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Grofers rebrands itself as Blinkit, underlines quick commerce

Online grocery delivery platform Grofers has rebranded itself as Blinkit to focus on its pivot to quick commerce. In a blog, Grofers’ CEO and Co-founder Albinder Dhindsa said, “we learnt a lot as Grofers, and all our learnings, our team, and our infrastructure is being repurposed to pivot to something with staggering product-market fit – quick commerce. Today, we are surging ahead as a new company, and we have a new mission statement – “instant commerce indistinguishable from magic”. And we will no longer be doing this as Grofers – we will be doing it as Blinkit.”

The new name suggests that deliveries will take place in the blink of an eye. Albinder added that today Grofers has already processed over a million orders a week, across 12 cities in India, “and this is just a start.”

Urban Company valuation rises 33 pc within 6 months to $2.8B in 4th ESOP sale

Home services marketplace Urban Company has recorded a 33 percent jump in firm valuation to $2.8 billion in the employee stock sale programme concluded recently, the company said on Sunday. The company raised Series F funding of $255 million in June, led by Prosus Ventures, Dragoneer and Wellington Management, with participation from Vy Capital, Tiger Global and Steadview, at a valuation of $2.1 billion.

Urban Company shared that it has concluded the sale of ESOPs (employee stock ownership plan), worth $7.3 million (Rs 54.6 crore) that were allocated to 770 employees comprising shares of around 390 former employees.

India’s Harnaaz Sandhu crowned Miss Universe 2021

Actor-model Harnaaz Sandhu made history on Monday as she was crowned Miss Universe 2021 — beating contestants from 80 countries — 21 years after India last brought home the title.

Only two Indians before Sandhu have won the title of Miss Universe – actors Sushmita Sen in 1994 and Lara Dutta in 2000. The 70th edition of the event was held in Eilat, Israel, where the 21-year-old bagged the coveted pageant.

The Chandigarh-based model, who is pursuing her master’s degree in public administration, was crowned by her predecessor Andrea Meza of Mexico, who won the pageant in 2020. While Paraguay’s Nadia Ferreira, 22, finished second, South Africa’s Lalela Mswane, 24, came third.