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News on Medial
Quick commerce’s burning brighter as players add more fuel
Economic Times
·
9m ago
Medial
Zomato's decision to raise fresh funds through a qualified institutional placement (QIP) has sparked concerns in the quick commerce sector. Some believe it's an attempt to divert attention from rival Swiggy's upcoming IPO, while others worry about the potential increase in cash burn and negative impact on unit economics. The quick commerce market is becoming increasingly competitive, with players like Zomato's Blinkit, Swiggy's Instamart, and Zepto diversifying into new categories. Zomato aims to raise $400-500 million through the QIP, potentially affecting Swiggy's IPO pricing. However, Zomato's strong track record and profitability may attract more interest in its fundraise.
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A quick-commerce correction on the radar for consumer brands
Livemint
·
6m ago
Medial
Consumer brands that initially benefited from quick commerce are reassessing their dependence on these platforms due to high commissions and intense competition. Brands like Wellbeing Nutrition and Arata are diversifying distribution through their own websites and offline stores for better control and higher margins. Despite the quick-commerce boom with platforms like Zepto and Blinkit witnessing significant growth, brands recognize the need for a balanced channel strategy as quick commerce’s limits become evident.
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Race to deliver fast intensifies: quick commerce firms burning Rs 1,500 crore a month
Economic Times
·
5m ago
Medial
Indian quick commerce firms are burning Rs 1,300-1,500 crore monthly, driven by aggressive competition. Major players like Zomato's Blinkit, Zepto, and Swiggy Instamart have raised substantial funds amid escalating expenses. This intense rivalry affects stock performance, with Zomato and Swiggy experiencing significant market value declines. Companies like Zepto aim to reduce cash burn ahead of planned IPOs. Increased investor scrutiny and growing competition from platforms like Amazon and Flipkart impact the sector's profitability outlook.
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Companies News Today Live Updates on December 19, 2024: Chalet’s next 1,000: acquisitions, new builds to fuel hotel chain’s aggressive expansion
Livemint
·
6m ago
Medial
Chalet, a hotel chain, plans to fuel its aggressive expansion through a combination of acquisitions and new builds. This strategy aims to add 1,000 more properties to the company's portfolio. Stay tuned for the latest updates on Chalet's financial performance, strategic acquisitions, and market shifts, as well as insights on mergers, acquisitions, financial results, and leadership changes shaping the business landscape.
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India's quick commerce has room for 7-8 players: Blinkit CEO
Inshorts
·
5m ago
Medial
Albinder Dhindsa, the CEO of Zomato-owned Blinkit, said India's quick commerce space has room for seven to eight players in the short term. More specialised and sector-focused players will likely emerge over time, he told CNBC-TV18 at WEF 2025. He further stated that Blinkit won't engage in price wars as they are unsustainable.
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India's smartwatch market in flux as unknown brands challenge heavyweights
TechCrunch
·
1y ago
Medial
India's smartwatch market is experiencing a sudden shift as unknown brands challenge established players like Apple and Samsung. These unfamiliar brands, such as Fire-Boltt, Noise, and boAt, have gained customer attention by offering affordable alternatives to the more expensive models. While their products often lack warranties and have less accurate fitness tracking metrics, the similar aesthetics to popular brands and affordability have allowed these unknown brands to gain market share. As a result, the average selling price of smartwatches in India has dropped significantly. Established players will need to adapt their strategies and add more value to retain their market position.
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Quick commerce sector burning Rs 5,000 crore per quarter: Zomato CEO Deepinder Goyal
Economic Times
·
4m ago
Medial
The quick commerce sector in India burns approximately Rs 5,000 crore quarterly, with Blinkit, owned by Zomato, responsible for 2-3%. Despite this, Blinkit holds a 40-45% market share. CEO Deepinder Goyal emphasizes sustainable growth without engaging in deep discounting. Zepto, a major competitor, is burning significantly more cash but still maintains a competitive position. The market is experiencing intense competition impacting Blinkit's financials, with challenges in expanding operations.
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Blinkit pilots large order fleet for bigger products
YourStory
·
8m ago
Medial
Zomato's quick commerce offshoot Blinkit is testing a large order fleet in the Delhi NCR region. The fleet is aimed at delivering larger items such as luggage, air purifiers, PlayStation consoles, and air fryers to quick commerce customers. This move comes as Blinkit works on a new category of express dark stores to ensure the delivery of high-value items in 30 minutes. As other companies also seek to increase their average order value, Blinkit is looking to add more categories with a higher ticket size.
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Ecommerce in competition with quick commerce
Economic Times
·
7m ago
Medial
The ecommerce sector in India is becoming more competitive as companies aim to offer same-day or two-four hour delivery services. This trend is being driven by the rise of "quick commerce" players. Major players like Flipkart, Nykaa, Myntra, and FirstCry are already offering same-day deliveries in metros and tier-1 cities. Myntra is piloting M-Now, a quick delivery service that promises delivery within 30 minutes to two hours in select Bengaluru pin codes. Other ecommerce platforms are also looking to offer faster deliveries, driven by increasing consumer demand.
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GreenJoules turns agro-waste into clean biofuel solutions
Inshorts
·
2m ago
Medial
Pune-based startup GreenJoules, founded in 2018, converts agricultural waste into drop-in biofuels like Abhilasha Liquid Fuel validated by IIT Chennai and meeting Euro VI norms. With a carbon-neutral process and 90% lower emissions than diesel, it promotes clean energy and curbs crop residue burning. Backed by $4.5 million funding, it's now expanding into gaseous fuels.
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UBS pegs $15.4 billion enterprise value to Zomato's Blinkit biz
Economic Times
·
11m ago
Medial
According to UBS, Blinkit, a quick commerce platform valued at $15.4 billion, is contributing to Zomato's valuation more than its main food delivery business. UBS values Zomato at $32.1 billion, with quick commerce and food delivery both showing strong growth. Blinkit plans to expand its network of dark stores to 2,000 by 2026. UBS also noted increased competition in the quick commerce space, with new players such as Flipkart Minutes entering the market. UBS valued Zomato's food delivery business at $12.2 billion and its going-out business at $1.6 billion.
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