Swiggy's valuation crosses $10Bn again. After going as low as $5.5Bn last year. A small note:

- 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

Swiggy was valued at $10B a couple of months back. Good luck employees waiting for ESOP buy-back in July 2023. Your shares are now worth half of what it used to be! https://www.moneycontrol.com/news/business/invesco-cuts-swiggys-valuation-to-5-5-bn-2nd-markdown-in-4-months-10549051.html

Food tech market is 50B+ ( duopoly) Most of my friends use swiggy for everything like food, groceries and dine out. They say Zomato sucks in ui ux and 3rd grade restaurants are there at Zomato, swiggy is better at offers and quality restaurants. Zomato peak stock value was 180inr, which makes it a 15B firm, by that logic swiggy can get even 20B ipo. PS - Baron capital already raised swiggy valuation to 13.9B usd What do u think guys?

Such a sad day for all of Swiggy folks out there. 💔 Swiggy’s private feed is full of layoff messages. More power to you guys, Swiggy doesn’t deserve you. You will do better wherever you go. ❤️ Please reach out to me in DM’s if you need any sort of help or referrals. Will try my best to help in any ways I can. Some of them worked their ass off for NYE and now this is how they have rewarded them. Everything looks like a script from last year. Same fu*king 5-10 min speech for the layoff announcement. Same severance, same method used for the layoff. Now the same consolation phase will start for the existing employees by the leadership. I hope I am wrong, but with the current ways of working, Swiggy is doomed to fail!

Personally very excited for this one, after the gains I made on Zomato.

- Swiggy plans to increase its IPO size from Rs 3,750 crore to Rs 5,000 crore through a fresh issue of shares. - The final decision will be made at the company's extraordinary general meeting on October 3. - The total IPO size could reach $1.4 billion if the new proposal is approved. - Rivals like Zomato and Blinkit have improved profitability, intensifying market competition. - Swiggy's revenue grew 36 percent in FY24, while losses decreased by 44 percent. Source: [Moneycontrol](https://api.gvine.app/admin/grapevine/post/0b3956c3-e191-49bb-9014-61e765005b22/change/)

Hiring for a bunch of roles for an early stage startup. Salaries of people who have been laid off is through the roof 2-3 years experience asking for 30-40l and while we chose not to judge the experience and spoke to a few of them, most of them are not even worth half of the pay. Many are jobless since last 2-3 months and none of them are willing to take a paycut of even 5-6L and are willing to stay jobless ( probably have a ton of savings ) Market correction is necessary. Roles : PM, software engineers, generalists