Online food discovery and delivery platform Zomato has recorded about 45 per cent increase in revenue in FY18. Revealing the revenue numbers, the Alibaba-backed company has claimed $74 million topline in FY18 as compared to the previous fiscal.
While the company has a burn of about $11 million in the recently concluded FY, the company claims that it splurged more than half of the aforementioned amount ($6 million) in February and March 2018 as it decided to double down on growth.
Importantly, 30 per cent of the revenue ($22.2 million) has come from food ordering business. Last fiscal, food ordering had contributed 18 per cent of the overall revenue made by the company.
Folks, short form annual report for the year gone by (FY18) is now up on the @zomato blog – read it here – https://t.co/LUpeOrHeOs pic.twitter.com/ySwfGkmSPt
— Deepinder Goyal (@deepigoyal) April 2, 2018
The company also has hit 5.5 million monthly delivery mark in the last month.
Unlike its rival Swiggy, Zomato has been building subscription-based layers through Zomato Gold and Treat. So far, it claims to have over 280K paid subscribers.
Zomato Gold is a membership programme for premium dining out and social drinking experiences while Zomato Treats, at a subscription fee of Rs 249, lets subscribers avail a free dessert with every meal they order across 16 cities in India.
It has been experimenting with various kinds of programmes to improvise its offerings and maintain a loyal customer base. The company’s blog post also highlights that 12 per cent of its monthly revenue is driven by Gold subscription.
Meanwhile, during FY17 Zomato’s revenue rose 80 per cent to touch $49 million. Notably, its cash burn fell to $12 million from $64 million in FY16.
Nearing its volume to rival Swiggy, the company points out that food delivery business in India grew 48 per cent in March 2018 over the previous month in terms of volume and by 55 per cent in terms of revenue.
Back on strong growth of online ordering and subscriptions (via Gold and Treat), Zomato also has projected to close $100 million in annual revenue run rate by the end of current fiscal.
