- Blinkit rebranded from Grofers to enter the 10-minute grocery delivery space last year.
- However, unit economics did not pan out and money in the bank ran short.
- As a result, Blinkit was bought out by Zomato for $568 million in an all-stock deal with a 43% haircut.
- In FY22, Blinkit’s losses crossed Rs 1,400 Cr, while its GMV remained flat.
[Via]
