Goldman Sachs has significantly raised the valuation of Zomato's quick commerce unit, Blinkit, to $13 billion, surpassing the value of Zomato's core food delivery business for the first time. This revaluation positions Blinkit's implied value at ₹119 per share, compared to ₹98 per share for the food delivery segment. Zomato acquired Blinkit for less than $600 million in 2022. Additionally, Goldman Sachs has also increased Zomato's share price target, which now promises a 200% return, with the share price currently under Rs 200.
🆕🛒 #Blinkit contributes more to Zomato’s market cap than its food delivery biz: Goldman Sachs The report estimates Blinkit’s implied value at Rs 119 per share, compared with Rs 98 a share for Zomato’s food-delivery business. https://t.co/zUIBnpovuO
#GoldmanSachs now values #Blinkit at ₹119 per share at a $13 billion equity valuation. https://t.co/50PnEsa3MB
Blinkit is now larger than Zomato's core business: Goldman Sachs https://t.co/bNsddoNeEx via @moneycontrolcom
Share Price Under Rs 200, 200% RETURN: Zomato share price target hiked by Goldman Sachs https://t.co/rs2QEHTdmN
Zomato’s quick commerce unit Blinkit eclipses core food business in value, says Goldman Sachs: https://t.co/JjtCM5GhSW by TechCrunch #infosec #cybersecurity #technology #news
Zomato’s quick commerce unit Blinkit eclipses core food business in value, says Goldman Sachs https://t.co/Uxqt6izDu7
Goldman Sachs estimates Blinkit's valuation within Zomato's sum-of-the-parts analysis to $13 billion, exceeding food delivery value for the first time! Zomato bought Blinkit for less than $600 million in 2022. https://t.co/bZVJMitVxK