Zomato Is Introducing Their New 'District' App

By launching a new app called District, the food aggregator Zomato is expanding its operations beyond its main business of providing food delivery and quick shopping. The "going-out" business, which includes dining, movies, sports ticketing, live performances, shopping, vacations, and other activities, will be consolidated by introducing this new vertical space.

Deepinder Goyal, the company's Chief Executive Officer, made the announcement in a letter to the shareholders. In the letter, he stated, "We believe that there is an opportunity to further expand our going-out offering, building on with our dining-out business."

Other use cases for customers in the going out area include things like going to the cinema, purchasing tickets to live performances, shopping, staying at home, and other similar activities. Some of these use cases have already been established, and others are currently being developed.

In addition, Goyal stated, "We intend to do exactly that with our new District (by Zomato) app, which is to build a one-stop destination app for going out."

This might be a game-changer for each of these use cases. Going out has the potential to become Zomato's third-largest business-to-consumer (B2C) business if we are successful in executing this plan.

Zomato’s Recent Financial Report Card

The major food technology company declared a net profit of INR 253 crore, which is significantly more than the net profit that it had posted during the same quarter of the previous year. Over the June quarter, Zomato's revenue reached INR 4,206 crore, which is a year-on-year rise of approximately 74% compared to the previous year's figure of INR 1,416 crore.

During the quarter, Zomato's Gross Order Value (GOV) reached INR 15,455 crore, representing a 53% rise. Specifically, the organization defines GOV as the aggregated GOV of consumer-facing enterprises like meal delivery, quick-commerce, and going out.

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Locking Horns With Other Players in the Market

It is essential to keep in mind that Zomato has not developed a great app in the same way that its competitors Swiggy and BigBasket have. The Going-out business vertical of Zomato is a combination of the Zomato Live and Dining-out business verticals.

As a result of this decision, Zomato is now in competition with apps such as BookMyShow. In June, Zomato confirmed the exchanges that it is, in fact, in negotiations with Paytm to purchase the latter's media and ticketing operations.

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