BLINKIT URBAN COMPANY
Heat, humidity or hale: 'majboori' makes gig workers brave the elements
As Delhi's extreme summer transitioned from heatwaves to humidity and now monsoon rains, gig workers on two-wheelers continued delivering essentials. Despite weather hazards, they endure long shifts, often over 12 hours, due to economic necessity. Efforts by companies to provide rest areas and emergency support have been limited and sometimes inaccessible.
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.
Why Mukesh Ambani can't ignore a new consumer habit
Reliance Industries (RIL) chairman Mukesh Ambani is expanding the company's retail empire to include quick commerce services through JioMart. This move aims to compete with players like Blinkit and BigBasket, leveraging Reliance's extensive reach and resources. The shift towards quick commerce reflects changing consumer habits, favoring convenience and instant deliveries.
Quick commerce 2.0, and other top tech & startup stories this week
Quick commerce, the buzziest sector in the consumer internet industry, is undergoing a significant transformation. We, at ETtech, have been tracking the sector super closely and bringing the biggest and most impactful stories to you, first.
Share of quick commerce in online FMCG sales rockets to 35% in FY24
Quick commerce drove overall ecommerce for these companies as well as the broader fast moving consumer goods (FMCG) industry, company executives said.
Zomato shares may surge 18% as Blinkit likely to drive upside: Emkay Global
Emkay Global raises Zomato's target price from Rs 170 to Rs 230 per share, projecting an 18% upside potential, factoring in Blinkit's growth. With increased EPS and EBIT estimates, Blinkit's improved product-market fit drives valuation changes, indicating market expansion in metros and large cities.
- Go To Page 1
Uber’s hyperlocal push; Paytm Bank’s bill pay biz transferred
Happy Thursday! Ride-hailing platform Uber is strengthening its hyperlocal deliveries from neighbourhood stores. This and more in today’s ETtech Morning Dispatch.
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.
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.
Zomato’s ecommerce push; Byju’s failure to recover vendor dues
The Deepinder Goyal-led company is looking to augment the front-end offerings of Blinkit by having an in-house back-end supply chain where it would source, manage the inventory and enable distribution of brands, multiple people aware of the company’s plans told ET.
Zomato hits pause on Blinkit integration to focus on building super brands
When Zomato acquired Blinkit for $570 million in an all-stock deal in 2022, analysts and investors were watching out for how the latter would get integrated with its food-delivery parent.
2023 Year In Review: quick commerce was lapped up by the urban public, but has a long way to go
While executives in the industry said that the public demand for quick commerce had been established, especially in urban and high-population-density areas, the key task in 2024 would be to improve profitability and experiment with various categories as well as sale events.
Unicorn drought ends as Zepto raises $200 million at $1.4 billion valuation
The timing of Zepto’s fundraise is significant given the slump in investments into growth- and late-stage startups on the one hand and the correction being witnessed in the quick commerce segment on the other.
Online deliveries in deep water after heavy rains as monsoon lashes northern India
Heavy rains in urban areas, including Delhi and the National Capital Region, have severely affected online deliveries. The flooding of roads and the overwhelmed drainage system caused delivery services such as Swiggy, Zomato, Zepto, and Milk Basket to stop accepting orders. Many consumers, especially those in need of daily essentials, food, and medicine during the pandemic feel cut off. Restaurants are also facing severe disruption, with kitchen operations, supplies, and dine-ins being hampered as well.
Zomato-owned Blinkit’s quarterly revenue jumps 20% to Rs 363 crore; GMV crosses Rs 2,000 crore
While Blinkit’s total number of orders jumped 25% to 39.2 million quarter-on-quarter, its average order value dropped yet again to Rs 522, down from Rs 553 in the quarter ending December 31, 2022.
Leaving Urban Company board was right since we are exploring something similar: Zomato CEO Deepinder Goyal
Zomato’s chief financial officer Akshant Goyal said while there is no ‘big decision’ right now related to their foray into the at-home services industry, they are exploring their options.
Wholesome meal at a deal! Motilal initiates coverage on Zomato, sees 30% upside
In its report, Motilal stated that the food delivery industry in India is all set to grow rapidly in the medium term driven by intensifying internet penetration, rising consumption and growth in urbanization. "Zomato is a dominant player in the industry and we forecast the company to report 29% revenue CAGR over FY23-25," it said.
Zomato-owned Blinkit to lose about 1% revenue due to delivery workers' strike: ICICI Securities
A research note from ICICI Securities adds that the tweak in the payout structure for delivery executives will help Zomato rein in costs.
Zomato CEO Deepinder Goyal quits Urban Company board as Blinkit plans similar services
Zomato-owned Blinkit plans to go head-to-head with its rival Urban Company, a segment leader, by making carpenters, plumbers, electricians and other service partners at home available.
Nexus mops up its largest ever fund at $700 million; Blinkit may launch at-home services
Nexus Venture Partners announced the close of its largest-ever fund at $700 million which comes at a time when startup funding has plummeted due to the ongoing tech winter. Zomato's CEO Deepinder Goyal has resigned from the board of Urban Company and interestingly enough Blinkit is mulling an entry into the segment.
Zomato stock jumps on reports that Blinkit might venture into home platform services
"Growth in revenue per order led to a higher revenue growth of 28% quarter-on-quarter. All of this growth has come without any expansion in our dark store footprint as evident from the increase in the GOV per dark store," the company had said earlier in a statement.
Oyo revives IPO plans; Ola sacks 200 more engineers
Oyo Hotels & Homes, which filed for an initial public offering in October 2021 but put it off earlier this year because of the pandemic and global macroeconomic headwinds, is reviving its plans for a stock-market debut after cost cuts and recovery in travel helped it reduce losses.
The gig economy evolution: reshaping India's online consumption
Want food? Zomato and Swiggy are here. Want to send a package to a friend? There’s Dunzo and Porter. Not well and need medicines delivered? 1MG and PharmEasy will arrive at your doorsteps.
Zomato drops 3%; board likely to ink Blinkit deal next week
Shares of Zomato plunged 3 per cent to Rs 67.85 on Tuesday before trading at Rs 68.10 at 10.35 am. The scrip had settled at Rs 69.85 on Monday.
Zomato likely to sign Blinkit deal on June 17
Zomato has previously invested in Blinkit, and extended a loan of up to $150 million for the quick-commerce entity earlier this year.
Blinkit bags $100M from Zomato; Amazon seeks Reliance talks
Blinkit has raised $100 million through convertible notes from Zomato for the time being.
PE, VC sector continues to grow with AUM in excess of $150 billion
The e-commerce sector has become one of the predominant sectors for PE/VC investments in 2021 recording US$15.9 billion, accounting for 21% of the total PE/VC investments in 2021 and more than five times the investments received in 2020.
Zomato’s Deepinder Goyal transfers his Blinkit shares to Tiger Global
The share transfer comes as Zomato is ramping up its investment in Blinkit (formerly Grofers), after abandoning its plans to enter the e-grocery segment for a second time since the pandemic hit.
The rise of dark stores: Unused cinemas & marriage halls become hub of 10-minute delivery services
As the pandemic gave wings to online delivery, everyone wanted everything at their doorsteps, and fast, paving the way for quick commerce and rise of dark stores in the country.
Load More
