New Delhi: 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 said. The company's current cash burn is USD 15 million per month, he added.
Earlier in October, Zomato had said it has witnessed over three-fold jump in revenue to USD 205 million (around Rs 1,458 crore) for April-September 2019 from USD 63 million (around Rs 448 crore) in the same period a year ago.
The company recently announced plans to raise up to USD 600 million (around Rs 4,277 crore) by next month in a new funding round.
