• About
  • Contact
Tuesday, May 17, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Swiggy to view valuation sense $10 billion with investment to compete Zomato

Anshumaan Vishnu by Anshumaan Vishnu
October 7, 2021
in News
Reading Time: 2 mins read
A A
0
Swiggy funding

Foodtech firm Swiggy is in discussions with current and fresh investors to raise nearly $1 billion, for a valuation of over $10 billion, sources told media. This is roughly double the valuation of $5.5 billion that the business reached only in July following a round raised from Softbank and other investors.

This will bring Swiggy closer to competing Zomato’s nearly $15 billion market cap. Zomato has observed its valuation almost double from the $8 billion-odd valuation at the time of its listing in July.

Swiggy Stores

Swiggy had secured a $1.25 billion fundraising in July this year driven by SoftBank Vision Fund 2 and long-term investor Prosus, with cooperation by existing investors, Accel Partners, and Wellington Management.

Swiggy was valued at $5.5 billion at the time, sources told.

Swiggy had also roped in new investors Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments, and Carmignac.

The firm had said the last fundraising was massively oversubscribed following strong attention from investors.

Swiggy had said the financing will further quicken the company’s strategy of spreading its core food delivery business and creating new food and non-food adjacencies in 2021 and ahead. References said non-food verticals now bring in 25 percent of revenues for the brand.

Zomato, on the other side, has been pruning its non-food verticals by closing down its grocery and nutraceutical businesses to concentrate extensively on the core food business.

Tags: fundingSwiggy
Previous Post

Meesho: India’s First Social Commerce Brand Success Story

Next Post

TikTok Says it has Passed 1 Billion Users

Anshumaan Vishnu

Anshumaan Vishnu

An entrepreneur and writer who prefers to create content around startups, entrepreneurship and digital marketing. To talk more like this idea, connect on LinkedIn.

Related Posts

Smytten Founders
News

D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures

May 17, 2022
paytm mall
News

Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore

May 17, 2022
Zerodha Team
News

After Meesho, Nearly 950 of Zerodha’s 1100 Employees Will Work From Home Permanently

May 16, 2022
Elon Musk Twitter
News

Elon Musk Puts On Hold $44 Billion Twitter Acquisition Deal

May 13, 2022
Dineout Founders
Food

Swiggy Acquires Times Internet Backed Dineout For $200 Million

May 13, 2022
Ather Founder
News

Ather Energy Raises $128 Million Investment Led By Hero MotoCorp, India’s Sovereign Wealth Fund

May 12, 2022
Next Post
Tiktok Most Downloaded App in 2021

TikTok Says it has Passed 1 Billion Users

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple brand story BYJU Ravindran Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding Good Glamm Group google Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection Non Fungible Tokens OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india Startups startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad YouTube Zomato Zomato App

Instagram

Follow Me!

Recent News

  • D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures
  • Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore
  • After Meesho, Nearly 950 of Zerodha’s 1100 Employees Will Work From Home Permanently

Latest News

Smytten Founders

D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures

May 17, 2022
paytm mall

Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore

May 17, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.