Zomato is an Indian multinational restaurant aggregator and food delivery company. It was founded in 2008 by Deepinder Goyal and Pankaj Chaddah. Zomato is headquartered in Gurgaon, Haryana, India. As of December 2018, Zomato had a network of over 1.4 million restaurants in 24 countries.
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On October 31, Zomato’s share price reached an all-time high of Rs 2,685.65 on the BSE. The positive sentiment was driven by its strong quarterly results, which showed that it had turned profitable on a consolidated basis. This is an impressive achievement for a company struggling to keep its head above water just a few years ago.
In 2013, Zomato raised $60 million from Sequoia Capital and Info Edge. This was followed by a $1 million Series A funding from Vy Capital in 2014. The company then got $222 million from Alibaba Group in 2015.
In April 2015, Zomato raised $60 million from Indian billionaire Sequoia Capital and Info Edge (India). In November 2017, Zomato raised $210 million from Ant Financial at a valuation of $1 billion. In January 2018, Zomato Acquired Bengaluru-based Lispa Foods, the company behind the online ordering platform Tonguetip. In May 2018, Zomato raised another $200 million from Glade Brook Capital Partners at a valuation of $2.5 billion.
Zomato Share Market Analysis
Zomato has a buy call from JM Financial NSE -1.85% with a target price of Rs 115. Zomato’s present share market price is Rs 63.95. Through thorough analysis, it has been observed that Zomato Ltd.’s price will achieve its target in one year. Zomato’s share price is up nearly 800% this year.
Zomato reported a Centralized Total Income of Rs 1350.00 Crore for the quarter ended 31-03-2022, up 7.17 percent from the previous quarter’s Overall Income of Rs 1259.70 Crore as well as up 79.81 percent over the same period last year’s Overall Income of Rs 750.80 Crore. The company posted a net profit post-tax of Rs -359.90 crore in the most recent quarter.
Approximately Rs. 76 is the current Zomato IPO price. In 4QFY22, Zomato reported significant improvements in all key operational and financial parameters. The clarifications and management’s commitment to addressing investor concerns via a shareholder’s letter and a post-results conference call were even more critical.
In 2022, Zomato stocks are expected to be valuable. The online food delivery and restaurant listing platform have seen immense growth in recent years, and it shows no signs of slowing. Zomato is a popular choice for foodies worldwide. As the company expands, stocks in Zomato are expected to become more valuable.
Also Read: Deepinder Goyal: Delving into the Business Strategies of Indian Food Delivery King