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Zomato hits US $100 mn revenue run rate, 40 pc growth in last two months, says CEO Deepinder Goyal

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Foodtech startup hit the US $100 million revenue run rate mark in this last month of the current fiscal, Founder and CEO tweeted on Thursday.

Zomato hits US 0 mn revenue run rate, 40 pc growth in last two months, says CEO Deepinder Goyal
Zomato is expected to grow the online ordering business significantly to form almost half the revenue share in the long term

However, this is not the actual annual revenue of the company as financials will be filed by the end of the financial year (March end).

Zomato had earlier brought in US $49 million in revenues as of the last financial year, with online ordering forming about 18 percent of that pie, earning the firm US $9 million.

Deepinder Goyal did not the attribute the success in the tweet but the announcement on Twitter comes just after a few days of announcing that “it’s been around 3 months since the brand launched in India. And needless to say, the journey has been phenomenal so far. During this time period, 150,000+ users have subscribed to Gold and 2000+ restaurant partners have joined the bandwagon. The numbers, to put it succinctly, paint a happy story – one which the brand is incredibly proud of.”

The firm recently saw a key shift in management roles after co-founder Pankaj Chaddah quit the firm. The Info Edge backed firm raised US $200 million from Ant Financial, the payments affiliate of Chinese e-commerce giant Alibaba, in a deal that valued the firm at US $1.1 billion in February.

Zomato is expected to grow the online ordering business significantly to form almost half the revenue share in the long term. To that end, the firm has also been significantly ramping up the share of self-fulfilled deliveries for the business.