Online food ordering has become quite popular and almost every one of us takes a trip around the web when you talk about food. With the development of app market, things have become even simpler for everyone and now you people tend to make use of these apps based platforms for ordering food from your favorite restaurants.
Zomato is the most recognized name when you talk about the food delivery channels and it has made quite a name for itself in the market. The brand is on the lips of everyone in the metros and other urban centers. Slowly and steadily they are now reaching up to even the semi-urban and rural centers. The journey and transformation of the brand into one of the biggest food chains across India is nothing short of remarkable and the team deserves a great round of applause for the same. They are continuously growing and partnering with new restaurants and the food chain is becoming one of the fastest growing brands in India.
Formation and the initial phase of struggle –
Zomato was the brainchild of Deepender Goyal and the journey initially started in the Delhi NCR region in 2008. The company was initially named as Foodlet by Deepender and his friend Prasoon in the year 2005. But the story was not as planned and Prasoon moved to Mumbai and also left the business as well.
The graph of the business was going down with every passing day and things were becoming tougher for the Deepender. This is when the other co-founder of the company Mr. Pankaj moved in and the company started to climb the ladders of the success very quickly. They started the company in the name of Foodiebay.
According to Deepender, the turning point of the company was the Pankaj stepping into the project. Since then, the graph of the company has been moving like a rocket towards the sky making the company one of the leading brands.
The number of members in the team of Foodiebay was 6 in the year but in a very short span of nine months, it became the leading brand of Delhi NCR region delivering food across all regions. The service started by the company was renamed as Zomato by the year 2010.
Growth of the company –
The growth of the company was unparalleled from the year 2010 and it sky rocketed between 2010 & 2011. By the end of the year 2011, the company started delivering to all parts of the country and slowly started to grasp the mouth of everyone. Especially in the metros like Mumbai, Pune, Kolkata and Hyderabad, it becomes the voice of everyone.
By the year 2012, the company also started operations in the overseas centers and it has opened the franchises in the UAE, Sri Lanka, Qatar and UAE which gained rapid success. It also expanded to some of the other countries such as New Zealand and Australia. With the expansion of the brand, it started the acquisition of the foreign based brands as well.
The Ups and downs –
It acquired MapleOs in the year 2015 to expand the operations of the brand in the overseas countries as well. 2017 was the most profitable year for the country in which it earned profits in all the countries where it was operational. The revenue of the company grew by around 86% in that year.
But after the acquisition of the company MapleOS, the company suffered operational losses and had to cut down the number of employees by 300. The year 2016 was particularly bad for the company as it had the slowest growth rate in that particular year. The company made immense profits in the year 2017 but it suffered a cyber attack in the May 2017 which was quite a low for the company.
The future of the company –
The company is expected to maintain its hierarchy in the market. but with the emergence of other top brands such as Swiggy, Foodpanda amongst others, the competition is expected to scale new heights.
On the other hand, the market is growing very quickly and the demand for the online food delivery is growing thick and fast. With Zomato being such a reputable brand, almost everyone checks the same while placing the orders for the food.
Awards and recognitions –
The other thing which makes the company so special is that it has received tremendous amount of love from people around the globe. Here is a look at some of the awards and recognitions of the brand –
- Startup of the year at ET 2014 awards was given to Zomato.
- Asia Pacific Gold award winner in the year 2015.
- Popular Alshaya award winner at user’s choice award was given to Zomato