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Business News/ Companies / News/  Zomato looks to become profitable by end-2020
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Zomato looks to become profitable by end-2020

The company's current cash burn is $15 million per month
  • Zomato recently announced plans to raise up to $600 million in a new funding round
  • Earlier in October, Zomato had said it has witnessed over three-fold jump in revenue. (Photo: Mint)Premium
    Earlier in October, Zomato had said it has witnessed over three-fold jump in revenue. (Photo: Mint)

    New Delhi: Online restaurant guide and food ordering platform Zomato is looking to be a profitable company by the end of 2020, a top company official said.

    "In a year's time, we should be a profitable company. We have been able to reduce our cash burn by around 70 per cent from what it was seven months ago," Zomato founder and CEO Deepinder Goyal told PTI.

    The company's current cash burn is $15 million per month, he added.

    Earlier in October, Zomato had said it has witnessed over three-fold jump in revenue to $205 million (around 1,458 crore) for April-September 2019 from $63 million (around 448 crore) in the same period a year ago.

    The company recently announced plans to raise up to $600 million (around 4,277 crore) by next month in a new funding round.

    When asked about the segments the company will be focussing on for growth, Goyal said it will be on all segments.

    The company is making all efforts to achieve its mission, 'Better Food for Everyone', he added.

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    This story has been published from a wire agency feed without modifications to the text.

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    Published: 08 Dec 2019, 10:58 AM IST
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