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As the company moves to generate revenues outside food delivery, the proportion is starting to shift. It is now banking on businesses like Blinkit and Hyperpure to power its growth ....
Central to the new Zomato growth menu is Blinkit (formerly Grofers), the quick commerce company Goyal bought for a substantial Rs 4,447 crore in June 2022. That was a big bet at a time when the Zomato stock was floundering, and the investors had to be convinced the deal was worth going for despite the steep asking price. But Goyal went with his instinct and picked up Blinkit, which today is one of the key reasons why it is racing towards what could be its first full year of profits. - Issue Date: Mar 03, 2024 ....
Deepinder Goyal’s Zomato together with arch-rival Swiggy dominates the country’s food delivery landscape. However, there’s a big difference: Zomato is now a listed company and, more importantly, has been making profits for the past three quarters. Not surprisingly, the Zomato stock has been on a strong upward trajectory as investors begin understanding the strategy that Goyal and his top management have been rolling out over the past year or so. In this issue read more about Goyal's brand new strategy that foresees Blinkit to be larger than Zomato in the near future. Plus, a special package on mutual funds. All this and more on the latest issue of BT. On stands now ....