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Source: Live Mint Zomato Ltd faced double trouble in the December quarter (Q3FY25) as its two main businesses – food delivery and quick commerce (Blinkit)— drastically fell short of expectations. Of course, each business disappointed on separate counts. While the problem for food delivery was the slowdown in the growth rate of gross order value…
Source: Live Mint “It is a momentous event. We have raised a huge amount of capital in the middle of a tough market, which is a great feat,” Sumer Juneja, managing director for EMEA & India at SoftBank Investment Advisors, told Mint. Swiggy had raised $3.2 billion in private capital in total from marquee investors…
Source: Live Mint Zomato Ltd’s September quarter (Q2FY25) result was decent. A key parameter – the gross order value (GOV) – of food delivery and Blinkit grew by 21% and 122% year-on-year, respectively. Growth rates are in line with management’s guidance. The company needs an average GOV of ₹7 lakh a day per store to…
Source: Live Mint Hiren Ved, director and chief investment officer at Alchemy Capital Management, noted that investors are increasingly moving away from traditional FMCG stocks. “They are turning to aggregators and e-commerce platforms, particularly quick commerce, which sell both discretionary as well as non-discretionary consumer items as it provides a better proxy for growth as…
Source: Business Standard 4 min read Last Updated : Sep 11 2024 | 11:09 AM IST Shares of food aggregator Zomato hit a new high of Rs 281.40, as they surged 5 per cent on the BSE in Wednesday’s intra-day trade on expectations of a strong earnings growth. The company’s stock has surpassed its previous…
Source: Live Mint Abhimanyu, the sixteen-year-old son of the mighty archer Arjuna, was displaying breathtaking bravery in the Mahabharata war. He not only killed a number of prominent warriors on the enemy side, but also managed to break the flagstaff of Bhishma, the supreme commander of the Kauravas, in a hugely symbolic moment. The energy…
Source: Business Standard 1 min read Last Updated : Sep 06 2024 | 2:16 PM IST Punjab National Bank (PNB) has inked a pact with Zomato and Blinkit, offering exclusive discounts to their credit cardholders. These offers aim to elevate the dining and food delivery experience for PNB customers, providing them with significant savings…
Source: Business Standard Hari Menon, CEO and co-founder of BigBasket with this expansion offering on quick commerce category, the firm is also increasing its dark store 2 min read Last Updated : Aug 27 2024 | 11:54 PM IST Tata-owned e-grocer BigBasket has shifted its focus to quick commerce, making 10-minute delivery the default…
