Zomato to Launch New App 'District' for Expanding 'Going-Out' Business

• Zomato announced the launch of 'District,' a new app consolidating dining, ticketing, and other lifestyle services, marking an ambitious expansion beyond its core food delivery services.
• CEO Deepinder Goyal revealed the app in a letter to shareholders, highlighting its potential to become a one-stop destination for dining out, movies, sports ticketing, live performances, shopping, and staycations.
• The 'going-out' business is already profitable with a run-rate of over $500 million annualized Gross Order Value (GOV), and Zomato aims to further expand this offering.
• The move positions Zomato in direct competition with apps like BookMyShow, which currently dominates the online movie-ticket booking market in India.
• Zomato's net profit surged to Rs 253 crore in the June quarter, with revenue rising 74 percent to Rs 4,206 crore, indicating strong growth despite broader e-commerce sector challenges.

Source: Zomato