Delhi-based online food and lifestyle guide Zomato.com, which recently announced its foray into online ticketing for events, starting with New Year parties at restaurants and hotels in Delhi, Mumbai, Bangalore and Pune, hopes to turn profitable by the end of 2012. Speaking to Financial Chronicle, Deepinder Goyal, CEO, Zomato.com, said: “With the launch of online ticketing service we are confident of break even and turn profitable by the end of 2012.”

“We have Rs 40 crore of ticket inventory online from 220 events taking place across four cites on New Year eve. We have already sold tickets worth more than a crore of rupees. With more than 10 days left for the New Year eve, our plan is to sell tickets worth Rs 20 crore,” said Goyal. According to him, many people make their New Year eve plans closer to the date. “Therefore, we are offering them the option of making preliminary booking, which they could finally confirm closer to the event.”

As for the revenue from the online ticketing of events, Goyal said Zomato gets five per cent of the value of each ticket sold. The other source of revenue for Zomato.com is from advertising from its partner restaurants. Goyal said the rate of advertising on the site ranges from Rs 700 to Rs 800 per thousand impressions.

The IIT-Delhi alumni started it as a part time hobby while they were working with consulting firm Bain & Company. The company had, in September, received a second round of funding of $3 million (Rs 13.5 crore) from Info Edge, which had, in 2010, invested $1 million.