Zomato Announces Investment From Ant Financial
Newly invested funds to help Zomato accelerate user acquisition
and further develop service capabilities in its core markets
Zomato, world's leading
restaurant discovery and online food ordering platform, announced today that it
has raised USD 150 million in a fresh round of funding from Ant Financial
Services Group ("Ant" or "Ant Financial"), one of the
world's leading digital financial services providers. As part of the
transaction, Ant is also buying USD 50 million worth of shares from Info Edge
taking the total investment from Ant in Zomato to USD 200 million. This
transaction values Zomato in excess of USD 1 billion.
Zomato will use the
investment to further strengthen its leadership position in its core markets by
investing in product and technology and by offering more convenient and
seamless payment options to its users in partnership with Ant and Ant's
strategic mobile wallet partners. Zomato is used by millions every day to
decide where to eat in over 10,000 cities across 24 countries. By helping
people discover great places around them and providing dedicated engagement and
management tool for restaurants big and small, Zomato has secured its place as
one of the most widely-used restaurant search and discovery mobile apps in many
parts of the world, including India ,
Middle East, Southeast Asia and Australasia .
Zomato Media Private Limited
("Zomato") is a restaurant search and discovery platform - offering a
variety of services to users including - food delivery, table reservations,
subscription based dining programs, while providing in-depth information for
over 1.4 million restaurants across 24 countries.
Zomato's core content
features include restaurant information such as scanned menus and photos,
sourced by its massive feet-on-street team across cities it is present in
globally. Users can rate and review restaurants, as well as create their own
personal network of foodies for trusted recommendations.
For more updates on Zomato,
please visit our website at https://www.zomato.com/ or follow us on Twitter @Zomato .
Ant Financial Services Group
is focused on serving small and micro enterprises, as well as individuals. Ant
Financial is dedicated to bringing the world more equal opportunities through
building a technology-driven open ecosystem and working with other financial
institutions to support the future financial needs of society. Brands under Ant
Financial Services Group include Alipay, Ant Fortune, Zhima Credit and MYbank.
For more information on Ant
Financial, please visit our website at http://www.antfin.com or follow us on Twitter @AntFinancial.
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