Zomato began in 2008 as Foodiebay, a website launched by Deepinder Goyal and Pankaj Chaddah to solve the problem of long lines at their office cafeteria by posting menus online. It expanded to list restaurants across Delhi and registered as a company. After growing traffic and interest, the founders left their jobs in 2010 to focus on Zomato full time. It changed its name in 2010 to Zomato to avoid legal issues and ambiguity, and by 2012 had expanded to over 40,000 restaurants across 12 cities in India and internationally. Zomato's success is attributed to its first mover advantage, robust business model, strong team, and continuous innovation evolving from ratings and reviews to
Zomato began in 2008 as Foodiebay, a website launched by Deepinder Goyal and Pankaj Chaddah to solve the problem of long lines at their office cafeteria by posting menus online. It expanded to list restaurants across Delhi and registered as a company. After growing traffic and interest, the founders left their jobs in 2010 to focus on Zomato full time. It changed its name in 2010 to Zomato to avoid legal issues and ambiguity, and by 2012 had expanded to over 40,000 restaurants across 12 cities in India and internationally. Zomato's success is attributed to its first mover advantage, robust business model, strong team, and continuous innovation evolving from ratings and reviews to
Zomato began in 2008 as Foodiebay, a website launched by Deepinder Goyal and Pankaj Chaddah to solve the problem of long lines at their office cafeteria by posting menus online. It expanded to list restaurants across Delhi and registered as a company. After growing traffic and interest, the founders left their jobs in 2010 to focus on Zomato full time. It changed its name in 2010 to Zomato to avoid legal issues and ambiguity, and by 2012 had expanded to over 40,000 restaurants across 12 cities in India and internationally. Zomato's success is attributed to its first mover advantage, robust business model, strong team, and continuous innovation evolving from ratings and reviews to
Zomato began in 2008 as Foodiebay, a website launched by Deepinder Goyal and Pankaj Chaddah to solve the problem of long lines at their office cafeteria by posting menus online. It expanded to list restaurants across Delhi and registered as a company. After growing traffic and interest, the founders left their jobs in 2010 to focus on Zomato full time. It changed its name in 2010 to Zomato to avoid legal issues and ambiguity, and by 2012 had expanded to over 40,000 restaurants across 12 cities in India and internationally. Zomato's success is attributed to its first mover advantage, robust business model, strong team, and continuous innovation evolving from ratings and reviews to
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A CASE STUDY IN MARKETING
SUCCESS
PRESENTED BY: VANSH 210101010001 INTRODUCTION Started In- July 2008, Delhi NCR. Presence in more than 24 countries. Founded By: Deepinder Goyal, Pankaj Chaddah Initially named- "FoodieBay“ In November 2010, it was renamed as “ZOMATO”. Category - Mobile Application Based Sector - Food & Restaurant guide THE BEGINNING Deepinder Goyal was working as a management consultant and Pankaj Chaddah was working as Senior Analyst at Bain. At Bain, they saw a long line in office canteen to get a glance at a menu card. One day they thought of finding a solution to this problem and the idea thought germinated in the form of Foodiebay. ➤ Foodiebay scanned the menu of the restaurants and posted it on the company private network. ➤ Soon the employees of Bain started using the website and thus saving their time and in return bringing traffic to the website. CONTD. In 2008, he just scanned the menus and uploaded. He also involved his friend and colleague Pankaj Chaddah. After great response, he started doing that for Delhi NCR Registered company in name "Foodiebay.com“ It had around 2 million visitors and 8000 restaurants listed. Restaurant started approaching for Advertisement. In 2010, he left Bain & Co. for pursuing it Full time Management lesson #1
Business is all about finding problems
and providing solutions
Its not Just for maintaining lifestyle.
(Think why you are doing it?)
Management lesson #2
If you are passionate enough, You
always find a way to do it.
Don't give excuses.
INITIAL FUNDING Management lesson #3
When you get Opportunity,
Jump on it. CHANGE OF NAME Foodiebay.com had 2 problems: It has Food in its name, Which Limits the Scope It is similar to Ebay.com, which might invite legal issues. Search began for the name It Stopped in Zomato “Zing+Tomato” Domain was available for $10,000 so Goyal Fizzled but with support of Sanjeev, he finally bought it. EXPANSION By 2012, it had over 40,000 restaurants in 12 cities Have over 1000 Advertisers In Sep 2012, it Entered in Dubai Set up local offices & Hired Local Staff Led by country Managers After being Global leader in niche, they decided to enter into other segment like Food Delivery & Table booking. Business Model of Zomato COMMISION FROM PARTNERS ADVERTISEMENTS FROM PARTNERS EVENT PROMOTIONS
EVENT TICKET SALES
CONSULTANCY BUSINESS How Valuation is derived in loss making companies? No. of Users No. of Transactions Gross order Value Total cities being served Total countries being served Total partner Hotels and Restaurants Future growth prospect EVOLUTION Rate and Review Restaurants: During its initial days, Zomato was largely a website which listed restaurants with basic details, where users were able to rate the restaurants listed on their website. This feature was a big hit among foodies as they could now rely on peer ratings and not ratings given by food critics Filters for search: The first iteration of this feature consisted of users entering the city and locality in the search bar where they wished to find restaurants and decide a restaurant they would eventually prefer to visit. Online Ordering :Zomato has evolved from a ratings website to a food tech giant. This has been possible due to adopting an agile framework and an excellent leadership with a vision. After creating a large user base of users and restaurants, they ventured into the food delivery business. Zomato's Future Plans: Zomato has discussed about setting up the Zomato Infrastructure Services (ZIS). Through this, the company plans to work with current restaurant owners to expand their business to more locations without incurring any fixed cost. REASONS FOR SUCCESS First Mover Advantage: Zomato was the first player in the industry to unveil the concept of online restaurant discovery in India. Robust Business Model: Zomato carved a unique, profitable business model for itself right from the beginning, which helped them sail through even during tough times, including the period of 2015-2016, when the startup was experiencing significant losses Strong Team: Well, in case you happen to interact with Deepinder Goyal anytime about his brand's journey, you would notice he would never miss talking about his people. Out of the two things that he usually owes his success to, one of them is his ambitious team, which he created right from the beginning, and eventually kept expanding Continuous Innovation and Evolution: The best thing about Zomato has been that it never stopped whether it was expanding [nationally or internationally], designing new offerings, raising funds, acquisitions, marketing, engagement, etc
