Zomato (Online food delivery platform) has announced the acquisition of Blink Commerce (Blinkit), earlier known as Grofers India. The company’s Board of Directors approved a proposal to acquire cash-strapped quick commerce company Blinkit for Rs 4,447 crore. Last year, Zomato extended USD 50 million loans to Grofers India Private Limited. Zomato already owned more than a 9 percent stake in Blinkit (earlier Grofers). While the earlier Blinkit deal value was around $700 million, the drop in Zomato’s share price reduced it to $568 million.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Blinkit is a quick commerce marketplace delivering groceries and other essentials to customers within minutes (an average delivery time of 15 minutes in the month of May). Blinkit was rebranded from Grofers after a pivot to quick commerce last year. Their erstwhile business model was next-day grocery delivery.
Important Takeaways For All Competitive Exams:
The Legendary Motorhead guitarist Phil Campbell has passed away at the age of 64. This…
Veteran Bollywood actress Madhu Malhotra is passed away on March 13 2026. She was passed…
The renowned Tamil poet and lyricist Vairamuthu has been conferred with the prestigious Jnanpith Award…
Did you know that spring brings a magical transformation to certain places where millions of…
Adobe CEO Shantanu Narayen has announced his decision to step down from the role he…
National Vaccination Day 2026 is observed in India on the 16th March every year. This…