In a strategic move to diversify its portfolio, Zomato is venturing beyond its successful food delivery and quick commerce services with the launch of its new app, District. Announced by Zomato’s CEO Deepinder Goyal, District aims to tap into the largely unorganised live events and ticketing market, offering a consolidated platform for a range of “going-out” activities.
Expanding Horizons
The District app will integrate various lifestyle services into a single platform, including dining, movie and event ticketing, sports, and more. This expansion reflects Zomato’s strategy to build multiple independent business verticals, mitigating risk and maximizing growth potential. Goyal highlighted that District is designed to enhance Zomato’s existing dining-out services, broadening its scope to include diverse customer needs such as movies, live performances, and shopping.
Challenging Industry Giants
With District, Zomato is positioning itself to compete directly with established players in the ticketing market, notably BookMyShow, which currently holds a 60% share of the online movie ticket booking market in India. Goyal emphasized the potential of District to become a “game-changer” by providing a comprehensive solution for all going-out needs, thus creating a significant third B2C business for Zomato.
Strong Financial Performance
Zomato’s financial performance has been robust, with a notable increase in quarterly profit driven by high demand for its food and grocery delivery services. The company’s consolidated net profit surged to 2.53 billion rupees for the April-June quarter, a substantial leap from 20 million rupees in the same period last year.
Looking Ahead
As Zomato prepares to roll out the District app in the coming weeks, it aims to capture a significant share of the live events and ticketing market. The move underscores Zomato’s commitment to evolving its business model and expanding its consumer offerings, potentially reshaping the landscape of lifestyle services.
With District, Zomato is set to become a one-stop destination for consumers’ going-out needs, reinforcing its position as a leading player in the evolving B2C market.
hii Aditi Sahu this side..
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