'No, Zomato is not making $2 billion acquisition': CEO

Zomato denies reports of acquiring Shiprocket, refuting Bloomberg's claim of a $2 billion offer. Zomato CEO Deepinder Goyal clarifies on X that the news articles are incorrect and caution investors against the speculation. Zomato had previously invested in Shiprocket during its $185-million funding round. Shiprocket aggregates demand and partners with logistics players while also offering technology integration for retailers. Shiprocket reported a 78% increase in operating revenue for the fiscal year but also experienced a threefold expansion in net loss due to acquisitions.

from Times of India https://ift.tt/oa19r6e