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Zomato Owned Quick Commerce Platform Blinkit To Step Into Home Service Business

Zomato Owned Quick Commerce Platform Blinkit To Step Into Home Service Business
POSTED ON March 02, 2023 11:43 AM

Blinkit, a Zomato-owned quick commerce company, is planning to enter the home service business. Multiple media reports claimed that Zomato’s chief executive officer (CEO) stepped down as a board member of Urban Company, a New Delhi-based home service unicorn, due to Blinkit’s decision. 

However, Zomato declined to comment anything on this matter. 

“Blinkit is set to offer handyman services such as plumbing, electrician, beautician and air conditioner repairing, etc. on its platform in coming weeks,” one of the sources aware of the development told Entrackr. 

“Goyal resigned as the new vertical will compete with UC and there would be a direct conflict of interest,” the source added. 

Recently, the company revealed its financial numbers for the third quarter of the financial year (FY) 2023. It witnessed its total revenue grow by 75 per cent to Rs 1,948 crore in the same period. Additionally, its net loss surged to Rs 346 crore, witnessing a 5x jump compared to the corresponding quarter of the previous year. 

Goyal said in a statement, that Zomato can earn more than $ 1 billion in profit by 2030. Its revenue can reach $100 billion. 

“Internally, that is the goal that by 2030ish we should be about 100ish billion and the way we see the business growing and changing in terms of scale and profit I think we can easily be billion dollars plus in profit in seven-eight years’ time,” Goyal told the Economic Times (ET) in a conversation. 

The company recently launched the home-style meal service  ‘Everyday,’ a platform where its food partners are expected to collaborate with home chefs. 

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