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Zomato said to lead $470m investment in grocery delivery unicorn Grofers


Zomato said to lead $470m investment in grocery delivery unicorn Grofers
Visual from www.groupon.co.in
July 27, 2021
Zomato Ltd is set to double down on the online grocery market. The food delivery platform, which went public last week, will lead a ₹3,500 crore ($470 million) investment in Grofers, which turned unicorn recently, two people directly aware of the development said.
Several global investors will join Zomato in investing in Grofers, the people said, requesting anonymity. Zomato invested $100 million in Grofers about a month ago for a 9.3% stake, valuing the online grocer at more than $1 billion.
“There are new private equity investors who are banking on the growth story of the online grocery delivery business. Alongside, Zomato is keen to strengthen its network in the grocery delivery space for which Grofers can play a vital role,” one of the two people said. ....

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Mukesh Ambani's Reliance Retail second-fastest growing retailer in world


Billionaire Mukesh Ambani s Reliance Retail Ltd has been ranked second fastest growing retailer in the world in the 2021 ranking of global retail power houses by Deloitte, down from top rank secured the previous years.
It has been ranked 53rd in the list of Global Powers of Retailing, improvement from 56th earlier, according to the Deloitte report.
The list is topped by US giant Walmart Inc, which retains its position as world s top retailer. Amazon.com Inc improved its position to rank second. Costco Wholesale Corporation of US slipped a rank to be placed third followed by Schwarz Group of Germany. ....

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