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From cabbage to caps: Inside Blinkit’s game plan to deliver anything

Livemint

Livemint · 1y ago

From cabbage to caps: Inside Blinkit’s game plan to deliver anything

Blinkit, formerly known as Grofers, has transformed from an online grocery company to a distribution platform for any product. It delivers a wide range of items, from groceries to electronics and beauty products. The company's strategy of offering a wider assortment of products aims to increase average order value and improve profitability. Blinkit, now a wholly owned subsidiary of Zomato, operates numerous dark stores and collection centers to facilitate quick deliveries. The company's pivot to quick commerce aligns with the growing trend of fast delivery services in India.

Related News

Why small caps will continue to sizzle

Money Control

Money Control · 1y ago

Why small caps will continue to sizzle

The BSE Midcap and BSE SmallCap indices experienced significant losses on Monday, falling 3.6% and 4.21% respectively. However, market experts believe there are enough driving factors to suggest that mid-cap and small-cap stocks will continue to outperform larger stocks in the near future. The strong systematic investment plan (SIP) flow in schemes focused on mid-caps and small-caps is seen as a major driver in sustaining this rally. Despite concerns over valuations, the consistent SIP inflows are supporting these segments. Investors are advised to maintain realistic expectations and proper asset allocation.

Stung by customer losses, Comcast says all its new plans have unlimited data

Arstechnica

Arstechnica · 2m ago

Stung by customer losses, Comcast says all its new plans have unlimited data

Comcast, facing broadband customer losses, announced new nationwide plans featuring unlimited data with no caps to attract and retain users. These plans offer four internet tiers, including the advanced Xfinity WiFi Gateway, with prices ranging from $55 to $115 monthly, depending on speed. Current capped-plan customers must switch for unlimited data. Plans include a five-year price guarantee and a year of free Xfinity Mobile. Existing customers can access price guarantees when switching.

Real sports gaming platform Game Theory bags funding from Pullela Gopichand, two other sports biggies

Economic Times

Economic Times · 1y ago

Real sports gaming platform Game Theory bags funding from Pullela Gopichand, two other sports biggies

Game Theory, a sports gaming platform, has secured funding from renowned athletes such as Pullela Gopichand, Saurav Ghosal, and Sharath Kamal. The funding will primarily be used to develop the technology infrastructure for their coaching programs. The company, based in Bengaluru, helps people find skilled players to play with and coordinate games. Badminton and swimming programs have gained the most traction, and the company plans to expand city-wise across India within the next year. Game Theory aims to deliver sports education effectively through the use of technology, providing consistent feedback to parents and driving interest in sports.

Inside Flipkart’s Gameplan of Fighting the Quick Commerce War – Outlook Business

OutlookIndia

OutlookIndia · 1m ago

Inside Flipkart’s Gameplan of Fighting the Quick Commerce War – Outlook Business

Flipkart, although a late entrant to the quick commerce sector, rapidly expanded its operations with its Flipkart Minutes service, leveraging its nationwide infrastructure. The company aims to establish 800 dark stores by the end of the year, focusing on both metro and Tier 2 and 3 cities. Flipkart’s strategy capitalizes on its robust supply chain, existing customer base, and a cost-effective shared infrastructure to deliver rapid services and diverse product offerings, including electronics and fashion.

From ESOPs to Bonus Shares: Inside Meesho’s Big Moves Before $1Bn IPO

OutlookIndia

OutlookIndia · 2m ago

From ESOPs to Bonus Shares: Inside Meesho’s Big Moves Before $1Bn IPO

E-commerce start-up Meesho plans a $1 billion IPO in 2025, with board approval for issuing ₹411.4 crore in bonus shares. The issuance aims to elevate paid-up capital from ₹8.7 crore to ₹420.1 crore. Co-founders Vidit Aatrey and Sanjeev Barnwal exercised their ESOP options under the company’s 2024 plan, valued at approximately ₹1,023 crore. Meesho also significantly cut down its losses and claimed profitability in fiscal 2024, marking a milestone ahead of its public offering.

Inside Feminine Hygiene Brand Soothe’s Reverse D2C Playbook

Inc42 · 1y ago

Delhi NCR-based women's hygiene startup Soothe Healthcare has achieved impressive success in India's competitive D2C market. While most companies focus on building an online presence, Soothe first prioritized establishing a strong offline business. Now, as they transition online, they are ahead of their peers. Soothe has gained market share in the sanitary pads market, reaching over 7%. They have also achieved profitability and plan to increase revenue and expand internationally. CEO Sahil Dharia's unique approach has proven successful in this challenging market.

Thanks to AI, the future of programming may involve YELLING IN ALL CAPS

Arstechnica

Arstechnica · 1y ago

Thanks to AI, the future of programming may involve YELLING IN ALL CAPS

OpenAI's DALL-E AI image generator integrated into ChatGPT revealed internal prompts shared between the image generator and the AI assistant, showing that programming in the future may involve human-like communication techniques. The prompts included commands in all-caps for emphasis. OpenAI relied on regular prompt engineering techniques, and being polite to the AI models seemed to yield better results. The large language model GPT-4, which powers the ChatGPT DALL-E interface, was trained on human communication examples scraped from the web, including instances of polite language. The use of all-caps for emphasis in the prompts likely garnered more attention from the AI model.

New York City Unveils AI Action Plan to Promote Responsible Use and Enhanced Government Services

Business Bytes

Business Bytes · 1y ago

New York City Unveils AI Action Plan to Promote Responsible Use and Enhanced Government Services

New York City has released its "Artificial Intelligence Action Plan" to responsibly adopt AI and enhance government services. The plan aims to prevent AI bias and leverage AI technologies for improved public administration. By embracing the potential of AI, the city aims to optimize government efficiency, deliver better services to residents, and ensure ethical and transparent use of the technology. This initiative aligns with the global trend of cities harnessing AI to manage public works and improve overall governance.

Reducing delivery time creates incremental demand for restaurant food: Zomato CEO Deepinder Goyal

Economic Times

Economic Times · 7m ago

Reducing delivery time creates incremental demand for restaurant food: Zomato CEO Deepinder Goyal

Zomato CEO Deepinder Goyal noted that reducing delivery time significantly boosts demand for restaurant food, as evidenced by Zomato's success in cutting delivery times from over 45 minutes to around 30, which spurred demand. Now, quick 10-15-minute deliveries are gaining traction with apps like Blinkit’s Bistro and Swiggy's Snacc launching. However, achieving profitable rapid delivery is challenging, requiring dense kitchen networks and reduced preparation times. Concerns are rising about potential data misuse by these delivery platforms.

Breaking down BlinkIt’s growth by its numbers in Q1 FY25

Entrackr

Entrackr · 1y ago

Breaking down BlinkIt’s growth by its numbers in Q1 FY25

Blinkit has displayed outstanding growth since getting acquired by Zomato in 2022, a deal that many considered a distressed one, for $569 million. Not only the quick commerce firm has seen growth in topline but also turned profitable. Many experts are apprehensive about the quick commerce model as they believe economics won’t work out in the ten-minute delivery. Blinkit, however, appears to have proven this notion wrong through its latest numbers. Blinkit saw an exceptional 2.4X year-on-year growth in revenue to Rs 942 crore in June 2024 from Rs 384 crore in June 2023, its financial statements filed by the Zomato Group with the NSE show. The consistent growth in scale and effective cost-cutting measures enabled Blinkit to turn around its bottom line —shifting from a loss of Rs 105 crore in Q1 FY23 to a profit of Rs 43 crore in the last quarter. Importantly, Blinkit’s profit zoomed 23X QoQ to Rs 43 crore in Q1 FY25 from Rs 2 crore Q4 FY24. The quick commerce biz along with Hyperpure spiked the Zomato group’s profit by 44.6% to Rs 253 crore in Q1 FY25 Caveat: Blinkit’s profit figures do not include other income and non-cash elements including ESOPs, depreciation and finance costs. As per Zomato, BlinkIt’s adjusted EBITDA stood at negative Rs 3 crore in the last quarter of the ongoing fiscal year (Q1 FY25). Blinkit’s gross order value (GOV) surged 2.3X to Rs 4,923 crore in Q1 FY25 from Rs 2,140 in Q1 FY FY24 while its numbers of order grew in a similar pattern to 78.8 million during the same period. The Q1 numbers drive home the point that you underestimate, or even write off Zomato at your own peril. Besides an almost Teflon-like ability to shrug off controversies, the firm has built a bit of a reputation for its unconventional approach to business, including its marketing, with the numbers to justify it. Even now, many people have rushed to say Blinkit will be the horse pulling the group wagon soon, but we wouldn’t go as far as that. Besides the almost duopoly we have in the market today nationally between Zomato and Swiggy, Zomato’s other diversifications might yet surprise too. Be it Dine Out or Live events, none have come with quite the barrage of negativism that had greeted Blinkit, and yet, we know the story only too well. Zomato’s high valuation certainly has enough behind it for now.

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