Editor’s Note: This is the Paw Print Rewind, a daily recap of the top news headlines.
Zomato breaks even at home, key markets abroad
Zomato has broken even in key markets like India, according to the company, and is on track to make a profit as early as next June.
The New Delhi-based restaurant search and food delivery service has hit operational break-even in India, the UAE, Indonesia, and three other Middle Eastern and Southeast Asian markets. According to Zomato co-founder and CEO Deepinder Goyal, they together account for three-fourths of the company’s revenue.
“The fundamental model of our business is that in mature markets we should make profits and they shouldn’t need any more outside money to grow.”
-Deepinder Goyal, Zomato co-founder and CEO
Zomato operates in 17 other countries, including the United States, Britain, and Australia.
India intros net neutrality rules banning Facebook’s Free Basics
India introduced rules on Monday to prevent Internet service providers from having different pricing policies for accessing different parts of the Web, most notably banning Facebook’s Free Basics Internet service.
“Connecting India is an important goal we won’t give up on, because more than a billion people in India don’t have access to the Internet. We know that connecting them can help lift people out of poverty, create millions of jobs, and spread education opportunities.”
-Mark Zuckerburg, Facebook CEO
According to the Telecom Regulatory Authority of India, Internet service providers would not be allowed to discriminate on pricing for different Web services.
“Essentially, everything on the Internet is agnostic in the sense that it cannot be priced differently.”
-Ram Sevak Sharma, TRAI chairman
“We are delighted by the regulator’s recognition of the irreversible damage that stands to be done to the open Internet by allowing differential pricing.”
-Mishi Choudhary, New York lawyer that led online campaign against Facebook