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In March 2019, Zomato sold its UAE food delivery business to Talabat. [37] In September 2019, the firm laid off almost 10% of its workforce (540 people) tending to back-end activities like customer service, merchant and delivery partner support functions. [38]
Following this, Zomato granted a US$150 million loan to Blinkit. Zomato had acquired a 10% stake in company the year prior. [28] [29] Following numerous discussions, on 24 June 2022, Zomato announced that it would acquire Blinkit for US$568 million in an all-stock deal. [15] The acquisition was completed on 10 August 2022. [16] [30]
Swiggy is an Indian online food ordering and delivery company. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023. [4] Besides food delivery, the platform also provides quick commerce services under the name Swiggy Instamart, and same-day package deliveries with Swiggy Genie.
Zepto is an Indian Q-commerce company headquartered in Mumbai, India.It was founded in July 2021 by Aadit Palicha and Kaivalya Vohra. [2] As of August 2024, the company is valued at over $5 billion [3] and operates over 250 dark-stores across ten metropolitan areas in India.
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At the time of the deal, Zomato was valued at roughly $3.55 billion. [29] On January 28, 2020 it was reported that Uber Eats no longer had exclusive delivery rights for McDonald's in the United Kingdom, as the fast food company had partnered with British-based food-delivery company Just Eat. [30]
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