Goldman Sachs values Zomato's Blinkit at $13B, higher than its food delivery business, due to improved performance.
Goldman Sachs has valued Zomato's quick commerce startup Blinkit at a higher equity value than Zomato's food delivery business, at $13 billion, due to improved performance. Blinkit's implied valuation has grown from Goldman Sachs' previous estimate of $8 billion. Goldman Sachs maintains a 'buy' recommendation on Zomato's stock and has raised its price target to ₹240 from ₹170 earlier, citing Zomato's EBITDA margin as the highest among global food delivery platforms.
April 26, 2024
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