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“The acquisition plan was always hidden in plain sight”.
“It’s just about feeding public market investors something fresh.” “It’s a long-term bet on the hyperlocal economy.”
“A Hail Mary for survival.”
Last week, refrains like these could be heard from venture capital investors, analysts and hyperlocal experts as they waxed eloquent about Zomato’s plan to swallow up quick commerce player Blinkit in a heady $750-800 million deal.
Although the food delivery major is yet to publicly state its intention to acquire the erstwhile Grofers, company insiders said that a term sheet has been finalised. “Some of Blinkit’s employees have already
