Zomato’s proposal values the platform at about $2 billion, said the people, who requested anonymity to discuss confidential information. No final decision has been taken and Zomato may not do business with the company, the people said.
Listed food delivery company Zomato has proposed to acquire privately held Indian e-commerce delivery startup Shiprocket, according to people familiar with the matter.
A representative for Shiprocket declined to comment. New Delhi-based Zomato said in a statement that reports that it had acquired Shiprocket for $2 billion are “fake news”, adding that it has no plans for an acquisition. Shiprocket, led by co-founder and CEO Sahil Goel, raised $1.23 billion in funding in August 2022, according to PitchBook data. Investors include Bertelsmann India Investments, Temasek Holdings Pte, PayPal Ventures and Tribe Capital. Zomato supported the company in 2021.
Since its IPO in July 2021, Zomato stock has risen 68%, outpacing the Nifty 50 index, which rose 34% during the same period.
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