The marriage of the two companies has been a long time coming. Yet, it makes little sense.
The long speculated acquisition of Blinkit (previously Grofers) by Zomato has finally been announced. The latter’s board of directors approved the acquisition on Friday evening and it is now awaiting approval from the shareholders and stock exchanges. It’s an all-stock deal with the grocery delivery startup valued at Rs 4,447 crore, or about $570 million.
At the moment, Zomato already holds 9% and 8.4% in Blinkit’s B2C and B2B entities, respectively; it had invested $100 million, or about Rs 750 crore in Blinkit in August 2021. Earlier this year, Zomato had also extended a loan of up to $150 million, …
Harveen is a co-founder at The Morning Context, and leads our Internet coverage. She has previously worked as a media, consumer and tech reporter at The Ken and Mint. At The Morning Context, she writes on startups, venture capital, consumer and media businesses across India and the Middle East—from e-commerce to healthtech to streaming.
Editor, Internet
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