Zomato co-founder and chief executive officer Deepinder Goyal has resigned from the board of Urban Company as the Zomato-owned quick commerce company, Blinkit may enter into the home services category, according to media reports.
This move will put Zomato and Blinkit in direct competition with Tiger Global-backed Urban Company. Deepinder Goyal was appointed as an independent director on Urban Company’s board in March 2022.
According to reports, Blinkit has already started offering home chef services through a Gurugram-based company called ChefKart but it hasn't been decided in what way would it enter the home services category.
There has been no clarity on the services to be offered and it could just be an advertising on the Blinkit platform, according to the reports.
Blinkit has set up a new team of existing group’s employees and has also hired workforce to launch this new vertical, according to reports.
Mint could not independently confirm the news.
Zomato's Loss surged to ₹346.6 crore for the third quarter ended December 2022 from ₹63.2 crore in the year earlier.
Revenue from operations rose 75% to ₹1,948 crore for the December quarter as compared to ₹1,112 crore in the corresponding period of last year. On a sequential basis, revenue improved by 17% as against ₹1,661 crore reported for Q2FY23.
The online food delivery giant's adjusted EBITDA loss increased to ₹265 crore in the December quarter as against ₹192 crore in the quarter ended in September last year. Excluding Blinkit, the operating loss was ₹38 crore compared with ₹272 crore a year ago.
On reviving growth, Deepinder Goyal, Founder & CEO at Zomato said, "We continue to stay focused on our long-term growth vectors without worrying too much about near-term growth pressures."
Zomato's share closed 2.50% up at ₹54.94 on BSE.
