According to sources Food delivery and restaurant discovery company Zomato has recorded $206 million (about Rs 1,339 crore) in revenue for FY19, a three-fold jump in top line on-year, driven primarily by its core food delivery business. Meanwhile in its annual report for 2018-19, the Gurgaon based company said its revenue run rate was at $350 million. A run rate is a projection for the year keeping in mind the highest monthly revenue number.
Monthly burn is estimated at $24.5 million, according to calculations by ET based on the overall burn figure of $294 million. Zomato which has a presence in an estimated 10,000 cities across the globe with over 1.4 million active restaurants on its platform, claims to be market leader in search and discovery in 19 of the 24 countries it is present in.
Moreover the annual report also said it has 70 million active users on its platform, allied with 5 million new user registrations and 11 million app installations. The Deepinder Goyal-led company saw delivery revenue for the year at $155 million, up more than 300% compared to $38 million it recorded in FY18, a development which also signals the increasing spending power of the Indian urban consumer, along with greater acceptance of the service.
London-based AdiGro Group to restart Jet Airways' operations by July 1 London-based AdiGro Group, the parent company of AdiGro Aviation has offered to restart the Jet Airways' operations by July 1. The company which is one of the unsolicited bidders for Jet Airways has proposed to resume its operations with eight to nine thousand employees and 70 aircraft. Sanjay Viswanathan,
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