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Tag: #news

  • Zomato Deactivates Its ‘Legends’ Service That Operates Between Cities

    Intercity Legends, a Zomato service that brought famous food items from 10 Indian towns to customers all throughout the nation, will be shutting operations immediately. The service was momentarily halted and then reinstated in July with some adjustments to make orders more viable, but now it has been stopped.

    According to a tweet by Zomato CEO Deepinder Goyal on social media site X (formerly Twitter), the company has chosen to immediately terminate the Zomato Legends service after two years of testing and failing to achieve product market fit.


    It Is Not the First Time That Firm Opted for Shutdown

    At a time when Zomato is branching into a variety of other competing sectors in order to increase revenue and consolidate its position in the market, Intercity Legends has been shut down. In the beginning, when Intercity Legends was first released in 2022, there was no minimum order threshold. However, in order to increase profitability, a minimum order value of INR 5,000 was implemented. Zomato determined that the initiative did not make any sense from a financial standpoint.

    This is yet another service that Zomato has terminated; in the past, the company has also terminated previous trial programmes. The logistics service known as Xtreme, which was situated in Gurugram and enabled merchants to send and receive small packages, was cancelled by the corporation since it did not produce the results that were desired.

    Zomato Legends at the Time of Launch

    At the time when the intercity service was initially introduced, the corporation had a positive outlook on the offering. It is said that a jewel can be found in every nook and cranny of India.

    “The sky is the limit to how big Intercity Legends can become,” the business had stated in a blog. “With over a hundred airports and a rich spread of the most iconic dishes that India has to offer, the number of possibilities is virtually limitless.”

    In the meantime, Zomato is devoting resources and attention to other areas of the company. The meal delivery giant Zomato announced on August 21 that it will purchase Paytm’s entertainment and ticketing business for a total of INR 2,048 crore in an all-cash transaction. This comes as the food delivery giant hopes to grow its footprint in the ‘going-out’ market, while the troubled fintech major seeks to concentrate on its core financial services offerings with the acquisition.

    Zomato on the Financial Front

    In terms of revenue, Zomato has grown substantially. In the first quarter of the fiscal year 2024-25 (Q1FY25), the company’s consolidated profit increased significantly from the previous quarter’s INR 175 crore to INR 253 crore. Zomato achieved its first ever profit in the same period last year (Q1FY24), albeit a small one of INR 2 crore.

    Zomato’s operational revenue also increased significantly, increasing from INR 2,416 crore in Q1FY24 to INR 4,206 crore in Q1FY25, a 74% year-on-year rise. The prior quarter’s reported revenue for the company was INR 3,562 crore. Although revenue increased to INR 3,636 crore in Q1FY24 and INR 2,612 crore in Q1FY24, overall expenditures increased to INR 4,203 crore in Q1FY25.

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  • Tata Capital and Lendingkart Formed a Partnership to Co-lend Unsecured Business Loans

    Lendingkart, a retail lending platform based in Gurugram, has teamed up with Tata Capital Limited, the financial services arm of the Tata Group, to provide unsecured business loans to MSMEs all over the nation.

    The goal of the agreement is to make it easier for micro, small, and medium-sized enterprises (MSMEs) to get the financing they need by utilising Lendingkart’s digital platform.

    Loans for businesses, working capital, micro, small, and medium enterprises (MSME), women-owned businesses, and individuals are all available through Lendingkart, which was established in 2014 by Harshvardhan Lunia and Mukul Sachan.

    Function of Lendingkart’s Software as a Service Solution

    A significant component of this partnership will be the Software as a Service (SaaS) platform known as “2gthr,” which is offered by Lendingkart. It is possible to handle the complete customer process with the assistance of the platform, which includes beginning the process of loan applications, promptly approving them, disbursing funds, and managing collections.

    Using this platform, Lendingkart intends to improve access to credit for micro, small, and medium-sized enterprises (MSMEs), making it possible for even underserved firms to take advantage of the loans that are made available through this cooperation.

    Meeting the Urgent Funding Requirements of Msmes

    The cooperation intends to address the crucial financial needs of micro, small, and medium-sized enterprises (MSMEs), a sector that frequently fails to gain access to credit.

    Harshvardhan Lunia, the founder and chief executive officer of Lendingkart, emphasised the significance of the relationship by adding, “Our objective is to increase credit penetration and make financing more accessible and easier for micro, small, and medium-sized enterprises. Through the formation of this cooperation, we will be able to solve the important finance requirements of enterprises that are not being adequately served and achieve higher operational benefits.”

    Through this cooperation, it is anticipated that Lendingkart’s technology skills will be combined with Tata Capital’s wide network in order to increase the number of firms that can be reached.

    Tata’s Emphasis on the Empowerment of MSMEs

    Vivek Chopra, Chief Operating Officer of Retail Finance at Tata Capital Limited, stated that the relationship between Tata Capital and Lendingkart exemplifies the company’s commitment to the expansion of collaborative arrangements. Small and medium-sized enterprises (MSMEs) will be able to capitalise on emerging possibilities and promote thorough company expansion thanks to this strategic plan.

    The network of Tata Capital, which has over 750 branches across India, is anticipated to play a significant role in making these loans available to micro, small, and medium-sized enterprises (MSMEs) nation-wide.

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  • Zerodha Adds Privacy Mode on Kite to Help Prevent Overtrading and Protect Data

    Zerodha, the most prominent broker in India, has recently implemented a new privacy mode option on its website. This feature allows customers to protect sensitive information such as details, profit and loss (P&L), and other sensitive elements.

    As a result of the fact that constantly seeing real-time changes in the profit and loss statement can frequently be distracting and may be enticing to overtrade, Zerodha claims that the feature will assist investors in avoiding overtrading.

    To help people against heavy losses

    “At Zerodha, our primary objective has always been to assist individuals in improving their financial situation”. In a blog post, the broker stated that this can take the shape of warnings and nudges that assist customers in increasing their chances of winning when trading, as well as the development of features that can assist in preventing excessive trading.

    The urge to engage in an excessive number of trades, particularly when things are not going as planned, might result in an endless cycle of trading losses. It developed Kill Switch, which enables users to instantly shut one or more segments on Kite, so compelling investors to take a break. This was done with the intention of assisting users in avoiding the risks associated with overtrading.

    Traders are able to get a comprehensive view of their charges throughout the day, which enables them to make more informed trading decisions and encourages them to be more mindful of their trading activity. Zerodha introduced the virtual contract note on Kite as the next step, which displays charges for all of the orders that were placed during the day period.

    Major benefits of the feature

    It is now possible for users of Kite to effortlessly conceal all of these figures thanks to the privacy mode, which enables them to concentrate on a trading strategy without becoming distracted by the day-to-day swings of their accounts.

    It is also helpful for users to have this functionality in circumstances where they are presenting their device to friends or family members and want to conceal important financial information.

    Already accessible on the Kite online, the privacy mode will soon be made available on the Kite mobile app as well. In order to engage this feature, investors can activate it by clicking on the user ID on Kite and selecting the toggle button for the privacy mode.

    In the past, Zerodha has introduced to its trading platform, Kite, features that are similar to those that are helpful to investors. The first of them was the Kill Switch, which gave users the ability to instantly disable one or more trading segments on Kite. This was done to encourage users to take a break from trading and to prevent them from making rash choices. Based on this, Zerodha produced the Virtual Contract Note, which gave traders a comprehensive view of the charges for all orders submitted throughout the day along with a detailed breakdown of expenses. This was created to provide traders with a comprehensive picture of the charges.

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  • Caribbean Tigers Beat Jaguars, Clinching Yet Another Victory in Max60 Powered by Badshahcric

    Cayman Islands: The inaugural season of the Max60 Caribbean League 2024 powered by Badshahcric witnesses twists and turns with every game. The league kicked off on a thrilling note on the 18th of August and has been on an upward trajectory since then. The 12th match witnessed a classic showdown between the Badshahcric-sponsored Caribbean Tigers and the Grand Cayman Jaguars. The Tigers emerged victorious in the matchup by 48 runs and a total of 150 runs. 

    Tigers Establishes Dominance with Bat and Ball

    The Caribbean Tigers tactfully opted to bat first after winning the toss and played fiercely sporting their jersey sponsored by Badshahcric. The decision to bat first was proven wise after their masterclass in the picturesque Cayman Islands. The openers determined the course of the game by setting a strong foundation for the rest of the batting lineup to follow. 

    The previous game’s top batters such as George Munsey and Josh Brown proved their batting prowess and consistency again with hard knocks scoring 52 and 50 runs respectively. They took the chance and wasted no time and balls in the game to set up a competitive total for the Tigers. Nick Hobson, who came in one down, supported the batters in maintaining the run rate by scoring 20 runs from a mere 8 balls. However, Icon players such as Chris Lynn faded out and could only manage to squeeze out 3 runs. 

    On the other hand, the Grand Cayman Jaguars couldn’t catch up to the Tigers and couldn’t prevail by beating their total. The likes of Sikandar Raza and Saif Zaib tried their best to spiking the scores up but the Tigers’ bowling side did their part exceptionally. Suranga Lakmal nicked off 3 wickets ending the Jaguars’ reign followed by Michael Leask and Andrew Tye with 2 and 1 wickets respectively. 

    Badshahcric Fuels Up the Max60 Thrill

    The atmosphere of the Caribbean T10 League, Max60 is electrified with the onboarding of the online betting giant, Badshahcric. The fast-paced, thrilling, and high-octane cricket leagues have all the opportunity to be etched into the minds of global cricket fans. The inaugural season of the Max60 has kickstarted with flying colors and excitement. 

    Badshahcric establishes its presence in the league by backing two of the best franchises of the league, Boca Raton Trailblazers and Caribbean Tigers. Being the jersey sponsor of the aforementioned teams, Badshahcric has extended its commitments toward online gaming and cricket beyond global standards. Fostering new and upcoming talents across the world and guiding them to the global arena has been the vision engraved in the Badshahcric journey throughout. Max60 has provided a platform to make the vision come true for Badshahcric as the league is propelling forward with full power. 

  • For CCI Approval, Reliance, Disney May Freeze Ad Rates for Two Years

    In their most recent attempt to secure the approval of the competition watchdog for the merger of Star India and Viacom18, Reliance Industries Ltd (RIL) and Walt Disney are reportedly considering proposing a two-year freeze on advertising rate cards to the Competition Commission of India (CCI).

    With an eye towards closing by October, RIL and Disney have been looking for methods to allay the regulator’s fears regarding the merger’s possible effects on India’s media and entertainment (M&E) sector.

    The Step Will Bring Marginal Loss to the Merger

    Ad revenue loss from the ad rate freeze is unlikely to be significant, and media agency officials find RIL and Disney’s plan intriguing because it could aid the Star-Viacom18 merger in obtaining CCI clearance.

    The Indian Premier League (IPL) and other properties have taken a major hit from the recent advertising slump, but some executives are arguing that the combined business will suffer little harm from the planned rate freeze.

    Due to the departure of modern sponsors and reluctance among established brands to make costly bets on cricket, Star Sports and JioCinema have scarcely filled their ad inventory, so they would be content to maintain the current ad pricing.

    Given that the merged entity’s market share would easily surpass the 40% mark in several markets, RIL and Disney are proposing a number of measures, including a tariff freeze and the closure of certain weaker channels in Hindi and regional markets.

    CCI Keeping a Close Eye on the Developments

    In its investigation into the proposed INR 70,000 crore merger between Viacom18 and Star India, the CCI is raising concerns about possible antitrust violations and challenging the companies’ monopolies in the television and online video markets.

    It is looking into whether the planned merger will give Star-Viacom18 an unbeatable competitive advantage by consolidating important cricket rights.

    In India, cricket crosses demographics like age, income, and language to become the most watched show overall. Its premium ad prices are unmatched by any other genre.

    According to an expert in the field, the merging company’s negotiating power with advertising would be its greatest strength because of its market domination.

    Claiming that the Star-Viacom18 merger would not substantially affect competition in the M&E market, RIL and Disney applied for clearance from the CCI in May.

    The Merger’s Deal

    To establish a media conglomerate with more than one hundred television channels and two streaming platforms, Disney+ Hotstar and JioCinema, RIL and Disney signed arrangements in February to merge Star and Viacom18. This will result in the creation of a media superpower. JioCinema seems to be the only streaming platform that the merged firm is likely to keep.

    At the end of the joint venture, Bodhi Tree Systems, an organisation that is sponsored by Uday Shankar and James Murdoch, will keep the remaining interest. RIL will manage the joint venture with a 56% stake, followed by Disney with a 37% stake. On an annual basis, the combined entity would generate approximately INR 25,000 crore in revenue.

    Shankar will have the position of vice chairperson, while Nita Ambani would serve as chairman of the combined firm.

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  • PhonePe’s New Credit Line on UPI Feature

    A new feature called “Credit Line on UPI” has been introduced on PhonePe’s platform. This feature gives customers the ability to link their pre-approved credit lines to UPI, which enables them to make payments without any hassle. Users now have the ability to control their monthly costs using short-term financing while simultaneously making purchases from millions of different retailers thanks to this unique alternative.

    The Reserve Bank of India (RBI) made the decision to broaden the scope of the Unified Payments Interface (UPI) to include pre-approved credit limits, which will result in an increase in the usefulness of UPI applications. Because users may now link their credit lines to UPI on PhonePe, they are able to make payments in a manner that is both more flexible and more efficient.

    Win-Win Situation for Both Consumers and Merchants

    Additionally, retailers who are using the PhonePe Payment Gateway (PG) are able to provide their clients with an additional payment option throughout the checkout process. This option is available to both consumers and merchants.

    Both friction and cart abandonment are reduced as a result of this, which ultimately leads to an increase in sales. Simply integrating with PhonePe PG is all that is required for merchants to add ‘Credit Line on UPI’ as a payment option in order to make this offering available.

    How does UPI’s Credit Line Work?

    The ‘pre-sanctioned credit line at banks through UPI’ is an innovative financial solution that is aimed to alter the landscape of lending, as stated on the website of the National Payments Corporation of India (NPCI). With the use of this product, people and businesses are able to have access to pre-approved credit lines from financial institutions. Through the facilitation of the supply of low-ticket, high-volume retail loans, it promotes economic growth and enhances financial inclusion.

    By utilising cutting-edge technology such as data analytics and artificial intelligence, financial institutions are able to recognise prospects for credit lines for clients and merchants who are engaged in major UPI-based digital payments.

    According to the website of the National Payments Corporation of India (NPCI), “Since the customer is going to use UPI, which involves the customer being always connected and available in real time, the banks are able to begin with low-ticket credit lines and work their way up based on consumer behaviour and repayment patterns from there.”

    How Can One Use UPI to Access His Credit Line?

    Through the use of the same UPI wires that millions of Indians are already familiar with, the credit line on UPI operates. To access it, users can do the following:

    1. Users are able to link their Credit Line on UPI by selecting the bank from whom they obtained the Credit Line and clicking on the profile area located in the upper left corner of the home page of the PhonePe app.

    2. When the user clicks on the bank, the Credit Line that is related with their enrolled telephone number will be connected on UPI.

    3. Once the user has successfully linked it, they will be needed to set a UPI PIN.

    Following the completion of this step, the Credit Line option will be displayed as a payment instrument on the payment page while the user is in the process of making a payment.

    Recently, Karnataka Bank and Navi Technologies, a business that provides financial services, made an announcement on the launch of a credit line on UPI. Karnataka Bank will be one of the early users of this next-generation credit product as a result of the private sector lender’s strategic agreement with Navi, which will allow them to extend credit lines to customers.

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  • Physics Wallah Launches PW School of Startups with INR 100 Crore Investment Fund to Empower Aspiring Entrepreneurs

    Launching the PW School of Startups (SOS) under the PW Foundation, the edtech platform Physics Wallah (PW) has taken a giant leap forward in its goal to make education accessible to all students in India.

    By focussing on the development of entrepreneurial skills, PW SOS aims to close the gap between more conventional forms of education and the ever-changing startup ecosystem. In order to help budding entrepreneurs turn their ideas into profitable businesses, the initiative offers a wide range of resources, including affordable programmes, hands-on training, strategic mentoring, and access to funding.

    The introduction of PW SOS coincides with a period of great success for India’s startup scene. India ranked seventh out of 49 nations in the Global Entrepreneurship Monitor India Report 2022/23, with 75.5% of Indians perceiving good local business chances. In addition, the country’s third-largest startup ecosystem is in India, where over 78% of the youth feel it quite straightforward to start a firm. Half of the 10 lakh employment created by Indian startups by 2023 were from areas outside of Tier 2 cities, which meant they were responding to issues on a local level in areas like healthcare, education, and agriculture.

    Preparing Participants for Entrepreneurial Challenges

    In order to meet the obstacles of entrepreneurship, PW SOS provides its members with practical skills, real-world experience, and a community of support, according to the official announcement. The institution’s mission is to support the startup community in its pursuit of innovation, creativity, and long-term success. Those that take part are able to tap into a wealth of possibilities and resources that are essential to the success of entrepreneurs.

    Prateek Maheshwari, Co-Founder of Physics Wallah, highlighted, “Our goal with PW SOS is to connect budding entrepreneurs with mentors who have built successful businesses and scaled them. On top of that, we have set aside $11.9 million (INR 100 Cr) to back 100 companies for the next 60 months.”

    Programmes Offered

    Aarambh, Prarambh, and Hopes Alive are the three separate programmes that PW SOS provides, and they are all designed to help entrepreneurs at different points in their journeys. Aarambh is an offline programme that runs for five days and aims to help students, young professionals, and college students accelerate their growth by providing them with tools, networks, and advice from experts. The five-month Prarambh programme focusses on budgeting and business model development; it is aimed for college students, early professionals, small family company owners, and social impact enthusiasts. As a 5-month hybrid programme, Hopes Alive provides seed-funded and bootstrapped businesses with access to capital, mentorship, and networking opportunities.

    It is PW SOS’s intention to register one hundred in Prarambh and one thousand in Aarambh within the next twelve months.

    “Companies in Tier 2 and Tier 3 cities have great business ideas, but they don’t have someone to help them out or a community to lean on,” according to Alakh Pandey, CEO and Founder of Physics Wallah.

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  • Launching of UPI app from Flipkart backed Super.money

    The super.money app, which is a credit-first UPI (Unified Payments Interface) payments gateway app developed by India’s eCommerce giant Flipkart, intends to rapidly transition into a secured lending role in the next months.

    According to a press release issued by the fintech, the app had about one million downloads during the test phase, which resulted in more than ten million transactions. National Payments Corporation of India reports that monthly credit transactions on UPI exceed INR 10,000 crore.

    As a First Offering, Super.money Offers a Rupay Credit Card

    The RuPay credit card, which functions similarly to an interest-bearing wallet on the UPI platform, is the initial offering from super.money. Already, Super.money has released an additional product—unsecured personal loans—in partnership with leading banks in India.

    “The retail credit industry is booming and offers a lot of potential,” according to Prakash Sikaria, founder and CEO of Super.money, who spoke with a prominent media outlet. “Secured credit products have not been developed further and have not experienced the proper level of adoption,” he opined.

    According to Sikaria, the Tier II and III markets in India are where the credit on UPI opportunity lies. From the standpoint of the user, it presents a three- to fourfold potential compared to conventional credit cards. Specifically, he emphasised how the beta phase shaped the super.money experience and how they innovated at the forefront of UPI credit in a press statement.

    However, Super.money will have to distinguish itself through its products rather than relying just on UPI-backed transaction volumes if it wants to stand out in the still-growing but highly competitive lending industry, which is dominated by banks and NBFCs.

    Secured Vs Unsecured Loans

    The fast growth of unsecured loans in India’s retail loans segment over the past two years has been brought to the attention of the Reserve Bank of India in both informal meetings with banks and the formal publishing of the Financial Stability Report, which is done half yearly.

    The risks associated with certain categories of unsecured loans were given a higher weightage by the regulatory body in November of 2023. The intended outcome has already been achieved. Following the RBI’s action, the growth rate of credit card portfolios dropped from 30% to 23%. In a same vein, bank lending to NBFCs fell to 18% from 29% previously. 

    Secured loans (vehicle, home, loan against property) are safer bets than unsecured loans (personal loans, credit card loans, and other types of consumer durables and student education loans), which do not require collateral. Lending system vulnerabilities increase when combined with a regime of still-high interest rates.  

    Many fintech companies in India compete for customers in the secured lending market by offering digital loans collateralised by precious metals and fixed deposits. Banking institutions and non-bank financial companies (NBFCs) have a greater branch network and street fleet, allowing them to dominate other products like home and vehicle loans. 

    Sikaria has faith in the possibilities of the cosmos he intends to serve. According to his polls, a mere fifteen to twenty percent of individuals who apply for a credit card actually receive one. Financial product cross-selling is super.money’s goal in the unsecured lending market. 

    The plan is to attract and keep users with greater average revenue per user (ARPU) by offering them greater incentives. The goal for Super.money, similar to other fintechs, is to increase the percentage of users who purchase additional financial products through cross-selling.

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  • PayU Collaborates With Amazon Pay Later to Provide Immediate Digital Credit

    A strategic alliance between PayU, a provider of digital financial services, and Amazon Pay Later will increase the availability of digital credit to millions of customers in India. The integration of Amazon Pay Later, a popular buy-now-pay-later (BNPL) service, into PayU’s checkout infrastructure will allow online retailers to give customers fast and flexible credit lines.

    Among India’s 220 million people who could be eligible for credit, only about 77 million (or 35% of the total) are actually making use of various forms of credit, according to data compiled by TransUnion CIBIL.

    The goal of this collaboration between PayU and Amazon Pay Later is to help more people get the fast, genuine credit they need to shop online.

    “In our opinion, this cutting-edge approach has the potential to greatly improve merchants’ bottom lines and revolutionise the way fast credit is used by Indian consumers” stated Nikhil Mehta, PayU’s Senior Vice President of Payments Strategy and Partnerships.

    PayU to Introduce Amazon Pay Later on Its Offers Engine Platform

    Amazon Pay Later will be introduced on PayU’s Offers Engine Platform, in addition to the integration that will take place during the checkout process. This platform gives merchants the ability to make personalised offers throughout the checkout process, which further improves the consumer experience and strengthens customer loyalty.

    As a result of the incorporation of Amazon Pay Later, customers will have the opportunity to obtain quick credit, which is anticipated to result in an increase in the average ticket size for businesses.

    The Director of Amazon Finance, Vikas Bansal, also mentioned that this relationship is a step towards improving customers’ access to credit and simplifying their financial transactions. This is something that is being done for customers all around India.

    About PayU

    Prosus is an investor in PayU, a prominent digital financial services provider in India. PayU’s companies are governed by the Reserve Bank of India, and the company provides cutting-edge solutions to fulfil the digital payment needs of the Indian market. The organisations that make up PayU India are working towards a same goal: to build a digital financial services platform that can meet all of their customers’ financial demands, both those that have been met and those that have yet to be.

    Through its innovative and award-winning technology, PayU has enabled 5 lakhs+ businesses, including some of India’s most prominent organisations, eCommerce giants, and SMBs, to accept payments online. With it, companies may accept digital payments through more than 150 different online payment options, including EMIs, pay-later, QR codes, UPI, wallets, and more. It provides easy-to-implement connections across card-based EMIs, pay-later alternatives, and new-age cardless EMIs, as well as comprehensive issuer coverage, making it a favoured partner in the affordability ecosystem. PayU guarantees a smooth checkout process and offers eCommerce firms the best success rates in the market.

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  • For $244 Million, Zomato Purchased Out Paytm’s Entertainment Ticketing Division

    Zomato, a platform for foodtech and rapid commerce, is going to buy out Paytm’s movie and ticketing division. The deal has been in the works between the two businesses for three months now. Following Blinkit in June 2022, this is the first significant acquisition for the Gurugram-based startup.

    An announcement was made to the Bombay Stock Exchange (BSE) stating that Zomato has agreed to purchase Paytm’s entertainment ticketing business for INR 2,048 crore (about $244 million) in cash.

    Details of the Deal

    Zomato will receive full ownership of Orbgen Technologies (TicketNew) and Wasteland Entertainment (Insider), two subsidiaries of Paytm’s parent company One97 Communications, according to the terms of the agreement.

    Along with the two subsidiaries, 280 current employees from TicketNew and Insider will also be a part of the agreement. Paytm, which is headed by Vijay Shekhar Sharma, purchased Insider in May 2017 and TicketNew in 2018 for a total of $40 million.

    In FY24, the company reportedly made INR 297 crore in sales and INR 29 crore in adjusted EBITDA.

    During the transition time of up to 12 months, the entertainment ticketing business—which includes movie, sports, and live event ticketing—will continue to function on the Paytm app. Assuming all agreements are met, the transaction is anticipated to finalise this quarter.

    Why Zomato So Keen About This Acquisition?

    As per market experts, the last quarterly results showed a fall in gross order value, which is bad news for stock market investors because it indicates that the Zomato’s primary food sector is slowing down, even though the reduction was small. Although some may see the decline as a temporary setback, others worry that the meal delivery sector is reaching its peak as it expands into more and more locations.

    Therefore, many analysts and broking companies expect Blinkit, Zomato’s quick-commerce branch, to surpass Zomato’s primary meal delivery operation, and industry observers’ attention has recently shifted to Blinkit.

    They should be able to satisfy investors’ appetite for growth with Zomato’s main food company making profits and Blinkit offering growth, right? Yeah, but that’s only for today.

    It is unclear if Blinkit will be able to sustain Zomato’s growth in the future, even though it is currently driving it. This is because it is unclear if quick-commerce will gain traction in tier-2 and tier-3 cities after they have penetrating metro cities to their full potential.

    So, for Zomato to continue its growth trajectory in the future, it needs a fourth engine, in addition to its online food ordering, Hyperpure by Zomato, and Blinkit industries. One possible candidate for the fourth engine is Zomato’s “Going-out” vertical, which includes eating and live events. This makes this deal a perfect combination for Zomato, considering its future growth.

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