Quick commerce company Blinkit is now larger than its parent company, Zomato. Two years ago, Zomato bought Blinkit for a bargain price, but in the meantime, it has grown with potential to a point where it’s now bigger than the core business.
Money Control reports that it was first seen as an “albatross around Zomato’s neck” when it announced acquiring Blinkit in 2022. Blinkit was formerly known as Grofers, and according to reports, investors saw this acquisition as Zomato, throwing it a lifeline.
The quick commerce is a popular modern company with more than half a million subscribers to its YouTube channel. Blinkit Pitstop talks about healthy food options to make and business success stories. The quick commerce has over 400 dark stores throughout the 20 cities it operates in.
Why Zomato acquired Blinkit
It’s reported that Blinkit was acquired for $568 million, but its valuation has since grown to $13 billion. Blinkit is a clear standout player in the food industry. It was founded in December 2013.
The food delivery company Zomato is currently valued at around $20 billion. According to Money Control, Food delivery, Hyperpure, and Dining Out are Zomato’s other divisions making up for the remaining amount.
Blinkit aims to “transform India’s vast unorganized grocery landscape” with technology and innovation. “We believe every Indian deserves the opportunity to continually improve their life – a process that often begins at home.”
One of its goals is to create “healthier and better choices” for customers to buy and be conveniently delivered to their doorstep. However, for this, a company needs an outstanding technology stack.
The Binkit platform does just that: “[It] serves as a convergence of consumers looking for everyday essentials, partner stores who serve their needs efficiently, and manufacturers looking for a channel to reach a nation of consumers.”
Meet Blinkit’s CEO
Albinder Dhindsa is the founder and CEO of Blinkit. However, he worked at Zomato, the holding company, before taking the reins over. He was responsible for global expansion. One of Dhindsa’s main dreams was to deliver groceries to customers in record time. Its delivery record is under 10 minutes.
Future of quick commerce in India
Quick commerce is slowly becoming extremely popular again, especially among the younger generation, reports the Economic Times. But it seems to be stepping away from delivering food in under 10 minutes. It can now be anything from T-shirts to cell phones.
About the author
Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
