Zomato, the food delivery company, is constantly trying new things. The latest offering is delicacies from other cities and what it calls “intercity legends”.
It becomes more difficult to acquire customers once a business has reached a certain size. An analyst who spoke on condition of anonymity said that it is sensible to create new service lines to address the same customers or to reactivate dormant clients rather than spending too much on customer acquisition.
Like Nykaa Zomato is betting big on new businesses. It spent Rs4,447 crore in early 2022 to acquire quick commerce player Blinkit. This deal was not well received by the market due to the cash-intensive nature of the quick commerce company. Zomato hopes to increase its customer base, increase order frequency and increase order value through quick commerce. Blinkit is available for a variety of essential purchases. According to Zomato, adjusted EBITDA losses in the quick commerce business decreased to Rs259 crore in Q2 FY23, compared with Rs326 crore in the previous quarter. “Out of 50,000,000 customers, 1.8 Million order once per week. Goyal stated that this number will grow our business by 10-15 or 20 million in the FY22 earnings call.
Policybazaar and Paytm: Digital Wave
Yashish Dhiya is the chairman and CEO of PB Fintech. He also owns Policybazaar. We educate customers about the need for life and insurance, and we try to create the most efficient channels for filing claims and buying policies. He says that they don’t plan to do anything different. The business has not been affected by rising inflation. Online insurance is also very competitive. Policybazaar holds over 90% of the market. He says that insurance is an unpredictable business. Our revenue in 2020 was between Rs500 and 600 crore. It’s now Rs2,400 crore. This is a four-and-a-half times increase in just three years. Policybazaar has been profitable over the past four to five quarters. Paisabazaar will break even in the next quarter, says Dahiya.
Paytm is a payment-oriented bank. We are using payments to disburse credit. Sharma stated that credit, although still in its infancy and a relatively new space, is showing signs of being a long-term viable space. Paytm claims that its super app continues seeing “heightened consumer engagement” regarding payment offerings. The quarter ended September 2022 saw an average MTU of 79.7million, which is 39% more than the same period last year. Paytm’s Q2 FY23 net consolidated losses increased 21%