Zomato, a popular online food shipping platform will get a Blinkit online grocery delivery company, Bloomberg news agency reports on Friday.

Zomato – Supported by Sequoia Capital and Ant Group Jack MA, among others – expects the market for fast delivery to expand exponentially to enter categories – categories such as beauty and personal care, electronics, drugs and stationery. It is hoped that the demand for fast delivery will grow in big cities in India in the long run.

This is what we know about the agreement so far

> An agreement worth ₹ 4,447 crore (around $ 570 million), said Bloomberg. This will be paid by Zomato in the form of shares in the parent company. However, it is still unclear whether it will be an agreement of ‘All-Stock’ or not. It was reported that Blinkit shareholders would get around 7 percent of shares in Zomato in ₹ 70.76 per share.

> Blinkit – known as fast delivery of grocery and important – owned & managed by ‘Blink Commerce Private Limited’ which was previously known as Grofers India Private Limited. Grofers basically changed his name as ‘Blinkit’ as his CEO promised to speed up shipping everything ranging from food to electronic, in markets dominated by giants of e-commerce flipkart and Amazon.

> Blinkit is one of more than 40 unicorn – or a startup worth more than $ 1 billion, made in India last year, a report by Livemint.

> Zomato had previously invested in Blinkit in August last year, extending loans of more than $ 100 million for fast-commerce entities. Zomato currently has 9 percent of betting on Blinkit and plans to separate the Blinkit application from the Zomato application after the acquisition.

> “Acquisition of Blinkit Technology Platforms, Business Scale, Brands and third party sellers, and warehouse networks will help save costs for Zomato,” Chief Executive Officer Deepinder Goyal as quoted by Bloomberg.