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Ashneer Grover says 'Blinkit served piping hot misery to Zomato'. This time, Twitter hits back

Ashneer Grover, had earlier urged investors to buy Zomato's free-falling shares. "It’s all about perspective," Ashneer Grover had said. "At Rs 56 per share price, markets are giving everyone ESOPs (employee stock ownership)."

July 26, 2022 / 01:13 PM IST
Ashneer Grover, had earlier pitched for the company, urging investors to buy Zomato's free-falling shares.

Ashneer Grover, had earlier pitched for the company, urging investors to buy Zomato's free-falling shares.


A day after Zomato shares tanked over 13 per cent to record lows, former BharatPe co-founder and Shark Tank India judge Ashneer Grover claimed that if Blinkit had merged with Swiggy instead of Zomato, its shares would have been selling for Rs 450 each. On Tuesday, Zomato shares were available for Rs 43.35.

"On the share market, Blinkit seved piping hot misery to Zomato in 10 minutes," the angel investor tweeted. "If they had merged with Swiggy, then their stocks would have been worth Rs 450 each."

Last month, Zomato acquired Blinkit--the new avatar of Grofers after pivoting to 10-minute deliveries-- for Rs 4,447 crore even though it registered losses of Rs 1,223 crore in the financial year 2022. Two days later, the food delivery operator shed $2 billion in valuation. Analysts have now put the Blinkit buy down to FOMO (fear of missing out) or Zomato’s intention to protect its food-delivery turf.

Meanwhile, Ashneer Grover, had earlier pitched for Zomato, urging investors to buy the company's free-falling shares.

"It’s all about perspective," he had tweeted. "If you were a Zomato employee and exercised your ESOP (employee stock ownership) at Rs 140 or higher price post IPO, you probably paid more cost per share as Income Tax, than what you can buy it today from market freely. At Rs 56 per share price, markets are giving everyone ESOPs."

Last year, the Shark Tank India judge had even made a Rs 150 crore personal application in the Zomato IPO.

This time, however, Twitter users were quick to remind Grover of his initial support to Zomato.

One among them even used Grover's catchphrase against him.

Ye sab doglapan hai (this is all hypocrisy)" was one of Grover's popular lines while judging the business reality show Shark Tank India and it had become an instant hit with meme makers.
Ankita Sengupta
first published: Jul 26, 2022 12:44 pm