Fresh food on a zomato plate..! Price alone is a bit costly ..!

Zomato, India's leading food delivery service provider, has been investing in a number of companies for the past two years to expand it's business and large-scale service enhancement. In this quest, zomato, led by Deepinder Goyal, has been trying to capture grofers for a long time, but grofers changed its name to Blinkit and traded in a financial crisis.
Taking advantage of this opportunity, zomato invested and acquired a significant number of shares and subsequently decided to acquire a majority of the shares and acquire the bulk. The zomato board met on friday as the final decision on the takeover of Blinkit was to be made at the zomato board meeting.The acquisition of Blinkit a few months ago was valued at about $ 1 billion during negotiations. But Blinkit is currently valued at only $ 700 to $ 750 million. Blinkit acquired unicorn status last year with a market value of $ 1 billion, raising $ 120 million in an investment round led by zomato, tiger Global, but zomato has since captured $ 700 million.With the Zomato-Blinkit deal, Blinkit investors are expected to acquire a 7 percent stake in zomato for Rs 70.76. Prior to the acquisition, zomato had acquired a 9 percent stake in BlinkIt through its previous investment.

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Sowmiya Sriram

25/06/2022 07:35 PM