New Delhi: Online food ordering giant Zomato announced today that it is discontinuing its premium service, ‘Zomato Legends’, after two years of trying to find a product-market fit. The decision was made due to the service’s inability to gain traction among users.
What Was ‘Zomato Legends’?
- Intercity Food Delivery: Launched as an innovative intercity food delivery service, ‘Legends’ aimed to bring legendary dishes from different regions to customers nationwide. Imagine ordering authentic Hyderabadi Biryani while sitting in Delhi!
- Curated Selection: The service featured a carefully curated list of top-rated restaurants known for their consistently delicious food. These culinary gems were specially chosen to provide an exceptional dining experience.
Recent Developments
- Service Restart: In July 2024, Zomato revived its ‘Intercity Legends’ service, which had been temporarily shut down in April. The company made strategic adjustments to enhance profitability.
- Higher Minimum Order Value: To ensure each delivery is economically viable, Zomato increased the minimum order value to Rs 5,000.
- Paytm Acquisition: Interestingly, this decision comes on the heels of Zomato’s acquisition of Paytm’s ticketing business.
Stock Market Impact
- Share Price Dip: Zomato’s shares slipped by Rs 2.15 (0.83%) on Thursday, closing at Rs 257.8 apiece on the Bombay Stock Exchange (BSE).
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