Food-delivery and restaurant discovery platform Zomato has pulled out of around 225 smaller cities last month, the company said in its December-quarter earnings report. “Recently, in the month of January, we have exited ~225 smaller cities which contributed 0.3% of our GOV in Q3FY23. Performance of these cities was not very encouraging in the past few quarters and we did not feel the payback period on our investments in these cities was acceptable,” Zomato chief financial officer Akshant Goyal s.
has pulled out of around 225 smaller cities last month, the company said in its December-quarter earnings report. “Recently, in the month of January, we have exited ~225 smaller cities which contributed 0.3% of our GOV in Q3FY23. Performance of these cities was not very encouraging in the past few quarters and we did not feel the payback period on our investments in these cities was acceptable,” Zomato chief financial officer
said in the company’s shareholders letter.
