Swiggy valuation down to $5.5B

Would you rather sell at a devaluation and access liquidity or hope that next buy back allows you greater rewards?

Approx 2000 Swiggy folks are going to be like “Paisa hi Paisa”. Anyone here who will be benefiting from this??

- Swiggy has launched a $65 million ESOPs liquidity programme, marking its fifth such event since 2018. - Employees across various levels can now receive liquidity for their ESOPs in the secondary market. - This is the third consecutive ESOP liquidity event following those in July 2022 and 2023. - Swiggy has enabled over Rs 1,000 Cr of ESOPs liquidity, benefiting 3200 employees over five events. - The announcement comes as Swiggy prepares for its IPO, with plans to raise approximately $1.25 billion. Source: Entrackr

- Invesco valued its 28,844 shares of Swiggy at $219.2 Mn as of April 2024, translating to a $12.3 Bn valuation for the foodtech company. - Pine Labs' valuation was pegged at $3.5 Bn at the end of April 2024, down from $3.8 Bn in January 2024. - The valuation cuts come as Swiggy prepares for its $1.25 Bn IPO, having filed its draft red herring prospectus with SEBI. - Despite the cuts, Swiggy's latest valuation is still 15% higher than its $10.7 Bn valuation during its $700 Mn decacorn round in 2022. - The valuation adjustments follow a period of funding challenges and losses for Indian unicorns, though investor sentiment has recently improved. Source: Inc42

"Only when the tide goes out do you discover who's been swimming naked." - Warren Buffet I want to appreciate Swiggy for whatever they've done in the last year. Everyone's had a tough time, and through the bear market (which we are still in), everyone lost valuation majorly. You need to have a super strong business to be able to maintain strength (given we're still not in a bull). When in this market, somebody almost doubles their valuation, it's a feat. I know there's layoffs and everything that happened there too, but just happy to see all of this happen as an avid user and a small founder who's realized how tough it's been these last 1-2 years.