GROFERS
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.
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
ETSA 2023 Comeback Kid Winner | We wanted to be in the driver's seat to control our destiny: ZopSmart’s Mukesh Singh
Singh and his cofounders, Raj Pandey and Vikash Kumar, bought out the investors in the startup with their personal money and transitioned it to a business-to-business (B2B) enterprise, offering its omnichannel retail expertise to retailers globally under a new name, ZopSmart.
Why is Blinkit showing ‘temporarily unavailable’?
Zomato-owned quick commerce platform Blinkit is facing opposition from its delivery partners for lowering the payout for every delivery. The company has reduced the payout from earlier Rs 25 to Rs now Rs 15 for each delivery. This has led to protests by several delivery partners across the Delhi-NCR region. The delivery partners feel that this will considerably reduce their earnings.
Problem isn’t Rs 15 payout: Ashneer Grover reveals the real reason behind Blinkit/Zepto issues
“BlinkIt / Zepto - problem is not ₹15 for delivery against ₹50,” Ashneer Grover tweeted. “Problem is 10 Min delivery has no economics - low ticket size and low margin can never be solved through forced low delivery cost. BlinkIt journey : 90 Min (bull run) —> Next day (bear run) —> 10 Min (bull run) —> ??”, he added.
Valentine's Day: Blinkit delivers 10,000 roses by 10 am on the special day of love, says CEO
As per Blinkit CEO Albinder Dhindsa, by 10 a.m. on February 14, Blinkit had delivered over 10,000 single roses.
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Zomato targets breakeven by Q2 FY24, lowers investment guidance to $320 million
In an analyst call, Goyal said Zomato was already positive on cash flow with its adjusted EBITDA losses at Rs 150 crore and other income was Rs 170 crore in the first quarter of the ongoing fiscal."So, in some ways, we are not losing cash in that business anymore...we got to adjusted EBITDA breakeven in the food delivery business," he added.
Zomato shares up nearly 7% as analysts project bigger order volumes
Ant Group-backed Zomato made a strong debut on the Mumbai market last year, but concerns about its valuation have brought down its market value by about 68% since then.
Zomato's Blinkit acquisition: For the investor, the devil is in the details
While Blinkit does align to Zomato’s food delivery business and its ambition to step into online grocery business, the stock price of the company has halved since it listed on July 23, 2021.
Blinkit on Zomato Plate: Board OKs Rs 4,447cr Deal
Transaction value 40% lower than Blinkit’s last valuation of just over $1 b; Blinkit shareholders to get about 7% in Zomato
Zomato board likely to approve Blinkit acquisition on Friday
"Pursuant to Regulation 29 of Listing Regulations, as amended, this is to inform you that a meeting of the board of directors of Zomato Limited ("the Company") is scheduled to be held on Friday, June 24, 2022, to discuss a potential acquisition transaction by the Company," the food delivery giant said in a filing
Shark smells blood: After BharatPe and Grofers, Ashneer Grover says it’s time for ‘third unicorn’
Ashneer Grover's post comes months after BharatPe’s board of directors removed him from all positions at the company and stripped him of his cofounder tag over alleged financial irregularities and governance issues during his tenure.
Zomato to give $150 million loan to Blinkit
The loan will be given to Grofers India Pvt Ltd (GIPL), Blinkit’s Indian entity, at an interest rate of 12% a year for a tenure of not more than a year, the food delivery company said.
Goodbye Grofers, hello Blinkit; Indian startups’ tax woes
Deliveries in 10 to 20 minutes, unthinkable in India just a few years ago, is now a reality in many cities. For obvious reasons, grocery firms are at the forefront of the so-called “quick commerce” market.
Grofers rebrands as Blinkit to underscore quick commerce focus
Grofers has rebranded as Blinkit to indicate its focus on the fast-growing quick commerce space in India. The company now claims to be processing a million such orders every week across 12 cities.
Grofers to turn unicorn with Zomato funds
Tiger Global, investor in both Zomato and Grofers, will also participate in the $120 million funding round. The companies had explored a potential merger at the onset of the pandemic last year but the talks fell through.
Grofers set for unicorn club
From Grofers eyeing an entry to India's startup unicorn club to the rise of Thrasio-like startups and Twitter facing another FIR, here's a quick look at the top tech news today.
Grofers onboards 60 campus hires from premier institutions across India
The company said it has hired delivery and warehouse staff from industries that have been deeply impacted by the crisis in the last few months.
Gayam Motor Works announces expansion to UK and European markets
GMW's SmartAutos are currently being used by ecommerce majors such as Flipkart, Grofers, BigBasket, Delhivery, Amazon, IKEA and several others for their middle-mile and last mile hyper-local logistics.
Milkbasket plans to launch IPO next year
The online grocery delivery segment has gained significant traction amid COVID-19 pandemic. Offline retailers, who have taken a major hit on account of the lockdown, are also keen on partnering with digital platforms to facilitate the delivery of goods.
Gamezop raises Rs 32 crore funding from Bitkraft Ventures, others
Operated by Advergame Technologies, Gamezop was founded by Yashash and Gaurav Agarwal in 2015. It has 34 million monthly active users.
Grofers partners 600 new local and regional FMCG brands
Grofers, which operates on an inventory-led model, gets nearly half its Rs 2,000 crore annual sales from its own brands and labels.
Indian startups like Grofers, Zomato start restoring salaries after pay cuts
While the country's economy has gradually begun to open up, albeit under a tight leash, the startups are beginning to reinstate the salaries that had been slashed in the April-June quarter.
Paytm Mall in talks for Grofers stake as SoftBank pushes for consolidation
Online retailer Paytm Mall has held talks with e-grocer Grofers for a potential investment, multiple people in the know told ET, adding that the ongoing discussions may even lead to a merger.
BigBasket, Grofers, others may clock $3 billion sales
India's online grocery market could top $3 billion in sales this year, a 76% increase over last year, as the spike in demand for home delivery of fresh produce and staples seen during the nationwide lockdown is expected to sustain through the rest of the year.
Grofers is in talks to raise $60-70 million
The funding comes at a time when the company’s sales and margins have doubled, compared to the same period last year.
Grofers put offline sales, beauty biz employees on furlough due to lockdown losses
A Grofers spokesperson told ET 70 team members of its ancillary business dealing with non-essential categories were affected.
Zomato places an order for Grofers at $750 million valuation
Japanese conglomerate SoftBank Vision Fund, the largest shareholder in Grofers, may look to invest around $100-200 million in the merged entity, sources close to the matter said.
Zomato smells opportunity in groceries, pings Grofers, BigBasket
This is a major step towards diversification and a move to keep demand high at a time when most businesses are registering a slowdown. Online food ordering has taken a hit in the past week with order numbers falling by as much as 20%.
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