Zomato acquires Blinkit for ₹4,447 crore in an all-stock deal

Homegrown food delivery startup Zomato's board on Friday approved the acquisition of quick commerce company Blinkit, formerly known as Grofers, for ₹4,447 crore in an all-stock deal. Prior to the acquisition, Zomato held a more than 9% stake in the startup. Notably, Blinkit became a unicorn after Zomato invested $100 million last year at a valuation of over $1 billion.