After the firm announced that it will be discontinuing its Intercity Legends services, Zomato’s stock price increased by more than 3% on Friday. On the BSE, Zomato shares increased by as much as 3.68% to ₹267.30 a share.
Deepinder Goyal, the CEO of Zomato, announced on Thursday that the Intercity Legends services would be discontinued immediately due to “not finding product market fit.” Taking to his X account, she wrote, “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.”
Zomato Legends, which debuted in 2022, offered iconic foods from 10 cities to the rest of the country. In July 2024, the online meal delivery giant temporarily stopped the service before restarting it with a few tweaks to make orders more profitable.
As of 10:19 am, Zomato shares were trading 3.59% higher at Rs 267.21 on the NSE.
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