Zomato co-founder and CEO Deepinder Goyal has resigned from the board of Urban Company as Zomato-owned instant commerce company Blinkit may enter the home services category.
The move will put Zomato-owned Blinkit in direct competition with Tiger Global-backed Urban Company. Deepinder Goyal was appointed as an independent director on the board of Urban Company in March 2022.
According to reports, Blinkit has already started offering home chef services through a Gurugram-based company called Chefkart, but it is yet to decide what will be the size and format of this campaign.
As per reports, there is no clarity on the services to be offered and it could be just an advertisement on the Blinkit platform.
Blinkit has set up a new team of employees from the existing group and has reportedly also hired workforce to launch this new vertical.
Mint could not independently confirm this news.
Zomato's loss widened to ₹346.6 crore in the third quarter ended December 2022, from ₹63.2 crore a year ago.
Revenue from operations grew 75% to ₹1,948 crore for the December quarter as compared to ₹1,112 crore in the same period last year. On a sequential basis, revenue improved by 17% as against ₹1,661 crore reported for Q2FY23.
The online food delivery giant's adjusted EBITDA loss widened to ₹265 crore in the December quarter, as against ₹192 crore in the quarter ended September last year. Excluding Blinkit, operating loss stood at ₹38 crore as compared to ₹272 crore a year ago.
On reviving growth, Zomato founder and CEO Deepinder Goyal said, "We continue to focus on our long-term growth vectors without worrying too much about near-term growth pressures."
Shares of Zomato closed 2.50% higher at ₹54.94 on BSE.
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