zomato

Swiggy, 2024’s biggest tech listing, falls below its IPO price and 2022 valuation

Indian food delivery company Swiggy’s stock fell below both its IPO price and its last private valuation as mounting losses and a wavering market position in quick commerce pressured its margins in the last quarter. The food delivery company’s stock fell as low as ₹374.80 ($4.29) on Thursday below its November IPO price of ₹390, […]

Swiggy, 2024’s biggest tech listing, falls below its IPO price and 2022 valuation Read More »

Blinkit signals costly battle ahead in Indian quick commerce market

Zomato’s quick commerce unit Blinkit is accelerating its expansion and expects continued losses as competition intensifies in India’s instant delivery market. Blinkit now aims to reach 2,000 dark stores – small warehouses in residential areas that exclusively service online orders – by December 2025, a year ahead of its previous guidance, after exceeding 1,000 stores

Blinkit signals costly battle ahead in Indian quick commerce market Read More »

Swiggy scales 10-minute food delivery to 400 cities in quick-commerce push

Swiggy, a leading food delivery and quick-commerce app in India, said on Monday that it has expanded its 10-minute food delivery service, Bolt, to more than 400 cities and towns across the country. The Bengaluru-headquartered startup, which went public last month, said it has partnered with over 40,000 restaurants, including global chains KFC, McDonald’s, and

Swiggy scales 10-minute food delivery to 400 cities in quick-commerce push Read More »

Zomato raises $1 billion in first major fundraise since 2021 listing

Zomato has raised $1 billion through a so-called qualified institutional placement, completing its first major fundraise since its 2021 IPO. The $30 billion food delivery and quick-commerce giant, which leads both those categories, issued approximately 336.5 million shares at ₹252.62 each ($3), according to a stock exchange filing on Friday. The placement, which opened on

Zomato raises $1 billion in first major fundraise since 2021 listing Read More »

Swiggy’s public debut will test India’s appetite for $1B+ IPOs

Swiggy’s upcoming IPO on Wednesday will finally give many analysts a public comparable for what has been long considered to be the Indian internet stock: Zomato. It will also test the nation’s appetite for IPOs that can scale past the $1 billion mark.  For its IPO, Swiggy has already secured $1.4 billion from institutional investors

Swiggy’s public debut will test India’s appetite for $1B+ IPOs Read More »

Once-dominant Swiggy seeks $11.3B value at IPO, less than half Zomato’s worth

Swiggy, one of India’s largest food delivery and quick commerce startups, is seeking a valuation of up to $11.3 billion in its initial public offering, marking a 57% discount to rival Zomato’s market cap. The lossmaking Bengaluru-based company has set an IPO price band of ₹371 to ₹390 ($4.41-$4.64) per share for next month’s IPO.

Once-dominant Swiggy seeks $11.3B value at IPO, less than half Zomato’s worth Read More »