Food delivery platform, Zomato has rolled out its ‘District’ app on iOS and Android platforms, three months after announcing its launch. The app enables customers to discover and reserve tables at restaurants, book movie tickets, sports events, and live performances.
District to be 3rd largest B2C business – CEO Deepinder Goyal
According to Zomato CEO Deepinder Goyal, the company aims to build its going-out segment as its third-largest B2C business. “Our dine-out business is operating at a run-rate of over $500 million annualised gross order value,” Goyal said.
Continue Exploring: Zomato introduces ‘Book Now, Sell Anytime’, allows users to resell event tickets
Notably, the ‘District’ app is part of Zomato’s strategy to stay ahead of competitors through innovative features. Recently, the company launched “Book Now, Sell Anytime,” allowing users to buy event tickets in advance and re-sell them on the app. Additionally, Zomato introduced “Food Rescue,” enabling users to purchase cancelled food orders from nearby areas to reduce food wastage.
The company previously announced that it will move all its going-out businesses from Zomato’s main app, the Insider app, and Paytm‘s app to District. Ticketing services will remain on Paytm’s app until August next year.
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Zomato to raise INR 8,500 Cr via QIP
Meanwhile, the company plans to raise up to INR 8,500 crore through a qualified institutional placement.
Further, the food tech giant’s financial performance has been impressive, with a 389% surge in net profit to INR 176 Cr in Q2 FY25, up from INR 36 Cr in the year-ago period. Operating revenue jumped 68.5% to INR 4,799 Cr in Q2 FY25, compared to INR 2,848 Cr in Q2 FY24.
