30 July 2015.
The online Indian restaurant listing company Zomato has announced that it intends to enter 18 new countries by the end of next year.
Most of the target markets are in Europe, although a number of Asian countries are on the list as well, with Spain, Belgium, the Netherlands, Scandinavia, Vietnam and Malaysia being named as priority markets.
Zomato is already present in 22 countries, including India, the US, the UK, Australia and Canada. Its main competitor in the West is the online listing website Yelp.
Zomato also plans to launch new software to help keep its website up to date. It plans to install terminals in around 10,000 restaurants worldwide, where restaurant staff could enter data such as table and food availability, with this data then being updated in real-time on the Zomato website.
A spokesperson from the company said: “It will cost us about 10 million US dollars to enter the market, but we think there is a big business to be made in seamlessly connecting restaurants to customers.”
Zomato generated revenues of 16 million US dollars last year, and has said that it aims to triple revenues in the next 2 years.