Zomato denies reports of acquiring logistics firm Shiprocket
Food delivery major Zomato, in a regulatory filing, has denied claims that it has offered to acquire logistics unicorn Shiprocket for $2 billion.
“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,” the company said.
Zomato chief executive officer Deepinder Goyal, in a tweet on X, also denied the reports.
“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 said.
Earlier, reports surfaced that Zomato, which holds around 8 per cent stake in Shiprocket, was looking to acquire the logistics platform.
Zomato had made an investment in Shiprocket as part of its $185 million Series E funding round in 2021. Shiprocket also enjoys backing from other notable investors, including Lightrock India and Temasek, the sovereign wealth fund of Singapore.
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