Online restaurant discovery and food delivery platform Zomato has hit $100 million in annual revenue run rate as of March with the company having grown 40% in just the last 2 months, wrote CEO Deepinder Goyal on micro blogging site Twitter. This is however not the actual annual revenue of the firm for FY18 whose financials will be filed by the company after the year end.
To be sure, annualised revenue run rate helps project future revenue for the year and is calculated based on the current month’s revenue. In Zomato’s case, this would mean a monthly revenue of $8.2 million in March would lead to an annualised revenue run rate of $100 mn.
Zomato had clocked $49 million in revenues as of FY17 with online ordering forming about 18% of that pie, earning the firm $9 mn.
The firm recently saw a key shift in management roles after co-founder Pankaj Chaddah quit the firm. The Info Edge backed firm raised $200 million from Ant Financial, the payments affiliate of Chinese e-commerce giant Alibaba, in a deal that valued the firm at $1.1 billion in February.
Zomato is expected to grow the online ordering business significantly to form almost half the revenue share in the long term. To that end, the firm has also been significantly ramping up the share of self-fulfilled deliveries for the business.
