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'Nervously excited': Zomato CEO Deepinder Goyal on Blinkit's future, says no slowdown in quick commerce
Zomato founder and CEO Deepinder Goyal on Thursday said he is ‘very happy’ with the acquisition of instant grocery delivery platform Blinkit (formerly known as Grofers) and that the quick commerce vertical has not seen any slowdown in business. Adjusted Ebitda loss in quick commerce fell to Rs 259 crore from Rs 326 crore in the June quarter, leading to adjusted Ebitda (as a percentage of GOV) of minus 17.5 per cent in the September quarter compared with minus 27.8 per cent in June quarter. Our hypothesis seems to be playing out on both strong customer adoption as well as the core economic model. Third-party sellers, who sell their products on Blinkit’s marketplace, own the inventory of these products and stock this inventory in a network of warehouses and dark stores operated by Blinkit. There were a number of people who didn’t like the transition, and decided to leave, but we are past all the pain, and now have a stable team at Blinkit which is executing very well to produce outcomes that would surprise the best of us,” his letter read. Source: BusinessToday #Zomato #CEO #DeepinderGoyal #Blinkit
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