Yesterday on 14 April, zomato has acquire grocery delivery company for $750 million. Zomato71, a big food tech company of India was in talk with another big grocery delivering platform based in India named Grofers.
The deal is finally closed on 14 April,2020 and the acquisition is made for $750 million. Here are some facts about it:
1) Grofer was founded back in 2013, the company was operating in 28 cities across India.
2) After this acquisition now zomato will be delivering in more than 80 cities across India and according to the news the company has already started delivering products.
3) In this coronavirus67 pandemic, this will prove to be one of the best opportunity to grow.
4) Online food and grocery retail is expected to be increased and touch $10.5 billion by 2023.