Zomato in talks to raise $400 million at $2 billion valuation
The development comes as Zomato’s arch-rival Swiggy just a day ago announced a fresh funding of $210 million, the largest by an online food ordering startup. Zomato, which is present in 23 countries, earns revenues from advertising and food delivery. Zomato almost doubled its revenue to Rs 399 crore in the year ended 31 March 2017 and saw a drop in losses to Rs 389 crore from Rs 590 crore, a year ago. Currently, Zomato clocks about $13.4 million in revenues per month.