Zomato denies reports of an offer to acquire Shiprocket for $2 billion

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Zomato has denied the reports, which said it has offered to acquire delivery platform Shiprocket for $2 billion. In a regulatory filing, the company termed the news as “incorrect”.

In the filing, the company said, “We have noticed that there are certain news articles circulating in the mainstream media with the subject ‘Zomato offers to acquire Shiprocket for $2 billion’.”

It added, “We deny this statement and would like to caution investors against such incorrect news floating in the market. We remain focused on our existing businesses with no plans for any acquisition at this moment.”

In a post on social media platform X, Zomato’s Chief Executive Officer Deepinder Goyal also denied the report.

“Kindly note that the Company does not comment on media speculation but is clarifying this information out of abundant caution, given the large size of the deal mentioned in the news article and the uncertainty that it may create in the market,” he wrote on X.

Earlier this week, Bloomberg reported that Zomato had made an offer to acquire Shiprocket. It, however, added that “no concrete decision has been taken”.

Zomato is already an investor in Shiprocket. In 2021, it had picked a stake in Shiprocket during its $185-million Series E funding. The round also saw participation from Temasek and Lightrock India.

On Thursday, Zomato’s shares closed at Rs 127.55 apiece on BSE. 

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Zomato denies reports of an offer to acquire Shiprocket for $2 billion

Zomato has denied the reports, which said it has offered to acquire delivery platform Shiprocket for $2 billion. In a regulatory filing, the company termed the news as “incorrect”.

In the filing, the company said, “We have noticed that there are certain news articles circulating in the mainstream media with the subject ‘Zomato offers to acquire Shiprocket for $2 billion’.”

It added, “We deny this statement and would like to caution investors against such incorrect news floating in the market. We remain focused on our existing businesses with no plans for any acquisition at this moment.”

In a post on social media platform X, Zomato’s Chief Executive Officer Deepinder Goyal also denied the report.

“Kindly note that the Company does not comment on media speculation but is clarifying this information out of abundant caution, given the large size of the deal mentioned in the news article and the uncertainty that it may create in the market,” he wrote on X.

Earlier this week, Bloomberg reported that Zomato had made an offer to acquire Shiprocket. It, however, added that “no concrete decision has been taken”.

Zomato is already an investor in Shiprocket. In 2021, it had picked a stake in Shiprocket during its $185-million Series E funding. The round also saw participation from Temasek and Lightrock India.

On Thursday, Zomato’s shares closed at Rs 127.55 apiece on BSE. 

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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