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Zomato spends $500mn in FY19, revenue grows three-fold to $206 mn
short by Gaurav Shroff / on Friday, 5 April, 2019
Zomato has released its annual report, claiming $206 million revenue for the financial year 2018-19 after concluding FY18 with $68 million. The Gurugram-based unicorn mentioned its costs went from $80 million to $500 million. Zomato CEO Deepinder Goyal said most of the losses ($294 million) came from expansion of its Indian food delivery business and promotions to acquire new users.
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