In the blink of an eye: Zomato-owned firm Blinkit's quick turnaround

Looking at the numbers revealed as part of Zomato's results, Blinkit is working out better than "just fine". It turned operationally profitable in March, and there is more

In 2022, Zomato acquired Blinkit in a $569 million all-stock deal, which was perceived to be a distress sale. Earlier, in 2021, it had acquired a 9 per cent stake in Grofers, as Blinkit was known at that time, for $100 million.Back then, Deepinder Goyal, founder and chief executive officer (CEO) of Zomato, had said quick commerce was a priority because it had growth potential.
 

On Monday, in a letter to shareholders, Deepinder Goyal reminisced: “We are just grateful that the bet we took on Blinkit worked out just fine, and we are not at a point where Akshant (Goyal,