Zomato Sets Eyes On Grocery Delivery Dominance, In Talks To Acquire Grofers
Zomato is all set to establish its dominance in the grocery delivery segment, as Zomato is in talks to acquire online grocery platform Grofers.
As per a report by ET, Zomato is all set to acquire Grofers in an all-stock deal. Presently, Zomato is valued at around $3.2 Billion and in its last funding round, Grofers valuation stood at $650 Million.
If the deal happens, it will value Grofers at around $750 million and it will be Zomato’s second big buyout (earlier UberEats) and it will for sure establish Zomato’s dominance in the food and grocery delivery segment in India.
For now, Zomato’s spokesperson has denied these reports and said, “We have partnered with Grofers, along with FMCG companies, local grocery stores, and modern retail chains, to pilot our grocery delivery service. We are not aware of any other conversation with Grofers.”
Though, Deepinder Goyal (Zomato Co-founder and CEO), last week said, “Grocery delivery has always been on our long-term radar since it fits into our vision of better food for more people.”
Let’s see how this story develops in the future and for the time being, stay tuned with us for the latest news and updates.