Key Points
Between Julay and September, Blinkits GOV increased to Rs 2,760 crore from Rs 1,482 crore in Q2 FY23, registering a growth of 86 per cent year-on-year (YoY)...
Overall, Zomato's GOV across B2C businesses (food delivery + quick commerce + Going-out) grew 13 per can QoQ and 47 per cent YoY.. . Blinkits adjusted EBITDA margin, as a percentage of GOV, also improved to -4.5 per cent in Q2FY24 from -17.5 per cent in Q2FY23..
In the last 5 quarters post our acquisition of Blinkit, we have seen a steady rise in Blinkits GOV as a percentage of Zomatos GOV in the cities where we have an overlapping presence..
At this pace, where Blinkits GOV is growing at 80%+ YoY, we wouldnt be surprised if Blinkits GOV becomes multiple times larger than Zomatos GOV in overlapping cities, which will more than compensate for the wider geographical footprint of Zomato," Deepinder Goyal, CEO of Zomato, said in the exchange filing on Friday...
As per the deal terms, Blinkits largest shareholder SoftBank received 28.71 crore shares of Zomato, Tiger Global got 12.34 crore shares, and BCCL received 1.5 crore shares and South Korean investor DAOL will get 3.66 crore shares of the food delivery major...
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