Zomato, the food delivery company has adopted Blinkit for Rs 4,447 crore in a deal. This deal is Zomato’s strategy of investing in the commerce business.

Zomato purchases Blinkit

Zomato is looking into the quick delivery market and therefore, it has adopted Blinkit, which was formerly known as Grofers.

The customers have also approved quick delivery of groceries and other essentials during the pandemic. Quick commerce business is growing rapidly and it is also helpful in their core food business.

This step of acquiring Blinkit will be helpful in the existing food business is growing towards profitability.

Chief Financial Officer of Zomato, Akshant Goyal said the transaction will be closed in August 2022 as per stock exchange approvals.

Blinkit (or Grofers) operates in over 20 Indian cities. It delivers products ranging from milk, fruits and vegetables and electronics as well. Grofers rebranded itself last year in order to speed up deliveries of groceries to electronics.

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