scorecardresearch
Clear all
Search

COMPANIES

No Data Found

NEWS

No Data Found
Sign in Subscribe
Zomato launches ‘District’ app for dining and live events experiences; see details

Zomato launches ‘District’ app for dining and live events experiences; see details

Zomato takes the next big leap, merging dining and entertainment into one seamless experience for its users.

Zomato District Zomato District

Zomato has officially unveiled its latest venture, the ‘District’ app, aimed at enhancing the “going-out” experience for users. Available on both iOS and Android platforms, the app combines dining services with ticket bookings for movies, live performances, sports events, and more.

This marks Zomato’s third major consumer vertical after its food delivery platform and Blinkit’s quick-commerce service. The company is positioning itself as a one-stop destination for those looking to step out and explore their cities.

The launch comes on the heels of Zomato’s acquisition of Paytm’s entertainment and ticketing business in August for ₹2,048.4 crore ($244 million). The move underscores Zomato’s commitment to growing its presence in the entertainment and dining sectors.

In a letter to shareholders for Q1 FY25, Zomato CEO Deepinder Goyal shed light on the company’s strategic direction. “Today, Zomato and Blinkit are our two large consumer businesses, and both of them serve customers’ needs at home. However, we also have one of India’s largest ‘going-out’ businesses,” he wrote.

Goyal further highlighted the potential of the new app: “Building a one-stop destination app for going out could be a game-changer for each of these use cases, and we intend to do exactly that with our new District (by Zomato) app. If we execute this well, we see going out becoming the third large B2C business emerging out of Zomato.”

Zomato’s District app integrates its dining-out services, which are already operating at a run rate of $500 million in annualised gross order value (GOV). With added offerings like movie ticketing, live event bookings, and sports ticketing, the app aims to rival established platforms like BookMyShow, backed by Reliance.

The company’s entry into the entertainment segment adds competitive pressure in an already crowded market. However, Goyal is confident about the potential of District, describing it as a new avenue to serve urban consumers’ lifestyle needs comprehensively.

To prepare for increased competition and bolster its financial position, Zomato recently announced plans to raise ₹8,500 crore through a qualified institutional placement (QIP), as disclosed in its Q2 FY25 earnings report.

In addition to launching District, Zomato recently introduced a feature that offers cancelled food orders at discounted prices to combat food wastage. According to Goyal, the platform sees approximately 4 lakh cancellations each month, making this initiative a step toward sustainability while benefiting customers.

For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine

Published on: Nov 16, 2024, 9:26 PM IST
×
Advertisement