Zomato’s quick commerce platform Blinkit achieved profitability in Q1 2024, prompting the company to significantly expand its footprint. Zomato plans to increase Blinkit’s stores from 526 to 1,000 by March 2025, focusing on major cities like Delhi and Mumbai. This aggressive expansion comes alongside a 97% year-on-year surge in Blinkit’s gross order value. Zomato‘s monthly transacting users on Blinkit are also nearing the company’s core food delivery platform, highlighting the rising popularity of quick commerce.
To incentivize employees driving this growth, Zomato announced a fresh round of employee stock options. The company also highlighted a significant reduction in expenses, falling from 29% of revenue in FY22 to 12% in FY24.
While Zomato‘s quick commerce business flourishes, its Hyperpure segment witnessed a slowdown in growth. However, the company remains focused on scaling the B2B platform for kitchen supplies despite the slowdown. Zomato expects advertising revenue to rise from Blinkit, further boosting its financials.
