Election fever hits Zomato, offers discounts to users for predicting the next PM
The world's largest election is coming to a close, and while we all wait for the results, foodtech platform Zomato is doling out discounts for those making predictions about the next PM.
After the Zomato Premier League (ZPL), the company's in-app prediction rewards game for the IPL, the online food delivery company has now announced a new version of its 'Predict to Win' contest. It is a snap poll variant of the Zomato Election League that predicts the next Prime Minister.
Like predicting the winner of the match in ZPL, users will now get to predict the next Prime Minister of India and get a base discount of 40 percent every time they order, and a 30 percent cashback if their predictions come true.
There are no limits to the number of times an individual can order and predict till May 22, said reports. Users will get a cashback for all the number of times their predictions come true. The credits will keep getting added to the wallet as the next PM gets elected.
Deepinder Goyal and Gaurav Gupta
Also read: Zomato reports $206M revenue in FY19, 3x growth from FY 2018
The team claims that in the first 36 hours of polling, 776,127 users ordered and voted on Zomato.
A press statement shared by the company said:
Will the prime minister get re-elected, or will a completely new candidate emerge - you have the chance to predict to avail a discount and win cashback if your prediction comes true.
The note added that as a consumer chooses to order a meal on Zomato, they can go ahead and make a prediction on the next PM.
In FY18, the online food delivery platform had a revenue of $68 million, while it touched $206 million this year. Zomato's current annual revenue run rate is $350 million. In a recent announcement, Deepinder Goyal, Co-founder and CEO, Zomato had emphasised on the focus on food delivery.
He said: "Most of the losses ($294 million) are on account of the food delivery business in India. We have had tremendous growth aided by promotional marketing spends to acquire new users and be the first-to-market in many cities in India."
In terms of the online food delivery business, Zomato claimed that in FY18, it had clocked $38 million, while it was at $155 million this year. The Zomato blog stated that delivery contributes to 75 percent of its total revenue.