said it has tied up with online food ordering platforms Swiggy and Zomato to deliver essential food items to consumers during the lockdown period. Under this partnership, Swiggy and Zomato would deliver essential food items under the Marico portfolio which includes Saffola Oils, Saffola Plain Oats, Saffola Masala Oats and Coco Soul Virgin coconut oil, at doorsteps of the customers. Also read: World Bank approves $1 billion emergency fund for India to fight coronavirus "Through this collaboration, in line with its commitment to provide safe and nutritious food, Marico Ltd aims to supply necessary food items to consumers without having them to step out of their homes, in these times of turmoil, said a joint statement. This service is available on Zomato in Delhi-NCR and Bengaluru. It will be activated in other cities such as Mumbai, Kolkata, Chandigarh and Ahmedabad from next week, it said. Also read: No shortage of medical supplies to fight COVID-19 outbreak: Government While Swiggy stores have started the delivery in Gurugram, the service in Delhi-NCR, Bengaluru and Mumbai will begin this weekend, it added. As one of India's leading consumer companies, we are working towards ensuring the availability and easy access of essential food items to consumers. In an effort towards this, we have partnered with Swiggy and Zomato to provide Saffola and Coco Soul products to individuals' doorstep in a safe manner, Marico Chief Operating Officer- India Sales & Bangladesh Business Sanjay Mishra said. Swiggy Chief Operating Officer Vivek Sunder said through this partnership , Swiggy will leverage and engage its extensive delivery fleet to ensure that essential products such as cooking oil and oats reach consumers quickly and in a safe manner. On Thursday, ITC Foods announced its partnernship with Domino's Pizaa by launching Domino's Essentials to deliver groceries and packaged foods to customers during the lockdown period. The government has imposed a 21-day nationwide lockdown till April 14 to stem the spread of coronavirus infections.

Marico ties up with Swiggy, Zomato to deliver goods during lockdown

<p>Uber has sold its loss-making online food-ordering business in India to local rival Zomato in exchange for a 9.99% stake in the startup backed by China's Ant Financial.</p>

<p><a href="https://www.wionews.com/business-economy/zomato-uber-eats-deal-info-edge-shares-rise-over-3-per-cent-275718">Zomato</a>, valued at around $3 billion after raising money from Ant this month, will take over Uber Eats' operations from Tuesday. Since launching in India in 2017, Uber Eats has struggled to gain market share and is a distant third to Tencent Holdings-backed Swiggy and Zomato.<br />
All three have spent heavily on deals and discounts to attract customers in a highly competitive market.</p>

<p>Uber chief financial officer Nelson Chai said the move was another demonstration, following its decision to <a href="https://www.wionews.com/business-economy/uber-safety-culture-lacking-in-autonomous-car-incident-regulator-263292">exit Uber</a> Eats South Korea in October 2019, "of our commitment to take a hard look at Eats markets where we do not have a path to leadership".</p>

<p>The San Francisco-based firm, which has promised to be profitable at an operational level by the end of 2021, has been trying to sell India Eats business for a year, according to sources.</p>

<p><strong>Also Read</strong>:&nbsp;<a href="https://www.wionews.com/business-economy/zomato-acquires-ubers-food-delivery-business-in-an-all-stock-deal-275592">Zomato acquires Uber's food delivery business in an all-stock deal</a></p>

<p>It earlier held talks with Swiggy for a similar deal, but those fell through due to valuation and regulatory issues, two of them said. Uber and Swiggy did not respond to requests for comment.</p>

<p><img alt="Uber Eats" data-entity-type="file" data-entity-uuid="d90829f3-0347-4e31-b821-e21743b99ac3" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2852%29_0.jpg" /></p>

<p><em>[&nbsp;An Uber Eats food delivery courier pulls a bicycle (Courtesy: Reuters) ]</em></p>

<p>Uber Eats' India operations contributed just 3% of gross bookings for the business globally in the first nine months of last year, while accounting for a quarter of its adjusted operating losses, the company said.</p>

<p>The unit in India made a loss of $61 million for the three months to Sept. 30 on revenue of $20 million, the company said in a filing with the U.S. Securities and Exchange Commission. Zomato reported a loss of $294 million for the year to March 2019, while Swiggy made a loss of $330 million.</p>

<p>The sale will allow Uber to cut its losses and yet keep a stake in a market expected to be worth $15 billion by 2023. Independent brand consultant Harish Bijoor said the deal would also allow Uber to focus on its strengths. "It should stick to what its competence is, in terms of being an aggregator of cabs," he said.</p>

<p>Zomato's orders per month should rise by 10 million from the 38 million to 40 million it was clocking before the deal, a source familiar with the deal said. Swiggy too receives around 40 million in monthly orders.<br />
The acquisition does not guarantee that all Uber Eats customers will switch to Zomato.</p>

<p>Online food delivery customers tend to favour companies offering the best deals, market research shows. Consultancy Frost and Sullivan said that even after the acquisition, Swiggy remains arguably the country's leading market player.</p>

<p>"Swiggy’s diversification into a variety of last-mile delivery services, including store, package and home meal deliveries, is expected to offset any potential losses due to Zomato's acquisition of Uber Eats," it said in a note.</p>


Uber has sold its loss-making online food-ordering business in India to local rival Zomato in exchange for a 9.99% stake in the startup backed by China's Ant Financial.

Uber has sold its loss-making online food-ordering business in India to local rival Zomato in exchange for a 9.99% stake in the startup backed by China's Ant Financial. Zomato, valued at around $3 billion after raising money from Ant this month, will take over Uber Eats' operations from Tuesday. Since launching in India in 2017, Uber Eats has struggled to gain market share and is a distant third to Tencent Holdings-backed Swiggy and Zomato. All three have spent heavily on deals and discounts to attract customers in a highly competitive market. Uber chief financial officer Nelson Chai said the move was another demonstration, following its decision to exit Uber Eats South Korea in October 2019, "of our commitment to take a hard look at Eats markets where we do not have a path to leadership". The San Francisco-based firm, which has promised to be profitable at an operational level by the end of 2021, has been trying to sell India Eats business for a year, according to sources. Also Read: Zomato acquires Uber's food delivery business in an all-stock deal It earlier held talks with Swiggy for a similar deal, but those fell through due to valuation and regulatory issues, two of them said. Uber and Swiggy did not respond to requests for comment. [ An Uber Eats food delivery courier pulls a bicycle (Courtesy: Reuters) ] Uber Eats' India operations contributed just 3% of gross bookings for the business globally in the first nine months of last year, while accounting for a quarter of its adjusted operating losses, the company said. The unit in India made a loss of $61 million for the three months to Sept. 30 on revenue of $20 million, the company said in a filing with the U.S. Securities and Exchange Commission. Zomato reported a loss of $294 million for the year to March 2019, while Swiggy made a loss of $330 million. The sale will allow Uber to cut its losses and yet keep a stake in a market expected to be worth $15 billion by 2023. Independent brand consultant Harish Bijoor said the deal would also allow Uber to focus on its strengths. "It should stick to what its competence is, in terms of being an aggregator of cabs," he said. Zomato's orders per month should rise by 10 million from the 38 million to 40 million it was clocking before the deal, a source familiar with the deal said. Swiggy too receives around 40 million in monthly orders. The acquisition does not guarantee that all Uber Eats customers will switch to Zomato. Online food delivery customers tend to favour companies offering the best deals, market research shows. Consultancy Frost and Sullivan said that even after the acquisition, Swiggy remains arguably the country's leading market player. "Swiggy’s diversification into a variety of last-mile delivery services, including store, package and home meal deliveries, is expected to offset any potential losses due to Zomato's acquisition of Uber Eats," it said in a note.

Uber cuts losses from Eats business in India with sale to Zomato

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