Announced
Financials
Sources
Tags
Friendly
Domestic
Private
instant delivery
Majority
Acquisition
Pending
India
Delivery Services
Single Bidder
Private Equity
Synopsis
Zomato, a food delivery platform, agreed to acquire Blinkit, a grocery delivery startup, from Tiger Global, an investment firm, and SoftBank Vision Fund, a venture capital fund, for $569m. “We have seen this industry grow rapidly, both in India and globally, as customers have found great value in quick delivery of groceries and other essentials. This business is also synergistic with our core food business, giving Zomato the right to win in the long term," Deepinder Goyal, Zomato Founder and CEO.
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