Zomato share halts four-session losing streak; rises 4%
Zomato share price has fallen 25% in the four sessions starting Monday after it announced the acquisition of instant grocery delivery firm Blinkit.
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What's behind Zomato’s Blinkit acquisition?
Revenue growth in food delivery is tapering out. How do you continue growing? Quick commerce opens up a new market as the grocery market is much larger than the food delivery market, says an analyst
Zomato share falls 5% post deal to acquire Blinkit
Shares of Zomato fell 5.5% after the food delivery company announced to acquire e-grocery startup Blinkit for ₹4,447 crore in an all-stock deal.
Zomato buys Blinkit for ₹4,508 crore in all-stock deal
Zomato is fully acquiring Blinkit through issuance of nearly 62.9 crore shares, equivalent to equity stake of 6.88% on a fully-diluted basis
Zomato board likely to approve Blinkit acquisition; stock rises 3%
The board of Zomato will meet on June 24 to discuss a potential acquisition of e-grocery startup Blinkit (formerly Grofers)
Extreme quick commerce: Blinkit won’t deliver to locations 10-min plus
Blinkit's decision to stop deliveries in certain areas furthers its idea of being “insanely consistent” with the promise of making deliveries in 10 minutes.
Grofers rebrands itself as Blinkit
Blinkit—which is building a 10-minute delivery model of everyday essentials—claims to be already processing over a million orders a week across 12 cities in India.
Swiggy to invest $700 mn in Instamart in quick commerce push
Co will make deliveries in 15 minutes at least in the top cities by January 2022. “Instamart is set to reach an annualised GMV run rate of $1 billion in the next three quarters,” says CEO Majety.
Covid-19: Lockdown slows down online grocers
E-commerce firms delivering essential commodities faced many hassles on Day One of the 21-day national lockdown; they’re working with local authorities to resolve the issues.
Surge in online orders as coronavirus fears spread
India witnessed a record jump in total number of Covid-19 cases to 258 as 63 new cases were confirmed on Friday.
