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regular-article-logo Tuesday, 19 November 2024

Zomato launches third app 'District' in bid to consolidate its 'going-out' services

CEO Deepinder Goyal had said in a letter to shareholders after the company’s first quarter financial results that District would emerge as Zomato’s third large B2C business

Our Special Correspondent Mumbai Published 19.11.24, 12:02 PM
Representational image

Representational image File picture

Zomato has launched its “going-out” services through an app named District that can be accessed by both Android and iOS users. This will be its third consumer facing app after its flagship application for food delivery, and the quick commerce service Blinkit.

In August, CEO Deepinder Goyal had announced the roll out of the new service.

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He said this would consolidate going-out services such as dining, movies, sports ticketing, live performances, shopping, and staycations.

At that time, Zomato had acquired Paytm’s entertainment and ticketing business for 2,048 crore. With the new service, it will compete against BookMyShow in the movie and live events segment.

Goyal had said in a letter to shareholders after the company’s first quarter financial results that District would emerge as Zomato’s third large B2C business.

“We believe that there is an opportunity to further expand our going-out offering, building on top of our dining-out business,” he added. For the company, its main food delivery app — Zomato and Blinkit — are currently the two large businesses that deliver services to consumers at their homes.

The dining-out business was then operating at a run-rate of $ 500 million plus annualised GOV (gross order value) and was profitable.

“Building a one-stop destination app for going-out could be a game changer for each of these use cases,” Goyal said.

On Monday, shares of Zomato ended at 270.70 on the BSE, a gain of 0.41 per cent.

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