Blinkit more valuable than Zomato’s food delivery business: Goldman Sachs

In a notable turn of events, Blinkit, the once-troubled quick commerce startup acquired by Zomato in a 2022 fire sale, now boasts an implied value surpassing that of Zomato’s food delivery business, according to analysts at Goldman Sachs.

In a note released on Thursday, the financial experts underscored the remarkable ascent of Blinkit from a perceived liability to Zomato’s flagship division.

Initially viewed as a daring rescue mission, Zomato’s acquisition of Blinkit (formerly Grofers) in 2022 rattled investors, causing a 20 per cent dip in Zomato’s share prices. Undeterred, Zomato persisted with its vision, and today, it seems their perseverance has paid off.