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Was It a MISTAKE for Zomato to Buy Blinkit? - Indian Startup News 127



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This week in Indian Startup News, Zomato’s acquisition of Blinkit - A disaster or long term bet, BYJU’s owned Whitehat Jr and Toppr fire 650+ people and Ola Shuts Used Cars And Quick Commerce Business.

In Founder Spotlight, we have the founder and CEO of Unacademy, Gaurav Munjal, who recently opened first offline center in Kota and is now becoming hot favorite for students in offline space.

In Funding news we have, Arzoo, Solv, Battery Smart and 10 other Indian startups raise more than $1 Million.

00:00 Introduction
00:06 Zomato’s acquisition of Blinkit
02:58 Founder Spotlight
05:20 Funding Analysis
06:33 Sponsored Segment
08:16 BYJU’s owned Whitehat Jr and Toppr fire 650+ people
09:25 Ola Shuts Used Cars And Quick Commerce Business

Zomato’s acquisition of Blinkit: Last week, Zomato had finally concluded its acquisition of quick commerce startup Blinkit and in less than four days of this acquisition, Zomato’s share has fallen more than 21% which means that more than 13,000 Crore Rs of Zomato’s market value has been wiped off. This seems a bad decision in the short term as Blinkit is a loss making company but Zomato realized that food delivery and grocery delivery have a lot of synergies as both are hyperlocal businesses and the company already has a fleet of delivery people. And that's why they are thinking of this as a long term bet.

Founder Spotlight - Gaurav Munjal: This week we have Co-founder and CEO of Unacademy, Gaurav Munjal, and the reason for him to feature here is the aggressive strategy he along with his team is taking at Unacademy to disrupt the offline coaching space in India, and especially in a city called Kota. Gaurav is known for killing off the competition by acquiring them or bleeding them dry by poaching the talent and this is exactly what is happening in Kota right now. More than 40 teachers from Allen have already joined Unacademy and this battle is heating up.

Funding this week: This week saw at least 13 Indian startups raising more than $314 Million.
B2B Marketplaces - Arzoo raised $70 Million
Fintech startups - Progcap raised $40 Million
EV startups - Battery Smart raised $25 Mn
Real Estate - PropShare raised $50 Million

BYJU’s owned Whitehat Jr and Toppr fire 650+ people: BYJU’s owned Whitehat Jr and Toppr have laid off 300 and 350+ employees respectively. Company has termed these lay offs as ‘business restructuring’ and according to Inc42, sales and marketing team were the worst affected. Edtech wasn’t the only sector that saw layoffs, as B2B Ecommerce Unicorn Udaan has also laid off around 180 employees to cut costs. Another startup called Nova Benefits, which is a Bengaluru-based insurtech startup, has also laid off around 70 employees.

Ola Shuts Used Cars And Quick Commerce Business: Bhavish Aggarwal led Ola has decided to shut down its used car division Ola Cars and its quick commerce business, Ola Dash. The company will now focus on its electric vehicles and mobility businesses from here on. According to the company, they are reassessing their priorities at this point and it seems quick commerce isn’t their priority as of now. Company will be using the lessons it learnt from it’s Ola Cars business for making go to market strategy for Ola Electric.

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