Can Blinkit—Grofers' new avatar and Albinder Dhindsa's 10-minute delivery act—help Deepinder Goyal add more muscle in Zomato's hyperlocal fight against loaded rival Swiggy, aggressive Dunzo and a bunch of upstarts?
(Left)Deepinder Goyal, Founder and CEO, Zomato and Albinder Dhindsa, Founder, Blinkit
Image: Amit Verma
“Thirty is not quick. 10 is quick,” Deepinder Goyal asserts in the blink of an eye. It’s a bright sunny day before Christmas Eve. The expansive corporate headquarters of Zomato in Sector 43 on the Golf Course Road in Gurugram is decked up with festive red and the founder and chief executive officer (CEO) of the online foodtech firm walks in at 1.30 pm. “I hope you didn’t find much traffic,” smiles Goyal, as he pulls a chair at the empty back porch of the building. “Over 70 percent of the time I sit on these chairs,” he continues as he sanitises his hands, lights up a cigarette, and pours a glass of fruit juice.
Though it’s lunch time, the office wears a subdued look as employees have been working from home. A huge yellow hoarding announcing ‘Grofers is now Blinkit’ does its best to brighten up the mood as Goyal sets the tone for an animated conversation around quick commerce. “Thirty minutes is neither here nor there,” he says, alluding to the delivery time of some of Grofers’ rivals in the segment. “Swiggy is still not doing instant commerce,” he reckons. Blinkit, in which Zomato is a minority investor, delivers in 10 minutes. “Only 10 minutes make sense,” he says.
Around 18 minutes and 7.5 km away, Ananya Kar agrees with the 38-year-old entrepreneur who had a blockbuster IPO last July. “Delivery has to be really quick to make sense,” reckons the high school student. From cup noodles to chips, chocolates, stationery and batteries, the 17-year-old refills her ‘craving’ list every night, and even afternoons, by placing orders on Blinkit. Tell her that there is a convenience store just 500 metres from her residence, and Kar grins: “Why go when you can get it in 10 minutes?”
Meanwhile, in Berlin, Germany, Shubhankar Bhattacharya decodes why venture capitalists (VC) loaded online grocery in India with the most funds last year. In 2021, the segment mopped up $1.7 billion to top the most-funded segments’ chart; social platforms like Josh, ShareChat, foodtech and edtech followed, in that order. One undeniable-but-under-appreciated truth that drives consumer adoption—and VC interest—is that consumers love being lazy and will adopt solutions that enable them to stay lazy, explains Bhattacharya, general partner at Foundamental, an early-stage VC firm.