Uber reports $2.6 bn loss in Q2, gross bookings at all-time high
The net loss included a $1.7 billion net headwind (pre-tax) relating to Uber's equity investments, primarily due to aggregate unrealized losses related to the revaluation of Uber's Aurora, Grab, and Zomato stakes. Additionally, net loss includes $470 million in stock-based compensation expense, said the company. "Last quarter I challenged our team to meet our profitability commitments even faster than planned � and they delivered," said Dara Khosrowshahi, CEO.
Zomato narrows losses to Rs 186 cr, revenue up 17% in June quarter
"Growth in revenue was driven by 10 per cent QoQ growth in Gross Order Value (GOV) to Rs 64.3 billion in Q1FY23 and growth in revenue per order. GOV growth was, in turn, driven by robust growth in order volumes and mild growth in average order values as compared to the previous quarter," said Zomato CFO Akshant Goyal.
Zomato was game over on listing itself: Shankar Sharma quotes Amitabh Bachchan from 'Deewar'
"Zomato stock reminds me of what Amitabh Bachchan said in 'Deewar' on hearing news of dad's death: 'Mar to woh bees saal pehle gaya tha. Aaj to sirf ussey jalaya ja raha hai'. It was game over on listing itself," Sharma said in a tweet. The stock market investor's reaction came after Zomato is plunging to new lows.
Jefferies hits 'buy' button on Zomato for long-term investors
Zomato share price tanked over 11 per cent on Monday and another 7 per cent on Tuesday to hit an all-time low of Rs 44.10. In a note, Jefferies said that now is the time for long-term investors to Buy Zomato stock with a target price of Rs 100.
Zomato stock cracks as lock in period ends
Zomato was down 11.28 per cent at Rs 47.60 in afternoon trade. It hit a 52 week low of Rs 46. Its peak price in 52 weeks was Rs 169.10. The one year lock-in for promoters, shareholders, employees and others considered as insiders ended on Monday. As per reports, Zomato's total paid up capital of the one year overhang is around 78 per cent and market experts were expecting Zomato shares to sell-off this week.
Zomato acquires 15-minute delivery platform Blinkit for Rs 4,447 cr
Zomato already owned more than 9 per cent stake in Blinkit (earlier Grofers). While the earlier Blinkit deal value was around $700 million, the drop in Zomato's share price reduced it to $568 million. "This foray into the next big category is timely as our existing food business is steadily growing towards profitability," said Zomato CEO Deepinder Goyal.
When a Zomato share is priced lower than a kilo of tomatoes
Share prices of tech startups such as Zomato, Nykaa and Paytm have caused huge wealth destruction for investors. Ravi Singh, Vice President and head of Research Share India said following the market slump due to the geopolitical crisis and interest rate hikes in developed economies, share prices of tech startups such as Zomato, Paytm and Nykaa have failed, erasing a large part of investors wealth.