On August 22, Zomato announced the immediate shutdown of its ‘Zomato Legends’ service, following two years of attempts to establish a solid market presence. In a post on X, Zomato founder and CEO Deepinder Goyal explained the decision, stating, “Update on Zomato Legends – after two years of trying, not finding product market fit, we have decided to shut down the service with immediate effect.”
Concept and Features
Launched with the goal of offering premium intercity food delivery, Zomato Legends aimed to bring renowned dishes from various regions to customers nationwide. This service allowed users to enjoy famous dishes, such as Biryani from Hyderabad, while residing in cities like Delhi. Despite its innovative concept, the service struggled to achieve its intended success.
Recent Developments and Financial Impact
Earlier this year, Zomato had attempted to revitalize the ‘Intercity Legends’ by reintroducing it in July with a higher minimum order value of Rs 5,000, hoping to enhance profitability. This decision came shortly after Zomato’s acquisition of Paytm’s ticketing business.
In financial news, Zomato’s shares fell by Rs 2.15, or 0.83%, closing at Rs 257.8 per share on the BSE on the same day.
Zomato’s focus will now shift to other aspects of its business as it continues to adapt to the evolving market demands.
