Home / Companies / News /  Zomato's Deepinder Goyal aggressively conserving cash as losses widen
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Zomato's founder and CEO Deepinder Goyal said conserving cash is a priority right now and the company is being aggressive about it as losses widened in the three months to March.

The company's expenses nearly doubled as loss widened to 360 crore, although revenue jumped 75% during the January-March period.

Zomato has about 12,200 crore unrestricted cash at this point and it said the capital needs are currently limited. "We are well funded to fuel all our growth plans in all our businesses. There is no need/plan to raise any further capital at this stage," the company said.

The company has also said there is currently no plan for any more minority equity investments at this stage. As far as quick commerce is concerned, it had given an upper bound of $400 million investment in the next two years (CY22 and CY23).

As of now, Zomato is said to be on plan to stick to this outer limit.

On the Blinkit M&A deal, apart from short term loan of up to $150 million to fund their short term capital needs, the company said there is nothing much to share at this point.

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