Product details

Zomato, launched in 2008, was the most richly valued online food delivery startup globally after listing in 2021. Zomato had been under pressure to become profitable since it launched its IPO. To become profitable, the food tech giant initiated and soon abandoned many pilot projects along with its core food delivery business. Zomato finally achieved profitability in the first quarter of 2023 since its inception. Zomato ventured into the logistics sector with its Xtreme brand to diversify revenue streams. It was a strategic move that allowed the food tech giant to leverage its extensive two-wheeler fleet of over 0.3 million delivery executives. This service offered a technology-enabled logistical solution. The launch of Xtreme came at a time when Zomato needed a cautious approach to expansion. Would Zomato's diversification into logistics pay off, or would it be another failed experiment by Zomato?