Indian food delivery company Swiggy’s stock fell below both its IPO price and its last private valuation as mounting losses and a wavering market position in quick commerce pressured its margins in the last quarter. The food delivery company’s stock fell as low as ₹374.80 ($4.29) on Thursday below its November IPO price of ₹390,…
Category: zomato
Commerce, Global IT News, Global Security News, India, Instamart, zomato
India’s Zomato to rebrand as Eternal
Indian food delivery group Zomato plans to rename itself as Eternal, a strategic shift as its quick commerce unit Blinkit becomes a significant driver of future growth. The Gurugram-based company, which joined India’s benchmark BSE Sensex in December, said on Tuesday the name change would better reflect its expanding business portfolio that includes quick commerce…
Blinkit, Commerce, Global IT News, Global Security News, India, Quick commerce, Zepto, zomato
Blinkit signals costly battle ahead in Indian quick commerce market
Zomato’s quick commerce unit Blinkit is accelerating its expansion and expects continued losses as competition intensifies in India’s instant delivery market. Blinkit now aims to reach 2,000 dark stores – small warehouses in residential areas that exclusively service online orders – by December 2025, a year ahead of its previous guidance, after exceeding 1,000 stores…