We’ve reduced cash burn by 70%, look to be profitable by end-2020: Zomato

Online restaurant guide and food ordering platform Zomato is looking to be a profitable company by the end of 2020, a top company official said.

“In a year’s time, we should be a profitable company. We have been able to reduce our cash burn by around 70 per cent from what it was seven months ago,” Zomato founder and CEO Deepinder Goyal told PTI.

The company’s current cash burn is $15 million per month, he added.

Earlier in October, Zomato had said it has witnessed over three-fold jump in revenue to $205 million (around Rs 1,458 crore) for April-September 2019 from $63 million (around Rs 448 crore) in the same period a year ago.