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Zomato looks to become profitable by end of 2020

The company's current cash burn is USD 15 million per month.

Published: 08th December 2019 05:06 PM  |   Last Updated: 08th December 2019 05:06 PM   |  A+A-

Zomato

For representational purposes

By PTI

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.

ALSO READ | Zomato eyes 20 crore users in India: CEO Deepinder Goyal

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

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

The company recently announced plans to raise up to USD 600 million (around Rs 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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