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The food delivery giant has earmarked $1 billion for investments, a sizeable chunk of which is reserved for quick commerce.
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The food delivery giant has earmarked $1 billion for investments, a sizeable chunk of which is reserved for quick commerce.
Zomato SA's contribution was reportedly nil and its closure leaves just one international unit still standing.
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Urging investors to sign up, Zomato said it will refrain from making any deals of its own in a bid to avoid regulator scrutiny.
Zomato has been on a clean-up drive over the past few months to focus on its core food-related businesses.
Zomato has embarked on a cleanup drive as it looks to plug the losses dragging down its balance sheet.
The incident led to calls for a boycott of Zomato and CEO Deepinder Goyal's tweet afterwards may not have helped.
In India, the taxation of digital services has grown with the explosion of internet access since the mid-2010s.
After Gupta's resignation, the company is left with four co-founders including Deepinder Goyal.
With Zomato deciding to pull the plug on its grocery delivery pilot, it has pinned all hopes of competing in the market on Grofers.
