Following record food orders on New Year’s Eve, food delivery company Zomato raised its necessary platform fee to Rs 4 per order from Rs 3 in major cities. The new rates went into effect on 1 January.
Zomato temporarily increased its platform fee to as much as Rs 9 per order in select markets on New Year’s Eve.
The company’s shares opened high (about Rs 126 in the morning) on Tuesday as international brokerage firm CLSA maintained its bullish outlook on the stock.
Zomato instituted a Rs 2 platform fee in August of last year to enhance company margins and become profitable.
The platform charge was later raised to Rs 3 before being raised again on 1 January to Rs 4. All clients, including Zomato Gold, are subject to the new platform fee. When compared to prior years, Zomato and its instant commerce platform Blinkit witnessed the highest-ever orders and bookings on New Year’s Eve.
“On NYE 23, we delivered nearly as many orders as we did on NYE 15, 16, 17, 18, 19, 20 combined. I’m looking forward to the future!” Deepinder Goyal, the founder and CEO of Zomato, made a post on X.
According to Albinder Dhindsa, CEO of Blinkit, they exceeded the entire amount of orders they received on New Year’s Eve 2022 in the evening.
