Zomato Gets 'Dark Mode', CEO Deepinder Goyal Promises Full Rollout By Sunday: Here's How It Works
All Zomato users are expected to get the new visual feature before September 9.
Zomato has introduced a new "Dark Mode" feature for its mobile app, as announced by Founder and CEO Deepinder Goyal on Thursday. The feature, designed to enhance user experience, will be gradually rolled out to all users within the next few days.
Welcome to the dark side. Being rolled out to everyone over the next few days. Update at 30 per cent rollout right now; 100 per cent by Sunday. pic.twitter.com/uHAI7BAC91
— Deepinder Goyal (@deepigoyal) September 5, 2024
Goyal shared the news on the social media platform X, stating that 30 per cent of the update is live now, with a complete rollout set for Sunday, September 8.
By the looks of it, your Zomato app should get a Dark Mode toggle soon, which you can use to switch between a white and black background.
Zomato Share Price Jump
Meanwhile, the announcement coincided with a notable surge in Zomato’s stock price, which jumped 7.7 per cent to Rs 261.60 per share in early trading on Thursday. This rise followed a significant target price upgrade by global brokerage JP Morgan, which raised its target for Zomato from Rs 208 to Rs 340 per share, citing increased confidence in the company's growth prospects.
JP Morgan's revised target is the second-highest among major brokerages, just behind CLSA's recent target of Rs 353 per share with an "overweight" rating. The optimistic outlook is driven by Zomato's rapid expansion of Blinkit, its quick-commerce platform, which has shown strong results in the National Capital Region (NCR) and is now scaling operations in other major cities. This expansion is expected to drive revenue growth through better monetization of channels and advertising, while improvements in store economics could positively impact Zomato's EBITDA.
JP Morgan also raised its financial forecasts for Blinkit by 15-41 per cent for FY25-27, predicting that the quick-commerce arm could disrupt both modern retail and traditional e-commerce models. The brokerage highlighted Zomato's "Going Out" initiative, which integrates dining and ticketing services, as a key growth area.
In its first-quarter results for FY25, Blinkit reported an adjusted EBITDA loss of Rs 3 crore but exceeded store expansion targets by adding 113 new locations. Earlier in the week, CLSA also reaffirmed its positive stance on Zomato, emphasizing the transformative potential of quick commerce on India’s retail landscape. The brokerage pointed to the streamlined retail distribution model, which provides brands with increased visibility and competitive pricing, positioning Zomato as a major player in the evolving market.
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