19 March 2024 – In a year, the meal delivery business of parent Zomato’s quick-commerce site Blinkit would surpass it in size, said Deepinder Goyal, CEO of both firms, at the Startup Mahakumbh event, which took place here on Monday for three days.
“Our focus lies in disrupting our businesses,” Goyal said during a discussion with Sanjeev Bikhchandani, vice-chairman of Info Edge India and a member of Zomato’s board of directors. This will result in Zomato version 5 or Blinkit version 2. Version 4 of Zomato includes Blinkit, which will surpass Zomato in size in a year.
Thus, I’m not sure how long Zomato will be relevant,” Goyal said. In response, Bikhchandani joked that Zomato will continue to be important in the future since there will always be a demand for food delivery services. Goyal said, “But maybe somebody else will disrupt the way food is being delivered to customers.”
Conclusion
In 2022, Zomato paid $570 million in all-stock compensation to buy Blinkit. Established as an online grocery delivery business called Grofers, financed by Tiger Global, SoftBank, and Sequoia Capital India (now Peak XV Partners), Albinder Dhindsa founded the quick-commerce company. At the moment, Zomato’s primary business is meal delivery, which accounts for around 56% of its total income.
