Zomato's quick commerce business now more valuable than its food delivery, says Goldman Sachs
by TechCrunch
TechCrunch— Goldman Sachs said in a report late Thursday that Indian food delivery giant Zomato’s quick commerce arm Blinkit is now more valuable than its core food delivery business, as per the bank’s sum-of-the-parts analysis. The investment bank estimates Blinkit’s implied value at 119 Indian rupees per share ($1.43) or about $13 billion, while Zomato’s food […] © 2024 TechCrunch. All rights reserved. For personal use only.
ETtech.com—Blinkit contributes more to Zomato’s market cap than its food delivery biz: Goldman Sachs. Quick-commerce platform Blinkit’s contribution to parent Zomato’s market value has surpassed that of the mainstay food-delivery business, according to a Goldman Sachs report.The report estimates Blinkit’s implied value at Rs 119 per share, compared with Rs 98 a share for Zomato’s food delivery business. This translates to a contribution of $13 billion by Blinkit to Zomato's value, up from $2 billion in March 2023, as per Goldman Sachs. As of Friday, Zomato had a market capitalisation of nearly...
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