BLINKIT
PayU's LazyPay expands quick commerce partnership with Blinkit addition
LazyPay partners with Blinkit for seamless checkout, expanding its portfolio. PayU's revenue grows in India, driven by the credit business despite regulatory challenges. India remains a key market for digital payments, with significant growth projected in digital credit transactions.
Ecom Express targets $170 million via rights issue
Ecom Express plans a $170 million rights issue with existing investors. Revenue grew 20% in FY23 despite widening losses. The company postponed a public listing like Delhivery and Xpressbees. Serving Meesho, Ecom Express ventures into quick-commerce sector.
Food contamination cases: E-tailers turn more watchful, prepare to delist errant manufacturers
A human finger found in an order of ice cream recently brought food etailing into sharp focus. Following this weird episode, etailers are beginning to cast a keen eye on their suppliers, and bringing new policies with provisions to penalise errant partners.
How capital surge may fuel discount war in quick commerce space
The $665 million funding round at Zepto may trigger a discounting war among players like Blinkit, Instamart, and Flipkart. Blinkit faces increased competition in logistics infrastructure as the quick commerce market heats up.
Zepto raises $665 million funding at $3.6 billion valuation to take on Blinkit, Swiggy Instamart
Company to double dark-store count to 700, taking on rivals Blinkit, Swiggy Instamart and Big Basket’s BB Now; DST Global, Lightspeed Venture Partners, Avenir Growth Capital and Avra joined as new investors in the round led by Glade Brook Capital, StepStone Group and Nexus Venture Partners.
Zepto’s mega fundraise; Oyo funding gets shareholder nod
Quick commerce company Zepto has raised $665 million from new and existing investors. This and more on today’s ETtech Top 5.
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Goldman Sachs sells 44.20 lakh shares worth Rs 183 crore in Paytm via block deal
As per the shareholding data of One 97 Communications, Goldman Sachs Singapore held 84,01,067 shares or 1.32% stake in the fintech payment platform. Paytm shares on Tuesday settled in the red, breaking their two-sessions winning streak.
A quick look at Zomato’s Rs 2,300 crore investment in Blinkit
Food delivery company Zomato will infuse Rs 300 cr into its quick commerce unit Blinkit, we reported on June 11. With this, Zomato has infused nearly Rs 2,300 cr since acquiring Blinkit in August 2022. Zomato will pump Rs 100 cr in Zomato Entertainment Pvt Ltd – the unit that runs the company’s live events and ticketing business.
Zomato to infuse Rs 300 crore in quick commerce unit Blinkit as battle intensifies with Swiggy, Zepto
Food delivery company Zomato will infuse Rs 300 crore into its quick commerce unit Blinkit, as per filings made with the RoC. With this, Zomato has infused nearly Rs 2,300 crore since acquiring Blinkit in August 2022. Zomato will pump Rs 100 crore in Zomato Entertainment Pvt Ltd – the unit that runs the company’s live events and ticketing business.
Zomato’s Rs 300-crore Blinkit boost; Ola Electric gets IPO nod
Food delivery company Zomato will infuse Rs 300 crore into its quick commerce unit Blinkit. This and more in today’s ETtech Top 5.
Food safety violations at Blinkit warehouse: Telangana authority to issue notice
Several products in the Blinkit warehouse were found to have expired and were seized, Telangana's Commissioner of Food Safety said on Thursday. The raid found that cosmetic products were stored with food items and that the licence of Congruence Trade and Services Pvt Ltd – one of the manufacturers of Whole Farm brand – was not as per the Food Safety and Standards Act.
Food safety officials find violations at Blinkit warehouse near Hyderabad, share photos on social media
The Commissioner of Food Safety in Telangana reported on social media that a recent inspection of the Blinkit warehouse in Devar Yamjal, Medchal Malkajgiri District, found the premises disorganized, unhygienic, and dusty, particularly around the storage racks.
Next disruption? Reliance’s JioMart to enter quick commerce space to take on Blinkit, Zepto and others
Reliance Industries, led by Mukesh Ambani, plans to enter India's quick commerce sector, aiming to compete with Blinkit, BigBasket, Instamart, and Zepto. Initially targeting 7-8 cities, JioMart aims to expand to over 1,000 cities. Unlike rivals, it will leverage Reliance Retail's network instead of dark stores. Goldman Sachs estimates the online grocery market at $11 billion, with quick commerce accounting for $5 billion, possibly affecting kirana store sales.
Roadblocks for q-commerce; Mizuho InCred deal
Happy Friday! As quick commerce platforms diversify, they are likely to face operational challenges. More on this in today’s ETtech Morning Dispatch.
Blinkit starts offering free dhaniya with vegetables after viral post. Say thanks to a Mumbai mom
A Mumbai man's post on paying for coriander at Blinkit prompts CEO Albinder Dhindsa to offer free coriander with vegetable orders. Ankit Sawant suggests bundling herbs free with veggie purchases. Netizens were amazed by the speed of implementation by Blinkit
Zomato logs fourth straight quarter of profit at Rs 175 crore
Food delivery platform Zomato on Monday reported a consolidated net profit of Rs 175 crore for the quarter ended March 31, 2024, as against a loss of Rs 188 crore reported in the year-ago period.
Zomato sees Esop costs rising on grant of stock options to Blinkit leadership
Costs incurred under the Esops head are non-cash expenses, and will rise in the ongoing fiscal “on account of grant of Esops to the Blinkit leadership team and senior employees,” the management said in a post-earnings call.
Blinkit turns adjusted EBITDA positive in March as co aggressively bets on store expansion
The company highlighted that one of the key vectors for growth for the business will come through the store expansion. In the fourth quarter, it added 75 net new stores taking the total store count to 526.
D2C brands cough up 30-45% commission for a spot on quick-commerce platforms
Direct-to-consumer (D2C) brands rushing to get listed on quick-commerce platforms are shelling out between 30-45% as commissions, compared to the 10-20% that large, more established FMCG companies pay.
Quick-commerce platform Blinkit to sell PlayStation 5
Sony will be launching PlayStation 5 in India on April 5. It was launched in the US in November 2023. This is an attempt by the quick-commerce company to push itself beyond groceries and essentials.
Urban Company partners with Blinkit to deliver its water purifiers
The water purifiers from Urban Company will delivered within 30 minutes via Blinkit and subsequently be installed in three hours. This service was started on Sunday in parts of Delhi NCR, Mumbai, Bengaluru, Kolkata and Hyderabad.
BigBasket, Flipkart quicken delivery to counter quick-commerce
Tata Digital's BigBasket rebranded its slotted delivery service as "Supersaver" in January, promising sub-two-hour deliveries. Meanwhile, Walmart's Flipkart is offering with free same-day delivery across various categories in 20 cities.
Expect quick-commerce firms to battle ecommerce soon: Zepto investor Glade Brook
In a blog post on LinkedIn, Paul Hudson, founder of investment firm Glade Brook Capital, said that the market is already moving in this direction with Blinkit and Zepto expanding their product assortment. The fund had backed Mumbai-based Zepto last year and invested in Blinkit’s parent company Zomato back in 2019.
Not in a hurry to add new categories; will focus on grocery: BigBasket CEO Hari Menon
Hari Menon told ET that BigBasket will only diversify into adjacent categories to grocery like kitchen and home appliances. Meanwhile, rivals such as Zomato-owned Blinkit and Mumbai-based Zepto are rapidly diversifying into newer categories.
Zepto, Blinkit adding fashion, electronics, beauty and more
Blinkit and Zepto are entering the fashion segment, partnering with apparel firms and sellers for listing of brands including Adidas, Pepe Jeans, Jockey, Manyavar, XYXX and Mad Over Print. While this is new territory for both platforms, people aware of the developments say the companies could end up becoming the go-to destinations for shoppers in certain use cases.
How dark stores are powering quick commerce's rise
At the heart of the ‘quick’ behind this new form of commerce are micro warehouses that have mushroomed all over urban commercial centres. Operated by players such as Zomato’s Blinkit, Zepto, Swiggy Instamart and Bigbasket’s BB Now, they house a limited number of high-frequency use products.
On ‘quick’ path to profitability: Challenges for quick commerce companies
Efforts to make commerce quick has seen spends on areas ranging from data science and technology to customer acquisition and retention. Companies are of the view that growth in the number of orders and subsequently their topline is what will make the bottomline improve.
Zomato plans for Blinkit to deliver more via ecommerce
This major push into the fast-growing direct-to-consumer space would entail Zomato building its own supply chain to directly source branded products and manage stock, multiple people aware of the plans told ET. It would deliver these through Blinkit.
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