Zomato has officially pulled out of all international markets
- Zomato has identified three geographical segments — India, UAE and the rest of the world.
- The ‘Rest of the World’ category includes the US, UK, Singapore, Lebanon and others.
- The company has decided to focus on India as it is its biggest market and UAE, which is profitable.
Zomato has pulled the plug on almost all its international businesses, including the United States (US), United Kingdom (UK), Singapore and now Lebanon.
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The food aggregator business continues to operate in the United Arab Emirates (UAE), but as a dining-out business and not food delivery one.
Zomato’s chief executive (CEO) Deepinder Goyal, said, “We are also shutting down our operations in Lebanon, which is the only international business we were left with (other than dining-out business in UAE) after shutting down the rest of our international operations last year.”
AdvertisementZomato has identified three geographical segments as reportable segments, as per Zomato’s quarterly financial statements released on November 10.
The geographical segments comprise:
2) United Arab Emirates (UAE)
3) Rest of the World (ROW) (such as Australia, New Zealand, Philippines, Indonesia, Malaysia, USA, Lebanon, Turkey, Czech, Slovakia, Poland, Qatar, Ireland)
India is the biggest market for Zomato in terms of revenue, followed by the UAE.
Source: Zomato’s financial statement
|Markets||July to September 2020*||July to September 2021|
|India||₹389.7 crore||₹981 crore|
|UAE||₹25 crore||₹33 crore|
|ROW||₹11 crore||₹9.7 crore|
*Note: Zomato has been shutting down ROW operations since last year.
The closure of the Lebanon market comes with the suspension of Zomato Foods Private Limited and Zomato Ireland Limited (Lebanon branch, the company said in its financial statement.
AdvertisementThe company has also shut down Singapore-based Zomato Media Private Limited (ZMPL), UK-based Zomato UK Limited (ZUL) and US-based subsidiary Nextable Inc in the last quarter.
According to the company’s spokesperson, this is a part of Zomato’s “clean up drive”.
UAE is the only profitable market for Zomato at the moment, at least before paying the taxes.
Source: Zomato’s financial statement.
|Market||July to September 2020*||July to September 2021|
|India||-₹103 crore||-₹443 crore|
|UAE||-₹96.2 crore||₹15.8 crore|
|ROW||-₹30.6 crore||-₹7.7 crore|
Advertisement*Note: Zomato has been shutting down ROW operations since last year.
Zomato has decided to focus on “growth geographies”, which are currently less profitable than the more mature cities. The company also plans to invest close to a billion dollars in Indian startups over the next two years to expand its ecommerce network.
The company intends to create a similar network like Sanjeev Bikhchandani-led InfoEdge and Chinese business conglomerate Alibaba by placing bets on young startups.
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