HomeStock MarketZomato makes offer to acquire Shiprocket for $2 Billion

Zomato makes offer to acquire Shiprocket for $2 Billion

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Update] Shiprocket Raises $185 Mn From Zomato, Others
  1. Zomato has proposed an acquisition deal for Shiprocket, an Indian e-commerce shipping startup, potentially valuing Shiprocket at approximately $2 billion (around Rs. 16,650 crore), as reported by Bloomberg.
  2. Zomato already holds approximately 8% stakes in Shiprocket, and this potential acquisition is under consideration. However, a final decision on the deal has not been reached, and Zomato may choose not to proceed with the transaction.
  3. Shiprocket, led by CEO Saahil Goel, had previously secured funding in August 2022, achieving a valuation of $1.23 billion based on PitchBook data. Investors in Shiprocket include Bertelsmann India Investments, Temasek Holdings Pte, PayPal Ventures, and Tribe Capital.
  4. Notably, Zomato had already acquired a 7.89% stake in Shiprocket in 2021, indicating prior interest and investment in the startup’s growth and potential.

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