Zomato may buy Grofers

Zomato is learnt to be in talks to acquire online grocery retailing startup Grofers in an all-stock deal, said two people in the know.

Grofers, which has seen heightened demand in the past few weeks on the back of the Covid-19 pandemic, is expected to be valued at around $750 million, these people said. Japanese conglomerate SoftBank Vision Fund, the largest shareholder in Grofers, may look to invest around $100-200 million in the merged entity, sources close to the matter said. SoftBank is also an investor in Uber. In February, Uber sold its India food delivery business UberEats to Zomato.

Source: Economic Times