 "SoftBank Vision Fund-backed company is working with an adviser, a person familiar with the development said")
Grocery delivery startup Grofers has rebranded itself as Blinkit apart from pivoting the company's business model to quick commerce, Co-founder and CEO Albinder Dhindsa said in a blog post.
"Once upon a time, a few months ago, we started on a journey to build the future of commerce with 10 minute delivery of most of the stuff our customers need in their daily lives. Today, we already process over a million orders a week, across 12 cities in India. And this is just a start," he wrote.
Zomato, in July, said it has invested $100 million (around Rs 745 crore) for acquiring a minority stake of over 9 per cent in Grofers as the listed foodtech company looks to have more exposure to quick commerce segment. According to media reports, Zomato might invest a further $500 million in Grofers.
"We learnt a lot as Grofers, and all our learnings, our team, and our infrastructure is being repurposed to pivot to something with staggering product-market fit – quick commerce," said Dhindsa.
"Today, we are surging ahead as a new company, and we have a new mission statement – “instant commerce indistinguishable from magic. And we will no longer be doing this as Grofers – we will be doing it as Blinkit," he added.
"Once upon a time, a few months ago, we started on a journey to build the future of commerce with 10 minute delivery of most of the stuff our customers need in their daily lives. Today, we already process over a million orders a week, across 12 cities in India. And this is just a start," he wrote.
Zomato, in July, said it has invested $100 million (around Rs 745 crore) for acquiring a minority stake of over 9 per cent in Grofers as the listed foodtech company looks to have more exposure to quick commerce segment. According to media reports, Zomato might invest a further $500 million in Grofers.
"We learnt a lot as Grofers, and all our learnings, our team, and our infrastructure is being repurposed to pivot to something with staggering product-market fit – quick commerce," said Dhindsa.
"Today, we are surging ahead as a new company, and we have a new mission statement – “instant commerce indistinguishable from magic. And we will no longer be doing this as Grofers – we will be doing it as Blinkit," he added.
