Zomato Halves Cash Burn to $20mn in October.

Zomato cuts monthly cash burn to half in October. 

 

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Zomato halves monthly cash burn to $20mn in October.

Food Calling: Food delivery and restaurant recommendation company Zomato has more than halved its cash burn, while also focusing on improving margins and lowering its cost of delivery, reported its biggest shareholder, Info Edge.

 

The monthly cash burn was c. $20mn in October vs $45mn in March. ET Rise

 

Bonus Read: As per this fascinating report, the parallels between hotel aggregator Oyo and office-sharing platform WeWork are rather uncanny.   Other than the fact that SoftBank Group, directly and through its Vision Fund, is heavily invested in both the startups, both of them raise very similar questions. Three of these stand out - questions around Oyo's dubious business model, its shockingly small revenue and a heady valuation propped up by a financial maneuver previously used by SoftBank family members. Click here for a deep dive into the matter. 

FIN.

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