India’s Zomato Bites the Bullet on Quick Commerce

219
India’s Zomato Bites the Bullet on Quick Commerce

[ad_1]

Zomato is moving in the right direction at the wrong time—at least that is what the market seems to think.

On Friday after market hours, the Indian food-delivery firm said it would buy 10-minute grocery delivery startup Blinkit for about $578 million in a stock-and-cash deal: a long-awaited play for the fiercely competitive market for quick commerce—delivery of goods within 10 to 30 minutes of ordering. But the stock fell as much as 7% on Monday before recouping some losses. Shares are down 61% since hitting a record in November.

,

[ad_2]

LEAVE A REPLY

Please enter your comment!
Please enter your name here