Zomato

Indian startup Zomato was launched in 2008. It offers food delivery services and oversees restaurant reviews. By July 2021, the service is available in 525 cities and serves about 6.8 million customers every month.

History

2021: Exit to the exchange

In mid-July 2021, shares of one of India's largest technology startups Zomato went on sale during an initial public offering (IPO) worth $1.2 billion. The startup, which specializes in food delivery, raised $562.3 million from institutional investors, offering 35 times more shares than originally planned.

Among the investors who supported Zomato are: the Government of Singapore, the State Bank of India, private investment companies Tiger Global and BlackRock, Mirae Asset, New World, T. Rowe Price, Baillie Gifford Steadview, as well as the largest banks in India, in particular Kotak, ICFC and HDI.

Indian food delivery service Zomato entered the exchange

Analysts say that exceeding the subscription limit indicates the confidence of institutional investors in the first real consumer Internet offer of the world's second largest Internet market. After listing, Zomato will be among the 80 largest companies in India by market capitalization and will be ahead of some well-known and established companies in the country, including Aurobindo Pharma, Hero MotoCorp, Piramal Enterprises, Lupine, Apollo Hospitals, SAIL, Bandhan Bank.

Zomato's IPO comes as Indian markets approach historic highs and digital companies "growing interest in listing on exchanges.

Zomato executives said the startup will focus on development in India and will explore other trading options in the future. Zomato competes with local startup Swiggy, which is supported by Softbank, and is still only the nascent Amazon food delivery service in the food delivery market.^[1]

2020: Leave for all employees during menstruation

In August 2020, the Indian technology company Zomato, which develops food delivery services, announced that it would provide employees with up to 10 days a year as vacation for the duration of menstruation. Thus, the company is fighting the stigma of this topic in India.

Founded in 2008, Zomato with more than 5,000 employees is the most famous Indian organization that is trying to weaken stringent social norms. According to local media reports, at least several other companies have already introduced a similar policy in the past.

In India, however, the discussion of menstruation is still taboo for many. As a result, millions of Indian women and girls continue to face discrimination and serious health problems due to lack of awareness.

Indian IT company sends all employees on vacation during menstruation

Building a culture of trust and acceptance is Zomato's goal. Women should not be ashamed or stigmatized when applying for menstruation leave, "Zomato CEO Deepinder Goyal told her employees in an email. - Feel free to tell your colleagues in company chat rooms or by e-mail that you have taken the day off.

Goyal urged all women who faced insults or unpleasant comments about the vacation taken to contact the leadership. Goyal told male colleagues that "the new rules should not cause us any inconvenience."

This is a natural part of life, and although we do not fully understand what women are going through, we must trust them when they ask for rest, "said Goyal. - I know that menstrual spasms in many women are very painful, so we should support our colleagues if we wish to create a real culture of cooperation in Zomato.[2]

Notes