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Zomato turns profitable in six countries out of 23

Indian Start-up Zomato On Monday Claimed That It Had Broken Even In Key Markets Including India And Is On Track To Make A Profit As Early As June Next Year.

PTI | Updated on: 08 Feb 2016, 12:58:16 PM

New Delhi :

Indian start-up Zomato on Monday claimed that it had broken even in key markets including India and is on track to make a profit as early as June next year.

Notably, Zomato, which makes money through advertising and its delivery service, seeks $200 million in funding.

Restaurant search and food delivery service on Monday said that it had hit operational break-even in India, the UAE, Indonesia and three other markets in the Middle East and Southeast Asia.

According chief executive Deepinder Goyal, “The fundamental model of our business is that in mature markets we should make profits and they shouldn’t need any more outside money to grow.”

Zomato also scaled back its delivery operations in four Indian cities last month and laid off 300 employees last October.

The report also comes in wake of the quitting of Tanmay Saksena, Chief Product Officer at Zomato Media.

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First Published : 08 Feb 2016, 12:47:00 PM