According to the annual report of Info Edge India Ltd., NCR based startup, Zomato has narrowed its loss from ₹590.1 Crore to ₹389 Crore in the financial year 2016-17. This difference is the result of proper resource planning and to create an effective strategy. After this, the startup has become the first Indian internet unicorn in food technology sector. They are valued at more than ₹6,460 Crore ($1 billion).
The reports stated that “the company has generated revenues of ₹332.3 crore for Financial Year 2017 and this will come up to 80.6% from ₹183.9 crore in the last year. Overall, the company is expected to deliver good growth in revenues across brands, profitability of the brands are expected to improve, but at the aggregate level the company will have to keep on investing in products and people to maintain leadership in a market, which is fast getting exposed/prone to competition,”
Apart from this, Zomato is also planning to acquire last-mile delivery startup Runnr, although the company hasn’t spoken about it yet.