Also, the company will pick up a 19.48% stake for about ₹112.20 crore in adtech company Adonmo and will buy a 5% stake for ₹37.38 crore in B2B software platform UrbanPiper Technology.
“Both UrbanPiper and Adonmo investments are synergistic to our core business and will help accelerate growth of these companies which will help in filling important gaps in the food ordering and delivery ecosystem in India,” Zomato said in its filings.
Continue reading your story on the app
Continue reading your story in the newspaper
Government to float Eol for IDBI Bank by June-end
Currently, it enjoys certain relaxations being a state-run bank
Govt schools get 'happy' feedback
National survey finds most students of govt schools like going for classes and feel safe
Compete with China to keep world order, says US state secy Blinken
US Secretary of State Antony Blinken called on Thursday for vigorous competition with China to preserve the existing global order but said the United States did not seek a "Cold War."
Akhilesh Yadav picks ally Jayant as RS candidate
Javed Ali Khan to be party's third candidate for the upper house
Soon, visitors can 'immerse' in history & heritage at site museums
THE Archeological Survey of India (ASI) has decided to take a giant leap towards converting museum visits into an interactive and immersive experience.
Parts of Srinagar remain shut for 2nd day, police arrest 10 for stone-pelting
FOR the second consecutive day, parts of Srinagar observed shutdown over the life sentence awarded by the NIA court to separatist leader and JKLF chairman Yasin Malik.
Modi terms KCR a 'superstitious person'
PM dismisses TRS as a 'family party', expresses hope that BJP will come to power in T'gana after next elections
Bengal proposes to make CM chancellor of varsities
THE West Bengal cabinet on Thursday approved a proposal to appoint Chief Minister Mamata Banerjee as the chancellor of all state government universities.
Fiercest battle rages in east, says Ukraine
4 civilians die in Donetsk shelling, another four in Kharkiv; Moscow accuses West of stopping grain-carrying vessels
'BJP, CONG PLAYING FRIENDLY MATCHES': BJP VETERAN JOINS AAP
JAGMAL Vala, a prominent BJP leader from the religious hub Somnath in Junagadh district joined the Aam Aadmi Party on Thursday. Vala had met Arvind Kejriwal in Delhi a few days ago.
Lindy Effect & Stock Market
Investors often look at various theories to understand and predict stock market behavior. Lindy Effect is one such theorised phenomenon which helps explain certain aspects of choosing stocks. Shreya Chaware deep dives into the Lindy Effect and deliberates on whether it can be useful in the investing process
As losses mount, Zomato turns focus to conserving cash
Won't make fresh investments in q-comm segment
Zomato's 'The Fast And The Furious' Step
The 10-minute food delivery model could upend India’s quick-commerce space and propel the ‘one-stop deliverer’ concept
Swiggy Vs Zomato
The Foodtech Duo Take Two Different Paths To The Same Destination, But More Often Than Not, Find Themselves Crossing Each Other. And Now, They Are Squaring Off In Realms Beyond Their Comfort Zone Of Food Delivery. What Will It Take To Win?
Swiggy & Zomato back UrbanPiper funding
START-UP FUNDING
जोमैटो की सख्त रवाद्य नीति 3 मई तक टली
पहले यह नीति 18 अप्रैल से होनी थी लागू
Zomato defers policy in truce talk
Within hours of restaurants calling Zomato's new food quality policy one-sided, the delivery platform has stepped up communication with its partners to signal peace and prevent any hasty action.
Will comply with CCI suggestions, says Zomato
ZOMATO on Tuesday said that it would work closely with the Competition Commission of India (CCI) and assist them with their investigation in the allegation of anti-competitive practices.
Is Zomato's 10-minute delivery plan viable?
Experts say that this model might work only in grocery space
‘No future of 10-min food delivery'
VCs, restaurant owners point out many challenges in the 10-minute delivery services