How many times have we heard stories about a small company gaining momentum and becoming a million-dollar firm? The Zomato Success Story is one such example! Zomato is one food delivery app that helps us to have a quick meal anytime! From Foodiebay to Zomato, the journey is more exciting than the destination. So in this blog, let us learn why is Zomato successful!
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Zomato! The mere word places a range of lip-smacking dishes before you – exotic Biryani, Pizza, Malai Kofta, Shahi Paneer, Chole Bhature, Malai Paan, Momos, Basket Chaat, and what naught! You name it, and you have it! Zomato is there to satiate your cravings. Whether you spoiled the cake you had planned for the party, or you have to give a treat for your promotion, Zomato is just a click away!
You do not have to think about the arrangement of food! You just have to pick up your smartphone, select the dish and make the payment! Zomato will do the rest for you in just a few minutes! Your favorite food will reach your doorstep without any hassles! And what's more, you get big discounts in the process! So it is a win-win situation for Zomato and its consumers! And so we can understand why is Zomato successful! Can we not?
Why is Zomato successful? Well, we are here to know that only. So, Let's know about the success story of Zomato!
Success is not for people who just think about it! Success comes to those who know how to attain it and sincerely work for it! In the modern world, you need to have brains to achieve success, but more than that, you need to have a perfect understanding of the various trends prevalent today. Zomato founders Pankaj Chaddah and Deepinder Goel were well aware of the demands of the consumers! They also knew how to gauge it!
They knew that food has to be that one thing that attracts people easily. They had the knack to instantly pick up the need of the hour! People crave good food, whether at home or in the office. But either they do not have time for cooking, or they do not have the money to buy it! At the same time, the development of innovative technology like food delivery applications gave wings to their dreams!
Hailing from IIT Delhi, Pankaj Chaddah and Deepinder Goel became friends while working in Bain and Co, a consulting firm in Delhi. While working there, they saw many people waiting for a long time to get a glimpse of the menu card. They used to call different restaurants. It planted an idea in their mind! And they came up with the solution of launching a directory of restaurants online. They uploaded the soft copies of the menu card on the website for the convenience of their fellow workers. It naturally saved a lot of time. The website became very popular.
They extended this website in 2008 and converted it into a complete food listing website called 'FoodieBay'! It started in Delhi and then expanded its outreach to Mumbai and Kolkata. With the application gaining popularity, Chaddah and Goel did not wait to give it a makeover.
This incident is just a triggering point in this case study about the success story of Zomato.
Pankaj Chaddah and Deepinder Goel thought of renaming ‘Foodiebay’ to make it more attractive and easy. The people also confused it with eBay, so they had to change the name. Thus, in 2010, arrived ‘Zomato,’ the word which rhymed with Tomato! Tomato is easily identifiable with food, so, ‘Zomato’! The ‘Z’ says Deepinder Goel adds an extra zing to the title! So the new name. ‘Zomato Success Story’ took over and now is reigning as an Indian multinational restaurant aggregator and food delivery firm!
It is the most important part of the Zomato Success Story! Zomato Earns its revenue from the Advertisements. In addition, Zomato is attached to most of the restaurants in a specific city. They give commissions for bringing orders from customers. This way, Zomato enhances its profit from the application!
Deepinder Goel and Pankaj Chaddah, both wanted to make the app more simple and easily accessible to users. They wanted to build a new app that included all these aspects for the people! But innovation requires funding! The founder of the well-known job search Naukri.com Sanjeev Bikhchandani got fascinated by Zomato and invested about $1 million through Info Edge India. The same investors invested $3.5 million more in the development of the app.
Another problem that the founders faced was covering the major cities and including all the main restaurants. It is a big hurdle that continues to pose a problem for the investors, but they are trying hard to fulfill the wishes of the customers.
Zomato has introduced a new tagline, 'Every Meal Matters'! The customer support team is proactive. It cares for every order placed by the customer. The customer is more than happy, and they love ordering through Zomato!
In addition, Zomato played a big role in helping people during the Pandemic. When most restaurants were shut down, Zomato was delivering food without any hassles! Truly it has lived by its mission in the real sense - "Better Food for More People!"
Zomato has experienced a dent in the Zomato Success story as it saw a net loss of Rs 430 crores for the financial year 2021-22. But we cannot ignore that it is still one of the most trustworthy and popular food delivery applications among people! More so, the company has ventured into dining out a business by the name of Zomato Pro. It has garnered 1.7 million subscribers. The firm is looking to rapidly expand its B2B Supplies business, which also gives a ray of hope for this fascinating food unicorn! So let us keep our fingers crossed and enjoy the bliss of taste through Zomato! Happy Eating!