@Zomato ’s H1 financial numbers 👇🏽
Says revenue up 225% to $205 million in the first six months of FY2020
Claims monthly burn rate down 60% in H1 compared to last year
Food delivery business GMV up 223% to $821 million
@Zomato@ETtech@ZomatoIN Restaurant listings globally on @Zomato Zomato
has grown from 1.2m in Sep 2018 to 1.5m in Sep 2019.
Half of this increase comes from India alone
@Zomato@ETtech@ZomatoIN So far, less than 5% restaurants participate in @Zomato Zomato Gold, and less than 5% of our MAUs are Gold members.
After facing years of delays from the regulator & slow movement on the product side, Whatsapp is readying a massive war chest - $400 mn worth to enter payments in India
“If WhatsApp manages to get a significant chunk of payment volumes, NPCI could also look at bringing in the cap next year & ensuring there is parity between UPI apps,” sources
Tough liquidity conditions have pushed companies to focus on profitability, over growth
With staff costs being one of the highest fixed costs in the P&L, the impact on people is an unfortunate outcome 🧵
Udaan, last valued at over $3 bn, is in the process of sacking about 800 staffers across the board, including some top executives, @bytesofnews reports:
Staff-related costs form 11% (the biggest chunk of Udaan's expenses)
Entrepreneurs across India’s startup ecosystem are facing a sobering new reality
Board meetings called to discuss annual operating plans have been brutal 🧵
Amid global uncertainty, operators are forced to make hard choices like deferring fundraising and tweaking terms at the last minute
Measures being discussed to shield companies include slashing marketing spends, freezing hiring & shunning select high-burn new initiatives
The entire dynamic with new investors is changing as money gets tight
This is compelling founders to reset expectations — basically, forget immediate and large cash infusions and valuation bumps — and prepare for a funding winter.