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Tag: District by Zomato

  • The Zomato District App is now Available for iPhone and Android Users

    The ‘District’ app is the most recent venture of Gurgaon-based food delivery giant Zomato. The goal of this new platform is to serve Zomato’s expanding “going-out” business, which includes reservations for restaurants, events, and cinema tickets. After the rapid commerce platform Blinkit and the food delivery service Zomato, this is the company’s third consumer-facing venture.

    Zomato made a calculated decision to enter the going-out market in order to increase its revenue sources and take advantage of the growing entertainment sector. In August 2023, the company paid a hefty INR 2,048 crore to acquire Paytm’s events and ticketing division, strengthening its dominance in this market.

    Attracting Features

    The District app provides a wide range of services, including the ability for users to reserve movie tickets from multiple chains, including Cinepolis and PVR-Inox. Bookings for plays, concerts, and other live events are made easier by the app. Zomato‘s vast restaurant network allows users to book tables at eateries.

    Locking Horns With BookMyShow

    Competition from well-established firms like BookMyShow (supported by Reliance), which presently commands a sizable market share in movie ticketing, is heightened by Zomato’s foray into the going-out sector. Nonetheless, Zomato might have a competitive advantage due to its well-known brand, large user base, and substantial financial resources.

    Zomato intends to gradually move services from its main app, the Insider app, and Paytm’s platform under the District app, which would house its going-out businesses. This calculated action will improve emphasis on the main offerings and streamline the user experience.

    Zomato is in a strong position to benefit from the rising demand for entertainment and leisure activities as it keeps extending its presence in the going-out market.

    Zomato and Paytm Deal

    In an exchange filing on August 28, food delivery giant Zomato said that it has successfully acquired Wasteland Entertainment Private Limited (WEPL) and Orbgen Technologies Private Limited (OTPL), Paytm’s event ticketing subsidiaries. The Insider and TicketNew platforms are run by WEPL and OTPL, respectively. On June 16, media outlets first revealed that Paytm was in negotiations to sell Paytm Insider to Zomato, owned by Deepinder Goyal, who wants to grow the “going-out” industry.

    Paytm, a company based in Noida, also attested in a different filing that the events and movie tickets business was successfully transferred to Zomato on August 27. To ensure a seamless and continuous experience for users and merchant partners, the movie and event tickets will be accessible on the Paytm app, as well as on the TicketNew and Insider platforms, for a maximum of 12 months during the transition time. Approximately 280 current workers of the entertainment ticketing company will transfer to Zomato as part of the agreement.

     According to Paytm, the company’s goal is to concentrate on the delivery of financial services and payments. Following aggressive investments in the popular rapid commerce sector, the deal represents a significant step towards Zomato expanding its operations beyond food delivery.

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  • Zomato Is Introducing Their New ‘District’ App

    By launching a new app called District, the food aggregator Zomato is expanding its operations beyond its main business of providing food delivery and quick shopping. The “going-out” business, which includes dining, movies, sports ticketing, live performances, shopping, vacations, and other activities, will be consolidated by introducing this new vertical space.

    Deepinder Goyal, the company’s Chief Executive Officer, made the announcement in a letter to the shareholders. In the letter, he stated, “We believe that there is an opportunity to further expand our going-out offering, building on with our dining-out business.”

    Other use cases for customers in the going out area include things like going to the cinema, purchasing tickets to live performances, shopping, staying at home, and other similar activities. Some of these use cases have already been established, and others are currently being developed.

    In addition, Goyal stated, “We intend to do exactly that with our new District (by Zomato) app, which is to build a one-stop destination app for going out.”

    This might be a game-changer for each of these use cases. Going out has the potential to become Zomato’s third-largest business-to-consumer (B2C) business if we are successful in executing this plan.

    Zomato’s Recent Financial Report Card

    The major food technology company declared a net profit of INR 253 crore, which is significantly more than the net profit that it had posted during the same quarter of the previous year. Over the June quarter, Zomato’s revenue reached INR 4,206 crore, which is a year-on-year rise of approximately 74% compared to the previous year’s figure of INR 1,416 crore.

    During the quarter, Zomato’s Gross Order Value (GOV) reached INR 15,455 crore, representing a 53% rise. Specifically, the organization defines GOV as the aggregated GOV of consumer-facing enterprises like meal delivery, quick-commerce, and going out.

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    Locking Horns With Other Players in the Market

    It is essential to keep in mind that Zomato has not developed a great app in the same way that its competitors Swiggy and BigBasket have. The Going-out business vertical of Zomato is a combination of the Zomato Live and Dining-out business verticals.

    As a result of this decision, Zomato is now in competition with apps such as BookMyShow. In June, Zomato confirmed the exchanges that it is, in fact, in negotiations with Paytm to purchase the latter’s media and ticketing operations.

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