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Small restaurants, cloud kitchens heating up competition: Zomato's Rakesh Ranjan
Livemint
·
1y ago
Medial
Rakesh Ranjan, CEO of Zomato's food delivery, discusses the company's profitability, the evolving restaurant landscape, and the challenges of differential pricing. He notes the shift in the restaurant landscape with the rise of cloud kitchens and increased competition from small restaurants. Ranjan addresses concerns about differential pricing, stating that while it impacts restaurants, it is not fully traceable, and Zomato is working with restaurants to understand its effects. He also talks about Zomato Gold's evolution and ongoing engagement with the National Restaurant Association of India.
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Zomato Bans Use Of AI Generated Images By Restaurant Partners
Inc42
·
10m ago
Medial
Non-compliant restaurants will be removed from Zomato's platform starting September 16, according to Rakesh Ranjan, the CEO of Zomato's food ordering and delivery division. Artificial intelligence (AI) will still be employed by the company to catalog food and improve their quick commerce business. This decision follows Zomato CEO Deepinder Goyal's recommendation for restaurant partners to avoid using AI for generating dish images in their menus.
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Eternal appoints Aditya Mangla as CEO of food delivery business
YourStory
·
1m ago
Medial
Eternal appointed Aditya Mangla as CEO of its food delivery business at Zomato, replacing Rakesh Ranjan. Ranjan stepped down after a two-year tenure but will remain with the company. Mangla, with over four years at Zomato, previously led product, supply, and customer experience for the food delivery arm. This leadership change is part of an internal reshuffle aiming for fresh perspectives amid a slowdown in Zomato's growth, attributed to reduced demand and increased competition.
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Zomato steps up restaurant signups as slowdown bites
Economic Times
·
1y ago
Medial
Zomato is ramping up the addition of new restaurants to its platform as it faces a broader slowdown in discretionary spending. The company has seen sequential growth in restaurant partners, with a significant portion being cloud kitchens. Despite a muted demand environment in the December quarter, Zomato reported a 27% YoY growth in gross order value (GOV) for its food-delivery business. The company aims to continue adding restaurants and improve its coverage of existing ones to drive growth. Zomato's long-term growth will depend on its ability to generate demand, according to its CFO.
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Ghost Kitchens India, a cloud kitchen startup, raises $5M in a Series A round
IndianStartupNews
·
1y ago
Medial
Ghost Kitchens India, a cloud kitchen startup, has secured $5 million in a Series A funding round. Led by Gujarat Venture Finance Limited, the round also saw participation from NB Ventures, LetsVenture, Lead Angels, and existing investors. Ghost Kitchens operates popular brands like Khichdi Paradise and Bhayankar Burgers, serving customers across Mumbai, Ahmedabad, and other Indian cities. The startup provides a plug-and-play food delivery concept within existing setups to boost revenue and profits for restaurants and cloud kitchens. With the new funding, Ghost Kitchens plans to open 25 quick-service restaurants with dine-in facilities.
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Ghost Kitchens India raises $5 million in funding led by Gujarat Venture Finance
Economic Times
·
1y ago
Medial
Ghost Kitchens India, a cloud kitchen startup, has raised $5 million in a Series A funding round led by Gujarat Venture Finance Limited. The company operates over 15 company-owned cloud kitchens and 1,200 internet restaurants across India. Founder and CEO Karan Tanna plans to expand the business from its fulfillment partner program model to open quick-service restaurants with dine-in facilities in high-street areas. Ghost Kitchens India also aims to launch celebrity-linked brands and achieve annual revenues of about Rs 200 crore in the next two years. The company was relaunched in 2021 after facing challenges due to the Covid-19 pandemic.
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Zomato CEO Deepinder Goyal’s advice to Swiggy: ‘Competent people can’t recognise they are complacent, don’t…’
Livemint
·
8m ago
Medial
Food delivery aggregator Swiggy recently had its successful IPO, making hundreds of its employees "crorepatis" with their holdings now worth crores of rupees. Zomato CEO Deepinder Goyal, offering perspective as his company went public earlier this year, warned about the unintended consequences of sudden wealth. Goyal highlighted the potential for complacency and a slowdown in innovation among employees who became financially secure. Despite this, Zomato's food delivery CEO, Rakesh Ranjan, expressed optimism about the industry's future, stating that increased competition, such as Swiggy's IPO, would foster innovation and overall growth.
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Ghost Kitchens Bags $5 Mn To Help Restaurants Boost Revenue
Inc42
·
1y ago
Medial
Ghost Kitchens India, a cloud kitchen startup, has raised $5 million in its Series A funding round. The funding was led by GVFL, with participation from NB Ventures, LetsVenture, and Lead Angels. The company plans to use the funds to scale its operations and expand into retail stores for its existing and new brands. Ghost Kitchens India currently operates over 15 cloud kitchens and 1,200 partner restaurants across 40 cities in India. The startup aims to achieve annual revenue of INR 200 crore in the next two years.
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Ghost Kitchens India acquires Shy Tiger Brands
Entrackr
·
1y ago
Medial
Ghost Kitchens India has announced the acquisition of Shy Tiger brands, a cloud kitchen company based out of Ahmedabad. The acquisition comes on the heels of Ghost Kitchens’ equity and debt round of $5 million earlier in February 2024. Founded in 2018 by Milapsinh Jadeja, Shy Tiger has five multi brand cloud kitchens spread across Ahmedabad. The firm’s portfolio includes iconic brands like KBOB’s and The Black Chimney. With this acquisition, Ghost Kitchens will amplify its presence in Gujarat by integrating its existing brands in Shy Tiger’s infrastructure. Ghost Kitchens operates through 15 company owned and operated cloud kitchens in Mumbai and Ahmedabad, and 1,200 internet restaurants across 40 cities in India. Earlier in 2022, Ghost Kitchens had acquired a technology company-WTF which helped them create their proprietary technology. Additionally, Ghost Kitchens acquired Speak Burgers by celebrity Chef Vicky Ratnani in February 2023 to grow the partnership through 25 offline retail stores in the next 18-24 months. According to a Redseer report, the estimated size of the cloud kitchen market would touch $3 billion by 2024, from $400 million in 2019. Moreover, top startups operating in the segment mopped up around $600 million in funding in the past three years and close to $1 billion since their inception, according to the startup intelligence platform TheKredible.
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The Growth of Cloud Kitchens in India
StartupTalky
·
1y ago
Medial
The cloud kitchen market in India is projected to reach $1.9 billion by 2026, showing significant growth from its $800 million valuation in 2022. This growth is attributed to the increasing popularity of online meal ordering, which was accelerated by the pandemic-induced lockdowns. There are four popular types of cloud kitchens in India: independent, multi-brand, hybrid, and those owned by delivery apps. Cloud kitchens offer advantages such as lower costs, reduced risks, and faster setup compared to traditional restaurants. Technology, including AI and ML, is being utilized to automate processes and ensure food quality. The future of cloud kitchens looks promising with the increasing demand for online food delivery services and strategic partnerships to enhance services.
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Zomato food delivery CEO steps down; Deepinder Goyal to take charge
Times Now
·
3m ago
Medial
Rakesh Ranjan, the CEO of food delivery at Zomato's parent company Eternal, is stepping down. Elevated to the role in May 2023, Ranjan's exit occurs as the company faces a dip in its food delivery market share. Deepinder Goyal will temporarily oversee operations during the internal reshuffle until a new CEO is appointed. The move follows a slowdown in the food delivery sector. External and internal candidates are being considered for the position.
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