Since 1987
2015 came in with the need of Zomato laying off 300 employees in order to curb losses, and 10% of these layoffs came to
be in the US. Another setback in the States happened when Zomato aquired Urbanspoon and rebranded the company as their own. This rebranding did not workout and
the venture failed in a mammoth manner.
2016 was probably the slowest financial year for the company, and as a result, it had to rollback its operations in 9 countries which included the US, UK, Chile,
Canada, Brazil, Sri Lanka, Ireland, Italy, and Slovakia. To resume presence they had to go ahead with a remote management service.
In May 2017, Zomato faced it’s biggest cyber attack with a hacker breaching into 17 million user records. While the concern was overpayment and card details being
accessed, the company claimed that only the names, user ID’s, email addresses, usernames, and password hashes had been disclosed. The breach was resolved after
communicating with the hacker who apparently just wanted to prove the security loopholes in the system.
Lastly, Zomato again had bad PR built up for it when it was just about to reach an evaluation of a billion and HSBC Capital slashed this evaluation down by 50%
(making it USD 550 million) thereby raising the company’s alleged losses.