Zomato launches table reservation service Zomato Book2 min read . Updated: 14 Jan 2016, 10:45 PM IST
Zomato ventured into table bookings with the acquisition of US-based online table reservation platform NexTable, since renamed Zomato Book
New Delhi: Zomato Media Pvt. Ltd has introduced its table reservation business in the country as the restaurant search and review website eyes additional sources of revenue and looks to focus on the high-margin segments.
In April, Zomato ventured into table bookings with the acquisition of US-based online table reservation platform NexTable, since renamed Zomato Book.
Zomato Book, which allows users to book tables via the app and website, was launched in India a month ago and is already a cash flow-positive business, according to Deepinder Goyal, co-founder and chief executive officer, Zomato.
The company is already working with 200 restaurants in the country and about 500 across the world, including the Kempinski Group in Dubai and Ajman; Hard Rock Cafe; The Hilton and The Conrad in Istanbul, and Universal Studios in the US. It aims to sign up about 10,000 restaurants in India and about 30,000 across the globe by March 2017.
The Gurgaon-based firm makes money by charging a monthly subscription fee from restaurants, and claims that table bookings is a high-margin business. It did not divulge any details on how much restaurants pay for the service.
“We understand that restaurants want—and need—integrated solutions; that’s why we’ve spent countless hours designing an ecosystem, not just a single app. Zomato Book integrates with our other products to ultimately give restaurant managers a seamless solution for enhanced consumer delight. Hundreds of businesses around the world, ranging from small to 1,000-plus seat restaurants, and even theme park resorts, are already using Zomato Book," said Goyal.
According to the company, since the soft release of Zomato Book in November, restaurants have used the product to seat over 2.5 million guests. Zomato Book also gives restaurant managers a real-time update on what is happening inside the restaurant, enabling them to maximize their seating capacity.
“This allows them to make their services more effective, and frees up resources... restaurants can also access data from a customer’s past visits, helping them personalize the customer’s future dining experiences," said Goyal.
The company has a sales team of over 200 people working on Zomato Book across the world.
Zomato, which ventured into the online food-ordering business in April, is targeting a revenue of about $5 million in March. The company is aiming for a monthly increase in revenue of $400,000 every month and the growth is expected to be largely driven by the online ordering business in India and the UAE, Mint reported in December.
In November, India saw close to 185,000 orders being placed via Zomato with an average ticket size of ₹ 500. The company in November had said it will clock about $30 million in revenue this fiscal year, compared with about $16 million a year ago.
Founded in 2008 by Goyal and Pankaj Chaddah, Zomato is backed by Infoedge, Singapore’s Temasek Holdings Pte, Sequoia, and Vy Capital. The company was valued at a billion dollars in September when it raised $60 million in fresh capital, largely from Temasek.