Blinkit is now more valuable than Zomato's food delivery business

Goldman Sachs reports that Blinkit, an Indian quick commerce firm owned by Zomato, has exceeded its core food delivery business value, with an implied valuation of $13 billion. The Indian quick commerce market is expected to grow at a compound annual rate of 53% during FY2024-27, driven by factors like a large unorganised grocery sector and high population density.