No, Zomato is not making $2 billion acquisition, here’s what CEO Deepinder Goyal has to say – Times of India

No, Zomato is not making $2 billion acquisition, here's what CEO Deepinder Goyal has to say - Times of India

Zomato has denied reports that it is buying privately held e-commerce shipping startup Shiprocket. Earlier in the day, Bloomberg reported that listed platform Zomato had offered to acquire Shiprocket, citing people in the know. The report claimed that Zomato’s proposed acquisition Ship’s equipment It is worth about 2 billion dollars.
In a post on X, formerly CEO of Twitter, Zomato Deepinder Goyal Denied the report “Clarification on Shiprocket Acquisition News Articles – We have seen some news circulating in the mainstream media with the headline “Zomato Offers to Acquire Shiprocket for $2 Billion”. We deny this statement and want to warn investors against such false news circulating in the market. Please note that the company does not comment on media speculation but is clarifying this information with great care, given the large size of the deal mentioned in the news article and the uncertainty it creates in the market. Looking at,” Goyal posted from his official X account.
Incidentally, in 2021, Zomato participated in Shiprocket during its $185-million Series E funding round, which also saw participation from Singaporean sovereign wealth fund Temasek and Lightrock India. Goyal had previously invested in Shiprocket in his personal capacity, but later exited the company.
About Shiprocket
Shiprocket aggregates demand from direct-to-consumer (D2C) brands, micro-entrepreneurs and local brands and sends them to logistics players such as Delhiveri, E-Com Express and others. In addition to shipping services, Shiprocket also offers its own technology stack for retailers to integrate their shopping websites on platforms like Shopify.
For the fiscal year ended March 31, Shiprocket reported a 78% year-on-year increase in its operating income to Rs 1,089 crore. The firm’s net loss more than tripled to Rs 341 crore as it absorbed losses from acquisitions made during the year.

Acquisition of Zomato,Zomato,shiprocket zomato,Ship’s equipment,Deepinder Goyal

Be the first to comment

Leave a Reply

Your email address will not be published.