Startup Mahakumbh | Blinkit will be bigger than Zomato in a year: Deepinder Goyal
Zomato is not the same company it was 16 years ago when it was launched, founder Deepinder Goyal said. These comments come as the food delivery company plans to take Blinkit beyond just grocery delivery and essentials and venture into ecommerce. Key Points
Economic TimesBulk Deals: China's Antfin sells over 2% stake in Zomato for ₹160.40 per share
Antfin offloaded a total of 176.4 million shares of the company within the price range of ₹160.11 to ₹160.40 per share. The Chinese company held a 6.32% stake in the quick commerce services provider, as of December 2023. Key Points
mintZomato shares fall 4% as Ant likely sells Rs 3,000 crore worth stake in block deal
Zomato shares fell 3.6% on BSE after Ant Financial, an Alibaba-affiliate, sold a 2% stake at a 5% discount. CLSA revised target price for Zomato. The company reported a quarterly net profit of Rs 138 crore with a 69% increase in revenue from operations. Key Points
Economic TimesAnt Financial likely to sell 2% stake in Zomato for Rs 2,800 crore via block deal: Report
It plans to sell 176.4 million shares of Zomato that could fetch around Rs 2,810 crore, reports said. The floor price for the stake sale is set at Rs 159.4, which is a discount of nearly 5% from the current market price. Key Points
Economic TimesZomato joins viral ‘pani mein gayi’ trend after customer orders ‘1 fish fry’
An individual responded to Zomato’s tweet on the viral ‘ek machhli pani mein gayi’ trend with, “Let’s start. Two fish fry.” | Trending Key Points
Hindustan Times
Zomato plans for Blinkit to deliver more via ecommerce
This major push into the fast-growing direct-to-consumer space would entail Zomato building its own supply chain to directly source branded products and manage stock, multiple people aware of the plans told ET. It would deliver these through Blinkit. Key Points
Economic TimesZomato customer stunned by 30 minute delivery of Kebab from Lucknow to Gurgaon, takes legal action
Sourav Mall's order included four dishes, with one being the 'Galouti Kebab' from Lucknow. The other three dishes were sourced from Delhi. Key Points
Business TodayZomato share price today: Why the multibagger stock has dropped 8% in 3 sessions
India Business News: Zomato share price dropped 8% in 3 sessions due to recent trading activity and profit-taking. Find out why the multibagger stock is experiencing a decline and the impact of Motilal Oswal Mutual Fund selling a portion of its stake in Zomato. Learn more about the company's quarterly earnings and revenue growth. Key Points
Times Of IndiaBengaluru resident finds dead cockroach in Zomato order, company replies
“I got a cockroach in my food. Absolutely disgusted with my order!” wrote a Zomato customer while sharing a clip of the dead cockroach in chicken fried rice. | Trending Key Points
Hindustan TimesSoftBank may offload $135-million worth stake in Zomato via block deal: Report
SoftBank has been gradually paring stake in Zomato post the lock-in for Blinkit deal ended in August. As of June end, the Japanese investor, through its affiliate, held 3.35%, which came down to 2.17% in September. Key Points
Economic Times
Alipay exits Zomato via 3.5% stake sale, takes home Rs 3,336 crore
Bank of America and Morgan Stanley acted as advisers to the deal. Among the buyers in the deal were marquee funds including Goldman Sachs, Fidelity Investments, Morgan Stanley, Vanguard, Societe Generale, ADIA. Key Points
Economic TimesZomato block deal alert: Alipay said to have sold 29 crore shares; stock up 4%
Alipay, owned by Ant Group, was looking to offload its entire 3.44% stake in Zomato, according to reports. A confirmation will come only in the evening when bourses release block and bulk deals data. Key Points
Economic TimesAnt Group arm to offload 3.4% stake in Zomato for Rs 3,290 crore
According to a term sheet released by the deal broker, BofA Securities, Alipay Singapore Holdings, an entity of the Ant Group, has proposed to sell 296.1 million shares at an offer price of ₹111.28 per share. The offer price is at a 2.2% discount to Zomato's closing price on Tuesday. Key Points
Economic TimesExclusive: China's Alipay to sell its stake in India's Zomato for nearly $400 million
Chinese payments group Alipay plans to sell its 3.4% stake in Indian food delivery giant Zomato (ZOMT.NS) for nearly $400 million through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Key Points
ReutersZomato Q2 results: Blinkit turns contribution positive on low base effect
Zomato acquired Blinkit (formerly Grofers) and its warehousing and ancillary services business in August 2022. The deal was announced in June 2022. Key Points
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India's Zomato posts surprise Q2 profit as people order more food online
India's Zomato (ZOMT.NS) on Friday reported a surprise profit for the second quarter, as consumers ordered more from restaurants and its online grocery stores. Key Points
ReutersSoftbank sells 1.09 pc stake in Zomato worth Rs 1,040 crore
New Delhi, Oct 20 (PTI) Japanese conglomerate Softbank on Friday divested a 1.09 per cent stake in online food delivery platform Zomato for Rs 1,040 crore through an open market transaction. Softbank through its affiliate SVF Growth (Singapore) Pte Ltd offloaded shares of Zomato on the National Stock Exchange (NSE). Bandhan Mutual Fund (MF), Motilal […] Key Points
ThePrintSoftBank to offload 1.1% stake in Zomato worth Rs 1,024 crore via bulk deal: Report
According to reports, the offer price is set around Rs 109.4-111.6 per share and the transaction is valued at 1,024 crore. SoftBank holds a 2.17% stake in the company, at the end of September quarter. Key Points
Economic TimesZomato and McDonald's fined Rs 1 lakh for delivering non-vegetarian food to vegetarian customer
The complainant, a vegetarian, had ordered a vegetarian burger from McDonald's through Zomato. However, when he received the order, he discovered that it contained non-vegetarian items. Key Points
Business TodayZomato, McDonald's fined ₹1 lakh for delivering non-veg food in vegetarian order
The consumer has also been awarded ₹5,000 as cost of litigation. Both the penalty and cost of litigation are to be borne jointly by Zomato and McDonald’s. | Latest News India Key Points
Hindustan Times
SoftBank likely to fully exit Zomato in coming months
According to sources, SoftBank has around 2.18 per cent remaining stake in Zomato which it is likely to sell via block deals. SoftBank bought Zomato stake in June last year for around Rs 71. For the company, Zomato is just an investment on which the company has made significant profits. Key Points
Economic TimesSoftBank fund cuts stake in India's Zomato in $115-million deal
BENGALURU (Reuters) - SoftBank Vision Fund on Wednesday sold a 1.17% stake in Indian food delivery firm Zomato in a deal valued at 9.47 billion rupees ($114.7 million), exchange data showed. The Key Points
ThePrintSoftBank fund cuts stake in India's Zomato in $115-mln deal
SoftBank Vision Fund on Wednesday sold a 1.17% stake in Indian food delivery firm Zomato (ZOMT.NS) in a deal valued at 9.47 billion rupees ($114.7 million), exchange data showed. Key Points
ReutersSoftBank expected to sell Zomato shares for Rs 940 crore
SoftBanks sale of Zomato shares follows the complete exit of the New York-based Tiger Global from the company. Tiger sold 1.44% stake, or 12.35 crore shares of the Zomato on Monday for Rs 1,124 crore. Key Points
Economic TimesPE firm Tiger Global sells remaining stake in India's Zomato in $136 mln deal
U.S.-based private equity firm Tiger Global on Monday sold its remaining stake in Indian food delivery firm Zomato (ZOMT.NS) in a deal valued at 11.24 billion rupees ($136.08 million), according to exchange data. Key Points
Reuters
Japan's SoftBank likely to sell shares in food delivery app Zomato, reports CNBC-TV18
Zomato, which acquired the quick grocery-delivery startup Blinkit for $538.05 million last year, had issued a 3.55% stake to investor Softbank as part of the deal. Key Points
ThePrintIndia's Zomato posts first-ever profit earlier than expected
India's Zomato (ZOMT.NS) posted its first-ever profit on Thursday, one quarter earlier than expected, helped by a tax gain and strong orders in its food and grocery delivery businesses. Key Points
ReutersZomato stock rallies 12% in a week; are there more legs to this rally?
Shares of the online food delivery aggregator surged more than 12% in the week gone by and scaled a 52-week high of Rs 84.50 on Friday.Most of the stocks in this space have had a strong run in 2023, after the massive sell-off in 2022. Key Points
Economic TimesZomato share snaps 8-day winning streak, topples over 5%; should investors still buy this stock?
Zomato's share price falls by over 5% after the company liquidated its subsidiary in Australia, ending its 8-day winning streak. However, Kotak Institutional Equities recommends purchasing Zomato shares as the company focuses on better monetization across businesses. Key Points
mintZomato shares zoom over 18% in 7 days, hit 52-week high
Shares of Zomato, an Indian online food delivery aggregator, jumped 17.5% in the past week and touched a 52-week high of Rs 80 ($1.07) on 28 June. The company's shares were listed at a significant premium of Rs 125 per share in 2021 after its IPO. Zomato reported its Q4 results on 19 May, with its earnings before interest, taxes, depreciation, and amortisation (EBITDA) turning positive at Rs 28 crore. The company has narrowed its losses to Rs 188 crore while recording a 70% YoY increase in consolidated revenue at Rs 2,056 crore. Key Points
Economic Times
Man orders Starbucks coffee worth Rs 400 for Rs 190 from Zomato while sitting inside the coffee shop
While Starbucks is known for its quality, it can be quite expensive, with a typical coffee costing around 300-400 rupees. However, with apps you can get huge discounts. Key Points
India TodayZomato in sweet spot as stock nears IPO price
Zomato has given a boost to investor appetite, delivering 11.6% returns in the past one week. Key Points
FinancialexpressZomato and Blinkit set to take the next leap, plans to introduce generative AI to enhance its services, claims report
Reportedly, food delivery company Zomato is testing generative AI to improve the overall customer experience. Blinkit, a quick commerce platform, is also recruiting experts in machine learning, data science, and natural language processing to create AI-driven products, as per report. Key Points
mintZomato says 72 per cent of its COD orders were paid in Rs 2,000 notes since RBI's recent announcement
RBI recently announced that it is withdrawing Rs 2,000 notes from circulation. And since then, it looks like people have started paying for food orders via Rs 2,000 notes. Zomato revealed the same in a tweet. Key Points
India TodayFIIs vs MFs: Who's buying or selling Zomato, Paytm & other new-age stocks?
Mutual funds are showing interest in new-age stocks, with increased holdings in Delhivery, Nykaa, Paytm, and Zomato during Q1 2022. However, retail investors seem hesitant due to the companies' profitability, with only Zomato attracting investment from those with investments up to Rs 2 lakh. Meanwhile, foreign institutional investors (FIIs) have increased their holdings in Nykaa and PB Fintech and sold their shares in the remaining three new-age stocks. Although the stocks fell dramatically last year, some investors are increasingly attracted to their growth potential. However, others caution against investing in loss-making companies. Key Points
Economic Times
Zomato wants you to shell out Rs 4 for every order. Here's why it is doing that
The new fee, which will be charged from users, rolled in from January 1. In August last year, Zomato had put in Rs 2 platform fee in a bid to improve its margins. It increased it to Rs 3 before doing it again now. Key Points
Business TodayAt Rs 2 crore, Zomato turns profitable for first time this quarter
The Gurgaon-based company reported a net profit of Rs 2 crore for the three-month period ended June 30 as against a net loss of Rs 186 crore in the same period last year. Zomato also reported a 70% year-on-year surge in operating revenue to Rs 2,416 crore. Key Points
Economic TimesZomato has the right execution ingredients in place, for now
Not only did more customers order last quarter, but the frequency of ordering was higher, too. This was largely driven by its loyalty programme—Zomato Gold— where the members doubled to 3.8 million. Key Points
mintZomato block deal: SoftBank reportedly sells 1.09% stake worth Rs 1,000 crore
SoftBank, through its affiliate SVF Growth Singapore Pte, has sold a 1.09% equity stake in Zomato in a bulk deal worth Rs 1,040.5 crore. This comes after SoftBank offloaded a 1.17% stake in Zomato in August. The Japanese investor has been reducing its stake in Zomato as the lock-in period for the post-Blinkit deal ended in August. SoftBank has also been reducing stakes in other companies, including PB Fintech and Paytm. Key Points
Economic TimesIf market gives up 1,000 points in Oct-Nov, one can start fresh allocations: Sandip Sabharwal
In the near term, my personal view was that the market should remain fine till September. Market moved up from 16,800 to 20,000, a 3200-point move. In October-November, if we get a deeper correction and if the markets give up around 1,000 points of gains, then we could be looking to start buying in terms of fresh allocations. Key Points
Economic Times
Meet Akriti Chopra, Co-Founder of Zomato who earned Rs 149 crore ESOP; Know about her life, net worth & more
In 2021, Akriti Chopra’s salary was Rs 1.63 crore per annum. Key Points
FinancialexpressZomato shares rally 4% even as JM Financial trims food delivery biz growth estimates for FY23-27
JM Financial lowers its forecast on Zomato’s food delivery segment growth at a CAGR of c.21% over FY23-27 versus the earlier estimate of ~25%, contribution margin (as % of GOV) could reach ~7% by FY27 versus FY34 expected earlier. Key Points
mintZomato’s ‘pure veg’ innovation should launch a thousand identity-targeted consumer services
In textbook terms, ethno-marketing is a set of actions and communication directed towards sharply defined ethnicities, connected to their specific customs, beliefs or festivities. Naturally, it excludes those who do not belong to the designated group, by strategic choice and not diabolical plots. In the West, it usually focuses on minorities, on the prevailing logic that majority is anyways the primary recipient of productive mainstream messaging. Key Points
The Economic Times'It has pockets!': Zomato unveils new kurta for women delivery partners on Women's Day
Zomato allows women delivery partners to wear kurtas instead of western-style t-shirts. The decision was well received by many employees. Key Points
mintSoftBank fund to sell 1.1% stake in Zomato for ₹1,023.6 crore: Report
SoftBank's SVF Growth to sell 1.1% stake in Zomato for $123.24 million Key Points
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