Zomato is planning to invest nearly $1 billion in startups in the next couple of years with a sizeable chunk reserved for quick commerce, its CEO Deepinder Goyal wrote in a blog post. Goyal also shed light on Zomato’s investments in four companies amounting to $275 million in the past six months. Goyal’s post touched upon the company’s long-term strategy and its priorities such as the core business— food ordering and delivery, dining-out, and Hyperpure (B2B supplies for restaurants). We are currently in talks with various restaurant point-of-sale (POS) players, e-vehicle fleet operators, among others, to evaluate investments in these companies keeping the long term in mind — Goyal The post provides a glimpse of the inner workings* of Zomato and elaborates on how the company plans to use the capital at its disposal. Where is Zomato investing? Zomato has been busy in the recent months by trimming the fat from its books and picking up stakes in hyperlocal e-commerce companies such as: Curefit: The food delivery platform will be investing $100 million in fitness firm Curefit, picking up a stake of 6.4 percent. The plan is to sell Fitso, its subsidiary, for $50 million and the rest will be done in cash. With this investment, Curefit will become the 36th unicorn this year with a valuation of $1.5 billion, according to Livemint. Shiprocket: The company is also spending $75 million for an 8 percent stake in Bigfoot Retail Solutions Pvt Ltd, the company behind Shiprocket. Goyal describes Shiprocket as…
- India’s central bank launches pilot of e-Rupee for retail segment: Here’s everything to know November 29, 2022
- Event Announcement: Reworking the Data Protection Bill, Delhi, 8th Dec #Ad November 29, 2022
- Telegram Discloses Names, Numbers, IP Addresses of Alleged Copyright Infringers to Delhi HC November 29, 2022
- Nashik residents question the linking of Aadhaar with Voter ID November 29, 2022
- What can we learn about crypto scams from WazirX’s latest transparency report? November 29, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...