Zomato

Online food delivery platform Zomato Ltd said its Co-founder and Chief Technology Officer Gunjan Patidar resigned from the post on Monday. Patidar was one of the first few employees of Zomato and built the core tech systems for the company, it said in a regulatory filing. "Over the last ten plus years, he also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable," the company said. It, however, did not disclose reasons for his resignation. Read Also Zomato goes desi, app now available in Hindi and these local languages Swiggy's losses jump 2X to Rs 3,629 crore in FY22, layoffs coming In November last year, another co-founder of the company, Mohit Gupta , had resigned. Gupta, who had joined Zomato four-and-half years back, was elevated to co-founder in 2020 from the position of CEO of its food … [Read more...] about zomato: Zomato Co-founder, CTO Gunjan Patidar resigns

BharatPe co-founder and managing director Ashneer Grover made some not-so-pleasant revelations about Zomato founder and CEO Deepinder Goyal and Blinkit's Albinder Dhindsa. Speaking on a podcast, 'Vagerah Vagerah', Grover claimed that the duo would buy luxury cars after funding rounds. Zomato acquired the 10-minute delivery platform Blinkit for Rs 4,447 crore (about $568 million). While admitting that he too has four cars, he said that several entrepreneurs like him have the same fetish for luxury vehicles. "I am passionate about cars and it's not just me. Jaise Zomato ka founder hain Deepinder, sabse zyada shauk usko tha. Jab bhi uska round raise hota tha uski nai sports car aa jati thi toh hum bade chidte the (Deepinder Goyal was obsessed with luxury cars and would buy a new sports car after every fundraise and we used to get upset)," he said. Blinkit's Dhindsa also bought a Range Rover after a funding round, Grover claimed. Talking about superstition, Grover … [Read more...] about grover: Zomato CEO Deepinder bought sports cars after funding rounds: Ashneer Grover

As reports surfaced that hundreds of high-end restaurants with multiple outlets in Delhi-NCR have delisted from Swiggy Dineout amid deep discounting concerns, the food aggregator said that only a handful of restaurant partners have expressed their desire to delist from the platform. Most of those cafes and restaurants have also delisted themselves from other online food delivery platforms like Zomato . Only 20 brands with nearly 400 outlets have delisted from Swiggy Dineout , and one of those brands even has nearly 250 dining outlets alone. Your Story publication earlier reported, quoting from the National Restaurants Association of India ( NRAI ) sources, that at least 400 brands and more than 900 dining outlets across 13 cities in the country have sent delisting notices to Swiggy in the last two weeks. Read Also Swiggy ordered to pay Rs 2,000 for Rs 3 charged as extra GST Large restaurants raise discounts to fend … [Read more...] about dineout: Small number of restaurants want to leave DineOut, clarifies Swiggy

Online food delivery platform Swiggy 's losses doubled to Rs 3,629 crore in FY22 compared to Rs 1,617 crore in the last fiscal year. Total expenses went up 131 per cent to Rs 9,574.5 crore in FY22. According to its annual financial statement with the Registrar of Companies ( RoC ), during the last quarter of FY22, Swiggy turned "decacorn" (with a valuation of $10 billion and above) after raising a $700 million round led by Invesco . Meanwhile, Swiggy's revenue grew 2.2 times to Rs 5,705 crore during FY22 as opposed to Rs 2,547 crore in FY21. According to Entrackr, outsourcing support cost accounted for 24.5 per cent of the total expenses of the company. This particular cost increased 2.3 times to Rs 2,350 crore in FY22 from Rs 1,031 crore in FY21. Its advertising and promotional expenses surged 4 times to reach Rs 1,848.7 crore during FY22, according to the report. Reports surfaced last month that Swiggy may lay off more than 250 employees or … [Read more...] about swiggy: Swiggy’s losses jump 2X to Rs 3,629 crore in FY22, layoffs coming

Delhivery ’s stakeholder relationship committee has approved the allotment of 170,676 shares against the exercise of vested employee stock options granted under its employee stock ownership plan (Esop) of 2012 and 2020, the new-age logistics company said in a regulatory filing. The company has projected a cost of Rs 566 crore on Esops that are already granted over the next five years, of which Rs 282 crore is the projected cost for the ongoing fiscal year. As of September 30, the Gurugram-based company had 34.65 million Esops, of which 30.24 million are unvested. Read Also NCLAT refuses to grant stay on CCI order on Google's appeal RailTel ties up with tech firm to monetise Wi-Fi project covering over 6,100 stations In addition, the company has 43.45 million ungranted Esops, representing almost 5.4% of its shareholding. During its second-quarter earnings call in November, Delhivery’s chief financial officer Amit Agarwal said that … [Read more...] about Delhivery Shares: Delhivery approves allotment of 1.7 lakh shares against exercised Esops