Friday, 24 March, 2023

Zomato and Blinkit reach agreement for merger

<p>Zomato, a food delivery business, and Blinkit, an instant delivery service, have agreed to merge. Blinkit is valued at $700-$750 million in the all-stock deal, according to sources. Blinkit has been failing to raise funds from new or most of its current investors for several quarters, and the merger, or technically, an acquisition, comes at a time when the company has been struggling to acquire funds from new or most of its existing investors.</p>