From TechCrunch
By Manish Singh
October 17, 2023
Conditions appear to be shifting favorably for India’s Swiggy. The food delivery startup — backed by SoftBank, Prosus and Accel — saw its paper valuation slashed by more than a half this year as investors marked their holdings largely in response to the dwindling market conditions. The startup, valued at $10.7 billion in a funding […]
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Swiggy’s food delivery business reaches profitability
India’s Swiggy said on Thursday that its marquee food delivery business has become profitable, eclipsing its publicly-listed rival Zomato on another key metric a day before the firm is set to report its quarterly earnings. The Bengaluru-headquartered startup — which counts Prosus Ventures, SoftBank and Invesco among its backers — became profitable in March this […]
May 18, 2023
Swiggy’s IPO is fueling India’s food delivery and quick-commerce wars
Shares of Swiggy surged 7% to ₹440 on Wednesday as the food-delivery and quick-commerce startup concluded India’s second-largest IPO this year. The closely watched listing makes the company a direct comparable for what analysts have long considered the benchmark Indian internet stock: Zomato. The listing of the 10-year-old Bengaluru-headquartered firm marks a milestone for India’s startup ecosystem, where several firms are eyeing similarly large public offerings in the next 24 months. It’s also
Nov 12, 2024
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 including Norway’s sovereign wealth fund, BlackRock and eight of the top 10 Indian mutual funds. Still, it will enter a public market where large tech companies’ st
Nov 11, 2024
Swiggy, the Indian food delivery giant, seeks $1.25 billion in IPO afternreceiving shareholder approval
Swiggy, an Indian food delivery and instant commerce startup, plans to raisen$1.25 billion in an initial public offering and has secured approval from itsnshareholders. The company disclosed its IPO plans in a filing to the localnregulator. The Bengaluru-headquartered startup plans to raise $450 millionnthrough the issuance of new shares and offer […]
Apr 24, 2024