Zomato in talks with Alibaba for funds, UberEats allocates $200 million for India

MUMBAI: Online food delivery startups are again seeing hyper funding and cut-throat competition, mirroring what had happened in the go-go years of 2014-15. While Uber is expected to invest $200 million into its food delivery business, UberEats, here in India, both Zomato and Swiggy are in talks to shore up $200 million each from risk investors.

Sources close to the discussions said Zomato is talking to Alibaba while Swiggy is close to wrapping up a new $200-million financing round with participation from Yuri Milner’s DST Global, Coatue Management, and Meituan-Dianping — the Chinese food review and delivery giant. Three of these players also have Foodpanda to fight with, which was recently bought out by Ola. The homegrown ride-hailing company said it was earmarking $200 million to grow Foodpanda.

 

Industry watchers said with fresh capital coming in, it will lead to increased discounts and promotions to lure consumers. “Between the four companies, there’s almost $800 million to $1 billion of funds likely to be allocated to this sector. The cash burn is going to go up at a fast clip as each of them wants to outbid the other. Swiggy, Zomato and UberEats are slugging it out while Foodpanda under Ola has a far bigger war chest,” said a person familiar with the situation.

 

Uber, which is committing $200 million to grow its food delivery vertical, said it will expand into tier-2 cities in India. The food aggregator app, which was launched in May last year, is currently present in Mumbai, Delhi, Pune, Chandigarh and six other markets. In an earlier interview with TOI, Bhavik Rathod, head of UberEats India, said, “India remains one of the most important markets for UberEats globally and is the fastest growing market in the Asia-Pacific region.

 

 

After its affiliate Ant Financial invested in restaurant discovery and delivery app Zomato earlier this year, Alibaba is now directly looking to back the Gurgaon company in a $200-million financing round, three people familiar with the matter said. TOI has learnt the financing round will peg Zomato’s valuation at $1.5 billion.

The move to double down on Zomato comes right after the Alibaba group bought out China’s food delivery service Ele.me. Sources said, while Zomato’s financing round is in an early stage, Swiggy’s $200-million fundraise has closed, valuing it at $1 billion after the investment

 

UberEats, Zomato and Swiggy did not respond to TOI’s queries.

Sources said Swiggy, the largest online food delivery app, is clocking about 10 million orders monthly while Zomato registered approximately 7.5 million per month. Latest numbers for Foodpanda were 40,000 monthly orders, while UberEats was at 20,000-25,000, people who track the sector said.

While the euphoria among investors has returned seeing the high growth of these companies, the burn rate on the back of spiralling customer acquisition costs hasn’t come down for anyone in the sector. “Swiggy and Zomato have been scaling very quickly as they are witnessing higher frequency and return customers. What will be critical is how these players are able to use their fleet to deliver more than just food,” said an investor in an online food ordering platform on the condition of anonymity.

 

Source : http://www.comeneat.com/blog/zomato-in-talks-with-alibaba-for-funds-ubereats-allocates-200-million-for-india/

Just Eat’s global chief marketing officer has left the company after three years at the helm.

Just Eat’s global chief marketing officer has left the company after three years at the helm.
Barnaby Dawe most notably led Just Eat’s rebrand in a bid to bolster its global reach and its connection with consumers. In the background the company has been experimenting with new tech like augmented reality, voice, chatbots and prime-time sponsorships like The X Factor.

A Just Eat spokesperson confirmed the move: “We can confirm that Barnaby Dawe has decided to step down from his role as Just Eat’s global chief marketing officer after three years at the helm of the company’s marketing department.

“Barnaby has transformed the Just Eat brand and our approach to marketing, enabling us to become the category-leading company we are today.”

Dawe has experience at UK brands, having previously worked with the likes of Harper CoIlins, News UK and Turner. It comes ten months after Peter Plumb joined the company as chief executive from MoneySavingExpert.com.

Source : http://www.comeneat.com/blog/just-eats-global-chief-marketing-officer-left-company-three-years-helm/

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