As per reports, Zomato seeks to acquire Shiprocket for $2 billion, but Shiprocket denies news, calling it “speculations”
New Delhi: Online food delivery platform Zomato has proposed to acquire Indian e-commerce startup Shiprocket, according to media reports.
Zomato has offered to acquire the logistics player for about $2 billion, reports said, adding that no final decision has been made and Zomato could opt out of the deal.
Indiaretailing contacted Shiprocket for comments but the company declined, calling it “speculations”.
In December 2021, Shiprocket secured a funding of $185 million (Rs 1,380 crore). This was the third round of funding and it was co-led by Zomato, Temasek and Lightrock.
Shiprocket, founded in 2017 by Vishesh Khurana, Akshay Gulati, Saahil Goel and Gautam Kapoor, is a logistics enablement platform. It works with courier companies such as Delhivery, FedEx, Aramex, among others, and aggregates demand from micro-entrepreneurs and d2c (direct-to-consumers) brands.
Shiprocket’s operating revenue for financial year (FY) 2023 surged 78% to Rs1,089 crore from Rs611 crore in FY22; its net loss widened to Rs341 crore from ₹93.1 crore in 2022.
