Zomato in talks to buy Grofers
Food discovery platform, Zomato is in talks with e-commerce platform, Grofers for a merger deal according media reports. Latest estimates put Grofers at a valuation of $750 million. Soft Bank’s Vision Fund, which is the largest investor in Grofers, is expected to invest an additional $100-200 million in the merged entity.
Zomato launched its own grocery delivery option post COVID-19 to fulfil customer orders by picking up the groceries from offline stores. If the merger goes through, it will be the biggest buyout by restaurant discovery platform after it announced the buyout of Uber Eats earlier this year for $ 350 million.