Zomato said to make takeover offer for closely held Shiprocket

Zomato Ltd., the publicly traded food delivery company, has made an offer to acquire closely held Indian e-commerce shipping startup Shiprocket, according to people with knowledge of the matter.

Zomato’s offer values the platform at about $2 billion, said the people, who requested anonymity discussing confidential information. No final decision has been made and Zomato could opt against proceeding with a deal for the company, the people said.

Representatives for Shiprocket and New Delhi-based Zomato declined to comment.

Shiprocket, led by co-founder and Chief Executive Officer Saahil Goel, raised funds in August 2022 at a valuation of $1.23 billion, PitchBook data shows. Its investors include Bertelsmann India Investments, Temasek Holdings Pte, PayPal Ventures and Tribe Capital. Zomato backed the company in 2021.