Online food delivery giant Zomato has made significant investments in its quick commerce arm, Blinkit, and its events arm, Zomato Entertainment. The company has invested Rs 300 crore in Blinkit and Rs 100 crore in Zomato Entertainment, bringing its total investment in Blinkit to Rs 2,300 crore since its acquisition in August 2022.
Blinkit, formerly known as Grofers, is a quick commerce platform that delivers groceries and other essentials within minutes. The investment will help Blinkit expand its operations and compete with other players in the rapidly growing quick commerce market.
Zomato Entertainment, on the other hand, specializes in curating and selling tickets for concerts, parties, and festivals. The investment will help the company expand its portfolio and offer more entertainment options to its users.
The investments in Blinkit and Zomato Entertainment reflect Zomato’s commitment to diversifying its business and expanding beyond its core food delivery operations. The company believes that the quick commerce and entertainment sectors have significant growth potential and are complementary to its existing business.
Meanwhile, Zomato has reported that Blinkit turned adjusted EBITDA positive in March. This is a significant milestone for the company, which has been investing heavily in Blinkit since its acquisition. The improvement in Blinkit’s financials is expected to boost Zomato’s overall performance in the coming quarters.
