Among those, it is quitting the United States, United Kingdom, Singapore and now Lebanon.
Zomato has exited some of its foreign markets in order to focus on India and UAE.
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Global Presence
It operated in three geographical segments — India, UAE and the rest of the world.
The lattermost category includes Australia, New Zealand, Philippines, Indonesia, Malaysia, USA, Lebanon, Turkey, Czech, Slovakia, Poland, Qatar, and Ireland.
Among those, it is quitting the United States, United Kingdom, Singapore and now Lebanon.
Poor Performance
These businesses have been noted to have contributed less than 1% to its adjusted revenue and 13% to its adjusted EBITDA loss in Q2FY22.
It will turn its attention to India which is its biggest market, and UAE which is its only profitable market currently.
Its UAE business is not that of food delivery like in India but that of dining-out.
Shifting Focus
It will also pay more attention to “growth geographies”, which are currently less profitable than the more mature cities.
The move is part of its “clean up drive” to let go of its non-core businesses to focus on hyperlocal ecommerce systems.
It has also announced plans to invest nearly $1 billion in Indian startups over the next two years to grow its ecommerce network.
Solidifying Growth
Through its network and investments, it aims to compete with the likes of Sanjeev Bikhchandani-led InfoEdge and Chinese business conglomerate Alibaba.
Its core businesses remain food ordering and delivery, dining out and hyperpure (B2B supplies for restaurants).
It sees an opportunity to grow its India business at least 10x over the next few years.
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