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Zomato earns revenue up to $206 million

Zomato apprised that the company has a run rate of $ 350 billion in FY18-19.
BY BEx Bureau
BusinessEx
Apr 08, 2019

The Indian food delivery platform, Zomato has earned revenue up to $206 million in the financial year 2019. The present revenue figure is considered a three-fold jump in a year.

In Fy18-19 report, Zomato apprised that the company has a run rate of $ 350 billion. In essence, the run rate is the estimation of the year considering the monthly revenue generation, as reported by the Indian daily news, The Economic Times.

The Gurgaon-based online food delivery company is currently backed by Info-Edge Company, Sequoia Capital and Ant Financial. The company states that business costs have incremented by six-fold, rising from $80 million at the beginning of FY18 to $500 million, at the end of FY18-19.

The annual financial report does not include a breakup of costs, but a slice of capital was due to meet the food delivery businesss expenses. The excessive incurring on promotion and marketing plans are accounted for in the losses.

Currently, Zomato is operating in more than 10,000 cities and more than 1.4 million restaurants are registered with it. More so, the online food delivery platform is reckoned to be a leader in food search and discovery in 19 out of 24 countries.

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