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In November 2022, Zomato introduced Zomato Pay feature, which allowed users to make payments at partner restaurants and avail offers, and partner restaurants to promote themselves. [53] In June 2023, Zomato launched a feature that enabled users to build carts from up to four restaurants and place the order together. [54]
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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]
Following this, Zomato granted a US$150 million loan to Blinkit. Zomato had acquired a 10% stake in the 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]
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[5] Goyal has further stated, as reported by The Seattle Times, that a result of the acquisition will likely be a downsizing of Urbanspoon in Seattle (by ≈10% of its employees), and "phase out its popular restaurant-finding app." [4] Goyal has acknowledged that Urbanspoon was a valuable brand and that Zomato would lose brand equity in the ...